# EDGAR Filing Document

**Accession Number:** 0000713676
**File Stem:** 0000713676-26-000006
**Filing Date:** 2026-1
**Character Count:** 238556
**Document Hash:** bc948edd63b3fb950583548b6788a489
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000713676-26-000006.hdr.sgml**: 20260116

**ACCESSION NUMBER**: 0000713676-26-000006

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20260116

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260116

**DATE AS OF CHANGE**: 20260116

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PNC FINANCIAL SERVICES GROUP, INC.
- **CENTRAL INDEX KEY:** 0000713676
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 251435979
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-09718
- **FILM NUMBER:** 26537615

**BUSINESS ADDRESS:**
- **STREET 1:** THE TOWER AT PNC PLAZA
- **STREET 2:** 300 FIFTH AVENUE
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15222-2401
- **BUSINESS PHONE:** 888-762-2265

**MAIL ADDRESS:**
- **STREET 1:** THE TOWER AT PNC PLAZA
- **STREET 2:** 300 FIFTH AVENUE
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15222-2401

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PNC FINANCIAL SERVICES GROUP INC
- **DATE OF NAME CHANGE:** 20000327

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PNC BANK CORP
- **DATE OF NAME CHANGE:** 19930505

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PNC BANK CORP /PA/
- **DATE OF NAME CHANGE:** 19930428

?xml version='1.0' encoding='ASCII'? pnc-20260116

**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** 

**January 16, 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:

---

| | | |
|:---|:---|:---|
| <u>Title of Each Class</u> | <u>Trading Symbol(s)</u> | Name of Each Exchange<br> <u>on Which Registered</u>  |
| **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 January 16, 2026, The PNC Financial Services Group, Inc. ("PNC") issued a press release regarding PNC's earnings and business results for the fourth quarter and full year of 2025. 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.

---

| | | |
|:---|:---|:---|
| <u>Number</u> | <u>Description</u> | <u>Method of Filing</u> |
| 99.1 | <u>[Press release dated January 16, 2026](q42025financialhighlightsa.htm)</u> | Furnished herewith |
| 99.2 | <u>[Financial Supplement (unaudited) for the Fourth Quarter 2025](q42025financialsupplement.htm)</u> | Furnished herewith |
| 104 | The cover page of this Current Report on Form 8-K, formatted in Inline XBRL. | |

---

------

**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.**<br>*(Registrant)* | **THE PNC FINANCIAL SERVICES GROUP, INC.**<br>*(Registrant)* |
| Date: | January 16, 2026 | By: | /s/ Gregory H. Kozich |
|  |  |  | Gregory H. Kozich |
|  |  |  | *Senior Vice President and Controller* |

---

## Exhibit 99.1

![newsrelease_headerimage002a.jpg](newsrelease_headerimage002a.jpg)

**Exhibit 99.1**

**PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS**

**Generated Record Revenue and 5% Positive Operating Leverage**

**Increases Planned Share Repurchases**

**Fourth Quarter 2025 net income was $2.0 Billion, $4.88 Diluted EPS**

**Grew NII, NIM and noninterest income; increased loans and deposits**

**Closed FirstBank Acquisition on Jan. 5, 2026**

PITTSBURGH, Jan. 16, 2026 – The PNC Financial Services Group, Inc. (NYSE: PNC) today reported:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | For the quarter | For the quarter | For the year | For the year | |
|<br>In millions, except per share data and as noted | **4Q25** | **3Q25** | **2025** | **2024** |<br>**Fourth Quarter Highlights** |
|  |  |  |  |  | <br>▪ |
| **Financial Results** |  |  |  |  | *Comparisons reflect 4Q25 vs. 3Q25* |
| Net interest income (NII) | 3731 | 3648 | 14410 | 13499 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| &nbsp;&nbsp;Fee income *(non-GAAP)* | 2123 | 2069 | 7925 | 7345 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| &nbsp;&nbsp;&nbsp;Other noninterest income | 217 | 198 | 764 | 711 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Noninterest income | 2340 | 2267 | 8689 | 8056 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Revenue | 6071 | 5915 | 23099 | 21555 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Noninterest expense | 3603 | 3461 | 13834 | 13524 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Pretax, pre-provision earnings (PPNR) *(non-GAAP)* | 2468 | 2454 | 9265 | 8031 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Provision for credit losses | 139 | 167 | 779 | 789 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Net income | 2033 | 1822 | 6997 | 5953 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| **Per Common Share** |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Diluted earnings per share (EPS) | 4.88 | 4.35 | 16.59 | 13.74 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Average diluted common shares outstanding | 394 | 396 | 396 | 400 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Book value | 140.44 | 135.67 | 140.44 | 122.94 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Tangible book value (TBV) *(non-GAAP)* | 112.51 | 107.84 | 112.51 | 95.33 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| **Balance Sheet & Credit Quality** | **Balance Sheet & Credit Quality** |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Average loans *In billions* | 327.9 | 325.9 | 323.4 | 319.8 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Average securities *In billions* | 142.2 | 144.4 | 142.7 | 140.7 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Average deposits *In billions* | 439.5 | 431.8 | 428.8 | 421.2 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Accumulated other comprehensive income (loss) (AOCI) <br>*In billions* | (3.4) | (4.1) | (3.4) | (6.6) | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Net loan charge-offs | 162 | 179 | 744 | 1041 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Allowance for credit losses to total loans | 1.58% | 1.61% | 1.58% | 1.64% | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| **Selected Ratios** |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Return on average common shareholders' equity | 14.33% | 13.24% | 12.90% | 11.92% | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Return on average assets | 1.40 | 1.27 | 1.24 | 1.05 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Net interest margin (NIM) *(non-GAAP)* | 2.84 | 2.79 | 2.83 | 2.66 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Noninterest income to total revenue | 39 | 38 | 38 | 37 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Efficiency | 59 | 59 | 60 | 63 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Effective tax rate | 12.7 | 20.3 | 17.5 | 17.8 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| Common equity tier 1 (CET1) capital ratio | 10.6 | 10.7 | 10.6 | 10.5 | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| *See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release. Totals may not sum due to rounding.* | *See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release. Totals may not sum due to rounding.* | *See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release. Totals may not sum due to rounding.* | *See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release. Totals may not sum due to rounding.* | *See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release. Totals may not sum due to rounding.* | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases | &nbsp;&nbsp;&nbsp;&nbsp;**Income Statement**<br>▪ Record revenue of $6.1 billion increased 3%<br>–NII increased 2%; NIM of 2.84% increased 5 bps<br>–Fee income increased 3% driven by higher capital markets and advisory fees<br>–Other noninterest income of $217 million included negative $41 million of Visa derivative adjustments<br>▪ Noninterest expense increased 4% <br>–Efficiency ratio of 59%<br>• Effective tax rate of 12.7% reflected favorable resolution of several tax matters<br>**Balance Sheet** <br>▪ Average loans increased $2.0 billion, or 1%<br>▪ Average deposits grew $7.7 billion, or 2%<br>▪ Net loan charge-offs were $162 million, or 0.20% annualized to average loans<br>▪ AOCI improved $0.7 billion to negative $3.4 billion <br>▪ TBV per share increased 4% to $112.51<br>▪ Maintained strong capital position<br>–CET1 capital ratio of 10.6% <br>–$0.7 billion of common dividends<br>–$0.4 billion of share repurchases |  |  |  |

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| |
|:---|
| **From Bill Demchak, PNC Chairman and Chief Executive Officer:** |
| *"By virtually all measures, 2025 was a successful year. Strong execution across all business lines resulted in record revenue, well controlled expenses and 21% earnings per share growth. We're entering 2026 with great momentum and are excited about the opportunities in front of us, including the recently closed acquisition of FirstBank."* |
| *"By virtually all measures, 2025 was a successful year. Strong execution across all business lines resulted in record revenue, well controlled expenses and 21% earnings per share growth. We're entering 2026 with great momentum and are excited about the opportunities in front of us, including the recently closed acquisition of FirstBank."* |
| *"By virtually all measures, 2025 was a successful year. Strong execution across all business lines resulted in record revenue, well controlled expenses and 21% earnings per share growth. We're entering 2026 with great momentum and are excited about the opportunities in front of us, including the recently closed acquisition of FirstBank."* |
| *"By virtually all measures, 2025 was a successful year. Strong execution across all business lines resulted in record revenue, well controlled expenses and 21% earnings per share growth. We're entering 2026 with great momentum and are excited about the opportunities in front of us, including the recently closed acquisition of FirstBank."* |

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 2

**Acquisition of FirstBank**

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

**Income Statement Highlights**

*Fourth quarter 2025 compared with third quarter 2025*

▪ Total revenue of $6.1 billion increased $156 million, or 3%, driven by records in both net interest income and fee income.

–Net interest income of $3.7 billion increased $83 million, or 2%, and included the impact of lower funding costs, loan growth and the continued benefit of fixed rate asset repricing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net interest margin increased 5 basis points to 2.84%.

–Fee income of $2.1 billion increased $54 million, or 3%, driven by higher capital markets and advisory activity.

–Other noninterest income of $217 million increased $19 million reflecting higher private equity revenue, partially offset by negative $41 million of Visa derivative adjustments primarily due to litigation escrow funding. Visa derivative adjustments were negative $35 million in the third quarter.

▪ Noninterest expense of $3.6 billion increased $142 million, or 4%, driven by increased business activity and seasonality.

▪ Provision for credit losses was $139 million in the fourth quarter.

▪ The effective tax rate was 12.7% for the fourth quarter and 20.3% for the third quarter. The lower effective tax rate reflected favorable resolution of several tax matters.

**Balance Sheet Highlights**

*Fourth quarter 2025 compared with third quarter 2025 or December 31, 2025 compared with September 30, 2025*

▪ Average loans of $327.9 billion increased $2.0 billion, or 1%, driven by growth in commercial loans, primarily within the commercial and industrial portfolio. Average consumer loans were stable as growth in both the auto and credit card loan portfolios was offset by declines in residential real estate loans.

▪ Credit quality performance:

–Delinquencies of $1.4 billion increased $210 million, or 17%, due to higher commercial and consumer loan delinquencies.

–Total nonperforming loans of $2.2 billion increased $81 million, or 4%, as higher commercial and industrial nonperforming loans more than offset declines in commercial real estate nonperforming loans.

–Net loan charge-offs of $162 million decreased $17 million due to lower consumer and commercial net loan charge-offs.

–The allowance for credit losses of $5.2 billion decreased $0.1 billion. The allowance for credit losses to total loans was 1.58% at December 31, 2025 and 1.61% at September 30, 2025.

▪ Average investment securities of $142.2 billion decreased $2.2 billion, or 2%, reflecting net paydowns and maturities in the held-to-maturity portfolio.

▪ Average deposits of $439.5 billion increased $7.7 billion, or 2%, driven by growth in both commercial and consumer client accounts and activity, partially offset by lower brokered time deposits.

▪ PNC maintained a strong capital and liquidity position:

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 3

–On January 5, 2026, the PNC board of directors declared a quarterly cash dividend on common stock of $1.70 per share to be paid on February 5, 2026 to shareholders of record at the close of business January 20, 2026.

–PNC returned $1.1 billion of capital to shareholders, reflecting $0.7 billion of dividends on common shares and $0.4 billion of common share repurchases.

–Share repurchase activity in the first quarter of 2026 is expected to approximate $600 million to $700 million.

–The Basel III common equity tier 1 capital ratio was an estimated 10.6% at December 31, 2025 and was 10.7% at September 30, 2025.

–PNC's average LCR for the three months ended December 31, 2025 was 108%, exceeding the regulatory minimum requirement throughout the quarter.

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| | | | |
|:---|:---|:---|:---|
| **Earnings Summary** | | | |
| *In millions, except per share data* | 4Q25 | 3Q25 | 4Q24 |
| Net income | $2033 | $1822 | $1627 |
| Net income attributable to diluted common shareholders | $1922 | $1723 | $1505 |
| Diluted earnings per common share | $4.88 | $4.35 | $3.77 |
| Average diluted common shares outstanding | 394 | 396 | 399 |
| Cash dividends declared per common share | $1.70 | $1.70 | $1.60 |

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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.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CONSOLIDATED REVENUE REVIEW** | **CONSOLIDATED REVENUE REVIEW** | **CONSOLIDATED REVENUE REVIEW** | **CONSOLIDATED REVENUE REVIEW** | | |
| **Revenue** |  |  |  | Change | Change |
|  |  |  |  | 4Q25 vs | 4Q25 vs |
| *In millions* | 4Q25 | 3Q25 | 4Q24 | 3Q25 | 4Q24 |
| Net interest income | $3731 | $3648 | $3523 | 2% | 6% |
| Noninterest income | 2340 | 2267 | 2044 | 3% | 14% |
| Total revenue | $6071 | $5915 | $5567 | 3% | 9% |

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Total revenue for the fourth quarter of 2025 increased $156 million compared to the third quarter of 2025 and $504 million compared to the fourth quarter of 2024, driven by growth in both net interest income and noninterest income in each period.

Net interest income of $3.7 billion increased $83 million from the third quarter of 2025 and $208 million from the fourth quarter of 2024. In both comparisons, the increase included the impact of lower funding costs, loan growth and the continued benefit of fixed rate asset repricing.

Net interest margin was 2.84% in the fourth quarter of 2025, increasing 5 basis points and 9 basis points from the third quarter of 2025 and fourth quarter of 2024, respectively, reflecting the benefit of fixed rate asset repricing.

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 4

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Noninterest Income** |  |  |  | Change | Change |
|  |  |  |  | 4Q25 vs | 4Q25 vs |
| *In millions* | 4Q25 | 3Q25 | 4Q24 | 3Q25 | 4Q24 |
| Asset management and brokerage | $411 | $404 | $374 | 2% | 10% |
| Capital markets and advisory | 489 | 432 | 348 | 13% | 41% |
| Card and cash management | 733 | 737 | 695 | (1)% | 5% |
| Lending and deposit services | 342 | 335 | 330 | 2% | 4% |
| Residential and commercial mortgage | 148 | 161 | 122 | (8)% | 21% |
| Fee income *(non-GAAP)* | 2123 | 2069 | 1869 | 3% | 14% |
| Other | 217 | 198 | 175 | 10% | 24% |
| Total noninterest income | $2340 | $2267 | $2044 | 3% | 14% |

---

Noninterest income for the fourth quarter of 2025 increased $73 million, or 3%, compared with the third quarter of 2025. Asset management and brokerage fees increased $7 million driven by higher average equity markets and increased client activity. Capital markets and advisory revenue increased $57 million primarily due to an increase in merger and acquisition advisory activity. Lending and deposit services increased $7 million and included higher loan commitment fees. Residential and commercial mortgage revenue decreased $13 million driven by lower residential mortgage servicing rights valuation, net of economic hedge. Other noninterest income increased $19 million reflecting higher private equity revenue, partially offset by negative $41 million of Visa derivative adjustments primarily due to litigation escrow funding. Visa derivative adjustments were negative $35 million in the third quarter of 2025.

Noninterest income for the fourth quarter of 2025 increased $296 million, or 14%, from the fourth quarter of 2024. Fee income increased $254 million, or 14%, reflecting strong momentum across all business lines and fee income categories. Other noninterest income increased $42 million and included increased private equity revenue, partially offset by higher negative Visa derivative adjustments. Visa derivative adjustments were negative $41 million in the fourth quarter of 2025 compared to negative $23 million in the fourth quarter of 2024.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CONSOLIDATED EXPENSE REVIEW** | **CONSOLIDATED EXPENSE REVIEW** | **CONSOLIDATED EXPENSE REVIEW** | | | |
| **Noninterest Expense** |  |  |  | Change | Change |
|  |  |  |  | 4Q25 vs | 4Q25 vs |
| *In millions* | 4Q25 | 3Q25 | 4Q24 | 3Q25 | 4Q24 |
| Personnel | $2033 | $1970 | $1857 | 3% | 9% |
| Occupancy | 247 | 235 | 240 | 5% | 3% |
| Equipment | 412 | 416 | 473 | (1)% | (13)% |
| Marketing | 101 | 93 | 112 | 9% | (10)% |
| Other | 810 | 747 | 824 | 8% | (2)% |
| Total noninterest expense | $3603 | $3461 | $3506 | 4% | 3% |

---

Noninterest expense for the fourth quarter of 2025 increased $142 million compared to the third quarter of 2025 and $97 million compared with the fourth quarter of 2024. In both comparisons, the increase was driven by increased business activity. Compared to the third quarter of 2025, the increase also reflected the impact of seasonality.

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 5

The effective tax rate was 12.7% for the fourth quarter of 2025 and reflected favorable resolution of several tax matters. The effective tax rate was 20.3% for the third quarter of 2025 and 14.6% for the fourth quarter of 2024.

**CONSOLIDATED BALANCE SHEET REVIEW** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Loans** |  |  |  | Change | Change |
|  |  |  |  | 4Q25 vs | 4Q25 vs |
| *In billions* | 4Q25 | 3Q25 | 4Q24 | 3Q25 | 4Q24 |
| *Average* |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $191.7 | $189.0 | $177.4 | 1% | 8% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | 30.2 | 30.9 | 34.5 | (2)% | (12)% |
| &nbsp;&nbsp;&nbsp;Equipment lease financing | 7.0 | 6.9 | 6.7 | 1% | 4% |
| Commercial | $228.9 | $226.8 | $218.6 | 1% | 5% |
| Consumer | 99.0 | 99.2 | 100.4 |  | (1)% |
| Average loans | $327.9 | $325.9 | $319.1 | 1% | 3% |
| *Quarter end* |  |  |  |  |  |
| Commercial | $232.5 | $227.4 | $216.2 | 2% | 8% |
| Consumer | 99.0 | 99.2 | 100.3 |  | (1)% |
| Total loans | $331.5 | $326.6 | $316.5 | 2% | 5% |
| *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* |

---

Average loans for the fourth quarter of 2025 increased $2.0 billion compared to the third quarter of 2025 and $8.9 billion compared to the fourth quarter of 2024.

Average commercial loans increased $2.1 billion and $10.3 billion compared to the third quarter of 2025 and the fourth quarter of 2024, respectively, driven by growth in the commercial and industrial portfolio, partially offset by continued runoff in commercial real estate loans.

Average consumer loans were stable compared to the third quarter of 2025 as growth in both the auto and credit card loan portfolios was offset by declines in residential real estate loans. In comparison to the fourth quarter of 2024, average consumer loans decreased due to declines in residential real estate loans, partially offset by growth in the auto loan portfolio.

Loans at December 31, 2025 increased $4.9 billion and $15.0 billion from September 30, 2025 and December 31, 2024, respectively.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Average Investment Securities** | **Average Investment Securities** |  |  | Change | Change |
|  |  |  |  | 4Q25 vs | 4Q25 vs |
| *In billions* | 4Q25 | 3Q25 | 4Q24 | 3Q25 | 4Q24 |
| Available for sale | $69.9 | $69.8 | $63.6 |  | 10% |
| Held to maturity | 72.3 | 74.6 | 80.3 | (3)% | (10)% |
| Total | $142.2 | $144.4 | $143.9 | (2)% | (1)% |
| *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* |

---

Average investment securities of $142.2 billion in the fourth quarter of 2025 decreased $2.2 billion compared to the third quarter of 2025 and $1.6 billion compared to the fourth quarter of 2024. In both comparisons, the decrease reflected net paydowns and maturities in the held-to-maturity portfolio.

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 6

The duration of the investment securities portfolio was 3.5 years as of December 31, 2025, 3.4 years as of September 30, 2025 and 3.5 years as of December 31, 2024. Net unrealized losses on available-for-sale securities were $1.8 billion at December 31, 2025, $2.1 billion at September 30, 2025 and $3.5 billion at December 31, 2024.

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Average Deposits** | **Average Deposits** | **Average Deposits** |  |  |  |  | Change | Change |
|  |  |  |  |  |  |  | 4Q25 vs | 4Q25 vs |
| *In billions* | 4Q25 | 4Q25 | 3Q25 | 3Q25 | 4Q24 | 4Q24 | 3Q25 | 4Q24 |
| Commercial | $| 224.0 | $| 215.1 | $| 211.6 | 4% | 6% |
| Consumer | 210.1 | 210.1 | 209.4 | 209.4 | 205.9 | 205.9 |  | 2% |
| Brokered time deposits | 5.4 | 5.4 | 7.3 | 7.3 | 7.7 | 7.7 | (26)% | (30)% |
| Total | $| 439.5 | $| 431.8 | $| 425.3 | 2% | 3% |
| IB % of total avg. deposits | 78% | 78% | 79% | 79% | 77% | 77% |  |  |
| NIB % of total avg. deposits | 22% | 22% | 21% | 21% | 23% | 23% |  |  |
| *IB - Interest-bearing<br>NIB - Noninterest-bearing* | *IB - Interest-bearing<br>NIB - Noninterest-bearing* | *IB - Interest-bearing<br>NIB - Noninterest-bearing* | *IB - Interest-bearing<br>NIB - Noninterest-bearing* | *IB - Interest-bearing<br>NIB - Noninterest-bearing* | *IB - Interest-bearing<br>NIB - Noninterest-bearing* | *IB - Interest-bearing<br>NIB - Noninterest-bearing* | *IB - Interest-bearing<br>NIB - Noninterest-bearing* | *IB - Interest-bearing<br>NIB - Noninterest-bearing* |
| *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* | *Totals may not sum due to rounding* |

---

Fourth quarter 2025 average deposits of $439.5 billion increased $7.7 billion compared to the third quarter of 2025 and $14.3 billion compared to the fourth quarter of 2024, driven by growth in both commercial and consumer client accounts and activity, partially offset by lower brokered time deposits.

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Average Borrowed Funds** | **Average Borrowed Funds** | **Average Borrowed Funds** |  |  |  |  | Change | Change |
|  |  |  |  |  |  |  | 4Q25 vs | 4Q25 vs |
| *In billions* | 4Q25 | 4Q25 | 3Q25 | 3Q25 | 4Q24 | 4Q24 | 3Q25 | 4Q24 |
| Total | $| 60.3 | $| 66.3 | $| 67.2 | (9)% | (10)% |
| Avg. borrowed funds to avg. liabilities | 12% | 12% | 13% | 13% | 13% | 13% |  |  |

---

Average borrowed funds of $60.3 billion in the fourth quarter of 2025 decreased $6.0 billion compared to the third quarter of 2025 and $6.9 billion compared to the fourth quarter of 2024. In both comparisons, the decrease reflected lower Federal Home Loan Bank advances.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Capital** | December 31, 2025 | December 31, 2025 | September 30, 2025 | September 30, 2025 | December 31, 2024 | December 31, 2024 |
|  | December 31, 2025 | December 31, 2025 | September 30, 2025 | September 30, 2025 | December 31, 2024 | December 31, 2024 |
| Common shareholders' equity *In billions* | $| 54.8 | $| 53.2 | $| 48.7 |
| Accumulated other comprehensive income (loss) <br>*In billions* | $| (3.4) | $| (4.1) | $| (6.6) |
| Basel III common equity tier 1 capital ratio \* | 10.6% | 10.6% | 10.7% | 10.7% | 10.5% | 10.5% |
| *\*December 31, 2025 ratio is estimated. December 31, 2024 ratio reflects PNC's election to adopt the optional five-year CECL transition provision.*  | *\*December 31, 2025 ratio is estimated. December 31, 2024 ratio reflects PNC's election to adopt the optional five-year CECL transition provision.*  | *\*December 31, 2025 ratio is estimated. December 31, 2024 ratio reflects PNC's election to adopt the optional five-year CECL transition provision.*  | *\*December 31, 2025 ratio is estimated. December 31, 2024 ratio reflects PNC's election to adopt the optional five-year CECL transition provision.*  | *\*December 31, 2025 ratio is estimated. December 31, 2024 ratio reflects PNC's election to adopt the optional five-year CECL transition provision.*  | *\*December 31, 2025 ratio is estimated. December 31, 2024 ratio reflects PNC's election to adopt the optional five-year CECL transition provision.*  | *\*December 31, 2025 ratio is estimated. December 31, 2024 ratio reflects PNC's election to adopt the optional five-year CECL transition provision.*  |

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PNC maintained a strong capital position. Common shareholders' equity at December 31, 2025 increased $1.6 billion from September 30, 2025 due to net income and an improvement in accumulated other comprehensive income, partially offset by dividends paid and share repurchases.

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 of negative $3.4 billion at December 31, 2025 improved from negative $4.1 billion at September 30, 2025 and negative $6.6 billion at December 31, 2024. The change in each comparison reflected the

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 7

favorable impact of interest rate movements on securities and swaps and the continued accretion of unrealized losses.

In the fourth quarter of 2025, PNC returned $1.1 billion of capital to shareholders, reflecting $0.7 billion of dividends on common shares and $0.4 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 35% of the 100 million common shares still available for repurchase at December 31, 2025 under the repurchase program previously approved by our board of directors.

Share repurchase activity in the first quarter of 2026 is expected to approximate $600 million to $700 million. PNC may adjust share repurchase activity depending on market and economic conditions, as well as other factors.

PNC's SCB for the four-quarter period beginning October 1, 2025 is the regulatory minimum of 2.5%. On January 5, 2026, the PNC board of directors declared a quarterly cash dividend on common stock of $1.70 per share to be paid on February 5, 2026 to shareholders of record at the close of business January 20, 2026.

At December 31, 2025, 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.

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CREDIT QUALITY REVIEW** | | | | | | | | | | |
| **Credit Quality** |  |  |  |  |  |  | Change | Change | Change | Change |
|  | December 31, 2025 | December 31, 2025 | September 30, 2025 | September 30, 2025 | December 31, 2024 | December 31, 2024 | 12/31/25 vs | 12/31/25 vs | 12/31/25 vs | 12/31/25 vs |
| *In millions* | December 31, 2025 | December 31, 2025 | September 30, 2025 | September 30, 2025 | December 31, 2024 | December 31, 2024 | 09/30/25 | 09/30/25 | 12/31/24 | 12/31/24 |
| Provision for credit losses (a) | $| 139 | $| 167 | $| 156 | $| (28) | $| (17) |
| Net loan charge-offs (a) | $| 162 | $| 179 | $| 250 | (9)% | (9)% | (35)% | (35)% |
| Allowance for credit losses (b) | $| 5228 | $| 5253 | $| 5205 |  |  |  |  |
| Total delinquencies (c) | $| 1443 | $| 1233 | $| 1382 | 17% | 17% | 4% | 4% |
| Nonperforming loans | $| 2218 | $| 2137 | $| 2326 | 4% | 4% | (5)% | (5)% |
| Net charge-offs to average loans (annualized) | 0.20% | 0.20% | 0.22% | 0.22% | 0.31% | 0.31% |  |  |  |  |
| Allowance for credit losses to total loans | 1.58% | 1.58% | 1.61% | 1.61% | 1.64% | 1.64% |  |  |  |  |
| Nonperforming loans to total loans | 0.67% | 0.67% | 0.65% | 0.65% | 0.73% | 0.73% |  |  |  |  |
| *(a) Represents amounts for the three months ended for each respective period*<br>*(b) Excludes allowances for investment securities and other financial assets*<br>*(c) Total delinquencies represent accruing loans 30 days or more past due* | *(a) Represents amounts for the three months ended for each respective period*<br>*(b) Excludes allowances for investment securities and other financial assets*<br>*(c) Total delinquencies represent accruing loans 30 days or more past due* | *(a) Represents amounts for the three months ended for each respective period*<br>*(b) Excludes allowances for investment securities and other financial assets*<br>*(c) Total delinquencies represent accruing loans 30 days or more past due* | *(a) Represents amounts for the three months ended for each respective period*<br>*(b) Excludes allowances for investment securities and other financial assets*<br>*(c) Total delinquencies represent accruing loans 30 days or more past due* | *(a) Represents amounts for the three months ended for each respective period*<br>*(b) Excludes allowances for investment securities and other financial assets*<br>*(c) Total delinquencies represent accruing loans 30 days or more past due* | *(a) Represents amounts for the three months ended for each respective period*<br>*(b) Excludes allowances for investment securities and other financial assets*<br>*(c) Total delinquencies represent accruing loans 30 days or more past due* | *(a) Represents amounts for the three months ended for each respective period*<br>*(b) Excludes allowances for investment securities and other financial assets*<br>*(c) Total delinquencies represent accruing loans 30 days or more past due* | *(a) Represents amounts for the three months ended for each respective period*<br>*(b) Excludes allowances for investment securities and other financial assets*<br>*(c) Total delinquencies represent accruing loans 30 days or more past due* | *(a) Represents amounts for the three months ended for each respective period*<br>*(b) Excludes allowances for investment securities and other financial assets*<br>*(c) Total delinquencies represent accruing loans 30 days or more past due* | *(a) Represents amounts for the three months ended for each respective period*<br>*(b) Excludes allowances for investment securities and other financial assets*<br>*(c) Total delinquencies represent accruing loans 30 days or more past due* | *(a) Represents amounts for the three months ended for each respective period*<br>*(b) Excludes allowances for investment securities and other financial assets*<br>*(c) Total delinquencies represent accruing loans 30 days or more past due* |

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Provision for credit losses was $139 million in the fourth quarter of 2025, $167 million in the third quarter of 2025 and $156 million in the fourth quarter of 2024.

Net loan charge-offs were $162 million in the fourth quarter of 2025, decreasing $17 million compared to the third quarter of 2025 due to lower consumer and commercial net loan charge-offs. Compared to the fourth quarter of 2024, net loan charge-offs decreased $88 million driven by lower commercial real estate net loan charge-offs.

The allowance for credit losses was $5.2 billion at December 31, 2025 as well as at December 31, 2024, and $5.3 billion at September 30, 2025. The allowance for credit losses as a percentage of total loans was 1.58% at December 31, 2025, 1.61% at September 30, 2025 and 1.64% at December 31, 2024.

Delinquencies at December 31, 2025 were $1.4 billion, increasing $210 million from September 30, 2025, due to higher commercial and consumer loan delinquencies. Compared to December 31, 2024, delinquencies

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 8

increased $61 million as a result of higher commercial loan delinquencies, partially offset by lower consumer loan delinquencies.

Nonperforming loans were $2.2 billion at December 31, 2025 increasing $81 million compared to September 30, 2025 as higher commercial and industrial nonperforming loans more than offset declines in commercial real estate nonperforming loans. Compared to December 31, 2024, nonperforming loans decreased $108 million driven by lower commercial real estate nonperforming loans.

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| | | | |
|:---|:---|:---|:---|
| **BUSINESS SEGMENT RESULTS** | | | |
| **Business Segment Income (Loss)** | | | |
| *In millions* | 4Q25 | 3Q25 | 4Q24 |
| Retail Banking | $1241 | $1324 | $1083 |
| Corporate & Institutional Banking | 1514 | 1459 | 1365 |
| Asset Management Group | 121 | 117 | 95 |
| Other | (856) | (1092) | (933) |
| Net income excluding noncontrolling interests | $2020 | $1808 | $1610 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Retail Banking** |  |  |  | Change | Change |
|  |  |  |  | 4Q25 vs | 4Q25 vs |
| *In millions* | 4Q25 | 3Q25 | 4Q24 | 3Q25 | 4Q24 |
| Net interest income | $2989 | $3016 | $2834 | $(27) | $155 |
| Noninterest income | $770 | $790 | $708 | $(20) | $62 |
| Noninterest expense | $1977 | $1941 | $2010 | $36 | $(33) |
| Provision for credit losses | $155 | $126 | $106 | $29 | $49 |
| Earnings | $1241 | $1324 | $1083 | $(83) | $158 |
| *In billions* |  |  |  |  |  |
| Average loans | $97.0 | $96.9 | $98.6 | $0.1 | $(1.6) |
| Average deposits | $244.1 | $243.3 | $239.5 | $0.8 | $4.6 |
| Net loan charge-offs *In millions*  | $116 | $126 | $152 | $(10) | $(36) |
| *During the second quarter of 2025, certain operations were transferred into and out of the Retail Banking segment to better align products, services and operations with the appropriate business segment. Prior period results have been adjusted to conform with the current presentation. See a description of each change in the footnotes to table 16 in the Financial Supplement.* | *During the second quarter of 2025, certain operations were transferred into and out of the Retail Banking segment to better align products, services and operations with the appropriate business segment. Prior period results have been adjusted to conform with the current presentation. See a description of each change in the footnotes to table 16 in the Financial Supplement.* | *During the second quarter of 2025, certain operations were transferred into and out of the Retail Banking segment to better align products, services and operations with the appropriate business segment. Prior period results have been adjusted to conform with the current presentation. See a description of each change in the footnotes to table 16 in the Financial Supplement.* | *During the second quarter of 2025, certain operations were transferred into and out of the Retail Banking segment to better align products, services and operations with the appropriate business segment. Prior period results have been adjusted to conform with the current presentation. See a description of each change in the footnotes to table 16 in the Financial Supplement.* | *During the second quarter of 2025, certain operations were transferred into and out of the Retail Banking segment to better align products, services and operations with the appropriate business segment. Prior period results have been adjusted to conform with the current presentation. See a description of each change in the footnotes to table 16 in the Financial Supplement.* | *During the second quarter of 2025, certain operations were transferred into and out of the Retail Banking segment to better align products, services and operations with the appropriate business segment. Prior period results have been adjusted to conform with the current presentation. See a description of each change in the footnotes to table 16 in the Financial Supplement.* |

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**Retail Banking Highlights**

*Fourth quarter 2025 compared with third quarter 2025*

▪ Earnings decreased 6%, primarily due to higher noninterest expense and a higher provision for credit losses as well as lower net interest income and noninterest income.

–Noninterest income decreased 3%, primarily reflecting lower residential mortgage servicing rights valuation, net of economic hedge.

–Noninterest expense increased 2%, and included the impact of seasonality and technology investments.

–Provision for credit losses of $155 million in the fourth quarter of 2025 reflected portfolio activity.

▪ Average loans were stable as growth in the auto, commercial and credit card loan portfolios was offset by lower residential real estate loans.

▪ Average deposits were stable.

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 9

*Fourth quarter 2025 compared with fourth quarter 2024*

▪ Earnings increased 15%, driven by higher net interest income and noninterest income as well as lower noninterest expense, partially offset by a higher provision for credit losses.

–Noninterest income increased 9%, primarily due to higher residential mortgage revenue and increased credit card and brokerage fees.

–Noninterest expense decreased 2%, primarily due to asset impairments recognized in the fourth quarter of 2024.

▪ Average loans decreased 2%, as growth in the auto loan portfolio was more than offset by lower residential real estate and commercial loans.

▪ Average deposits increased 2%, primarily due to higher consumer time, money market and savings deposits.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Corporate & Institutional Banking** |  |  |  | Change | Change |
|  |  |  |  | 4Q25 vs | 4Q25 vs |
| *In millions* | 4Q25 | 3Q25 | 4Q24 | 3Q25 | 4Q24 |
| Net interest income | $1856 | $1777 | $1688 | $79 | $168 |
| Noninterest income | $1210 | $1132 | $1067 | $78 | $143 |
| Noninterest expense | $1107 | $976 | $981 | $131 | $126 |
| Provision for credit losses | $14 | $44 | $44 | $(30) | $(30) |
| Earnings | $1514 | $1459 | $1365 | $55 | $149 |
| *In billions* |  |  |  |  |  |
| Average loans | $214.6 | $212.5 | $203.7 | $2.1 | $10.9 |
| Average deposits | $163.8 | $155.2 | $151.3 | $8.6 | $12.5 |
| Net loan charge-offs *In millions*  | $49 | $53 | $100 | $(4) | $(51) |

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**Corporate & Institutional Banking Highlights**

*Fourth quarter 2025 compared with third quarter 2025*

▪ Earnings increased 4%, reflecting 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%, driven by higher merger and acquisition advisory activity.

–Noninterest expense increased 13%, primarily due to higher variable compensation associated with increased business activity.

▪ Average loans increased 1%, driven by growth in PNC's corporate banking business, partially offset by a decline in the PNC real estate business.

▪ Average deposits increased 6%, reflecting growth in corporate client accounts and activity.

*Fourth quarter 2025 compared with fourth quarter 2024*

▪ Earnings increased 11%, 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 13%, driven by higher capital markets and advisory fees, including increased merger and acquisition advisory fees, and growth in treasury management product revenue.

–Noninterest expense increased 13%, reflecting higher variable compensation associated with increased business activity.

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 10

▪ Average loans increased 5%, driven by growth in PNC's corporate banking and business credit businesses, partially offset by a decline in the PNC real estate business.

▪ Average deposits increased 8%, reflecting growth in corporate client accounts and activity.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Asset Management Group** |  |  |  | Change | Change |
|  |  |  |  | 4Q25 vs | 4Q25 vs |
| *In millions* | 4Q25 | 3Q25 | 4Q24 | 3Q25 | 4Q24 |
| Net interest income | $180 | $176 | $161 | $4 | $19 |
| Noninterest income | $260 | $254 | $242 | $6 | $18 |
| Noninterest expense | $293 | $273 | $277 | $20 | $16 |
| Provision for (recapture of) credit losses | $(11) | $4 | $2 | $(15) | $(13) |
| Earnings | $121 | $117 | $95 | $4 | $26 |
| *In billions*  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Discretionary client assets under management | $234 | $228 | $211 | $6 | $23 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nondiscretionary client assets under administration | $238 | $212 | $210 | $26 | $28 |
| Client assets under administration at quarter end | $472 | $440 | $421 | $32 | $51 |
| *In billions* |  |  |  |  |  |
| Average loans | $14.1 | $14.2 | $14.1 | $(0.1) |  |
| Average deposits | $27.0 | $26.9 | $27.2 | $0.1 | $(0.2) |
| Net loan charge-offs (recoveries) *In millions*  |  | $2 | $2 | $(2) | $(2) |
| *During the second quarter of 2025, certain loans and deposits, and the associated income statement impact, were transferred from the Asset Management Group to Retail Banking to better align products and services with the appropriate business segment. Prior periods have been adjusted to conform with the current presentation.*  | *During the second quarter of 2025, certain loans and deposits, and the associated income statement impact, were transferred from the Asset Management Group to Retail Banking to better align products and services with the appropriate business segment. Prior periods have been adjusted to conform with the current presentation.*  | *During the second quarter of 2025, certain loans and deposits, and the associated income statement impact, were transferred from the Asset Management Group to Retail Banking to better align products and services with the appropriate business segment. Prior periods have been adjusted to conform with the current presentation.*  | *During the second quarter of 2025, certain loans and deposits, and the associated income statement impact, were transferred from the Asset Management Group to Retail Banking to better align products and services with the appropriate business segment. Prior periods have been adjusted to conform with the current presentation.*  | *During the second quarter of 2025, certain loans and deposits, and the associated income statement impact, were transferred from the Asset Management Group to Retail Banking to better align products and services with the appropriate business segment. Prior periods have been adjusted to conform with the current presentation.*  | *During the second quarter of 2025, certain loans and deposits, and the associated income statement impact, were transferred from the Asset Management Group to Retail Banking to better align products and services with the appropriate business segment. Prior periods have been adjusted to conform with the current presentation.*  |

---

**Asset Management Group Highlights**

*Fourth quarter 2025 compared with third quarter 2025*

▪ Earnings increased 3%, due to a provision recapture as well as higher noninterest income and net interest income, partially offset by increased noninterest expense.

–Noninterest income increased 2%, primarily driven by higher average equity markets and positive net flows.

–Noninterest expense increased 7%, and included higher variable compensation associated with increased business activity.

▪ Discretionary client assets under management increased 3%, and included positive net flows and higher spot equity markets.

▪ Average loans and deposits were stable.

*Fourth quarter 2025 compared with fourth quarter 2024*

▪ Earnings increased 27%, due to higher net interest income and noninterest income, as well as a provision recapture, partially offset by higher noninterest expense.

–Noninterest income increased 7%, reflecting higher average equity markets.

–Noninterest expense increased 6%, due to continued investments to support business growth.

▪ Discretionary client assets under management increased 11%, driven by higher spot equity markets and positive net flows.

▪ Average loans and deposits were stable.

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 11

**Other**

The "Other" category, for the purposes of this release, includes residual activities 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 9:00 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 fourth quarter 2025 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 30 days at (877) 660-6853 and (201) 612-7415 (international), Access ID 13753963 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:** |
| Kristen Pillitteri | Bryan Gill |
| (412) 762-4550 | (412) 768-4143 |
| <u>media.relations@pnc.com</u> | <u>investor.relations@pnc.com</u> |

---

[TABULAR MATERIAL FOLLOWS]

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 12

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **The PNC Financial Services Group, Inc.** | **Consolidated Financial Highlights** (Unaudited) | **Consolidated Financial Highlights** (Unaudited) | **Consolidated Financial Highlights** (Unaudited) | **Consolidated Financial Highlights** (Unaudited) | **Consolidated Financial Highlights** (Unaudited) |
| **FINANCIAL RESULTS** | Three months ended | Three months ended | Three months ended | Year ended | Year ended |
| *Dollars in millions, except per share data* | December 31 | September 30 | December 31 | December 31 | December 31 |
|  | 2025 | 2025 | 2024 | 2025 | 2024 |
| Revenue |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net interest income | 3731 | 3648 | 3523 | 14410 | 13499 |
| &nbsp;&nbsp;&nbsp;Noninterest income | 2340 | 2267 | 2044 | 8689 | 8056 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 6071 | 5915 | 5567 | 23099 | 21555 |
| Provision for credit losses | 139 | 167 | 156 | 779 | 789 |
| Noninterest expense | 3603 | 3461 | 3506 | 13834 | 13524 |
| Income before income taxes and noncontrolling interests | 2329 | 2287 | 1905 | 8486 | 7242 |
| Income taxes | 296 | 465 | 278 | 1489 | 1289 |
| Net income | 2033 | 1822 | 1627 | 6997 | 5953 |
| Less: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income attributable to noncontrolling interests | 13 | 14 | 17 | 61 | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock dividends (a) | 83 | 71 | 94 | 308 | 352 |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock discount accretion and redemptions | 3 | 2 | 2 | 9 | 8 |
| Net income attributable to common shareholders | 1934 | 1735 | 1514 | 6619 | 5529 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Dividends and undistributed earnings allocated to nonvested restricted shares | 12 | 12 | 9 | 43 | 33 |
| Net income attributable to diluted common shareholders | 1922 | 1723 | 1505 | 6576 | 5496 |
| **Per Common Share** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 4.88 | 4.36 | 3.77 | 16.60 | 13.76 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 4.88 | 4.35 | 3.77 | 16.59 | 13.74 |
| Cash dividends declared per common share | 1.70 | 1.70 | 1.60 | 6.60 | 6.30 |
| Effective tax rate (b) | 12.7% | 20.3% | 14.6% | 17.5% | 17.8% |
| **PERFORMANCE RATIOS** |  |  |  |  |  |
| Net interest margin (c) | 2.84% | 2.79% | 2.75% | 2.83% | 2.66% |
| Noninterest income to total revenue | 39% | 38% | 37% | 38% | 37% |
| Efficiency (d) | 59% | 59% | 63% | 60% | 63% |
| Return on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Average common shareholders' equity | 14.33% | 13.24% | 12.38% | 12.90% | 11.92% |
| &nbsp;&nbsp;&nbsp;Average assets | 1.40% | 1.27% | 1.14% | 1.24% | 1.05% |

---

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

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

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 13

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| | | | |
|:---|:---|:---|:---|
| **The PNC Financial Services Group, Inc.** | **Consolidated Financial Highlights** (Unaudited) | **Consolidated Financial Highlights** (Unaudited) | **Consolidated Financial Highlights** (Unaudited) |
|  | December 31 | September 30 | December 31 |
|  | 2025 | 2025 | 2024 |
| **BALANCE SHEET DATA** |  |  |  |
| *Dollars in millions, except per share data and as noted* |  |  |  |
| Assets | $573572 | $568767 | $560038 |
| Loans (a) | $331481 | $326616 | $316467 |
| Allowance for loan and lease losses | $4410 | $4478 | $4486 |
| Interest-earning deposits with banks | $32936 | $33318 | $39347 |
| Investment securities | $138240 | $141523 | $139732 |
| Total deposits (a) | $440866 | $432749 | $426738 |
| Borrowed funds (a) | $57101 | $62344 | $61673 |
| Allowance for unfunded lending related commitments | $818 | $775 | $719 |
| Total shareholders' equity | $60585 | $58990 | $54425 |
| Common shareholders' equity | $54828 | $53235 | $48676 |
| Accumulated other comprehensive income (loss) | $(3408) | $(4077) | $(6565) |
| Book value per common share | $140.44 | $135.67 | $122.94 |
| Tangible book value per common share *(non-GAAP)* (b) | $112.51 | $107.84 | $95.33 |
| Period end common shares outstanding *(In millions)* | 390 | 392 | 396 |
| Loans to deposits | 75% | 75% | 74% |
| Common shareholders' equity to total assets | 9.6% | 9.4% | 8.7% |
| **CLIENT ASSETS (In billions)** |  |  |  |
| Discretionary client assets under management | $234 | $228 | $211 |
| Nondiscretionary client assets under administration | 238 | 212 | 210 |
| Total client assets under administration | 472 | 440 | 421 |
| Brokerage account client assets | 94 | 92 | 86 |
| Total client assets | $566 | $532 | $507 |
| **CAPITAL RATIOS** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Basel III (c) (d)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common equity tier 1 | 10.6% | 10.7% | 10.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 risk-based | 11.9% | 12.0% | 11.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total capital risk-based | 13.5% | 13.6% | 13.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Leverage | 9.4% | 9.2% | 9.0% |
| &nbsp;&nbsp;&nbsp; Supplementary leverage | 7.6% | 7.5% | 7.5% |
| **ASSET QUALITY** |  |  |  |
| Nonperforming loans to total loans | 0.67% | 0.65% | 0.73% |
| Nonperforming assets to total loans, OREO, foreclosed and other assets (e) | 0.71% | 0.70% | 0.74% |
| Nonperforming assets to total assets | 0.41% | 0.40% | 0.42% |
| Net charge-offs to average loans (for the three months ended) (annualized) | 0.20% | 0.22% | 0.31% |
| Allowance for loan and lease losses to total loans | 1.33% | 1.37% | 1.42% |
| Allowance for credit losses to total loans (f) | 1.58% | 1.61% | 1.64% |
| Allowance for loan and lease losses to nonperforming loans | 199% | 210% | 193% |
| Total delinquencies *(In millions)* (g) | $1443 | $1233 | $1382 |

---

(a)Amounts include assets and liabilities for which we have elected the fair value option. Our 2025 Form 10-Qs included, and our 2025 Form 10-K will include, additional information regarding these Consolidated Balance Sheet line items.

(b)See the Tangible Book Value per Common Share table on page [15](#i500bc4ea7f3c473a85eae8d843b5bbc2_148) 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 [14](#i500bc4ea7f3c473a85eae8d843b5bbc2_130) for additional information. The ratios as of December 31, 2025 are estimated.

(d)The December 31, 2024 ratios are calculated to reflect PNC's election to adopt the CECL optional five-year transition provisions.

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

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

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

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 14

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

**CAPITAL RATIOS**

PNC's regulatory risk-based capital ratios in 2025 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.

PNC elected a five-year transition provision effective March 31, 2020 to delay until December 31, 2021 the full impact of the CECL standard on regulatory capital, followed by a three-year transition period. Effective for the first quarter of 2022, PNC entered a three-year transition period, and the full impact of the CECL standard was phased-in to regulatory capital through December 31, 2024. Beginning in the first quarter of 2025, CECL is fully reflected in regulatory capital. See the table below for the September 30, 2025, December 31, 2024 and estimated December 31, 2025 ratios.

Our Basel III capital ratios may be impacted by changes to the regulatory capital rules and additional regulatory guidance or analysis.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ***Basel lll Common Equity Tier 1 Capital Ratios (a)*** | ***Basel lll Common Equity Tier 1 Capital Ratios (a)*** | ***Basel lll Common Equity Tier 1 Capital Ratios (a)*** | | | | | |  |  |
|  | Basel III | Basel III | Basel III | Basel III | Basel III | Basel III | Basel III |  |  |
|  | December 31<br>2025 <br>(estimated) | December 31<br>2025 <br>(estimated) |  | September 30<br>2025 | September 30<br>2025 | December 31<br> 2024 | December 31<br> 2024 |  |  |
|  | December 31<br>2025 <br>(estimated) | December 31<br>2025 <br>(estimated) |  | September 30<br>2025 | September 30<br>2025 | December 31<br> 2024 | December 31<br> 2024 |  |  |
| *Dollars in millions* | December 31<br>2025 <br>(estimated) | December 31<br>2025 <br>(estimated) |  | September 30<br>2025 | September 30<br>2025 | December 31<br> 2024 | December 31<br> 2024 |  |  |
| Common stock, related surplus and retained earnings, net of treasury stock | December 31<br>2025 <br>(estimated) | December 31<br>2025 <br>(estimated) | $58235 | September 30<br>2025 | September 30<br>2025 | December 31<br> 2024 | December 31<br> 2024 | $57312.0 | $55483.0 |
| Less regulatory capital adjustments: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Goodwill and disallowed intangibles, net of deferred tax liabilities | (10901) | (10901) |  | (10920) | (10920) | (10930) | (10930) |  |  |
| &nbsp;&nbsp;&nbsp;All other adjustments | (76) | (76) |  | (71) | (71) | (86) | (86) |  |  |
| Basel III Common equity tier 1 capital | $| 47258 |  | $| 46321 | $| 44467 |  |  |
| Basel III standardized approach risk-weighted assets (b) | $| 444551 |  | $| 434712 | $| 422399 |  |  |
| Basel III Common equity tier 1 capital ratio (c) | 10.6% | 10.6% |  | 10.7% | 10.7% | 10.5% | 10.5% |  |  |

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(a)All ratios are calculated using the regulatory capital methodology applicable to PNC during each period presented.

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

(c)The December 31, 2024 ratio is calculated to reflect PNC's election to adopt the CECL optional five-year transition provisions.

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 15

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

**NON-GAAP MEASURES**

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| | | | | |
|:---|:---|:---|:---|:---|
| ***Fee Income (non-GAAP)*** | Three months ended | Three months ended | Year ended | Year ended |
|  | December 31 | September 30 | December 31 | December 31 |
| *Dollars in millions* | 2025 | 2025 | 2025 | 2024 |
| Noninterest income |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset management and brokerage | $411 | $404 | $1597 | $1485 |
| &nbsp;&nbsp;&nbsp;Capital markets and advisory | 489 | 432 | 1548 | 1250 |
| &nbsp;&nbsp;&nbsp;Card and cash management | 733 | 737 | 2899 | 2770 |
| &nbsp;&nbsp;&nbsp;Lending and deposit services | 342 | 335 | 1310 | 1259 |
| &nbsp;&nbsp;&nbsp;Residential and commercial mortgage | 148 | 161 | 571 | 581 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fee income *(non-GAAP)* | $2123 | $2069 | $7925 | $7345 |
| &nbsp;&nbsp;&nbsp;Other income | 217 | 198 | 764 | 711 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | $2340 | $2267 | $8689 | $8056 |

---

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.

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| | | | | |
|:---|:---|:---|:---|:---|
| ***Pretax Pre-Provision Earnings (non-GAAP)*** | Three months ended | Three months ended | Year ended | Year ended |
|  | December 31 | September 30 | December 31 | December 31 |
| *Dollars in millions* | 2025 | 2025 | 2025 | 2024 |
| Income before income taxes and noncontrolling interests | $2329 | $2287 | $8486 | $7242 |
| Provision for credit losses | 139 | 167 | 779 | 789 |
| Pretax pre-provision earnings *(non-GAAP)* | $2468 | $2454 | $9265 | $8031 |

---

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.

---

| | | | |
|:---|:---|:---|:---|
| ***Tangible Book Value per Common Share (non-GAAP)*** | | | |
|  | December 31 | September 30 | December 31 |
| *Dollars in millions, except per share data* | 2025 | 2025 | 2024 |
| Book value per common share | $140.44 | $135.67 | $122.94 |
| Tangible book value per common share |  |  |  |
| &nbsp;&nbsp;&nbsp;Common shareholders' equity | $54828 | $53235 | $48676 |
| &nbsp;&nbsp;&nbsp;Goodwill and other intangible assets | (11138) | (11163) | (11171) |
| &nbsp;&nbsp;&nbsp;Deferred tax liabilities on goodwill and other intangible assets | 237 | 243 | 241 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible common shareholders' equity | $43927 | $42315 | $37746 |
| Period-end common shares outstanding *(In millions)*  | 390 | 392 | 396 |
| Tangible book value per common share *(non-GAAP)* | $112.51 | $107.84 | $95.33 |

---

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.

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 16

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

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| | | | | |
|:---|:---|:---|:---|:---|
| ***Taxable-Equivalent Net Interest Income (non-GAAP)*** | Three months ended | Three months ended | Year ended | Year ended |
|  | December 31 | September 30 | December 31 | December 31 |
| *Dollars in millions* | 2025 | 2025 | 2025 | 2024 |
| Net interest income | $3731 | $3648 | $14410 | $13499 |
| Taxable-equivalent adjustments | 31 | 30 | 117 | 131 |
| Net interest income *(Fully Taxable-Equivalent - FTE) (non-GAAP)* | $3762 | $3678 | $14527 | $13630 |

---

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 Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 17

**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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 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, but slower economic growth in 2026 than in 2024 and 2025. Tariffs remain a drag on consumer spending and business investment, while AI-related capex and wealth effects have been key supports to growth. Consumer spending growth is slowing to a pace more consistent with household income growth. The One Big Beautiful Bill will be a net positive for economic growth in 2026.

- &nbsp;&nbsp;&nbsp;&nbsp;The baseline forecast anticipates real GDP growth slowing to around 2% in 2026, with continued modest job gains and the unemployment rate at around 4.5%. Tariffs remain a risk to the outlook, and a reversal in sentiment around AI or a large decline in equity prices would be drags. Weaker labor force growth could lead to weaker long-run growth.

–Our baseline forecast is for the Federal Reserve to go on hold at the upcoming January meeting and stay on hold for the first half of this year. We expect modest additional easing in the second half of the year and expect 25 basis points cuts at the Federal Open Market Committee meetings in July and September 2026, resulting in a federal funds rate in the range of 3.00% to 3.25% by the fall. However, there are two-sided risks to this outlook: (1) if inflation re-accelerates or proves more persistent than expected, the Federal Reserve may cut less or (2) if growth falters or recession emerges, easing could be deeper and more prolonged.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 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.

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PNC Reports Full Year 2025 Net Income of $7.0 Billion, $16.59 Diluted EPS – Page 18

**Cautionary Statement Regarding Forward-Looking Information (Continued)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 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

**Exhibit 99.2**

![logo3a.jpg](logo3a.jpg)

**THE PNC FINANCIAL SERVICES GROUP, INC.** 

**FINANCIAL SUPPLEMENT**

**FOURTH QUARTER 2025** 

**(Unaudited)**

------

**THE PNC FINANCIAL SERVICES GROUP, INC.**

**FINANCIAL SUPPLEMENT**

**FOURTH QUARTER 2025**

**(UNAUDITED)**

---

| | |
|:---|:---|
| Consolidated Results: | &nbsp;&nbsp;<u>Page</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Income Statement](#i58917452a8194fd0b2905553999d182b_10)</u> | &nbsp;&nbsp;[1](#i58917452a8194fd0b2905553999d182b_10) |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Balance Sheet](#i58917452a8194fd0b2905553999d182b_13)</u> | [2](#i58917452a8194fd0b2905553999d182b_13) |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Average Balance Sheet](#i58917452a8194fd0b2905553999d182b_16)</u> | &nbsp;&nbsp;[3](#i58917452a8194fd0b2905553999d182b_16) |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Details of Net Interest Margin](#i58917452a8194fd0b2905553999d182b_19)</u> | &nbsp;&nbsp;[4](#i58917452a8194fd0b2905553999d182b_19) |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Loans](#i58917452a8194fd0b2905553999d182b_25)</u> | &nbsp;&nbsp;[5](#i58917452a8194fd0b2905553999d182b_25) |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Allowance for Credit Losses](#i58917452a8194fd0b2905553999d182b_28)</u> | &nbsp;&nbsp;[6](#i58917452a8194fd0b2905553999d182b_28)-7 |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Nonperforming Assets](#i58917452a8194fd0b2905553999d182b_37)</u> | &nbsp;&nbsp;[8](#i58917452a8194fd0b2905553999d182b_37) |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Accruing Loans Past Due](#i58917452a8194fd0b2905553999d182b_43)</u> | &nbsp;&nbsp;[9](#i58917452a8194fd0b2905553999d182b_43)-11 |
| Business Segment Results: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Descriptions](#i58917452a8194fd0b2905553999d182b_55)</u> | [12](#i58917452a8194fd0b2905553999d182b_55) |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Period End Employees](#i58917452a8194fd0b2905553999d182b_58)</u> | &nbsp;&nbsp;[12](#i58917452a8194fd0b2905553999d182b_58) |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Net Income and Revenue](#i58917452a8194fd0b2905553999d182b_61)</u> | &nbsp;&nbsp;[13](#i58917452a8194fd0b2905553999d182b_61) |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Retail Banking](#i58917452a8194fd0b2905553999d182b_64)</u> | [14](#i58917452a8194fd0b2905553999d182b_64)-15 |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Corporate & Institutional Banking](#i58917452a8194fd0b2905553999d182b_67)</u> | &nbsp;&nbsp;[16](#i58917452a8194fd0b2905553999d182b_67)-17 |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Asset Management Group](#i58917452a8194fd0b2905553999d182b_70)</u> | &nbsp;&nbsp;[18](#i58917452a8194fd0b2905553999d182b_70) |
| <u>[Glossary of Terms](#i58917452a8194fd0b2905553999d182b_73)</u> | [19](#i58917452a8194fd0b2905553999d182b_73)-20 |

---

The information contained in this Financial Supplement is preliminary, unaudited and based on data available on January 16, 2026. This information speaks only as of the particular date or dates included in the schedules. We do not undertake any obligation to, and disclaim any duty to, correct or update any of the information provided in this Financial Supplement. Our future financial performance is subject to risks and uncertainties as described in our United States Securities and Exchange Commission (SEC) filings.

***BUSINESS***

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

***ACQUISITION OF FIRSTBANK HOLDING COMPANY***

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

------

---

| | | |
|:---|:---|:---|
| **THE PNC FINANCIAL SERVICES GROUP, INC.** | **THE PNC FINANCIAL SERVICES GROUP, INC.** | |
| **Cross Reference Index to Fourth Quarter 2025 Financial Supplement (Unaudited)** | **Cross Reference Index to Fourth Quarter 2025 Financial Supplement (Unaudited)** | **Cross Reference Index to Fourth Quarter 2025 Financial Supplement (Unaudited)** |
| Financial Supplement Table Reference | Financial Supplement Table Reference | Financial Supplement Table Reference |
| **<u>Table</u>** | **<u>Description</u>** | **<u>Page</u>** |
| 1 | <u>[Consolidated Income Statement](#i58917452a8194fd0b2905553999d182b_10)</u> | [1](#i58917452a8194fd0b2905553999d182b_10) |
| 2 | <u>[Consolidated Balance Sheet](#i58917452a8194fd0b2905553999d182b_13)</u> | [2](#i58917452a8194fd0b2905553999d182b_13) |
| 3 | <u>[Average Consolidated Balance Sheet](#i58917452a8194fd0b2905553999d182b_16)</u> | [3](#i58917452a8194fd0b2905553999d182b_16) |
| 4 | <u>[Details of Net Interest Margin](#i58917452a8194fd0b2905553999d182b_19)</u> | [4](#i58917452a8194fd0b2905553999d182b_19) |
| 5 | <u>[Details of Loans](#i58917452a8194fd0b2905553999d182b_25)</u> | [5](#i58917452a8194fd0b2905553999d182b_25) |
| 6 | <u>[Change in Allowance for Loan and Lease Losses](#i58917452a8194fd0b2905553999d182b_28)</u> | [6](#i58917452a8194fd0b2905553999d182b_28) |
| 7 | <u>[Components of the Provision for Credit Losses](#i58917452a8194fd0b2905553999d182b_31)</u> | [7](#i58917452a8194fd0b2905553999d182b_31) |
| 8 | <u>[Allowance for Credit Losses by Loan Class](#i58917452a8194fd0b2905553999d182b_34)</u> | [7](#i58917452a8194fd0b2905553999d182b_34) |
| 9 | <u>[Nonperforming Assets by Type](#i58917452a8194fd0b2905553999d182b_37)</u> | [8](#i58917452a8194fd0b2905553999d182b_37) |
| 10 | <u>[Change in Nonperforming Assets](#i58917452a8194fd0b2905553999d182b_40)</u> | [8](#i58917452a8194fd0b2905553999d182b_40) |
| 11 | <u>[Accruing Loans Past Due 30 to 59 Days](#i58917452a8194fd0b2905553999d182b_43)</u> | [9](#i58917452a8194fd0b2905553999d182b_43) |
| 12 | <u>[Accruing Loans Past Due 60 to 89 Days](#i58917452a8194fd0b2905553999d182b_46)</u> | [10](#i58917452a8194fd0b2905553999d182b_46) |
| 13 | <u>[Accruing Loans Past Due 90 Days or More](#i58917452a8194fd0b2905553999d182b_49)</u> | [11](#i58917452a8194fd0b2905553999d182b_49) |
| 14 | <u>[Period End Employees](#i58917452a8194fd0b2905553999d182b_58)</u> | [12](#i58917452a8194fd0b2905553999d182b_58) |
| 15 | <u>[Summary of Business Segment Net Income and Revenue](#i58917452a8194fd0b2905553999d182b_61)</u> | [13](#i58917452a8194fd0b2905553999d182b_61) |
| 16 | <u>[Retail Banking](#i58917452a8194fd0b2905553999d182b_64)</u> | [14](#i58917452a8194fd0b2905553999d182b_64)-15 |
| 17 | <u>[Corporate & Institutional Banking](#i58917452a8194fd0b2905553999d182b_67)</u> | [16](#i58917452a8194fd0b2905553999d182b_67)-17 |
| 18 | <u>[Asset Management Group](#i58917452a8194fd0b2905553999d182b_70)</u> | [18](#i58917452a8194fd0b2905553999d182b_70) |

---

------

---

| | |
|:---|:---|
| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 1 |

---

**Table 1: Consolidated Income Statement (Unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Year ended* | *Year ended* |
|  | December 31 | September 30 | June 30 | March 31 | December 31 | December 31 | December 31 |
| *<u>In millions, except per share data</u>* | 2025 | 2025 | 2025 | 2025 | 2024 | 2025 | 2024 |
| **Interest Income** |  |  |  |  |  |  |  |
| Loans | 4640 | 4751 | 4609 | 4472 | 4731 | 18472 | 19346 |
| Investment securities | 1188 | 1211 | 1151 | 1124 | 1142 | 4674 | 4123 |
| Other | 552 | 565 | 510 | 534 | 621 | 2161 | 2915 |
| &nbsp;&nbsp;&nbsp;Total interest income | 6380 | 6527 | 6270 | 6130 | 6494 | 25307 | 26384 |
| **Interest Expense** |  |  |  |  |  |  |  |
| Deposits | 1864 | 1980 | 1845 | 1808 | 2010 | 7497 | 8401 |
| Borrowed funds | 785 | 899 | 870 | 846 | 961 | 3400 | 4484 |
| &nbsp;&nbsp;&nbsp;Total interest expense | 2649 | 2879 | 2715 | 2654 | 2971 | 10897 | 12885 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 3731 | 3648 | 3555 | 3476 | 3523 | 14410 | 13499 |
| **Noninterest Income** |  |  |  |  |  |  |  |
| Asset management and brokerage | 411 | 404 | 391 | 391 | 374 | 1597 | 1485 |
| Capital markets and advisory | 489 | 432 | 321 | 306 | 348 | 1548 | 1250 |
| Card and cash management | 733 | 737 | 737 | 692 | 695 | 2899 | 2770 |
| Lending and deposit services | 342 | 335 | 317 | 316 | 330 | 1310 | 1259 |
| Residential and commercial mortgage | 148 | 161 | 128 | 134 | 122 | 571 | 581 |
| Other income |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on Visa shares exchange program |  |  |  |  |  |  | 754 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities gains (losses) | (7) |  |  | (2) | (2) | (9) | (500) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other (a) | 224 | 198 | 212 | 139 | 177 | 773 | 457 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other income | 217 | 198 | 212 | 137 | 175 | 764 | 711 |
| &nbsp;&nbsp;&nbsp;Total noninterest income | 2340 | 2267 | 2106 | 1976 | 2044 | 8689 | 8056 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 6071 | 5915 | 5661 | 5452 | 5567 | 23099 | 21555 |
| **Provision For Credit Losses** | 139 | 167 | 254 | 219 | 156 | 779 | 789 |
| **Noninterest Expense** |  |  |  |  |  |  |  |
| Personnel | 2033 | 1970 | 1889 | 1890 | 1857 | 7782 | 7302 |
| Occupancy | 247 | 235 | 235 | 245 | 240 | 962 | 954 |
| Equipment | 412 | 416 | 394 | 384 | 473 | 1606 | 1527 |
| Marketing | 101 | 93 | 99 | 85 | 112 | 378 | 362 |
| Other | 810 | 747 | 766 | 783 | 824 | 3106 | 3379 |
| &nbsp;&nbsp;&nbsp;Total noninterest expense | 3603 | 3461 | 3383 | 3387 | 3506 | 13834 | 13524 |
| Income before income taxes and noncontrolling interests | 2329 | 2287 | 2024 | 1846 | 1905 | 8486 | 7242 |
| Income taxes | 296 | 465 | 381 | 347 | 278 | 1489 | 1289 |
| Net income | 2033 | 1822 | 1643 | 1499 | 1627 | 6997 | 5953 |
| Less: Net income attributable to noncontrolling interests | 13 | 14 | 16 | 18 | 17 | 61 | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock dividends (b) | 83 | 71 | 83 | 71 | 94 | 308 | 352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock discount accretion and <br>&nbsp;&nbsp;&nbsp;&nbsp;redemptions | 3 | 2 | 2 | 2 | 2 | 9 | 8 |
| Net income attributable to common shareholders | 1934 | 1735 | 1542 | 1408 | 1514 | 6619 | 5529 |
| **Earnings Per Common Share** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 4.88 | 4.36 | 3.86 | 3.52 | 3.77 | 16.60 | 13.76 |
| &nbsp;&nbsp;&nbsp;Diluted | 4.88 | 4.35 | 3.85 | 3.51 | 3.77 | 16.59 | 13.74 |
| **Average Common Shares Outstanding** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 394 | 396 | 397 | 398 | 399 | 396 | 399 |
| &nbsp;&nbsp;&nbsp;Diluted | 394 | 396 | 397 | 398 | 399 | 396 | 400 |
| **Efficiency** | 59% | 59% | 60% | 62% | 63% | 60% | 63% |
| **Noninterest income to total revenue** | 39% | 38% | 37% | 36% | 37% | 38% | 37% |
| **Effective tax rate (c)** | 12.7 %% | 20.3 %% | 18.8 %% | 18.8 %% | 14.6 %% | 17.5 %% | 17.8 %% |

---

(a)Includes Visa derivative fair value adjustments of $(41) million, $(35) million, $2 million, $(40) million and $(23) million for the quarters ended December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024 and $(114) million and $(274) million for the twelve months ended December 31, 2025 and December 31, 2024, respectively. These adjustments are primarily related to escrow funding and the extension of anticipated litigation resolution timing.

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

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

------

---

| | |
|:---|:---|
| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 2 |

---

**Table 2: Consolidated Balance Sheet (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | December 31 | September 30 | June 30 | March 31 | December 31 |
| *<u>In millions, except par value</u>* | 2025 | 2025 | 2025 | 2025 | 2024 |
| **Assets** |  |  |  |  |  |
| Cash and due from banks | $6777 | $5553 | $5939 | $6102 | $6904 |
| Interest-earning deposits with banks (a) | 32936 | 33318 | 24455 | 32298 | 39347 |
| Loans held for sale (b) | 1939 | 1104 | 1837 | 1236 | 850 |
| Investment securities – available-for-sale | 68135 | 68297 | 67136 | 63318 | 62039 |
| Investment securities – held-to-maturity | 70105 | 73226 | 75212 | 74457 | 77693 |
| Loans (b) | 331481 | 326616 | 326340 | 318850 | 316467 |
| Allowance for loan and lease losses | (4410) | (4478) | (4523) | (4544) | (4486) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loans | 327071 | 322138 | 321817 | 314306 | 311981 |
| Equity investments | 10790 | 9972 | 9755 | 9448 | 9600 |
| Mortgage servicing rights | 3659 | 3627 | 3467 | 3564 | 3711 |
| Goodwill | 10959 | 10962 | 10932 | 10932 | 10932 |
| Other (b) | 41201 | 40570 | 38557 | 39061 | 36981 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $573572 | $568767 | $559107 | $554722 | $560038 |
| **Liabilities** |  |  |  |  |  |
| Deposits |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing | $91748 | $91207 | $93253 | $92369 | $92641 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing (b) | 349118 | 341542 | 333443 | 330546 | 334097 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 440866 | 432749 | 426696 | 422915 | 426738 |
| Borrowed funds |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Bank advances | 13000 | 16100 | 18000 | 18000 | 22000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior debt | 38642 | 38695 | 35750 | 34987 | 32497 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt | 3016 | 3512 | 3490 | 4163 | 4104 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other (b) | 2443 | 4037 | 3184 | 3572 | 3072 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total borrowed funds | 57101 | 62344 | 60424 | 60722 | 61673 |
| Allowance for unfunded lending related commitments | 818 | 775 | 759 | 674 | 719 |
| Accrued expenses and other liabilities (b) | 14151 | 13861 | 13573 | 13960 | 16439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 512936 | 509729 | 501452 | 498271 | 505569 |
| **Equity** |  |  |  |  |  |
| Preferred stock (c) |  |  |  |  |  |
| Common stock - $5 par value |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Authorized 800,000,000 shares, issued 543,497,966; 543,412,079; 543,412,101; 543,310,646 and 543,310,646 shares | 2717 | 2717 | 2717 | 2717 | 2717 |
| Capital surplus | 18922 | 18859 | 18809 | 18731 | 18710 |
| Retained earnings | 63266 | 62008 | 60951 | 60051 | 59282 |
| Accumulated other comprehensive income (loss) | (3408) | (4077) | (4682) | (5237) | (6565) |
| Common stock held in treasury at cost: 153,084,091; 151,030,533; 149,426,326; 147,519,772 and 147,373,633 shares | (20912) | (20517) | (20188) | (19857) | (19719) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 60585 | 58990 | 57607 | 56405 | 54425 |
| Noncontrolling interests | 51 | 48 | 48 | 46 | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total equity | 60636 | 59038 | 57655 | 56451 | 54469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $573572 | $568767 | $559107 | $554722 | $560038 |

---

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

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

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

------

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| | |
|:---|:---|
| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 3 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Table 3: Average Consolidated Balance Sheet (Unaudited) (a) (b)** | **Table 3: Average Consolidated Balance Sheet (Unaudited) (a) (b)** | **Table 3: Average Consolidated Balance Sheet (Unaudited) (a) (b)** | **Table 3: Average Consolidated Balance Sheet (Unaudited) (a) (b)** | **Table 3: Average Consolidated Balance Sheet (Unaudited) (a) (b)** | **Table 3: Average Consolidated Balance Sheet (Unaudited) (a) (b)** | | |
|  | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Year ended* | *Year ended* |
|  | December 31 | September 30 | June 30 | March 31 | December 31 | December 31 | December 31 |
| *In millions* | 2025 | 2025 | 2025 | 2025 | 2024 | 2025 | 2024 |
| **Assets** |  |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |  |
| Investment securities |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Securities available-for-sale |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage-backed | $33564 | $34752 | $34567 | $33793 | $32865 | $34170 | $31535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury and government agencies | 28119 | 26799 | 25372 | 24382 | 23086 | 26180 | 16010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 8202 | 8293 | 7818 | 7505 | 7656 | 7957 | 7291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities available-for-sale | 69885 | 69844 | 67757 | 65680 | 63607 | 68307 | 54836 |
| &nbsp;&nbsp;&nbsp;Securities held-to-maturity |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage-backed | 42925 | 42667 | 40440 | 40045 | 40833 | 41530 | 41846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury and government agencies | 23426 | 25540 | 26900 | 28931 | 31049 | 26182 | 34360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 5983 | 6384 | 6838 | 7525 | 8374 | 6678 | 9700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities held-to-maturity | 72334 | 74591 | 74178 | 76501 | 80256 | 74390 | 85906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment securities | 142219 | 144435 | 141935 | 142181 | 143863 | 142697 | 140742 |
| Loans |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 191735 | 189033 | 184725 | 177333 | 177433 | 185786 | 177210 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 30173 | 30850 | 31838 | 33067 | 34476 | 31473 | 35241 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment lease financing | 6991 | 6870 | 6801 | 6692 | 6737 | 6841 | 6557 |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer | 54884 | 54238 | 53851 | 53421 | 53735 | 54103 | 53678 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 44146 | 44941 | 45539 | 46111 | 46677 | 45178 | 47108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | 327929 | 325932 | 322754 | 316624 | 319058 | 323381 | 319794 |
| Interest-earning deposits with banks (c) | 32009 | 35003 | 31570 | 34614 | 37929 | 33360 | 43145 |
| Other interest-earning assets | 18618 | 12759 | 11348 | 10147 | 10337 | 13245 | 9135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 520775 | 518129 | 507607 | 503566 | 511187 | 512683 | 512816 |
| Noninterest-earning assets | 55071 | 53404 | 54079 | 52811 | 52911 | 53785 | 52067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $575846 | $571533 | $561686 | $556377 | $564098 | $566468 | $564883 |
| **Liabilities and Equity** |  |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |  |
| Interest-bearing deposits |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market | $78742 | $75890 | $70909 | $73063 | $73219 | $74670 | $70331 |
| &nbsp;&nbsp;&nbsp;&nbsp;Demand | 132591 | 128962 | 126222 | 125046 | 124294 | 128230 | 122095 |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | 97188 | 96627 | 97028 | 97409 | 95957 | 97061 | 96708 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 36180 | 37593 | 35674 | 32763 | 35656 | 35568 | 35301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 344701 | 339072 | 329833 | 328281 | 329126 | 335529 | 324435 |
| Borrowed funds |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Bank advances | 14671 | 17615 | 18319 | 19703 | 24014 | 17563 | 32345 |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior debt | 38623 | 38012 | 36142 | 34933 | 32572 | 36941 | 30751 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt | 3299 | 3616 | 3686 | 4320 | 4324 | 3727 | 4574 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 3722 | 7070 | 7146 | 5549 | 6259 | 5870 | 6391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total borrowed funds | 60315 | 66313 | 65293 | 64505 | 67169 | 64101 | 74061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 405016 | 405385 | 395126 | 392786 | 396295 | 399630 | 398496 |
| Noninterest-bearing liabilities and equity: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | 94834 | 92756 | 93142 | 92367 | 96136 | 93283 | 96772 |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 16646 | 15624 | 16942 | 16214 | 17068 | 16451 | 17004 |
| &nbsp;&nbsp;&nbsp;Equity | 59350 | 57768 | 56476 | 55010 | 54599 | 57104 | 52611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $575846 | $571533 | $561686 | $556377 | $564098 | $566468 | $564883 |

---

(a)Calculated using average daily balances.

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

(c)Amounts include average balances held with the Federal Reserve Bank of $31.3 billion, $34.2 billion, $30.8 billion, $34.2 billion and $37.5 billion for the three months ended December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024 and $32.6 billion and $42.7 billion for the twelve months ended December 31, 2025 and December 31, 2024, respectively.

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 4 |

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

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(a)Yields and rates are calculated using the applicable annualized interest income or interest expense divided by the applicable average earning assets or interest-bearing liabilities. Net interest margin is the total yield on interest-earning assets minus the total rate on interest-bearing liabilities and includes the benefit from use of noninterest-bearing sources. To provide more meaningful comparisons of net interest margins, we use net interest income on a taxable-equivalent basis in calculating average yields used in the calculation of net interest margin by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. This adjustment is not permitted under GAAP in the Consolidated Income Statement. The taxable-equivalent adjustments to net interest income for the three months ended December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024 were $31 million, $30 million, $28 million, $28 million and $30 million, respectively. The taxable-equivalent adjustments to net interest income for the twelve months ended December 31, 2025 and December 31, 2024 were $117 million and $131 million, respectively.

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

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 5 |

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**Table 5: Details of Loans (Unaudited)** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | December 31 | September 30 | June 30 | March 31 | December 31 |
| *<u>In millions</u>* | 2025 | 2025 | 2025 | 2025 | 2024 |
| Commercial |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial services | $36993 | $33347 | $31815 | $29335 | $27737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manufacturing | 29769 | 30256 | 31135 | 28934 | 27700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service providers | 24159 | 23830 | 23071 | 22943 | 21881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wholesale trade | 19263 | 19350 | 19460 | 19176 | 18399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate related (a) | 14919 | 15059 | 14873 | 15041 | 14910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology, media and telecommunications | 12029 | 11368 | 11079 | 9998 | 9767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retail trade | 12020 | 12358 | 12923 | 11941 | 11611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | 8845 | 9571 | 9590 | 9903 | 9694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transportation and warehousing | 8610 | 7492 | 7164 | 7147 | 7320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other industries | 29116 | 27565 | 27720 | 26119 | 26771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial and industrial | 195723 | 190196 | 188830 | 180537 | 175790 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 29565 | 30281 | 31250 | 32307 | 33619 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment lease financing | 7175 | 6898 | 6928 | 6732 | 6755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 232463 | 227375 | 227008 | 219576 | 216164 |
| Consumer |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 43760 | 44637 | 45257 | 45890 | 46415 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 25941 | 25942 | 25928 | 25846 | 25991 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 16591 | 16272 | 15892 | 15324 | 15355 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | 7014 | 6636 | 6570 | 6550 | 6879 |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 1468 | 1521 | 1547 | 1597 | 1636 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | 4244 | 4233 | 4138 | 4067 | 4027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 99018 | 99241 | 99332 | 99274 | 100303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | $331481 | $326616 | $326340 | $318850 | $316467 |

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

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 6 |

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**Allowance for Credit Losses (Unaudited)**

**Table 6: Change in Allowance for Loan and Lease Losses** 

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Year ended* | *Year ended* |
|  | December 31 | September 30 | June 30 | March 31 | December 31 | December 31 | December 31 |
| *<u>Dollars in millions</u>* | 2025 | 2025 | 2025 | 2025 | 2024 | 2025 | 2024 |
| **Allowance for loan and lease losses** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning balance | 4478 | 4523 | 4544 | 4486 | 4589 | 4486 | 4791 |
| &nbsp;&nbsp;&nbsp;Gross charge-offs: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | (78) | (92) | (89) | (103) | (78) | (362) | (328) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | (15) | (19) | (64) | (18) | (87) | (116) | (358) |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment lease financing | (7) | (5) | (10) | (10) | (9) | (32) | (34) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate |  | (6) |  | (2) | (1) | (8) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | (7) | (10) | (9) | (9) | (9) | (35) | (36) |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | (33) | (32) | (30) | (35) | (33) | (130) | (131) |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | (73) | (76) | (81) | (90) | (87) | (320) | (355) |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | (4) | (3) | (4) | (5) | (6) | (16) | (19) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | (39) | (41) | (37) | (40) | (44) | (157) | (171) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total gross charge-offs | (256) | (284) | (324) | (312) | (354) | (1176) | (1435) |
| &nbsp;&nbsp;&nbsp;Recoveries: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 28 | 32 | 48 | 35 | 39 | 143 | 119 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 3 | 6 | 8 | 5 | 2 | 22 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment lease financing | 5 | 6 | 5 | 7 | 5 | 23 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 3 | 3 | 3 | 2 | 2 | 11 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 8 | 7 | 12 | 8 | 11 | 35 | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 22 | 25 | 24 | 23 | 23 | 94 | 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | 15 | 17 | 15 | 15 | 13 | 62 | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 2 |  | 2 | 2 | 1 | 6 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | 8 | 9 | 9 | 10 | 8 | 36 | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total recoveries | 94 | 105 | 126 | 107 | 104 | 432 | 394 |
| &nbsp;&nbsp;&nbsp;Net (charge-offs) / recoveries: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | (50) | (60) | (41) | (68) | (39) | (219) | (209) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | (12) | (13) | (56) | (13) | (85) | (94) | (345) |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment lease financing | (2) | 1 | (5) | (3) | (4) | (9) | (17) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 3 | (3) | 3 |  | 1 | 3 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 1 | (3) | 3 | (1) | 2 |  | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | (11) | (7) | (6) | (12) | (10) | (36) | (34) |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | (58) | (59) | (66) | (75) | (74) | (258) | (300) |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | (2) | (3) | (2) | (3) | (5) | (10) | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | (31) | (32) | (28) | (30) | (36) | (121) | (136) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total net (charge-offs) | (162) | (179) | (198) | (205) | (250) | (744) | (1041) |
| &nbsp;&nbsp;&nbsp;Provision for credit losses (a) | 93 | 136 | 171 | 260 | 155 | 660 | 741 |
| &nbsp;&nbsp;&nbsp;Other | 1 | (2) | 6 | 3 | (8) | 8 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ending balance | 4410 | 4478 | 4523 | 4544 | 4486 | 4410 | 4486 |
| **Supplemental Information** |  |  |  |  |  |  |  |
| <u>Net charge-offs</u> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial net charge-offs | (64) | (72) | (102) | (84) | (128) | (322) | (571) |
| &nbsp;&nbsp;&nbsp;Consumer net charge-offs | (98) | (107) | (96) | (121) | (122) | (422) | (470) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total net charge-offs | (162) | (179) | (198) | (205) | (250) | (744) | (1041) |
| &nbsp;&nbsp;&nbsp;Net charge-offs to average loans (b) | 0.20% | 0.22% | 0.25% | 0.26% | 0.31% | 0.23% | 0.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial | 0.11% | 0.13% | 0.18% | 0.16% | 0.23% | 0.14% | 0.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer | 0.39 %% | 0.43 %% | 0.39 %% | 0.49 %% | 0.48 %% | 0.43 %% | 0.47 %% |

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

(b)Three month period percentages are annualized.

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 7 |

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**Allowance for Credit Losses (Unaudited) (Continued)**

**Table 7: Components of the Provision for Credit Losses** 

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

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

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | December 31, 2025 | December 31, 2025 | December 31, 2025 | September 30, 2025 | September 30, 2025 | September 30, 2025 | December 31, 2024 | December 31, 2024 | December 31, 2024 |
| *<br><u>Dollars in millions</u>* | 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** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $1947 | $195723 | 0.99% | $1951 | $190196 | 1.03% | $1605 | $175790 | 0.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 1057 | 29565 | 3.58% | 1142 | 30281 | 3.77% | 1483 | 33619 | 4.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment lease financing | 85 | 7175 | 1.18% | 85 | 6898 | 1.23% | 60 | 6755 | 0.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 3089 | 232463 | 1.33% | 3178 | 227375 | 1.40% | 3148 | 216164 | 1.46% |
| &nbsp;&nbsp;&nbsp;Consumer |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 44 | 43760 | 0.10% | 50 | 44637 | 0.11% | 37 | 46415 | 0.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 271 | 25941 | 1.04% | 285 | 25942 | 1.10% | 266 | 25991 | 1.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 158 | 16591 | 0.95% | 153 | 16272 | 0.94% | 160 | 15355 | 1.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | 632 | 7014 | 9.01% | 596 | 6636 | 8.98% | 664 | 6879 | 9.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 42 | 1468 | 2.86% | 43 | 1521 | 2.83% | 48 | 1636 | 2.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | 174 | 4244 | 4.10% | 173 | 4233 | 4.09% | 163 | 4027 | 4.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 1321 | 99018 | 1.33% | 1300 | 99241 | 1.31% | 1338 | 100303 | 1.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 4410 | $331481 | 1.33% | 4478 | $326616 | 1.37% | 4486 | $316467 | 1.42% |
| **Allowance for unfunded lending related commitments** | 818 |  |  | 775 |  |  | 719 |  |  |
| **Allowance for credit losses** | $5228 |  |  | $5253 |  |  | $5205 |  |  |
| **Supplemental Information** |  |  |  |  |  |  |  |  |  |
| Allowance for credit losses to total loans |  |  | 1.58% |  |  | 1.61% |  |  | 1.64% |
| &nbsp;&nbsp;&nbsp;Commercial |  |  | 1.62% |  |  | 1.68% |  |  | 1.72% |
| &nbsp;&nbsp;&nbsp;Consumer |  |  | 1.47 %% |  |  | 1.45 %% |  |  | 1.47 %% |

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

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 8 |

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**Details of Nonperforming Assets (Unaudited)** 

**Table 9: Nonperforming Assets by Type** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | December 31 | September 30 | June 30 | March 31 | December 31 |
| *<u>Dollars in millions</u>* | 2025 | 2025 | 2025 | 2025 | 2024 |
| Nonperforming loans |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retail trade | 194 | 36 | 63 | 121 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wholesale trade | 160 | 95 | 17 | 15 | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service providers | 111 | 115 | 124 | 140 | 187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manufacturing | 97 | 74 | 71 | 96 | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | 47 | 45 | 53 | 76 | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transportation and warehousing | 43 | 47 | 47 | 44 | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology, media and telecommunications | 27 | 83 | 31 | 52 | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate related (a) | 23 | 17 | 21 | 22 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other industries | 44 | 71 | 35 | 30 | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial and industrial | 746 | 583 | 462 | 596 | 528 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 574 | 663 | 753 | 851 | 919 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment lease financing | 38 | 36 | 36 | 20 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 1358 | 1282 | 1251 | 1467 | 1462 |
| &nbsp;&nbsp;&nbsp;Consumer (b) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 320 | 326 | 325 | 287 | 278 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 439 | 431 | 436 | 437 | 482 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 83 | 82 | 80 | 83 | 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | 13 | 13 | 13 | 15 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | 5 | 3 | 3 | 3 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 860 | 855 | 857 | 825 | 864 |
| Total nonperforming loans (c) | 2218 | 2137 | 2108 | 2292 | 2326 |
| OREO, foreclosed and other assets (d) | 143 | 162 | 33 | 32 | 31 |
| Total nonperforming assets | 2361 | 2299 | 2141 | 2324 | 2357 |
| Nonperforming loans to total loans | 0.67% | 0.65% | 0.65% | 0.72% | 0.73% |
| Nonperforming assets to total loans, OREO, foreclosed and other assets (d) | 0.71% | 0.70% | 0.66% | 0.73% | 0.74% |
| Nonperforming assets to total assets | 0.41% | 0.40% | 0.38% | 0.42% | 0.42% |
| Allowance for loan and lease losses to nonperforming loans | 199 %% | 210 %% | 215 %% | 198 %% | 193 %% |

---

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

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

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

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

**Table 10: Change in Nonperforming Assets**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* |
|  | December 31 | September 30 | June 30 | March 31 | December 31 |
| *<u>Dollars in millions</u>* | 2025 | 2025 | 2025 | 2025 | 2024 |
| Beginning balance | $2299 | $2141 | $2324 | $2357 | $2609 |
| New nonperforming assets | 569 | 653 | 367 | 477 | 397 |
| Charge-offs and valuation adjustments | (91) | (103) | (149) | (135) | (174) |
| Principal activity, including paydowns and payoffs | (248) | (299) | (312) | (156) | (401) |
| Asset sales and transfers to loans held for sale | (33) | (13) | (5) | (77) | (15) |
| Returned to performing status | (135) | (80) | (84) | (142) | (59) |
| &nbsp;&nbsp;&nbsp;Ending balance | $2361 | $2299 | $2141 | $2324 | $2357 |

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**Accruing Loans Past Due (Unaudited) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;**

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

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

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(a)Excludes loans held for sale.

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 10 |

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**Accruing Loans Past Due (Unaudited) (Continued)** 

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

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

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(a)Excludes loans held for sale.

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 11 |

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**Accruing Loans Past Due (Unaudited) (Continued)**

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | December 31 | September 30 | June 30 | March 31 | December 31 |
| *<u>Dollars in millions</u>* | 2025 | 2025 | 2025 | 2025 | 2024 |
| Commercial |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $57 | $71 | $79 | $75 | $72 |
| &nbsp;&nbsp;&nbsp;Commercial real estate |  | 1 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 57 | 72 | 79 | 75 | 72 |
| Consumer |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Residential real estate |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non government insured | 46 | 38 | 53 | 53 | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government insured | 163 | 126 | 129 | 130 | 132 |
| &nbsp;&nbsp;&nbsp;Automobile | 5 | 4 | 5 | 7 | 9 |
| &nbsp;&nbsp;&nbsp;Credit card | 65 | 63 | 64 | 71 | 81 |
| &nbsp;&nbsp;&nbsp;Education |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non government insured | 2 | 1 | 2 | 2 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government insured | 35 | 35 | 32 | 34 | 37 |
| &nbsp;&nbsp;&nbsp;Other consumer | 7 | 8 | 7 | 7 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 323 | 275 | 292 | 304 | 325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $380 | $347 | $371 | $379 | $397 |
| **Supplemental Information** |  |  |  |  |  |
| Total accruing loans past due 90 days or more to total loans | 0.11% | 0.11% | 0.11% | 0.12% | 0.13% |
| &nbsp;&nbsp;&nbsp;Commercial | 0.02% | 0.03% | 0.03% | 0.03% | 0.03% |
| &nbsp;&nbsp;&nbsp;Consumer | 0.33% | 0.28% | 0.29% | 0.31% | 0.32% |
| Total accruing loans past due | $1443 | $1233 | $1303 | $1431 | $1382 |
| &nbsp;&nbsp;&nbsp;Commercial | $454 | $309 | $362 | $383 | $370 |
| &nbsp;&nbsp;&nbsp;Consumer | $989 | $924 | $941 | $1048 | $1012 |
| Total accruing loans past due to total loans | 0.44% | 0.38% | 0.40% | 0.45% | 0.44% |
| &nbsp;&nbsp;&nbsp;Commercial | 0.20% | 0.14% | 0.16% | 0.17% | 0.17% |
| &nbsp;&nbsp;&nbsp;Consumer | 1.00 %% | 0.93 %% | 0.95 %% | 1.06 %% | 1.01 %% |

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(a)Excludes loans held for sale.

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 12 |

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**Business Segment Descriptions (Unaudited)**

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

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

**Table 14: Period End Employees** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | December 31 | September 30 | June 30 | March 31 | December 31 |
| | 2025 | 2025 | 2025 | 2025 | 2024 |
| Full-time employees |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Retail Banking | 26168 | 26126 | 26291 | 27108 | 27513 |
| &nbsp;&nbsp;&nbsp;Other full-time employees | 27691 | 27397 | 26884 | 26360 | 26173 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total full-time employees | 53859 | 53523 | 53175 | 53468 | 53686 |
| Part-time employees |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Retail Banking | 1427 | 1367 | 1465 | 1460 | 1451 |
| &nbsp;&nbsp;&nbsp;Other part-time employees | 47 | 48 | 407 | 48 | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total part-time employees | 1474 | 1415 | 1872 | 1508 | 1498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 55333 | 54938 | 55047 | 54976 | 55184 |

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 13 |

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

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Year ended* | *Year ended* |
|  | December 31 | September 30 | June 30 | March 31 | December 31 | December 31 | December 31 |
| *<u>In millions</u>* | 2025 | 2025 | 2025 | 2025 | 2024 | 2025 | 2024 |
| **Net Income** |  |  |  |  |  |  |  |
| Retail Banking (b) | $1241 | $1324 | $1359 | $1121 | $1083 | $5045 | $5063 |
| Corporate & Institutional Banking | 1514 | 1459 | 1229 | 1244 | 1365 | 5446 | 4729 |
| Asset Management Group (b) | 121 | 117 | 129 | 105 | 95 | 472 | 376 |
| Other (b) | (856) | (1092) | (1090) | (989) | (933) | (4027) | (4279) |
| &nbsp;&nbsp;&nbsp;Net income excluding noncontrolling interests | $2020 | $1808 | $1627 | $1481 | $1610 | $6936 | $5889 |
| **Revenue** |  |  |  |  |  |  |  |
| Retail Banking (b) | $3759 | $3806 | $3756 | $3542 | $3542 | $14863 | $14547 |
| Corporate & Institutional Banking | 3066 | 2909 | 2720 | 2630 | 2755 | 11325 | 10339 |
| Asset Management Group (b) | 440 | 430 | 423 | 417 | 403 | 1710 | 1562 |
| Other (b) | (1194) | (1230) | (1238) | (1137) | (1133) | (4799) | (4893) |
| &nbsp;&nbsp;&nbsp;Total revenue | $6071 | $5915 | $5661 | $5452 | $5567 | $23099 | $21555 |

---

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

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

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 14 |

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**Table 16: Retail Banking (Unaudited) (a)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Year ended* | *Year ended* |
|  | December 31 | September 30 |  | June 30 |  | March 31 | December 31 | December 31 | December 31 |
| *<u>Dollars in millions</u>* | 2025 | 2025 |  | 2025 |  | 2025 | 2024 | 2025 | 2024 |
| **Income Statement** |  |  |  |  |  |  |  |  |  |
| Net interest income (b)(c) | 2989 | 3016 |  | 2974 |  | 2836 | 2834 | 11815 | 10965 |
| Noninterest income | 770 | 790 |  | 782 |  | 706 | 708 | 3048 | 3582 |
| &nbsp;&nbsp;&nbsp;Total revenue (b)(c) | 3759 | 3806 |  | 3756 |  | 3542 | 3542 | 14863 | 14547 |
| Provision for credit losses | 155 | 126 |  | 83 |  | 168 | 106 | 532 | 362 |
| Noninterest expense (d) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Personnel | 535 | 529 |  | 539 |  | 538 | 536 | 2141 | 2149 |
| &nbsp;&nbsp;&nbsp;Segment allocations (e) | 1020 | 979 |  | 978 |  | 967 | 977 | 3944 | 3774 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 95 | 97 |  | 87 |  | 86 | 72 | 365 | 300 |
| &nbsp;&nbsp;&nbsp;Other (f) | 327 | 336 |  | 286 |  | 311 | 425 | 1260 | 1307 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 1977 | 1941 |  | 1890 |  | 1902 | 2010 | 7710 | 7530 |
| &nbsp;&nbsp;&nbsp;Pre-tax earnings (b)(c) | 1627 | 1739 |  | 1783 |  | 1472 | 1426 | 6621 | 6655 |
| Income taxes (b)(c) | 379 | 406 |  | 414 |  | 342 | 332 | 1541 | 1553 |
| Noncontrolling interests | 7 | 9 |  | 10 |  | 9 | 11 | 35 | 39 |
| &nbsp;&nbsp;&nbsp;Earnings (b)(c) | 1241 | 1324 | 752 | 1359 | 322 | 1121 | 1083 | 5045 | 5063 |
| **Average Balance Sheet** |  |  |  |  |  |  |  |  |  |
| Loans held for sale | 699 | 785 |  | 874 |  | 860 | 873 | 804 | 746 |
| Loans (b) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Consumer |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 33336 | 34043 |  | 34647 |  | 35197 | 35658 | 34299 | 36099 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 24559 | 24551 |  | 24551 |  | 24549 | 24604 | 24551 | 24587 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 16403 | 16035 |  | 15738 |  | 15240 | 15213 | 15858 | 14960 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | 6754 | 6561 |  | 6483 |  | 6568 | 6779 | 6592 | 6838 |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 1505 | 1545 |  | 1586 |  | 1637 | 1674 | 1568 | 1787 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | 1815 | 1789 |  | 1756 |  | 1754 | 1776 | 1780 | 1763 |
| &nbsp;&nbsp;&nbsp;Total consumer | 84372 | 84524 |  | 84761 |  | 84945 | 85704 | 84648 | 86034 |
| &nbsp;&nbsp;&nbsp;Commercial | 12603 | 12353 |  | 12725 |  | 12841 | 12927 | 12629 | 12781 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans | 96975 | 96877 |  | 97486 |  | 97786 | 98631 | 97277 | 98815 |
| Total assets (b) | 113714 | 114146 |  | 114061 |  | 115176 | 117175 | 114263 | 116842 |
| Deposits (b) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing | 52125 | 52604 |  | 52353 |  | 51307 | 52503 | 52101 | 53143 |
| &nbsp;&nbsp;&nbsp;Interest-bearing (c) | 191941 | 190652 |  | 191190 |  | 189563 | 187011 | 190841 | 186740 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 244066 | 243256 |  | 243543 |  | 240870 | 239514 | 242942 | 239883 |
| **Performance Ratios (b)(c)** |  |  |  |  |  |  |  |  |  |
| Return on average assets | 4.33% | 4.60% |  | 4.78% |  | 3.95% | 3.67% | 4.42% | 4.33% |
| Noninterest income to total revenue | 20% | 21% |  | 21% |  | 20% | 20% | 21% | 25% |
| Efficiency | 53 %% | 51 %% |  | 50 %% |  | 54 %% | 57 %% | 52 %% | 52 %% |

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(continued on following page)

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 15 |

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**Retail Banking (Unaudited) (Continued)** 

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Year ended* | *Year ended* |
|  | December 31 | September 30 | June 30 | March 31 | December 31 | December 31 | December 31 |
| *<u>Dollars in millions, except as noted</u>* | 2025 | 2025 | 2025 | 2025 | 2024 | 2025 | 2024 |
| **Supplemental Noninterest Income Information** |  |  |  |  |  |  |  |
| Asset management and brokerage | $155 | $154 | $150 | $152 | $135 | $611 | $552 |
| Card and cash management | $328 | $334 | $328 | $296 | $308 | $1286 | $1263 |
| Lending and deposit services | $199 | $199 | $190 | $184 | $191 | $772 | $744 |
| Residential and commercial mortgage | $78 | $89 | $61 | $65 | $46 | $293 | $342 |
| Other income - Gain on Visa shares exchange <br>&nbsp;&nbsp;&nbsp;&nbsp; program | $— | $— | $— | $— | $— | $— | $754 |
| **Residential Mortgage Information** |  |  |  |  |  |  |  |
| <u>Residential mortgage servicing statistics (g)</u> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Serviced portfolio balance (in billions) (h) | $198 | $199 | $189 | $193 | $197 |  |  |
| &nbsp;&nbsp;&nbsp;MSR asset value (h) | $2638 | $2622 | $2457 | $2523 | $2626 |  |  |
| &nbsp;&nbsp;&nbsp;Servicing income: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Servicing fees, net (i) | $63 | $60 | $60 | $71 | $69 | $254 | $287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage servicing rights valuation net of economic hedge | $(5) | $18 | $2 | $(4) | $(28) | $11 | $5 |
| <u>Residential mortgage loan statistics</u> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Loan origination volume (in billions) | $1.6 | $1.5 | $1.7 | $1.0 | $1.6 | $5.8 | $6.4 |
| &nbsp;&nbsp;&nbsp;Loan sale margin percentage | 1.88 %% | 1.67 %% | 0.91 %% | 0.58 %% | 1.26 %% | 1.32 %% | 1.76 %% |
| **Other Information** |  |  |  |  |  |  |  |
| <u>Credit-related statistics</u> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Nonperforming assets (h) | $840 | $827 | $812 | $804 | $848 |  |  |
| &nbsp;&nbsp;&nbsp;Net charge-offs - loans and leases | $116 | $126 | $120 | $144 | $152 | $506 | $570 |
| <u>Other statistics</u> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branches (h)(j) | 2224 | 2219 | 2218 | 2217 | 2234 |  |  |
| &nbsp;&nbsp;&nbsp;Brokerage account client assets (in billions) (h)(k) | $91 | $89 | $87 | $84 | $84 |  |  |

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

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

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

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

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

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

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

(h)Presented as of period end.

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

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

(k)Includes cash and money market balances.

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 16 |

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

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Year ended* | *Year ended* |
|  | December 31 | September 30 | June 30 | March 31 | December 31 | December 31 | December 31 |
| *<u>Dollars in millions</u>* | 2025 | 2025 | 2025 | 2025 | 2024 | 2025 | 2024 |
| **Income Statement** |  |  |  |  |  |  |  |
| Net interest income | 1856 | 1777 | 1698 | 1652 | 1688 | 6983 | 6412 |
| Noninterest income | 1210 | 1132 | 1022 | 978 | 1067 | 4342 | 3927 |
| &nbsp;&nbsp;&nbsp;Total revenue | 3066 | 2909 | 2720 | 2630 | 2755 | 11325 | 10339 |
| Provision for credit losses | 14 | 44 | 184 | 49 | 44 | 291 | 453 |
| Noninterest expense |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Personnel | 472 | 403 | 370 | 376 | 401 | 1621 | 1508 |
| &nbsp;&nbsp;&nbsp;Segment allocations (b) | 422 | 387 | 381 | 383 | 386 | 1573 | 1497 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 55 | 46 | 49 | 51 | 51 | 201 | 202 |
| &nbsp;&nbsp;&nbsp;Other (c) | 158 | 140 | 150 | 146 | 143 | 594 | 557 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 1107 | 976 | 950 | 956 | 981 | 3989 | 3764 |
| &nbsp;&nbsp;&nbsp;Pre-tax earnings | 1945 | 1889 | 1586 | 1625 | 1730 | 7045 | 6122 |
| Income taxes | 425 | 425 | 352 | 377 | 361 | 1579 | 1374 |
| Noncontrolling interests | 6 | 5 | 5 | 4 | 4 | 20 | 19 |
| &nbsp;&nbsp;&nbsp;Earnings | 1514 | 1459 | 1229 | 1244 | 1365 | 5446 | 4729 |
| **Average Balance Sheet** |  |  |  |  |  |  |  |
| Loans held for sale | 632 | 691 | 775 | 255 | 832 | 590 | 384 |
| Loans |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 178204 | 175615 | 170829 | 163379 | 163410 | 172058 | 163220 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 29374 | 30032 | 30962 | 32151 | 33525 | 30620 | 34208 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment lease financing | 6991 | 6869 | 6801 | 6692 | 6737 | 6839 | 6556 |
| &nbsp;&nbsp;&nbsp;Total commercial | 214569 | 212516 | 208592 | 202222 | 203672 | 209517 | 203984 |
| &nbsp;&nbsp;&nbsp;Consumer | 2 | 2 | 4 | 3 | 3 | 3 | 3 |
| Total loans | 214571 | 212518 | 208596 | 202225 | 203675 | 209520 | 203987 |
| Total assets | 241169 | 238338 | 234391 | 227069 | 227845 | 235289 | 228349 |
| Deposits |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing | 41308 | 38732 | 39196 | 39501 | 42119 | 39686 | 42081 |
| &nbsp;&nbsp;&nbsp;Interest-bearing | 122457 | 116460 | 107275 | 108503 | 109205 | 113720 | 102931 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 163765 | 155192 | 146471 | 148004 | 151324 | 153406 | 145012 |
| **Performance Ratios** |  |  |  |  |  |  |  |
| Return on average assets | 2.49% | 2.43% | 2.10% | 2.22% | 2.38% | 2.31% | 2.07% |
| Noninterest income to total revenue | 39% | 39% | 38% | 37% | 39% | 38% | 38% |
| Efficiency | 36 %% | 34 %% | 35 %% | 36 %% | 36 %% | 35 %% | 36 %% |

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 17 |

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 **Corporate & Institutional Banking (Unaudited) (Continued)**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Year ended* | *Year ended* |
|  | December 31 | September 30 | June 30 | March 31 | December 31 | December 31 | December 31 |
| *<u>Dollars in millions</u>* | 2025 | 2025 | 2025 | 2025 | 2024 | 2025 | 2024 |
| **Other Information** |  |  |  |  |  |  |  |
| Consolidated revenue from: |  |  |  |  |  |  |  |
| Treasury Management (d) | $1197 | $1120 | $1077 | $1049 | $1058 | $4443 | $3922 |
| &nbsp;&nbsp;&nbsp;Commercial mortgage banking activities: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage loans held for sale (e) | $35 | $22 | $24 | $26 | $38 | $107 | $81 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage loan servicing income (f) | 115 | 121 | 116 | 94 | 112 | 446 | 353 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage servicing rights valuation, &nbsp;&nbsp;&nbsp;&nbsp;net of economic hedge | 37 | 47 | 36 | 39 | 39 | 159 | 147 |
| &nbsp;&nbsp;&nbsp;Total | $187 | $190 | $176 | $159 | $189 | $712 | $581 |
| <u>Commercial mortgage servicing statistics</u> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Serviced portfolio balance (in billions) (g)(h) | $294 | $293 | $295 | $294 | $290 |  |  |
| &nbsp;&nbsp;&nbsp;MSR asset value (g) | $1021 | $1006 | $1010 | $1041 | $1085 |  |  |
| <u>Average loans by C&IB business</u> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Corporate Banking | $130050 | $126994 | $123069 | $117659 | $116364 | $124484 | $116494 |
| &nbsp;&nbsp;&nbsp;Real Estate | 40836 | 41863 | 42533 | 43283 | 45472 | 42121 | 46061 |
| &nbsp;&nbsp;&nbsp;Business Credit | 32552 | 32412 | 31544 | 30044 | 30343 | 31647 | 29690 |
| &nbsp;&nbsp;&nbsp;Commercial Banking | 7007 | 7158 | 7281 | 7343 | 7290 | 7196 | 7450 |
| &nbsp;&nbsp;&nbsp;Other | 4126 | 4091 | 4169 | 3896 | 4206 | 4072 | 4292 |
| Total average loans | $214571 | $212518 | $208596 | $202225 | $203675 | $209520 | $203987 |
| <u>Credit-related statistics</u> |  |  |  |  |  |  |  |
| Nonperforming assets (g) | $1375 | $1323 | $1160 | $1372 | $1368 |  |  |
| Net charge-offs - loans and leases | $49 | $53 | $83 | $64 | $100 | $249 | $484 |

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

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

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

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

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

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

(g)Presented as of period end.

(h)Represents balances related to capitalized servicing.

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 18 |

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

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Three months ended* | *Year ended* | *Year ended* |
|  | December 31 | September 30 | June 30 | March 31 | December 31 | December 31 | December 31 |
| *<u>Dollars in millions, except as noted</u>* | 2025 | 2025 | 2025 | 2025 | 2024 | 2025 | 2024 |
| **Income Statement** |  |  |  |  |  |  |  |
| Net interest income (b) | $180 | $176 | $179 | $174 | $161 | $709 | $613 |
| Noninterest income | 260 | 254 | 244 | 243 | 242 | 1001 | 949 |
| &nbsp;&nbsp;&nbsp;Total revenue (b) | 440 | 430 | 423 | 417 | 403 | 1710 | 1562 |
| Provision for (recapture of) credit losses | (11) | 4 | (13) | 1 | 2 | (19) | (3) |
| Noninterest expense |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Personnel | 120 | 115 | 115 | 121 | 116 | 471 | 472 |
| &nbsp;&nbsp;&nbsp;Segment allocations (c) | 133 | 120 | 118 | 117 | 123 | 488 | 454 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 11 | 9 | 10 | 8 | 8 | 38 | 30 |
| &nbsp;&nbsp;&nbsp;Other (d) | 29 | 29 | 25 | 33 | 30 | 116 | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 293 | 273 | 268 | 279 | 277 | 1113 | 1073 |
| &nbsp;&nbsp;&nbsp;Pre-tax earnings (b) | 158 | 153 | 168 | 137 | 124 | 616 | 492 |
| Income taxes (b) | 37 | 36 | 39 | 32 | 29 | 144 | 116 |
| &nbsp;&nbsp;&nbsp;Earnings (b) | $121 | $117 | $129 | $105 | $95 | $472 | $376 |
| **Average Balance Sheet** |  |  |  |  |  |  |  |
| Loans (b) |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Consumer |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | $9876 | $9937 | $9912 | $9907 | $9981 | $9908 | $9920 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | 3673 | 3574 | 3543 | 3472 | 3480 | 3566 | 3520 |
| &nbsp;&nbsp;&nbsp;Total consumer | 13549 | 13511 | 13455 | 13379 | 13461 | 13474 | 13440 |
| &nbsp;&nbsp;&nbsp;Commercial | 566 | 659 | 731 | 657 | 668 | 653 | 761 |
| Total loans | $14115 | $14170 | $14186 | $14036 | $14129 | $14127 | $14201 |
| Total assets (b) | $14505 | $14575 | $14629 | $14482 | $14580 | $14548 | $14644 |
| Deposits (b) |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing | $1387 | $1426 | $1585 | $1540 | $1539 | $1484 | $1560 |
| &nbsp;&nbsp;&nbsp;Interest-bearing | 25564 | 25437 | 25327 | 26106 | 25669 | 25607 | 25832 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | $26951 | $26863 | $26912 | $27646 | $27208 | $27091 | $27392 |
| **Performance Ratios (b)** |  |  |  |  |  |  |  |
| Return on average assets | 3.31% | 3.18% | 3.54% | 2.94% | 2.59% | 3.24% | 2.57% |
| Noninterest income to total revenue | 59% | 59% | 58% | 58% | 60% | 59% | 61% |
| Efficiency | 67 %% | 63 %% | 63 %% | 67 %% | 69 %% | 65 %% | 69 %% |
| **Other Information** |  |  |  |  |  |  |  |
| Nonperforming assets (e) | $52 | $58 | $63 | $36 | $28 |  |  |
| Net charge-offs (recoveries) - loans and leases | $— | $2 | $(1) | $— | $2 | $1 | $2 |
| **Client Assets Under Administration** **&nbsp;&nbsp;&nbsp;&nbsp; (in billions) (e)(f)**  |  |  |  |  |  |  |  |
| Discretionary client assets under management |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; PNC Private Bank | $138 | $137 | $131 | $127 | $129 |  |  |
| &nbsp;&nbsp;&nbsp;Institutional Asset Management | 96 | 91 | 86 | 83 | 82 |  |  |
| Total discretionary clients assets under management | 234 | 228 | 217 | 210 | 211 |  |  |
| Nondiscretionary client assets under administration | 238 | 212 | 204 | 201 | 210 |  |  |
| &nbsp;&nbsp;&nbsp;Total | $472 | $440 | $421 | $411 | $421 |  |  |

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

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

(c)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.

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 19 |

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**Glossary of Terms**

<u>Allowance for credit losses (ACL)</u> – 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.

<u>Amortized cost basis</u> – 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.

<u>Basel III common equity tier 1 (CET1) capital (Tailoring Rules)</u> – 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.

<u>Basel III common equity tier 1 capital ratio</u> – Common equity tier 1 capital divided by period-end risk-weighted assets (as applicable).

<u>Basel III tier 1 capital</u> – 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.

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

<u>Basel III Total capital</u> – 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.

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

<u>Charge-off</u> – 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.

<u>Common shareholders' equity</u> – Total shareholders' equity less the liquidation value of preferred stock.

<u>Credit valuation adjustment</u> – Represents an adjustment to the fair value of our derivatives for our own and counterparties' non-performance risk.

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

<u>Current Expected Credit Loss (CECL</u>) – 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.

<u>Discretionary client assets under management</u> – 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.

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

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

<u>Efficiency</u> – Noninterest expense divided by total revenue.

<u>Fair value</u> – 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.

<u>Fee income</u> – 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.

<u>GAAP</u> – Accounting principles generally accepted in the United States of America.

<u>Leverage ratio</u> – Basel III tier 1 capital divided by average quarterly adjusted total assets.

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| **THE PNC FINANCIAL SERVICES GROUP, INC.** | Page 20 |

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

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

<u>Nonperforming loans</u> – 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.

<u>Operating leverage</u> – 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).

<u>Other real estate owned (OREO) and foreclosed assets</u> – 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.

<u>Risk-weighted assets</u> – 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.

<u>Supplementary leverage ratio</u> – Basel III tier 1 capital divided by Supplementary leverage exposure.

<u>Tailoring Rules</u> – 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).

<u>Taxable-equivalent interest income</u> – 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.

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

<br>