PNC ACHIEVES MLT BLACK EQUITY AT WORK CERTIFICATION

Achievement reflects PNC's ongoing commitment to diversity and inclusion

PITTSBURGH, Sept. 26, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announces that they have achieved the Management Leadership for Tomorrow (MLT) Black Equity at Work Certification. PNC stepped forward as a launch employer in 2020 and is the first financial services institution to achieve certification. This milestone acknowledges PNC's continued significant, beneficial progress toward diversity and inclusion in the workplace.

The MLT Black Equity at Work Certification is a critical resource for employers committed to Black equity. It provides the clarity, guidance, and support employers need to make tangible progress. The plan approval process helps employers develop robust, comprehensive plans to achieve certification in one to three years. The certification also provides broad-based recognition, enabling employers that take meaningful actions toward Black equity to stand out.

"Achieving certification demonstrates that PNC is on the right course, but this is not the finish line," says PNC's Chief Diversity Officer Gina Coleman. "We remain focused on and committed to continued progress. We have a responsibility to our employees, stakeholders, and the community to continue our journey toward equity, with the goal of being a better company, better employer, better neighbor, and better investment."

The Certification focuses on People, Purchasing and Philanthropy, and centers on five Pillars:

• Representation
• Compensation
• Workplace Culture
• Business Practices
• Contributions and Investments

"Becoming Black Equity at Work Certified requires a rigorous, comprehensive approach to moving the needle on racial equity. On behalf of MLT, I applaud PNC for reaching this milestone, and am grateful for our 10+ year partnership," says John Rice, founder and CEO of Management Leadership for Tomorrow.

The two-step process to achieving certification includes a comprehensive measurement framework, requirement of rigorous action, hands-on support, and accountability for achieving and sustaining measurable results. During step one, employers develop a comprehensive plan to make progress in each of the five pillars of the MLT Black Equity at Work Certification scorecard. Once the plan is approved, employers have up to three years to achieve the minimum qualifying score to become MLT Black Equity at Work Certified. The Certification framework was carefully crafted by MLT with support from Boston Consulting Group to strike the balance between rigor and achievability.

"What gets measured is often what gets done, and we're proud to see that our results indicate meaningful progress," says Vicki Henn, PNC chief human resources officer. "This accomplishment represents the work being done every day across PNC's footprint. We are optimistic that our comprehensive efforts, embedded into our business practices, will continue to move the needle toward equity."

Management Leadership for Tomorrow (MLT) is a national nonprofit working to transform our country's leadership pipelines and increase access to the American Dream. MLT provides Black, Latinx, and Native American talent with the coaching, playbook, and networks they need in order to excel in high-trajectory careers, secure economic mobility for their families, and become high-impact senior leaders equipped to advocate for vulnerable communities. MLT also provides a comprehensive solution for institutions, which combines best-in-class recruitment, retention, and diversity strategy offerings. Learn more at www.mltracialequityatwork.org.

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.

CONTACT:

Kristen Pillitteri
(412) 762-5830
Kristen.pillitteri@pnc.com

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SOURCE The PNC Financial Services Group, Inc.