Exhibit 99.2

THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2024

(Unaudited)

THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2024

(UNAUDITED)

Consolidated Results:			Page
Income Statement			1
Balance Sheet			2
Average Balance Sheet			3
Details of Net Interest Margin			4
Loans			5
Allowance for Credit Losses			6-7
Nonperforming Assets			8
Accruing Loans Past Due			9-11
Business Segment Results:
Descriptions			12
Period End Employees			12
Net Income and Revenue			13
Retail Banking			14-15
Corporate & Institutional Banking			16
Asset Management Group			17
Glossary of Terms			18-19

The information contained in this Financial Supplement is preliminary, unaudited and based on data available on April 16, 2024. 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, including residential mortgage, 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.

THE PNC FINANCIAL SERVICES GROUP, INC.
Cross Reference Index to First Quarter 2024 Financial Supplement (Unaudited)
Financial Supplement Table Reference
Table			Description			Page
1			Consolidated Income Statement			1
2			Consolidated Balance Sheet			2
3			Average Consolidated Balance Sheet			3
4			Details of Net Interest Margin			4
5			Details of Loans			5
6			Change in Allowance for Loan and Lease Losses			6
7			Components of the Provision for Credit Losses			7
8			Allowance for Credit Losses by Loan Class			7
9			Nonperforming Assets by Type			8
10			Change in Nonperforming Assets			8
11			Accruing Loans Past Due 30 to 59 Days			9
12			Accruing Loans Past Due 60 to 89 Days			10
13			Accruing Loans Past Due 90 Days or More			11
14			Period End Employees			12
15			Summary of Business Segment Net Income and Revenue			13
16			Retail Banking			14-15
17			Corporate & Institutional Banking			16
18			Asset Management Group			17

THE PNC FINANCIAL SERVICES GROUP, INC. Page 1

Table 1: Consolidated Income Statement (Unaudited)

			Three months ended
			March 31						December 31						September 30						June 30						March 31
In millions, except per share data			2024						2023						2023						2023						2023
Interest Income
Loans			$	4,819					$	4,875					$	4,643					$	4,523					$	4,258
Investment securities			883						885						892						883						885
Other			798						742						668						538						516
Total interest income			6,500						6,502						6,203						5,944						5,659
Interest Expense
Deposits			2,077						1,995						1,792						1,531						1,291
Borrowed funds			1,159						1,104						993						903						783
Total interest expense			3,236						3,099						2,785						2,434						2,074
Net interest income			3,264						3,403						3,418						3,510						3,585
Noninterest Income
Asset management and brokerage			364						360						348						348						356
Capital markets and advisory			259						309						168						213						262
Card and cash management			671						688						689						697						659
Lending and deposit services			305						314						315						298						306
Residential and commercial mortgage			147						149						201						98						177
Other (a) (b)			135						138						94						129						258
Total noninterest income			1,881						1,958						1,815						1,783						2,018
Total revenue			5,145						5,361						5,233						5,293						5,603
Provision For Credit Losses			155						232						129						146						235
Noninterest Expense
Personnel			1,794						1,983						1,773						1,846						1,826
Occupancy			244						243						244						244						251
Equipment			341						365						347						349						350
Marketing			64						74						93						109						74
Other			891						1,409						788						824						820
Total noninterest expense			3,334						4,074						3,245						3,372						3,321
Income before income taxes and noncontrolling interests			1,656						1,055						1,859						1,775						2,047
Income taxes			312						172						289						275						353
Net income			1,344						883						1,570						1,500						1,694
Less: Net income attributable to noncontrolling interests			14						19						16						17						17
Preferred stock dividends (c)			81						118						104						127						68
Preferred stock discount accretion and redemptions			2						2						2						2						2
Net income attributable to common shareholders			$	1,247					$	744					$	1,448					$	1,354					$	1,607
Earnings Per Common Share
Basic			$	3.10					$	1.85					$	3.60					$	3.36					$	3.98
Diluted			$	3.10					$	1.85					$	3.60					$	3.36					$	3.98
Average Common Shares Outstanding
Basic			400						400						400						401						401
Diluted			400						401						400						401						402
Efficiency			65		%				76		%				62		%				64		%				59		%
Noninterest income to total revenue			37		%				37		%				35		%				34		%				36		%
Effective tax rate (d)			18.8		%				16.3		%				15.5		%				15.5		%				17.2		%

(a)Includes net gains (losses) on sale of securities of less than $1 million, less than $1 million, less than $1 million, $(2) million and less than $1 million for the quarters ended March 31, 2024, December 31, 2023, September 30, 2023, June 30, 2023 and March 31, 2023, respectively.

(b)Includes Visa Class B derivative fair value adjustments of $(7) million, $(100) million, $(51) million, $(83) million and $(45) million for the quarters ended March 31, 2024, December 31, 2023, September 30, 2023, June 30, 2023 and March 31, 2023, respectively.

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

(d)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)

			March 31						December 31						September 30						June 30						March 31
In millions, except par value			2024						2023						2023						2023						2023
Assets
Cash and due from banks			$	5,933					$	6,921					$	5,300					$	6,191					$	5,940
Interest-earning deposits with banks (a)			53,612						43,804						41,484						38,259						33,865
Loans held for sale (b)			743						734						923						835						998
Investment securities – available for sale			42,280						41,785						40,590						41,787						43,220
Investment securities – held to maturity			88,180						90,784						91,797						93,874						95,019
Loans (b)			319,781						321,508						318,416						321,761						326,475
Allowance for loan and lease losses			(4,693)						(4,791)						(4,767)						(4,737)						(4,741)
Net loans			315,088						316,717						313,649						317,024						321,734
Equity investments			8,280						8,314						8,046						8,015						8,323
Mortgage servicing rights			3,762						3,686						4,006						3,455						3,293
Goodwill			10,932						10,932						10,987						10,987						10,987
Other (b)			37,352						37,903						40,552						37,780						38,398
Total assets			$	566,162					$	561,580					$	557,334					$	558,207					$	561,777
Liabilities
Deposits
Noninterest-bearing			$	98,061					$	101,285					$	105,672					$	110,527					$	118,014
Interest-bearing			327,563						320,133						317,937						316,962						318,819
Total deposits			425,624						421,418						423,609						427,489						436,833
Borrowed funds
Federal Home Loan Bank borrowings			37,000						38,000						36,000						34,000						32,020
Senior debt			27,907						26,836						22,407						22,005						19,622
Subordinated debt			4,827						4,875						4,728						5,548						5,630
Other (b)			2,973						3,026						3,032						3,831						3,550
Total borrowed funds			72,707						72,737						66,167						65,384						60,822
Allowance for unfunded lending related commitments			672						663						640						663						672
Accrued expenses and other liabilities (b)			15,785						15,621						17,437						15,325						14,376
Total liabilities			514,788						510,439						507,853						508,861						512,703
Equity
Preferred stock (c)
Common stock - $5 par value
Authorized 800,000,000 shares, issued 543,116,260, 543,116,271, 543,012,047, 543,012,047 and 542,874,855 shares			2,716						2,716						2,715						2,715						2,714
Capital surplus			19,032						19,020						19,971						19,934						19,864
Retained earnings			56,913						56,290						56,170						55,346						54,598
Accumulated other comprehensive income (loss)			(8,042)						(7,712)						(10,261)						(9,525)						(9,108)
Common stock held in treasury at cost: 145,068,954, 145,087,054, 144,671,252, 144,763,739 and 143,781,812 shares			(19,279)						(19,209)						(19,141)						(19,150)						(19,024)
Total shareholders’ equity			51,340						51,105						49,454						49,320						49,044
Noncontrolling interests			34						36						27						26						30
Total equity			51,374						51,141						49,481						49,346						49,074
Total liabilities and equity			$	566,162					$	561,580					$	557,334					$	558,207					$	561,777

(a)Amounts include balances held with the Federal Reserve Bank of $53.2 billion, $43.3 billion, $41.1 billion, $37.8 billion and $32.5 billion as of March 31, 2024, December 31, 2023, September 30, 2023, June 30, 2023 and March 31, 2023, respectively.

(b)Amounts include assets and liabilities for which PNC has elected the fair value option. Our 2023 Form 10-K included, and our first quarter 2024 Form 10-Q will include, additional information regarding these items.

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

THE PNC FINANCIAL SERVICES GROUP, INC. Page 3

Table 3: Average Consolidated Balance Sheet (Unaudited) (a) (b)
			Three months ended
			March 31						December 31						September 30						June 30						March 31
In millions			2024						2023						2023						2023						2023
Assets
Interest-earning assets:
Investment securities
Securities available for sale
Residential mortgage-backed
Agency			$	30,411					$	30,980					$	31,020					$	31,180					$	31,850
Non-agency			578						599						627						663						689
Commercial mortgage-backed			2,622						2,727						2,880						2,948						3,102
Asset-backed			1,414						1,080						989						575						218
U.S. Treasury and government agencies			8,199						7,788						7,996						8,231						9,088
Other			2,776						2,899						2,931						2,997						3,263
Total securities available for sale			46,000						46,073						46,443						46,594						48,210
Securities held to maturity
Residential mortgage-backed			42,633						43,336						44,112						45,033						45,616
Commercial mortgage-backed			2,252						2,318						2,346						2,396						2,453
Asset-backed			5,627						6,040						6,463						6,712						7,026
U.S. Treasury and government agencies			35,860						36,457						37,043						36,912						36,748
Other			3,062						3,164						3,256						3,391						3,338
Total securities held to maturity			89,434						91,315						93,220						94,444						95,181
Total investment securities			135,434						137,388						139,663						141,038						143,391
Loans
Commercial and industrial			177,258						180,566						175,206						180,878						182,017
Commercial real estate			35,522						35,617						36,032						35,938						36,110
Equipment lease financing			6,468						6,430						6,441						6,364						6,452
Consumer			53,933						54,512						54,744						55,070						55,020
Residential real estate			47,428						47,444						47,081						46,284						45,927
Total loans			320,609						324,569						319,504						324,534						325,526
Interest-earning deposits with banks (c)			48,250						42,627						38,352						31,433						34,054
Other interest-earning assets			8,002						8,738						8,777						9,215						8,806
Total interest-earning assets			512,295						513,322						506,296						506,220						511,777
Noninterest-earning assets			50,553						48,997						48,667						49,287						50,555
Total assets			$	562,848					$	562,319					$	554,963					$	555,507					$	562,332
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing deposits
Money market			$	67,838					$	66,393					$	64,310					$	63,691					$	65,753
Demand			122,748						124,124						123,730						124,111						124,376
Savings			97,719						98,490						100,643						102,415						104,408
Time deposits			32,975						30,357						25,872						22,342						20,519
Total interest-bearing deposits			321,280						319,364						314,555						312,559						315,056
Borrowed funds
Federal Home Loan Bank borrowings			37,717						37,783						34,109						33,752						32,056
Senior debt			28,475						26,634						23,479						20,910						19,679
Subordinated debt			5,082						5,091						5,293						5,850						6,100
Other			4,316						3,384						4,584						5,180						5,133
Total borrowed funds			75,590						72,892						67,465						65,692						62,968
Total interest-bearing liabilities			396,870						392,256						382,020						378,251						378,024
Noninterest-bearing liabilities and equity:
Noninterest-bearing deposits			98,875						104,567						107,981						113,178						121,176
Accrued expenses and other liabilities			16,404						16,328						15,629						15,063						16,014
Equity			50,699						49,168						49,333						49,015						47,118
Total liabilities and equity			$	562,848					$	562,319					$	554,963					$	555,507					$	562,332

(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. Basis 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). Average balances for certain loans and borrowed funds accounted for at fair value are included in noninterest-earning assets and noninterest-bearing liabilities, with changes in fair value recorded in Noninterest income.

(c)Amounts include average balances held with the Federal Reserve Bank of $47.8 billion, $42.2 billion, $37.9 billion, $30.6 billion and $33.5 billion for the three months ended March 31, 2024, December 31, 2023, September 30, 2023, June 30, 2023 and March 31, 2023, respectively.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 4

Table 4: Details of Net Interest Margin (Unaudited)
			Three months ended
			March 31						December 31						September 30						June 30						March 31
			2024						2023						2023						2023						2023
Average yields/rates (a)
Yield on interest-earning assets
Investment securities
Securities available for sale
Residential mortgage-backed
Agency			2.88		%				2.83		%				2.73		%				2.67		%				2.67		%
Non-agency			9.65		%				9.15		%				10.42		%				9.39		%				8.53		%
Commercial mortgage-backed			2.99		%				3.00		%				3.41		%				2.84		%				2.62		%
Asset-backed			6.02		%				6.41		%				6.30		%				6.56		%				7.04		%
U.S. Treasury and government agencies			2.67		%				2.22		%				2.28		%				2.20		%				2.05		%
Other			2.63		%				2.61		%				2.58		%				2.55		%				2.47		%
Total securities available for sale			3.01		%				2.89		%				2.87		%				2.73		%				2.64		%
Securities held to maturity
Residential mortgage-backed			2.77		%				2.75		%				2.72		%				2.72		%				2.74		%
Commercial mortgage-backed			5.46		%				5.53		%				5.55		%				5.35		%				4.95		%
Asset-backed			4.49		%				4.57		%				4.36		%				4.10		%				3.97		%
U.S. Treasury and government agencies			1.31		%				1.32		%				1.34		%				1.34		%				1.33		%
Other			4.52		%				4.72		%				4.57		%				4.65		%				4.62		%
Total securities held to maturity			2.42		%				2.44		%				2.42		%				2.41		%				2.41		%
Total investment securities			2.62		%				2.59		%				2.57		%				2.52		%				2.49		%
Loans
Commercial and industrial			6.18		%				6.13		%				5.86		%				5.70		%				5.34		%
Commercial real estate			6.67		%				6.68		%				6.59		%				6.37		%				6.02		%
Equipment lease financing			5.17		%				4.98		%				4.72		%				4.51		%				4.28		%
Consumer			7.16		%				7.00		%				6.89		%				6.57		%				6.34		%
Residential real estate			3.65		%				3.60		%				3.52		%				3.41		%				3.35		%
Total loans			6.01		%				5.94		%				5.75		%				5.57		%				5.29		%
Interest-earning deposits with banks			5.47		%				5.53		%				5.44		%				5.10		%				4.58		%
Other interest-earning assets			6.92		%				6.96		%				6.66		%				5.96		%				5.75		%
Total yield on interest-earning assets			5.08		%				5.03		%				4.87		%				4.70		%				4.46		%
Rate on interest-bearing liabilities
Interest-bearing deposits
Money market			3.45		%				3.32		%				3.10		%				2.79		%				2.40		%
Demand			2.26		%				2.26		%				2.15		%				1.89		%				1.58		%
Savings			1.81		%				1.68		%				1.49		%				1.26		%				1.03		%
Time deposits			4.44		%				4.11		%				3.67		%				3.26		%				3.00		%
Total interest-bearing deposits			2.60		%				2.48		%				2.26		%				1.96		%				1.66		%
Borrowed funds
Federal Home Loan Bank borrowings			5.65		%				5.66		%				5.55		%				5.28		%				4.80		%
Senior debt			6.59		%				6.25		%				6.17		%				5.91		%				5.39		%
Subordinated debt			6.64		%				6.63		%				6.52		%				6.19		%				5.69		%
Other			5.59		%				5.55		%				4.49		%				3.79		%				3.70		%
Total borrowed funds			6.07		%				5.94		%				5.77		%				5.44		%				4.98		%
Total rate on interest-bearing liabilities			3.24		%				3.10		%				2.86		%				2.56		%				2.20		%
Interest rate spread			1.84		%				1.93		%				2.01		%				2.14		%				2.26		%
Benefit from use of noninterest-bearing sources (b)			0.73		%				0.73		%				0.70		%				0.65		%				0.58		%
Net interest margin			2.57		%				2.66		%				2.71		%				2.79		%				2.84		%

(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 March 31, 2024, December 31, 2023, September 30, 2023, June 30, 2023 and March 31, 2023 were $34 million, $36 million, $36 million, $37 million and $38 million, respectively.

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

THE PNC FINANCIAL SERVICES GROUP, INC. Page 5

Table 5: Details of Loans (Unaudited)

						March 31						December 31						September 30						June 30						March 31
In millions						2024						2023						2023						2023						2023
Commercial
Commercial and industrial
Manufacturing						$	29,402					$	28,989					$	29,163					$	30,586					$	32,132
Retail/wholesale trade						28,923						28,198						28,284						28,751						29,172
Financial services						27,640						28,422						22,770						21,823						22,534
Service providers						21,413						21,354						21,680						22,277						23,186
Real estate related (a)						15,583						16,235						16,182						17,200						17,548
Health care						10,193						9,808						10,092						10,186						10,537
Technology, media & telecommunications						10,158						10,249						10,989						11,158						11,338
Transportation and warehousing						7,523						7,733						7,891						8,048						7,824
Other industries						25,957						26,592						27,112						27,600						28,726
Total commercial and industrial						176,792						177,580						174,163						177,629						182,997
Commercial real estate						35,591						35,436						35,776						35,928						35,991
Equipment lease financing						6,462						6,542						6,493						6,400						6,424
Total commercial						218,845						219,558						216,432						219,957						225,412
Consumer
Residential real estate						47,386						47,544						47,359						46,834						46,067
Home equity						25,896						26,150						26,159						26,200						26,203
Automobile						14,788						14,860						14,940						15,065						14,923
Credit card						6,887						7,180						7,060						7,092						6,961
Education						1,859						1,945						2,020						2,058						2,131
Other consumer						4,120						4,271						4,446						4,555						4,778
Total consumer						100,936						101,950						101,984						101,804						101,063
Total loans						$	319,781					$	321,508					$	318,416					$	321,761					$	326,475

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

THE PNC FINANCIAL SERVICES GROUP, INC. Page 6

Allowance for Credit Losses (Unaudited)

Table 6: Change in Allowance for Loan and Lease Losses

						Three months ended
						March 31						December 31						September 30						June 30						March 31
Dollars in millions						2024						2023						2023						2023						2023
Allowance for loan and lease losses
Beginning balance						$	4,791					$	4,767					$	4,737					$	4,741					$	4,741
Adoption of ASU 2022-02 (a)																														(35)
Beginning balance, adjusted						4,791						4,767						4,737						4,741						4,706
Gross charge-offs:
Commercial and industrial						(84)						(52)						(43)						(45)						(104)
Commercial real estate						(56)						(56)						(25)						(87)						(12)
Equipment lease financing						(8)						(7)						(4)						(3)						(4)
Residential real estate						(1)						(2)						(1)						(2)						(3)
Home equity						(10)						(6)						(4)						(5)						(6)
Automobile						(32)						(30)						(30)						(28)						(33)
Credit card						(92)						(87)						(78)						(80)						(74)
Education						(4)						(4)						(4)						(5)						(4)
Other consumer						(43)						(40)						(44)						(38)						(42)
Total gross charge-offs						(330)						(284)						(233)						(293)						(282)
Recoveries:
Commercial and industrial						19						24						45						33						20
Commercial real estate						2						2						2												2
Equipment lease financing						2						1						2						3						3
Residential real estate						3						3						3						4						3
Home equity						9						10						12						13						11
Automobile						25						23						26						27						24
Credit card						15						11						10						11						11
Education						2						2						1						2						2
Other consumer						10						8						11						6						11
Total recoveries						87						84						112						99						87
Net (charge-offs) / recoveries:
Commercial and industrial						(65)						(28)						2						(12)						(84)
Commercial real estate						(54)						(54)						(23)						(87)						(10)
Equipment lease financing						(6)						(6)						(2)												(1)
Residential real estate						2						1						2						2
Home equity						(1)						4						8						8						5
Automobile						(7)						(7)						(4)						(1)						(9)
Credit card						(77)						(76)						(68)						(69)						(63)
Education						(2)						(2)						(3)						(3)						(2)
Other consumer						(33)						(32)						(33)						(32)						(31)
Total net (charge-offs)						(243)						(200)						(121)						(194)						(195)
Provision for credit losses (b)						147						221						153						189						229
Other						(2)						3						(2)						1						1
Ending balance						$	4,693					$	4,791					$	4,767					$	4,737					$	4,741
Supplemental Information
Net charge-offs
Commercial net charge-offs						$	(125)					$	(88)					$	(23)					$	(99)					$	(95)
Consumer net charge-offs						(118)						(112)						(98)						(95)						(100)
Total net charge-offs						$	(243)					$	(200)					$	(121)					$	(194)					$	(195)
Net charge-offs to average loans (annualized)						0.30		%				0.24		%				0.15		%				0.24		%				0.24		%
Commercial						0.23		%				0.16		%				0.04		%				0.18		%				0.17		%
Consumer						0.47		%				0.44		%				0.38		%				0.38		%				0.40		%

(a)Represents the impact of adopting ASU 2022-02 Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures on January 1, 2023. Refer to our 2023 Form 10-K for additional information related to our adoption of this ASU.

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

THE PNC FINANCIAL SERVICES GROUP, INC. Page 7

Allowance for Credit Losses (Unaudited) (Continued)

Table 7: Components of the Provision for Credit Losses

						Three months ended
						March 31						December 31						September 30						June 30						March 31
In millions						2024						2023						2023						2023						2023
Provision for credit losses
Loans and leases						$	147					$	221					$	153					$	189					$	229
Unfunded lending related commitments						9						23						(23)						(9)						(22)
Investment securities						1						(7)						(10)												(1)
Other financial assets						(2)						(5)						9						(34)						29
Total provision for credit losses						$	155					$	232					$	129					$	146					$	235

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

			March 31, 2024															December 31, 2023															March 31, 2023
Dollars in millions			Allowance Amount						Total Loans			% of Total Loans						Allowance Amount						Total Loans			% of Total Loans						Allowance Amount						Total Loans			% of Total Loans
Allowance for loan and lease losses
Commercial
Commercial and industrial			$	1,673					$	176,792		0.95		%				$	1,806					$	177,580		1.02		%				$	1,771					$	182,997		0.97		%
Commercial real estate			1,468						35,591			4.12		%				1,371						35,436			3.87		%				1,171						35,991			3.25		%
Equipment lease financing			76						6,462			1.18		%				82						6,542			1.25		%				104						6,424			1.62		%
Total commercial			3,217						218,845			1.47		%				3,259						219,558			1.48		%				3,046						225,412			1.35		%
Consumer
Residential real estate			39						47,386			0.08		%				61						47,544			0.13		%				95						46,067			0.21		%
Home equity			272						25,896			1.05		%				276						26,150			1.06		%				316						26,203			1.21		%
Automobile			173						14,788			1.17		%				173						14,860			1.16		%				199						14,923			1.33		%
Credit card			749						6,887			10.88		%				766						7,180			10.67		%				782						6,961			11.23		%
Education			56						1,859			3.01		%				56						1,945			2.88		%				64						2,131			3.00		%
Other consumer			187						4,120			4.54		%				200						4,271			4.68		%				239						4,778			5.00		%
Total consumer			1,476						100,936			1.46		%				1,532						101,950			1.50		%				1,695						101,063			1.68		%
Total			4,693						$	319,781		1.47		%				4,791						$	321,508		1.49		%				4,741						$	326,475		1.45		%
Allowance for unfunded lending related commitments			672															663															672
Allowance for credit losses			$	5,365														$	5,454														$	5,413
Supplemental Information
Allowance for credit losses to total loans												1.68		%													1.70		%													1.66		%
Commercial												1.71		%													1.73		%													1.60		%
Consumer												1.60		%													1.62		%													1.79		%

(a)    Excludes allowances for investment securities and other financial assets, which together totaled $117 million, $120 million and $205 million at March 31, 2024, December 31, 2023 and March 31, 2023, respectively.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 8

Details of Nonperforming Assets (Unaudited)

Table 9: Nonperforming Assets by Type

						March 31						December 31						September 30						June 30						March 31
Dollars in millions						2024						2023						2023						2023						2023
Nonperforming loans
Commercial
Commercial and industrial
Technology, media & telecommunications						$	177					$	156					$	51					$	55					$	22
Service providers						158						157						162						114						128
Manufacturing						60						32						34						50						105
Transportation and warehousing						40						35						44						33						24
Health care						40						36						37						60						57
Retail/wholesale trade						30						30						41						41						82
Real estate related (a)						23						30						31						42						43
Other industries						50						83						58						75						87
Total commercial and industrial						578						559						458						470						548
Commercial real estate						923						735						723						350						337
Equipment lease financing						13						13						30						7						6
Total commercial						1,514						1,307						1,211						827						891
Consumer (b)
Residential real estate						284						294						330						429						432
Home equity						464						458						446						506						523
Automobile						97						104						114						133						145
Credit card						13						10						11						10						9
Other consumer						8						7						11						8						10
Total consumer						866						873						912						1,086						1,119
Total nonperforming loans (c)						2,380						2,180						2,123						1,913						2,010
OREO and foreclosed assets						35						36						35						36						38
Total nonperforming assets						$	2,415					$	2,216					$	2,158					$	1,949					$	2,048
Nonperforming loans to total loans						0.74		%				0.68		%				0.67		%				0.59		%				0.62		%
Nonperforming assets to total loans, OREO and foreclosed assets						0.76		%				0.69		%				0.68		%				0.61		%				0.63		%
Nonperforming assets to total assets						0.43		%				0.39		%				0.39		%				0.35		%				0.36		%
Allowance for loan and lease losses to nonperforming loans						197		%				220		%				225		%				248		%				236		%

(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.

Table 10: Change in Nonperforming Assets

						Three months ended
						March 31						December 31						September 30						June 30						March 31
Dollars in millions						2024						2023						2023						2023						2023
Beginning balance						$	2,216					$	2,158					$	1,949					$	2,048					$	2,019
New nonperforming assets						616						496						641						410						452
Charge-offs and valuation adjustments						(133)						(104)						(91)						(135)						(122)
Principal activity, including paydowns and payoffs						(188)						(250)						(112)						(297)						(172)
Asset sales and transfers to loans held for sale						(16)						(6)						(7)						(12)						(46)
Returned to performing status (a)						(80)						(78)						(222)						(65)						(83)
Ending balance						$	2,415					$	2,216					$	2,158					$	1,949					$	2,048

(a)Amounts for the three months ended September 30, 2023 included updates to our return to accrual guidelines to bring consistency across consumer loan classes as to how and when loans become eligible to return to performing status.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 9

Accruing Loans Past Due (Unaudited)                  

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

						March 31						December 31						September 30						June 30						March 31
Dollars in millions						2024						2023						2023						2023						2023
Commercial
Commercial and industrial						$	125					$	104					$	84					$	64					$	119
Commercial real estate						2						7						2						10						25
Equipment lease financing						22						41						25						14						33
Total commercial						149						152						111						88						177
Consumer
Residential real estate
Non government insured						179						201						179						151						167
Government insured						78						81						78						77						78
Home equity						64						63						59						56						48
Automobile						81						91						83						84						79
Credit card						49						54						50						49						48
Education
Non government insured						5						5						6						5						6
Government insured						20						22						26						28						29
Other consumer						11						16						15						17						13
Total consumer						487						533						496						467						468
Total						$	636					$	685					$	607					$	555					$	645
Supplemental Information
Total accruing loans past due 30-59 days to total loans						0.20		%				0.21		%				0.19		%				0.17		%				0.20		%
Commercial						0.07		%				0.07		%				0.05		%				0.04		%				0.08		%
Consumer						0.48		%				0.52		%				0.49		%				0.46		%				0.46		%

(a)Excludes loans held for sale.

(b)The CARES Act Credit reporting rules expired in the third quarter of 2023 and as such, delinquency status at March 31, 2024, December 31, 2023 and September 30, 2023 is being reported for all loans based on the contractual terms of the loan. Prior period amounts continue to be presented in accordance with the credit reporting rules under the CARES Act, which required certain loans modified due to pandemic related hardships to not be reported as past due based on the contractual terms of the loan, even when borrowers may not have made payments on their loans during the modification period.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 10

Accruing Loans Past Due (Unaudited) (Continued)

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

						March 31						December 31						September 30						June 30						March 31
Dollars in millions						2024						2023						2023						2023						2023
Commercial
Commercial and industrial						$	35					$	45					$	32					$	47					$	21
Commercial real estate																		2												1
Equipment lease financing						4						8						6						5						5
Total commercial						39						53						40						52						27
Consumer
Residential real estate
Non government insured						50						50						52						36						43
Government insured						42						51						51						50						55
Home equity						24						27						22						18						18
Automobile						19						20						19						20						18
Credit card						37						39						38						36						35
Education
Non government insured						4						3						3						2						4
Government insured						13						16						19						15						17
Other consumer						7						11						9						9						8
Total consumer						196						217						213						186						198
Total						$	235					$	270					$	253					$	238					$	225
Supplemental Information
Total accruing loans past due 60-89 days to total loans						0.07		%				0.08		%				0.08		%				0.07		%				0.07		%
Commercial						0.02		%				0.02		%				0.02		%				0.02		%				0.01		%
Consumer						0.19		%				0.21		%				0.21		%				0.18		%				0.20		%

(a)Excludes loans held for sale.

(b)The CARES Act Credit reporting rules expired in the third quarter of 2023 and as such, delinquency status at March 31, 2024, December 31, 2023 and September 30, 2023 is being reported for all loans based on the contractual terms of the loan. Prior period amounts continue to be presented in accordance with the credit reporting rules under the CARES Act, which required certain loans modified due to pandemic related hardships to not be reported as past due based on the contractual terms of the loan, even when borrowers may not have made payments on their loans during the modification period.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 11

Accruing Loans Past Due (Unaudited) (Continued)

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

						March 31						December 31						September 30						June 30						March 31
Dollars in millions						2024						2023						2023						2023						2023
Commercial
Commercial and industrial						$	90					$	76					$	102					$	112					$	134
Commercial real estate												9
Total commercial						90						85						102						112						134
Consumer
Residential real estate
Non government insured						38						38						36						30						26
Government insured						137						154						146						144						152
Automobile						5						7						6						5						5
Credit card						82						86						80						71						74
Education
Non government insured						3						2						2						2						2
Government insured						40						47						46						46						54
Other consumer						9						10						9						9						9
Total consumer						314						344						325						307						322
Total						$	404					$	429					$	427					$	419					$	456
Supplemental Information
Total accruing loans past due 90 days or more to total loans						0.13		%				0.13		%				0.13		%				0.13		%				0.14		%
Commercial						0.04		%				0.04		%				0.05		%				0.05		%				0.06		%
Consumer						0.31		%				0.34		%				0.32		%				0.30		%				0.32		%
Total accruing loans past due						$	1,275					$	1,384					$	1,287					$	1,212					$	1,326
Commercial						$	278					$	290					$	253					$	252					$	338
Consumer						$	997					$	1,094					$	1,034					$	960					$	988
Total accruing loans past due to total loans						0.40		%				0.43		%				0.40		%				0.38		%				0.41		%
Commercial						0.13		%				0.13		%				0.12		%				0.11		%				0.15		%
Consumer						0.99		%				1.07		%				1.01		%				0.94		%				0.98		%

(a)Excludes loans held for sale.

(b)The CARES Act Credit reporting rules expired in the third quarter of 2023 and as such, delinquency status at March 31, 2024, December 31, 2023 and September 30, 2023 is being reported for all loans based on the contractual terms of the loan. Prior period amounts continue to be presented in accordance with the credit reporting rules under the CARES Act, which required certain loans modified due to pandemic related hardships to not be reported as past due based on the contractual terms of the loan, even when borrowers may not have made payments on their loans during the modification period.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 12

Business Segment Descriptions (Unaudited)

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

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

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

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

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

Table 14: Period End Employees

			March 31						December 31						September 30						June 30						March 31
			2024						2023						2023						2023						2023
Full-time employees
Retail Banking			28,580						28,761						29,692						30,446						31,583
Other full-time employees			25,861						26,052						27,725						27,785						27,874
Total full-time employees			54,441						54,813						57,417						58,231						59,457
Part-time employees
Retail Banking			1,554						1,540						1,480						1,567						1,537
Other part-time employees			56						58						70						503						79
Total part-time employees			1,610						1,598						1,550						2,070						1,616
Total			56,051						56,411						58,967						60,301						61,073

THE PNC FINANCIAL SERVICES GROUP, INC. Page 13

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

			Three months ended
			March 31						December 31						September 30						June 30						March 31
In millions			2024						2023						2023						2023						2023
Net Income
Retail Banking			$	1,085					$	1,073					$	1,094					$	954					$	647
Corporate & Institutional Banking			1,121						1,213						960						817						1,059
Asset Management Group			97						72						73						63						52
Other			(973)						(1,494)						(573)						(351)						(81)
Net income excluding noncontrolling interests			$	1,330					$	864					$	1,554					$	1,483					$	1,677
Revenue
Retail Banking			$	3,381					$	3,391					$	3,360					$	3,150					$	3,024
Corporate & Institutional Banking			2,437						2,637						2,254						2,202						2,300
Asset Management Group			387						380						362						353						357
Other			(1,060)						(1,047)						(743)						(412)						(78)
Total revenue			$	5,145					$	5,361					$	5,233					$	5,293					$	5,603

(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.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 14

Table 16: Retail Banking (Unaudited) (a)

			Three months ended
			March 31						December 31						September 30						June 30						March 31
Dollars in millions			2024						2023						2023						2023						2023
Income Statement
Net interest income			$	2,617					$	2,669					$	2,576					$	2,448					$	2,281
Noninterest income			764						722						784						702						743
Total revenue			3,381						3,391						3,360						3,150						3,024
Provision for (recapture of) credit losses			118						130						42						(14)						238
Noninterest expense			1,837						1,848						1,876						1,904						1,927
Pretax earnings			1,426						1,413						1,442						1,260						859
Income taxes			333						329						337						295						202
Noncontrolling interests			8						11						11						11						10
Earnings			$	1,085					$	1,073		752			$	1,094		322			$	954					$	647
Average Balance Sheet
Loans held for sale			$	478					$	488					$	633					$	614					$	542
Loans
Consumer
Residential real estate			$	34,600					$	34,951					$	35,107					$	35,150					$	35,421
Home equity			24,462						24,569						24,591						24,663						24,571
Automobile			14,839						14,875						14,976						15,005						14,918
Credit card			6,930						7,084						7,075						7,015						6,904
Education			1,933						2,001						2,057						2,115						2,188
Other consumer			1,771						1,840						1,882						1,929						1,990
Total consumer			84,535						85,320						85,688						85,877						85,992
Commercial			12,620						12,088						11,733						11,708						11,438
Total loans			$	97,155					$	97,408					$	97,421					$	97,585					$	97,430
Total assets			$	114,199					$	114,730					$	114,724					$	114,826					$	115,384
Deposits
Noninterest-bearing			$	53,395					$	55,948					$	58,110					$	59,464					$	60,801
Interest-bearing			195,615						195,314						195,560						197,854						201,720
Total deposits			$	249,010					$	251,262					$	253,670					$	257,318					$	262,521
Performance Ratios
Return on average assets			3.85		%				3.71		%				3.78		%				3.33		%				2.27		%
Noninterest income to total revenue			23		%				21		%				23		%				22		%				25		%
Efficiency			54		%				54		%				56		%				60		%				64		%

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

THE PNC FINANCIAL SERVICES GROUP, INC. Page 15

Retail Banking (Unaudited) (Continued)

			Three months ended
			March 31						December 31						September 30						June 30						March 31
Dollars in millions, except as noted			2024						2023						2023						2023						2023
Supplemental Noninterest Income Information
Asset management and brokerage			$	137					$	139					$	130					$	123					$	131
Card and cash management			$	306					$	326					$	329					$	344					$	324
Lending and deposit services			$	178					$	186					$	193					$	176					$	181
Residential and commercial mortgage			$	97					$	117					$	128					$	75					$	104
Residential Mortgage Information
Residential mortgage servicing statistics (in billions, except as noted) (a)
Serviced portfolio balance (b)			$	207					$	209					$	213					$	191					$	188
MSR asset value (b)			$	2.7					$	2.7					$	2.8					$	2.3					$	2.2
Servicing income: (in millions)
Servicing fees, net (c)			$	82					$	89					$	67					$	67					$	78
Mortgage servicing rights valuation net of economic hedge			$	(6)					$	11					$	37					$	(9)					$	14
Residential mortgage loan statistics
Loan origination volume (in billions)			$	1.3					$	1.5					$	2.1					$	2.4					$	1.4
Loan sale margin percentage			2.53		%				2.45		%				2.43		%				2.23		%				2.26		%
Other Information
Credit-related statistics
Nonperforming assets (b)			$	841					$	834					$	856					$	981					$	1,009
Net charge-offs - loans and leases			$	139					$	128					$	114					$	109					$	112
Other statistics
Branches (b) (d)			2,271						2,299						2,303						2,361						2,450
Brokerage account client assets (in billions) (b) (e)			$	81					$	78					$	73					$	75					$	73

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

(b)Presented as of period end.

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

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

(e)Includes cash and money market balances.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 16

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

			Three months ended
			March 31						December 31						September 30						June 30						March 31
Dollars in millions			2024						2023						2023						2023						2023
Income Statement
Net interest income			$	1,549					$	1,642					$	1,419					$	1,381					$	1,414
Noninterest income			888						995						835						821						886
Total revenue			2,437						2,637						2,254						2,202						2,300
Provision for (recapture of) credit losses			47						115						102						209						(28)
Noninterest expense			922						975						895						921						939
Pretax earnings			1,468						1,547						1,257						1,072						1,389
Income taxes			342						330						292						250						325
Noncontrolling interests			5						4						5						5						5
Earnings			$	1,121					$	1,213					$	960					$	817					$	1,059
Average Balance Sheet
Loans held for sale			$	151					$	450					$	283					$	440					$	456
Loans
Commercial
Commercial and industrial			$	163,326					$	167,185					$	161,810					$	167,357					$	168,874
Commercial real estate			34,420						34,488						34,587						34,410						34,605
Equipment lease financing			6,467						6,430						6,441						6,364						6,451
Total commercial			204,213						208,103						202,838						208,131						209,930
Consumer			3						5						4						5						7
Total loans			$	204,216					$	208,108					$	202,842					$	208,136					$	209,937
Total assets			$	228,698					$	234,590					$	230,082					$	234,174					$	234,536
Deposits
Noninterest-bearing			$	43,854					$	46,880					$	48,123					$	51,948					$	58,529
Interest-bearing			98,841						97,660						93,563						89,068						86,832
Total deposits			$	142,695					$	144,540					$	141,686					$	141,016					$	145,361
Performance Ratios
Return on average assets			1.99		%				2.05		%				1.66		%				1.40		%				1.83		%
Noninterest income to total revenue			36		%				38		%				37		%				37		%				39		%
Efficiency			38		%				37		%				40		%				42		%				41		%
Other Information
Consolidated revenue from:
Treasury Management (b)			$	936					$	1,044					$	849					$	778					$	785
Commercial mortgage banking activities:
Commercial mortgage loans held for sale (c)			$	10					$	17					$	17					$	13					$	27
Commercial mortgage loan servicing income (d)			67						59						43						44						39
Commercial mortgage servicing rights valuation, net of economic hedge			37						19						54						4						41
Total			$	114					$	95					$	114					$	61					$	107
Commercial mortgage servicing statistics
Serviced portfolio balance (in billions) (e)			$	287					$	288					$	282					$	280					$	281
MSR asset value (e)			$	1,075					$	1,032					$	1,169					$	1,106					$	1,061
Average loans by C&IB business
Corporate Banking			$	116,845					$	119,916					$	113,538					$	117,259					$	119,602
Real Estate			46,608						47,028						47,234						47,692						47,297
Business Credit			28,929						29,252						29,900						30,613						30,180
Commercial Banking			7,546						7,591						7,861						8,225						8,430
Other			4,288						4,321						4,309						4,347						4,428
Total average loans			$	204,216					$	208,108					$	202,842					$	208,136					$	209,937
Credit-related statistics
Nonperforming assets (e)			$	1,419					$	1,217					$	1,130					$	738					$	801
Net charge-offs - loans and leases			$	108					$	76					$	12					$	93					$	85

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

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

(c)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.

(d)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.

(e)Presented as of period end.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 17

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

			Three months ended
			March 31						December 31						September 30						June 30						March 31
Dollars in millions, except as noted			2024						2023						2023						2023						2023
Income Statement
Net interest income			$	157					$	156					$	139					$	125					$	127
Noninterest income			230						224						223						228						230
Total revenue			387						380						362						353						357
Provision for (recapture of) credit losses			(5)						2						(4)						(10)						9
Noninterest expense			265						284						271						280						280
Pretax earnings			127						94						95						83						68
Income taxes			30						22						22						20						16
Earnings			$	97					$	72					$	73					$	63					$	52
Average Balance Sheet
Loans
Consumer
Residential real estate			$	11,688					$	11,314					$	10,750					$	9,855					$	9,174
Other consumer			3,758						3,893						3,901						4,065						4,156
Total consumer			15,446						15,207						14,651						13,920						13,330
Commercial			849						867						1,090						1,229						1,246
Total loans			$	16,295					$	16,074					$	15,741					$	15,149					$	14,576
Total assets			$	16,728					$	16,505					$	16,161					$	15,562					$	14,997
Deposits
Noninterest-bearing			$	1,617					$	1,742					$	1,756					$	1,787					$	1,846
Interest-bearing			27,064						26,479						25,417						25,482						26,337
Total deposits			$	28,681					$	28,221					$	27,173					$	27,269					$	28,183
Performance Ratios
Return on average assets			2.35		%				1.73		%				1.79		%				1.62		%				1.41		%
Noninterest income to total revenue			59		%				59		%				62		%				65		%				64		%
Efficiency			68		%				75		%				75		%				79		%				78		%
Other Information
Nonperforming assets (b)			$	28					$	39					$	39					$	41					$	42
Net charge-offs (recoveries) - loans and leases									$	(1)											$	(2)
Client Assets Under Administration (in billions) (b) (c)
Discretionary client assets under management
PNC Private Bank			$	124					$	117					$	109					$	111					$	108
Institutional Asset Management			71						72						67						65						69
Total discretionary clients assets under management			195						189						176						176						177
Nondiscretionary client assets under administration			199						179						170						168						156
Total			$	394					$	368					$	346					$	344					$	333

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

(b)Presented as of period end.

(c)Excludes brokerage account client assets.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 18

Glossary of Terms

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Efficiency – Noninterest expense divided by total revenue.

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

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

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

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

THE PNC FINANCIAL SERVICES GROUP, INC. Page 19

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

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

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

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

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

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

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

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

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

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

Troubled debt restructuring (TDR) – A loan whose terms have been restructured in a manner that grants a concession to a borrower experiencing financial difficulties. On January 1, 2023, we adopted ASU 2022-02, which eliminated the accounting guidance for TDRs.

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