Exhibit 99.1

THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2021

(Unaudited)

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THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2021

(UNAUDITED)

Consolidated Results:			Page
Income Statement			1
Balance Sheet			2
Average Balance Sheet			3
Details of Net Interest Margin			4
Per Share Related Information			5
Loans			6
Allowance for Credit Losses			7-8
Nonperforming Assets			9-10
Accruing Loans Past Due			11-12
Business Segment Results:
Descriptions			13
Period End Employees			13
Net Income and Revenue			14
Retail Banking			15-16
Corporate & Institutional Banking			17
Asset Management Group			18
Glossary of Terms			19-21

The information contained in this Financial Supplement is preliminary, unaudited and based on data available on April 16, 2021. We have reclassified certain prior period amounts to be consistent with the current period presentation, which we believe is more meaningful to readers of our consolidated financial statements. 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 primarily in markets across the Mid-Atlantic, Midwest and Southeast. PNC also has strategic international offices in four countries outside the U.S.

DISCONTINUED OPERATIONS

On May 15, 2020, PNC completed the sale of its 31.6 million shares of BlackRock, Inc., common and preferred stock through a registered secondary offering. In addition, BlackRock repurchased 2.65 million shares from PNC. The total proceeds from the sale were $14.2 billion in cash, net of $0.2 billion in expenses, and resulted in a gain on sale of $4.3 billion. Additionally, PNC contributed 500,000 BlackRock shares to the PNC Foundation on May 18, 2020. As a result, PNC has divested its entire holding in BlackRock. PNC and its affiliates only hold shares of BlackRock stock in a fiduciary capacity for clients of PNC and its affiliates. Activity for BlackRock for all periods presented on the Consolidated Income Statement have been reclassified to discontinued operations and prior period BlackRock investment balances have been reclassified to the Asset held for sale line on the Consolidated Balance Sheet in accordance with Accounting Standard Codification (ASC) 205-20, Presentation of Financial Statements - Discontinued Operations.

PENDING ACQUISITION OF BBVA USA BANCSHARES, INC.

On November 16, 2020, PNC announced the signing of a definitive agreement with BBVA, S.A. to acquire BBVA USA Bancshares, Inc., a U.S. financial holding company conducting its business operations primarily through its U.S. banking subsidiary, BBVA USA for a fixed purchase price of $11.6 billion in cash. BBVA USA has over 600 branches in Texas, Alabama, Arizona, California, Florida, Colorado and New Mexico. The transaction is expected to add approximately $102 billion in total assets, $86 billion of deposits and $66 billion of loans to PNC's Consolidated Balance Sheet and to close in mid-2021, subject to customary closing conditions, including receipt of regulatory approvals.

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THE PNC FINANCIAL SERVICES GROUP, INC.
Cross Reference Index to First Quarter 2021 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			Per Share Related Information			5
6			Details of Loans			6
7			Change in Allowance for Loan and Lease Losses			7
8			Components of the Provision for (Recapture of) Credit Losses Under CECL			8
9			Allowance for Credit Losses by Loan Class			8
10			Nonperforming Assets by Type			9
11			Change in Nonperforming Assets			10
12			Largest Individual Nonperforming Assets			10
13			Accruing Loans Past Due 30 to 59 Days			11
14			Accruing Loans Past Due 60 to 89 Days			11
15			Accruing Loans Past Due 90 Days or More			12
16			Period End Employees			13
17			Summary of Business Segment Income and Revenue			14
18			Retail Banking			15-16
19			Corporate & Institutional Banking			17
20			Asset Management Group			18

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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			2021						2020						2020						2020						2020
Interest Income
Loans			$	1,996					$	2,074					$	2,116					$	2,257					$	2,480
Investment securities			421						442						490						527						582
Other			66						60						70						71						138
Total interest income			2,483						2,576						2,676						2,855						3,200
Interest Expense
Deposits			40						53						74						141						375
Borrowed funds			95						99						118						187						314
Total interest expense			135						152						192						328						689
Net interest income			2,348						2,424						2,484						2,527						2,511
Noninterest Income
Asset management			226						221						215						199						201
Consumer services			384						387						390						330						377
Corporate services			555						650						479						512						526
Residential mortgage			105						99						137						158						210
Service charges on deposits			119						134						119						79						168
Other (a)			483						293						457						271						343
Total noninterest income			1,872						1,784						1,797						1,549						1,825
Total revenue			4,220						4,208						4,281						4,076						4,336
Provision For (Recapture of) Credit Losses			(551)						(254)						52						2,463						914
Noninterest Expense
Personnel			1,477						1,521						1,410						1,373						1,369
Occupancy			215						215						205						199						207
Equipment			293						296						292						301						287
Marketing			45						64						67						47						58
Other			544						612						557						595						622
Total noninterest expense			2,574						2,708						2,531						2,515						2,543
Income (loss) from continuing operations before income taxes and noncontrolling interests			2,197						1,754						1,698						(902)						879
Income taxes (benefit) from continuing operations			371						298						166						(158)						120
Net income (loss) from continuing operations			1,826						1,456						1,532						(744)						759
Income from discontinued operations before taxes																					5,596						181
Income taxes from discontinued operations																					1,197						25
Net income from discontinued operations																					4,399						156
Net income			1,826						1,456						1,532						3,655						915
Less: Net income attributable to noncontrolling interests			10						14						13						7						7
Preferred stock dividends (b)			57						48						63						55						63
Preferred stock discount accretion and redemptions			1						1						1						1						1
Net income attributable to common shareholders			$	1,758					$	1,393					$	1,455					$	3,592					$	844
Earnings Per Common Share
Basic earnings (loss) from continuing operations			$	4.11					$	3.26					$	3.40					$	(1.90)					$	1.59
Basic earnings from discontinued operations																					10.28						0.37
Total basic earnings			$	4.11					$	3.26					$	3.40					$	8.40					$	1.96
Diluted earnings (loss) from continuing operations			$	4.10					$	3.26					$	3.39					$	(1.90)					$	1.59
Diluted earnings from discontinued operations																					10.28						0.36
Total diluted earnings			$	4.10					$	3.26					$	3.39					$	8.40					$	1.95
Average Common Shares Outstanding
Basic			426						425						426						426						429
Diluted			426						426						426						426						430
Efficiency			61		%				64		%				59		%				62		%				59		%
Noninterest income to total revenue			44		%				42		%				42		%				38		%				42		%
Effective tax rate from continuing operations (c)			16.9		%				17.0		%				9.8		%				17.5		%				13.7		%

(a)Includes net gains on sales of securities of $25 million, $51 million, $32 million, $40 million and $182 million for the quarters ended March 31, 2021, December 31, 2020, September 30, 2020, June 30, 2020 and March 31, 2020, respectively.

(b)Dividends are payable quarterly other than Series O, Series R and Series S preferred stock, which are payable semiannually, with the Series O payable in different quarters than the Series R and Series S preferred stock.

(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.

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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			2021						2020						2020						2020						2020
Assets
Cash and due from banks			$	7,455					$	7,017					$	6,629					$	6,338					$	7,493
Interest-earning deposits with banks (a)			86,161						85,173						70,959						50,233						19,986
Loans held for sale (b)			1,967						1,597						1,787						1,443						1,693
Asset held for sale (c)																											8,511
Investment securities – available for sale			96,799						87,358						89,747						97,052						89,077
Investment securities – held to maturity			1,456						1,441						1,438						1,441						1,469
Loans (b)			237,013						241,928						249,279						258,236						264,643
Allowance for loan and lease losses			(4,714)						(5,361)						(5,751)						(5,928)						(3,944)
Net loans			232,299						236,567						243,528						252,308						260,699
Equity investments			6,386						6,052						4,938						4,943						4,694
Mortgage servicing rights			1,680						1,242						1,113						1,067						1,082
Goodwill			9,317						9,233						9,233						9,233						9,233
Other (b)			30,894						30,999						32,445						34,920						41,556
Total assets			$	474,414					$	466,679					$	461,817					$	458,978					$	445,493
Liabilities
Deposits
Noninterest-bearing			$	120,641					$	112,637					$	107,281					$	99,458					$	81,614
Interest-bearing			254,426						252,708						247,798						246,539						223,590
Total deposits			375,067						365,345						355,079						345,997						305,204
Borrowed funds
Federal Home Loan Bank borrowings			1,500						3,500						5,500						8,500						23,491
Bank notes and senior debt			22,139						24,271						26,839						27,704						31,438
Subordinated debt			6,241						6,403						6,465						6,500						6,475
Other (b)			3,150						3,021						3,306						4,322						11,995
Total borrowed funds			33,030						37,195						42,110						47,026						73,399
Allowance for unfunded lending related commitments			507						584						689						662						450
Accrued expenses and other liabilities			11,931						9,514						10,629						12,345						17,150
Total liabilities			420,535						412,638						408,507						406,030						396,203
Equity
Preferred stock (d)
Common stock - $5 par value
Authorized 800 shares, issued 543, 543, 542, 542, and 542 shares			2,713						2,713						2,712						2,712						2,712
Capital surplus			15,879						15,884						15,836						16,284						16,288
Retained earnings			48,113						46,848						45,947						44,986						41,885
Accumulated other comprehensive income			1,290						2,770						2,997						3,069						2,518
Common stock held in treasury at cost:118, 119, 118, 117 and 118 shares			(14,146)						(14,205)						(14,216)						(14,128)						(14,140)
Total shareholders’ equity			53,849						54,010						53,276						52,923						49,263
Noncontrolling interests			30						31						34						25						27
Total equity			53,879						54,041						53,310						52,948						49,290
Total liabilities and equity			$	474,414					$	466,679					$	461,817					$	458,978					$	445,493

(a)Amounts include balances held with the Federal Reserve Bank of Cleveland of $85.8 billion, $84.9 billion, $70.6 billion, $50.0 billion and $19.6 billion as of March 31, 2021, December 31, 2020, September 30, 2020, June 30, 2020 and March 31, 2020, respectively.

(b)Amounts include assets and liabilities for which PNC has elected the fair value option. Our 2020 Form 10-K included, and our first quarter 2021 Form 10-Q will include, additional information regarding these items.

(c)Represents our held for sale investment in BlackRock. In the second quarter of 2020, PNC divested its entire holding in BlackRock. Prior period BlackRock investment balances have been reclassified to the Asset held for sale line in accordance with Accounting Standards Codification 205-20, Presentation of Financial Statements - Discontinued Operations. Our 2020 Form 10-K included additional information related to this divestiture.

(d)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)
			Three months ended
			March 31						December 31						September 30						June 30						March 31
In millions			2021						2021						2020						2020						2020
Assets
Interest-earning assets:
Investment securities
Securities available for sale
Residential mortgage-backed
Agency			$	45,298					$	48,036					$	52,215					$	52,500					$	49,636
Non-agency			1,236						1,337						1,437						1,529						1,617
Commercial mortgage-backed			6,241						6,568						6,927						7,232						6,734
Asset-backed			5,304						5,017						5,033						5,309						5,003
U.S. Treasury and government agencies			22,309						18,783						18,724						15,457						15,938
Other			4,561						4,561						4,723						4,952						4,024
Total securities available for sale			84,949						84,302						89,059						86,979						82,952
Securities held to maturity
Asset-backed																					22						51
U.S. Treasury and government agencies			797						793						788						783						779
Other			650						650						655						646						640
Total securities held to maturity			1,447						1,443						1,443						1,451						1,470
Total investment securities			86,396						85,745						90,502						88,430						84,422
Loans
Commercial and industrial			129,996						134,944						139,795						153,595						128,723
Commercial real estate			28,598						28,991						29,081						28,707						28,275
Equipment lease financing			6,332						6,380						6,771						7,035						7,066
Consumer			50,904						52,872						54,692						56,485						57,680
Residential real estate			22,305						22,638						22,753						22,292						21,828
Total loans			238,135						245,825						253,092						268,114						243,572
Interest-earning deposits with banks (b)			85,410						76,374						60,327						34,600						17,569
Other interest-earning assets			7,829						8,134						9,752						10,867						9,468
Total interest-earning assets			417,770						416,078						413,673						402,011						355,031
Noninterest-earning assets			50,450						48,901						48,466						55,302						57,405
Total assets			$	468,220					$	464,979					$	462,139					$	457,313					$	412,436
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing deposits
Money market			$	59,083					$	62,621					$	63,598					$	61,346					$	53,287
Demand			91,619						88,026						87,226						82,881						70,931
Savings			82,926						79,430						77,479						75,345						69,977
Time deposits			18,449						19,448						20,248						21,873						21,141
Total interest-bearing deposits			252,077						249,525						248,551						241,445						215,336
Borrowed funds
Federal Home Loan Bank borrowings			2,411						4,761						7,196						12,559						13,440
Bank notes and senior debt			22,799						24,022						25,858						28,298						29,988
Subordinated debt			5,929						5,936						5,936						5,937						5,934
Other			4,057						3,433						4,354						6,435						7,826
Total borrowed funds			35,196						38,152						43,344						53,229						57,188
Total interest-bearing liabilities			287,273						287,677						291,895						294,674						272,524
Noninterest-bearing liabilities and equity:
Noninterest-bearing deposits			113,299						109,878						101,931						93,776						74,396
Accrued expenses and other liabilities			14,258						14,348						15,341						16,989						16,437
Equity			53,390						53,076						52,972						51,874						49,079
Total liabilities and equity			$	468,220					$	464,979					$	462,139					$	457,313					$	412,436

(a)Calculated using average daily balances.

(b)Amounts include average balances held with the Federal Reserve Bank of Cleveland of $85.2 billion, $76.1 billion, $60.0 billion, $34.2 billion and $17.3 billion for the three months ended March 31, 2021, December 31, 2020, September 30, 2020, June 30, 2020 and March 31, 2020, respectively.

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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
			2021						2020						2020						2020						2020
Average yields/rates (a)
Yield on interest-earning assets
Investment securities
Securities available for sale
Residential mortgage-backed
Agency			1.72		%				1.81		%				2.03		%				2.29		%				2.63		%
Non-agency			7.24		%				7.15		%				7.26		%				7.13		%				7.87		%
Commercial mortgage-backed			2.58		%				2.66		%				2.50		%				2.59		%				2.95		%
Asset-backed			1.84		%				2.04		%				2.44		%				2.60		%				3.05		%
U.S. Treasury and government agencies			1.68		%				1.77		%				1.64		%				1.77		%				2.29		%
Other			3.28		%				3.45		%				3.39		%				3.47		%				3.69		%
Total securities available for sale			1.95		%				2.05		%				2.16		%				2.39		%				2.77		%
Securities held to maturity
Asset-backed																					2.38		%				2.77		%
U.S. Treasury and government agencies			2.83		%				2.88		%				2.86		%				2.84		%				2.84		%
Other			4.17		%				4.20		%				4.20		%				4.27		%				4.48		%
Total securities held to maturity			3.43		%				3.47		%				3.47		%				3.47		%				3.56		%
Total investment securities			1.97		%				2.08		%				2.18		%				2.41		%				2.78		%
Loans
Commercial and industrial			2.91		%				2.87		%				2.82		%				2.83		%				3.62		%
Commercial real estate			2.80		%				2.63		%				2.65		%				2.84		%				3.64		%
Equipment lease financing			3.90		%				3.90		%				3.80		%				3.82		%				3.93		%
Consumer			4.78		%				4.74		%				4.69		%				4.86		%				5.38		%
Residential real estate			3.53		%				3.69		%				3.74		%				3.86		%				3.96		%
Total loans			3.38		%				3.35		%				3.32		%				3.37		%				4.08		%
Interest-earning deposits with banks			0.10		%				0.10		%				0.10		%				0.10		%				1.27		%
Other interest-earning assets			2.34		%				1.99		%				2.23		%				2.26		%				3.51		%
Total yield on interest-earning assets			2.40		%				2.46		%				2.57		%				2.85		%				3.62		%
Rate on interest-bearing liabilities
Interest-bearing deposits
Money market			0.03		%				0.05		%				0.07		%				0.15		%				0.72		%
Demand			0.04		%				0.04		%				0.05		%				0.08		%				0.41		%
Savings			0.06		%				0.08		%				0.11		%				0.31		%				0.79		%
Time deposits			0.32		%				0.41		%				0.58		%				0.80		%				1.34		%
Total interest-bearing deposits			0.06		%				0.08		%				0.12		%				0.23		%				0.70		%
Borrowed funds
Federal Home Loan Bank borrowings			0.43		%				0.40		%				0.47		%				1.00		%				1.69		%
Bank notes and senior debt			1.04		%				1.00		%				1.08		%				1.56		%				2.41		%
Subordinated debt			1.43		%				1.38		%				1.51		%				1.91		%				2.73		%
Other			1.21		%				1.39		%				1.31		%				0.92		%				1.69		%
Total borrowed funds			1.09		%				1.02		%				1.06		%				1.39		%				2.18		%
Total rate on interest-bearing liabilities			0.19		%				0.21		%				0.26		%				0.44		%				1.00		%
Interest rate spread			2.21		%				2.25		%				2.31		%				2.41		%				2.62		%
Benefit from use of noninterest bearing sources (b)			0.06						0.07						0.08						0.11						0.22
Net interest margin			2.27		%				2.32		%				2.39		%				2.52		%				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, 2021, December 31, 2020, September 30, 2020, June 30, 2020 and March 31, 2020 were $15 million, $17 million, $17 million, $19 million and $22 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

Table 5: Per Share Related Information (Unaudited)
			Three months ended
			March 31						December 31						September 30						June 30						March 31
In millions, except per share data			2021						2020						2020						2020						2020
Basic
Net income (loss) from continuing operations			$	1,826					$	1,456					$	1,532					$	(744)					$	759
Less:
Net income attributable to noncontrolling interests			10						14						13						7						7
Preferred stock dividends			57						48						63						55						63
Preferred stock discount accretion and redemptions			1						1						1						1						1
Net income (loss) from continuing operations attributable to common shareholders			1,758						1,393						1,455						(807)						688
Less: Dividends and undistributed earnings allocated to nonvested restricted shares			8						6						8						1						3
Net income (loss) from continuing operations attributable to basic common shareholders			$	1,750					$	1,387					$	1,447					$	(808)					$	685
Net income from discontinued operations attributable to common shareholders																					$	4,399					$	156
Less: Undistributed earnings allocated to nonvested restricted shares																					21						1
Net income from discontinued operations attributable to basic common shareholders																					$	4,378					$	155
Basic weighted-average common shares outstanding			426						425						426						426						429
Basic earnings (loss) per common share from continuing operations (a)			$	4.11					$	3.26					$	3.40					$	(1.90)					$	1.59
Basic earnings per common share from discontinued operations (a)																					$	10.28					$	0.37
Basic earnings per common share			$	4.11					$	3.26					$	3.40					$	8.40					$	1.96
Diluted
Net income (loss) from continuing operations attributable to diluted common shareholder			$	1,750					$	1,387					$	1,447					$	(808)					$	685
Net income from discontinued operations attributable to basic common shareholders																					$	4,378					$	155
Less: Impact of earnings per share dilution from discontinued operations																					1						1
Net income from discontinued operations attributable to diluted common shareholders																					$	4,377					$	154
Basic weighted-average common shares outstanding			426						425						426						426						429
Dilutive potential common shares									1																		1
Diluted weighted-average common shares outstanding			426						426						426						426						430
Diluted earnings (loss) per common share from continuing operations (a)			$	4.10					$	3.26					$	3.39					$	(1.90)					$	1.59
Diluted earnings per common share from discontinued operations (a)																					$	10.28					$	0.36
Diluted earnings per common share			$	4.10					$	3.26					$	3.39					$	8.40					$	1.95

(a)Dividends are payable quarterly other than the Series O, Series R and Series S preferred stock, which are payable semiannually, with the Series O payable in different quarters than the Series R and Series S preferred stock.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 6

Table 6: Details of Loans (Unaudited)

						March 31						December 31						September 30						June 30						March 31
In millions						2021						2020						2020						2020						2020
Commercial
Commercial and industrial
Retail/wholesale trade						$	20,349					$	20,218					$	20,287					$	21,747					$	24,408
Manufacturing						20,032						20,712						22,551						25,590						27,225
Service providers						19,403						19,419						20,260						21,347						19,411
Financial services						13,382						14,909						15,005						13,596						13,473
Real estate related (a)						13,052						13,369						14,040						14,634						14,843
Health care						8,741						8,987						9,368						10,109						9,238
Transportation and warehousing						6,751						7,095						7,295						7,771						8,160
Other industries						28,088						27,364						28,381						29,541						32,373
Total commercial and industrial						129,798						132,073						137,187						144,335						149,131
Commercial real estate						28,319						28,716						29,028						28,763						28,544
Equipment lease financing						6,389						6,414						6,479						7,097						7,061
Total commercial						164,506						167,203						172,694						180,195						184,736
Consumer
Home equity						23,493						24,088						24,539						24,879						25,081
Residential real estate						22,418						22,560						22,886						22,469						22,250
Automobile						13,584						14,218						14,977						16,157						17,194
Credit card						5,675						6,215						6,303						6,575						7,132
Education						2,842						2,946						3,051						3,132						3,247
Other consumer						4,495						4,698						4,829						4,829						5,003
Total consumer						72,507						74,725						76,585						78,041						79,907
Total loans						$	237,013					$	241,928					$	249,279					$	258,236					$	264,643

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

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 7

Allowance for Credit Losses (Unaudited)

Table 7: Change in Allowance for Loan and Lease Losses

						Three months ended
						March 31						December 31						September 30						June 30						March 31
Dollars in millions						2021						2020						2020						2020						2020
Allowance for loan and lease losses
Beginning balance						$	5,361					$	5,751					$	5,928					$	3,944					$	2,742
Adoption of ASU 2016-03 (a)																														463
Gross charge-offs:
Commercial and industrial						(59)						(133)						(59)						(112)						(78)
Commercial real estate						(5)						(1)						(1)
Equipment lease financing						(5)						(4)						(4)						(10)						(5)
Home equity						(7)						(11)						(12)						(8)						(11)
Residential real estate						(4)						(6)						(2)												(2)
Automobile						(52)						(55)						(57)						(69)						(84)
Credit card						(69)						(72)						(74)						(76)						(78)
Education						(5)						(3)						(3)						(4)						(6)
Other consumer						(37)						(42)						(35)						(35)						(40)
Total gross charge-offs						(243)						(327)						(247)						(314)						(304)
Recoveries:
Commercial and industrial						14						23						21						13						18
Commercial real estate						1						3						2												4
Equipment lease financing						3						3						3						2						2
Home equity						17						17						15						15						14
Residential real estate						5						4						4						4						4
Automobile						38						33						31						29						35
Credit card						12						9						9						9						8
Education						2						2						2						2						2
Other consumer						5						4						5						4						5
Total recoveries						97						98						92						78						92
Net (charge-offs) / recoveries:
Commercial and industrial						(45)						(110)						(38)						(99)						(60)
Commercial real estate						(4)						2						1												4
Equipment lease financing						(2)						(1)						(1)						(8)						(3)
Home equity						10						6						3						7						3
Residential real estate						1						(2)						2						4						2
Automobile						(14)						(22)						(26)						(40)						(49)
Credit card						(57)						(63)						(65)						(67)						(70)
Education						(3)						(1)						(1)						(2)						(4)
Other consumer						(32)						(38)						(30)						(31)						(35)
Total net (charge-offs)						(146)						(229)						(155)						(236)						(212)
Provision for (recapture of) credit losses (b)						(502)						(164)						(23)						2,220						952
Other						1						3						1												(1)
Ending balance						$	4,714					$	5,361					$	5,751					$	5,928					$	3,944
Supplemental Information
Net charge-offs
Commercial net charge-offs						$	(51)					$	(109)					$	(38)					$	(107)					$	(59)
Consumer net charge-offs						(95)						(120)						(117)						(129)						(153)
Total net charge-offs						$	(146)					$	(229)					$	(155)					$	(236)					$	(212)
Net charge-offs to average loans (annualized)						0.25		%				0.37		%				0.24		%				0.35		%				0.35		%
Commercial						0.13		%				0.25		%				0.09		%				0.23		%				0.14		%
Consumer						0.53		%				0.63		%				0.60		%				0.66		%				0.77		%

(a)    Represents the impact of adopting ASU 2016-13, Financial Instruments - Credit Losses on January 1, 2020, and our transition from an incurred loss methodology for our reserves to an expected credit loss methodology. Our 2020 Form 10-K included additional information related to our adoption of the CECL standard.

(b)    See Table 8 for the components of the Provision for (recapture of) credit losses being reported on the Consolidated Income Statement.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 8

Allowance for Credit Losses (Unaudited) (Continued)

Table 8: Components of the Provision for (Recapture of) Credit Losses

						Three months ended
						March 31						December 31						September 30						June 30						March 31
In millions						2021						2020						2020						2020						2020
Provision for (recapture of) credit losses
Loans and leases						$	(502)					$	(164)					$	(23)					$	2,220					$	952
Unfunded lending related commitments						(77)						(105)						27						212						(47)
Investment securities						26						11						39						30
Other financial assets						2						4						9						1						9
Total provision for (recapture of) credit losses						$	(551)					$	(254)					$	52					$	2,463					$	914

Table 9: Allowance for Credit Losses by Loan Class (a)

			March 31, 2021															December 31, 2020
Dollars in millions			Allowance Amount						Total Loans			% of Total Loans						Allowance Amount						Total Loans			% of Total Loans
Allowance for loan and lease losses
Commercial
Commercial and industrial			$	1,815					$	129,798		1.40		%				$	2,300					$	132,073		1.74		%
Commercial real estate			1,126						28,319			3.98		%				880						28,716			3.06		%
Equipment lease financing			142						6,389			2.22		%				157						6,414			2.45		%
Total commercial			3,083						164,506			1.87		%				3,337						167,203			2.00		%
Consumer
Home equity			239						23,493			1.02		%				313						24,088			1.30		%
Residential real estate			(17)						22,418			(0.08)		%				28						22,560			0.12		%
Automobile			344						13,584			2.53		%				379						14,218			2.67		%
Credit card			693						5,675			12.21		%				816						6,215			13.13		%
Education			112						2,842			3.94		%				129						2,946			4.38		%
Other consumer			260						4,495			5.78		%				359						4,698			7.64		%
Total consumer			1,631						72,507			2.25		%				2,024						74,725			2.71		%
Total			4,714						$	237,013		1.99		%				5,361						$	241,928		2.22		%
Allowance for unfunded lending related commitments			507															584
Allowance for credit losses			$	5,221														$	5,945
Supplemental Information
Allowance for credit losses to total loans												2.20		%													2.46		%
Commercial												2.12		%													2.29		%
Consumer												2.39		%													2.84		%

(a)    Excludes allowances for investment securities and other financial assets, which together totaled $136 million and $109 million at March 31, 2021 and December 31, 2020,

    respectively.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 9

Details of Nonperforming Assets (Unaudited)

Table 10: Nonperforming Assets by Type

						March 31						December 31						September 30						June 30						March 31
Dollars in millions						2021						2020						2020						2020						2020
Nonperforming loans, including TDRs
Commercial
Commercial and industrial
Retail/wholesale trade						$	66					$	61					$	90					$	117					$	121
Manufacturing						55						81						80						58						79
Service providers						79						90						69						57						63
Real estate related (a)						48						95						140						158						25
Health care						19						20						20						19						14
Transportation and warehousing						18						20						14						20						23
Other industries						227						299						264						264						169
Total commercial and industrial						512						666						677						693						494
Commercial real estate						221						224						217						43						42
Equipment lease financing						16						33						21						22						30
Total commercial						749						923						915						758						566
Consumer (b)
Home equity						656						645						639						636						617
Residential real estate						541						528						339						305						292
Automobile						178						175						171						156						154
Credit card						7						8						13						15						10
Other consumer						7						7						8						6						5
Total consumer						1,389						1,363						1,170						1,118						1,078
Total nonperforming loans (c)						2,138						2,286						2,085						1,876						1,644
OREO and foreclosed assets						41						51						67						79						111
Total nonperforming assets						$	2,179					$	2,337					$	2,152					$	1,955					$	1,755
Nonperforming loans to total loans						0.90		%				0.94		%				0.84		%				0.73		%				0.62		%
Nonperforming assets to total loans, OREO and foreclosed assets						0.92		%				0.97		%				0.86		%				0.76		%				0.66		%
Nonperforming assets to total assets						0.46		%				0.50		%				0.47		%				0.43		%				0.39		%
Allowance for loan and lease losses to nonperforming loans						220		%				235		%				276		%				316		%				240		%

(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.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 10

Details of Nonperforming Assets (Unaudited) (Continued)

Table 11: Change in Nonperforming Assets

						January 1, 2021 -						October 1, 2020 -						July 1, 2020 -						April 1, 2020 -						January 1, 2020 -
In millions						March 31, 2021						December 31, 2020						September 30, 2020						June 30, 2020						March 31, 2020
Beginning balance						$	2,337					$	2,152					$	1,955					$	1,755					$	1,752
New nonperforming assets						249						586						512						458						391
Charge-offs and valuation adjustments						(70)						(97)						(75)						(104)						(145)
Principal activity, including paydowns and payoffs						(186)						(185)						(175)						(85)						(158)
Asset sales and transfers to loans held for sale						(86)						(14)						(20)						(28)						(20)
Returned to performing status						(65)						(105)						(45)						(41)						(65)
Ending balance						$	2,179					$	2,337					$	2,152					$	1,955					$	1,755

Table 12: Largest Individual Nonperforming Assets (a)

March 31, 2021 - Dollars in millions
Ranking						Outstandings						Industry
1						$	141					Real Estate and Rental and Leasing
2						38						Wholesale Trade
3						31						Real Estate and Rental and Leasing
4						29						Real Estate and Rental and Leasing
5						28						Real Estate and Rental and Leasing
6						24						Mining, Quarrying, and Oil and Gas Extraction
7						24						Mining, Quarrying, and Oil and Gas Extraction
8						22						Mining, Quarrying, and Oil and Gas Extraction
9						22						Information
10						20						Mining, Quarrying, and Oil and Gas Extraction
Total						$	379
As a percent of total nonperforming assets												17%

(a)    Amounts shown are not net of related allowance for loan and lease losses, if applicable.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 11

Accruing Loans Past Due (Unaudited)                  

Pursuant to the interagency guidance issued in April 2020 and in connection with the credit reporting rules from the U.S. Coronavirus Aid, Relief and Economic Security Act (CARES Act), the delinquency status of loans modified due to COVID-19 related hardships are reported as of March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020 in alignment with the rules set forth for banks to report delinquency status to the credit agencies. These rules require that COVID-19 related loan modifications be reported as follows:

•if current at the time of modification, the loan remains current throughout the modification period,

•if delinquent at the time of modification and the borrower was not made current as part of the modification, the loan maintains its reported as delinquent status during the modification period, or

•if delinquent at the time of modification and the borrower was made current as part of the modification or became current during the modification period, the loan is reported as current.

As a result, certain loans modified due to COVID-19 related hardships are not being reported as past due as of March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020 based on the contractual terms of the loan, even where borrowers may not be making payments on their loans during the modification period. Our 2020 Form 10-K included, and our first quarter 2021 Form 10-Q will include, additional information on COVID-19 related loan modifications.

Table 13: Accruing Loans Past Due 30 to 59 Days (a)

						Amount																														Percent of Total Outstandings
						Mar. 31						Dec. 31						Sept. 30						Jun. 30						Mar. 31						Mar. 31						Dec. 31						Sept. 30						Jun. 30						Mar. 31
Dollars in millions						2021						2020						2020						2020						2020						2021						2020						2020						2020						2020
Commercial and industrial						$	80					$	106					$	56					$	49					$	97					0.06		%				0.08		%				0.04		%				0.03		%				0.07		%
Commercial real estate						12						6						6						51						6						0.04		%				0.02		%				0.02		%				0.18		%				0.02		%
Equipment lease financing						21						31						7						8						42						0.33		%				0.48		%				0.11		%				0.11		%				0.59		%
Home equity						43						50						48						70						65						0.18		%				0.21		%				0.20		%				0.28		%				0.26		%
Residential real estate
Non government insured						61						89						99						135						121						0.27		%				0.39		%				0.43		%				0.60		%				0.54		%
Government insured						101						92						89						63						52						0.45		%				0.41		%				0.39		%				0.28		%				0.23		%
Automobile						76						134						116						105						177						0.56		%				0.94		%				0.77		%				0.65		%				1.03		%
Credit card						31						43						44						53						59						0.55		%				0.69		%				0.70		%				0.81		%				0.83		%
Education
Non government insured						6						5						6						3						7						0.21		%				0.17		%				0.20		%				0.10		%				0.22		%
Government insured						43						50						51						36						45						1.51		%				1.70		%				1.67		%				1.15		%				1.39		%
Other consumer						11						14						17						17						17						0.24		%				0.30		%				0.35		%				0.35		%				0.34		%
Total						$	485					$	620					$	539					$	590					$	688					0.20		%				0.26		%				0.22		%				0.23		%				0.26		%

Table 14: Accruing Loans Past Due 60 to 89 Days (a)

						Amount																														Percent of Total Outstandings
						Mar. 31						Dec. 31						Sept. 30						Jun. 30						Mar. 31						Mar. 31						Dec. 31						Sept. 30						Jun. 30						Mar. 31
Dollars in millions						2021						2020						2020						2020						2020						2021						2020						2020						2020						2020
Commercial and industrial						$	13					$	26					$	37					$	28					$	22					0.01		%				0.02		%				0.03		%				0.02		%				0.01		%
Commercial real estate						1						1						6						4						1						0.00		%				0.00		%				0.02		%				0.01		%				0.00		%
Equipment lease financing						1						5						4						9						2						0.02		%				0.08		%				0.06		%				0.13		%				0.03		%
Home equity						20						21						22						27						28						0.09		%				0.09		%				0.09		%				0.11		%				0.11		%
Residential real estate
Non government insured						13						16						22						34						30						0.06		%				0.07		%				0.10		%				0.15		%				0.13		%
Government insured						60						62						58						59						52						0.27		%				0.27		%				0.25		%				0.26		%				0.23		%
Automobile						19						34						32						34						49						0.14		%				0.24		%				0.21		%				0.21		%				0.28		%
Credit card						24						30						33						38						37						0.42		%				0.48		%				0.52		%				0.58		%				0.52		%
Education
Non government insured						3						2						2						2						4						0.11		%				0.07		%				0.07		%				0.06		%				0.12		%
Government insured						22						27						24						21						26						0.77		%				0.92		%				0.79		%				0.67		%				0.80		%
Other consumer						6						10						11						8						10						0.13		%				0.21		%				0.23		%				0.17		%				0.20		%
Total						$	182					$	234					$	251					$	264					$	261					0.08		%				0.10		%				0.10		%				0.10		%				0.10		%

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 12

Accruing Loans Past Due (Unaudited) (Continued)

Table 15: Accruing Loans Past Due 90 Days or More (a)

						Amount																														Percent of Total Outstandings
						Mar. 31						Dec. 31						Sept. 30						Jun. 30						Mar. 31						Mar. 31						Dec. 31						Sept. 30						Jun. 30						Mar. 31
Dollars in millions						2021						2020						2020						2020						2020						2021						2020						2020						2020						2020
Commercial and industrial						$	63					$	30					$	36					$	34					$	51					0.05		%				0.02		%				0.03		%				0.02		%				0.03		%
Residential real estate
Non government insured						17						27						28						19						18						0.08		%				0.12		%				0.12		%				0.08		%				0.08		%
Government insured						258						292						241						245						282						1.15		%				1.29		%				1.05		%				1.09		%				1.27		%
Automobile						6						12						12						19						19						0.04		%				0.08		%				0.08		%				0.12		%				0.11		%
Credit card						52						60						60						61						70						0.92		%				0.97		%				0.95		%				0.93		%				0.98		%
Education
Non government insured						2						2						1						1						2						0.07		%				0.07		%				0.03		%				0.03		%				0.06		%
Government insured						74						75						62						65						82						2.60		%				2.55		%				2.03		%				2.08		%				2.53		%
Other consumer						7						11						8						12						10						0.16		%				0.23		%				0.17		%				0.25		%				0.20		%
Total						$	479					$	509					$	448					$	456					$	534					0.20		%				0.21		%				0.18		%				0.18		%				0.20		%

(a) Excludes loans held for sale.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 13

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. Our customers are serviced through our branch network, ATMs, call centers, online banking and mobile channels. The branch network is located primarily in markets across the Mid-Atlantic, Midwest and Southeast. In 2018, Retail Banking launched its national expansion strategy designed to grow customers with digitally-led banking and a thin branch network in markets outside of our existing retail branch network. Deposit products include checking, savings and money market accounts and certificates of deposit. 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, and capital markets-related 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 payables, receivables, deposit and account services, liquidity and investments, and online and mobile banking products and services to our clients. Capital markets-related products and services include foreign exchange, derivatives, securities underwriting, loan syndications, mergers and acquisitions advisory and equity capital markets advisory related services. 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 personal wealth management for high net worth and ultra high net worth clients and institutional asset management. The Asset Management group is comprised of three distinct operating units:

•Wealth management provides products and services to individuals and their families including investment and retirement planning, customized investment management, private banking, and trust management and administration for individuals and their families.

•Our Hawthorn unit provides multi-generational family planning including estate, financial, tax planning, fiduciary, investment management and consulting, private banking, personal administrative services, asset custody and customized performance reporting to ultra high net worth clients.

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

Table 16: Period End Employees

			March 31						December 31						September 30						June 30						March 31
			2021						2020						2020						2020						2020
Full-time employees
Retail Banking			27,690						27,621						27,808						29,051						28,737
Other full-time employees			22,281						21,928						21,997						21,752						21,776
Total full-time employees			49,971						49,549						49,805						50,803						50,513
Part-time employees
Retail Banking			1,697						1,611						1,593						1,854						1,780
Other part-time employees			101						97						104						476						129
Total part-time employees			1,798						1,708						1,697						2,330						1,909
Total			51,769						51,257						51,502						53,133						52,422

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 14

Table 17: 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			2021						2020						2020						2020						2020
Income
Retail Banking			$	607					$	336					$	530					$	(223)					$	201
Corporate & Institutional Banking			1,058						992						670						(358)						370
Asset Management Group			99						82						91						28						54
Other			52						32						228						(198)						127
Net income (loss) from continuing operations excluding noncontrolling interest			$	1,816					$	1,442					$	1,519					$	(751)					$	752
Revenue
Retail Banking			$	2,016					$	1,853					$	2,056					$	1,975					$	2,244
Corporate & Institutional Banking			1,808						1,913						1,748						1,790						1,660
Asset Management Group			322						316						310						293						292
Other			74						126						167						18						140
Total revenue			$	4,220					$	4,208					$	4,281					$	4,076					$	4,336

(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.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 15

Table 18: Retail Banking (Unaudited) (a)

			Three months ended
			March 31						December 31						September 30						June 30						March 31
Dollars in millions			2021						2020						2020						2020						2020
Income Statement
Net interest income			$	1,362					$	1,380					$	1,383					$	1,390					$	1,456
Noninterest income			654						473						673						585						788
Total revenue			2,016						1,853						2,056						1,975						2,244
Provision for (recapture of) credit losses			(257)						(81)						(157)						761						445
Noninterest expense			1,476						1,482						1,512						1,497						1,528
Pretax earnings (loss)			797						452						701						(283)						271
Income taxes (benefit)			183						105						162						(63)						62
Noncontrolling interest			7						11						9						3						8
Earnings (loss)			$	607					$	336					$	530					$	(223)					$	201
Average Balance Sheet
Loans held for sale			$	891					$	672					$	700					$	829					$	779
Loans
Consumer
Home equity			$	21,833					$	22,366					$	22,647					$	22,790					$	22,736
Residential real estate			17,468						18,042						18,435						18,244						17,964
Automobile			13,890						14,536						15,573						16,688						17,096
Credit card			5,819						6,218						6,408						6,690						7,207
Education			2,938						3,027						3,119						3,218						3,343
Other consumer			1,898						2,086						2,262						2,454						2,533
Total consumer			63,846						66,275						68,444						70,084						70,879
Commercial			13,743						13,391						13,356						13,612						10,524
Total loans			$	77,589					$	79,666					$	81,800					$	83,696					$	81,403
Total assets			$	92,891					$	94,303					$	98,731					$	102,103					$	97,062
Deposits
Noninterest-bearing demand			$	44,845					$	43,818					$	43,752					$	39,134					$	32,225
Interest-bearing demand			54,269						50,702						49,274						47,339						42,865
Money market			24,198						24,112						23,816						22,942						22,866
Savings			75,180						72,041						70,236						67,947						62,781
Certificates of deposit			9,742						10,156						10,852						11,661						12,233
Total deposits			$	208,234					$	200,829					$	197,930					$	189,023					$	172,970
Performance Ratios
Return on average assets			2.65		%				1.41		%				2.13		%				(0.88)		%				0.84		%
Noninterest income to total revenue			32		%				26		%				33		%				30		%				35		%
Efficiency			73		%				80		%				74		%				76		%				68		%

(a)See note (a) on page 14.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 16

Retail Banking (Unaudited) (Continued)

			Three months ended
			March 31						December 31						September 30						June 30						March 31
Dollars in millions, except as noted			2021						2020						2020						2020						2020
Supplemental Noninterest Income Information
Consumer services			$	368					$	369					$	371					$	315					$	372
Residential mortgage			$	105					$	99					$	137					$	158					$	210
Service charges on deposits			$	119					$	133					$	118					$	80					$	166
Residential Mortgage Information
Residential mortgage servicing statistics (in billions, except as noted) (a)
Serviced portfolio balance (b)			$	117					$	121					$	119					$	122					$	118
Serviced portfolio acquisitions			$	7					$	12					$	8					$	11					$	2
MSR asset value (b)			$	1.0					$	0.7					$	0.6					$	0.6					$	0.6
MSR capitalization value (in basis points) (b)			83						56						50						47						51
Servicing income: (in millions)
Servicing fees, net (c)			$	5					$	13					$	25					$	36					$	44
Mortgage servicing rights valuation, net of economic hedge			$	14					$	(1)					$	17					$	20					$	101
Residential mortgage loan statistics
Loan origination volume (in billions)			$	4.3					$	3.7					$	4.0					$	4.2					$	3.2
Loan sale margin percentage			3.28		%				3.75		%				3.62		%				3.67		%				3.16		%
Percentage of originations represented by:
Purchase volume (d)			34		%				45		%				44		%				34		%				36		%
Refinance volume			66		%				55		%				56		%				66		%				64		%
Other Information (b)
Customer-related statistics (average)
Non-teller deposit transactions (e)			66		%				66		%				67		%				65		%				59		%
Digital consumer customers (f)			79		%				77		%				75		%				73		%				71		%
Credit-related statistics
Nonperforming assets			$	1,229					$	1,211					$	1,077					$	1,037					$	1,011
Net charge-offs - loans and leases			$	108					$	136					$	125					$	142					$	166
Other statistics
ATMs			8,874						8,900						9,058						9,058						9,048
Branches (g)			2,137						2,162						2,207						2,256						2,277
Brokerage account client assets (in billions) (h)			$	61					$	59					$	55					$	53					$	49

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

(b)Presented as of period end, except for average customer-related statistics and net charge-offs, which are both shown for the three months ended.

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

(d)Mortgages with borrowers as part of residential real estate purchase transactions.

(e)Percentage of total consumer and business banking deposit transactions processed at an ATM or through our mobile banking application.

(f)Represents consumer checking relationships that process the majority of their transactions through non-teller channels.

(g)Excludes stand-alone mortgage offices and satellite offices (e.g., drive-ups, electronic branches and retirement centers) that provide limited products and/or services.

(h)Includes cash and money market balances.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 17

Table 19: Corporate & Institutional Banking (Unaudited) (a)

			Three months ended
			March 31						December 31						September 30						June 30						March 31
Dollars in millions			2021						2020						2020						2020						2020
Income Statement
Net interest income			$	1,001					$	994					$	1,025					$	1,064					$	966
Noninterest income			807						919						723						726						694
Total revenue			1,808						1,913						1,748						1,790						1,660
Provision for (recapture of) credit losses			(282)						(166)						211						1,585						458
Noninterest expense			711						801						663						670						722
Pretax earnings (loss)			1,379						1,278						874						(465)						480
Income taxes (benefit)			318						282						201						(110)						110
Noncontrolling interest			3						4						3						3
Earnings (loss)			$	1,058					$	992					$	670					$	(358)					$	370
Average Balance Sheet
Loans held for sale			$	691					$	1,039					$	904					$	704					$	395
Loans
Commercial
Commercial and industrial			$	114,944					$	120,297					$	125,187					$	138,992					$	117,288
Commercial real estate			27,182						27,509						27,511						27,106						26,589
Equipment lease financing			6,332						6,381						6,772						7,036						7,066
Total commercial			148,458						154,187						159,470						173,134						150,943
Consumer			9						10						11						8						9
Total loans			$	148,467					$	154,197					$	159,481					$	173,142					$	150,952
Total assets			$	170,531					$	177,792					$	183,266					$	199,254					$	172,502
Deposits
Noninterest-bearing demand			$	66,666					$	64,334					$	56,433					$	53,157					$	40,651
Interest-bearing demand			28,118						28,793						29,730						27,674						21,101
Money market			33,182						36,705						38,015						36,595						28,468
Other			8,368						8,928						8,956						9,546						7,868
Total deposits			$	136,334					$	138,760					$	133,134					$	126,972					$	98,088
Performance Ratios
Return on average assets			2.52		%				2.21		%				1.45		%				(0.72)		%				0.87		%
Noninterest income to total revenue			45		%				48		%				41		%				41		%				42		%
Efficiency			39		%				42		%				38		%				37		%				43		%
Other Information
Consolidated revenue from:
Treasury Management (b)			$	494					$	472					$	452					$	469					$	491
Capital Markets (b)			$	403					$	530					$	345					$	388					$	344
Commercial mortgage banking activities
Commercial mortgage loans held for sale (c)			$	30					$	45					$	46					$	42					$	29
Commercial mortgage loan servicing income (d)			90						82						76						67						69
Commercial mortgage servicing rights valuation, net of economic hedge (e)			17						14						16						22						20
Total			$	137					$	141					$	138					$	131					$	118
MSR asset value (f)			$	702					$	569					$	515					$	490					$	477
Average loans by C&IB business
Corporate Banking			$	74,459					$	76,664					$	81,617					$	91,634					$	78,057
Real Estate			38,395						41,427						40,592						42,124						37,368
Business Credit			21,552						21,337						21,845						23,943						23,251
Commercial Banking			10,807						11,375						11,770						10,708						7,784
Other			3,254						3,394						3,657						4,733						4,492
Total average loans			$	148,467					$	154,197					$	159,481					$	173,142					$	150,952
Credit-related statistics
Nonperforming assets (f)			$	658					$	827					$	832					$	674					$	508
Net charge-offs - loans and leases			$	44					$	99					$	32					$	99					$	50

(a)See note (a) on page 14.

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

(c)Represents other noninterest income for valuations on commercial mortgage loans held for sale and related commitments, derivative valuations, originations 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 (primarily in corporate service fees) from loan servicing net of reduction in commercial mortgage servicing rights due to amortization expense and payoffs. Commercial mortgage servicing rights valuation, net of economic hedge is shown separately.

(e)Amounts are reported in corporate service fees.

(f)Presented as of period end.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 18

Table 20: Asset Management Group (Unaudited) (a)

			Three months ended
			March 31						December 31						September 30						June 30						March 31
Dollars in millions, except as noted			2021						2020						2020						2020						2020
Income Statement
Net interest income			$	93					$	91					$	89					$	89					$	88
Noninterest income			229						225						221						204						204
Total revenue			322						316						310						293						292
Provision for (recapture of) credit losses			(9)						(2)						(19)						39						3
Noninterest expense			202						211						211						217						219
Pretax earnings			129						107						118						37						70
Income taxes			30						25						27						9						16
Earnings			$	99					$	82					$	91					$	28					$	54
Average Balance Sheet
Loans
Consumer
Residential real estate			$	3,635					$	3,326					$	2,976					$	2,636					$	2,385
Other consumer			4,008						4,077						4,065						3,975						4,052
Total consumer			7,643						7,403						7,041						6,611						6,437
Commercial			756						774						810						883						856
Total loans			$	8,399					$	8,177					$	7,851					$	7,494					$	7,293
Total assets			$	8,873					$	8,615					$	8,361					$	7,958					$	7,801
Deposits
Noninterest-bearing demand			$	1,754					$	1,689					$	1,692					$	1,421					$	1,468
Interest-bearing demand			9,104						8,404						8,101						7,742						6,850
Money market			1,520						1,606						1,542						1,597						1,709
Savings			7,747						7,388						7,243						7,398						7,197
Other			454						482						554						722						847
Total deposits			$	20,579					$	19,569					$	19,132					$	18,880					$	18,071
Performance Ratios
Return on average assets			4.52		%				3.78		%				4.32		%				1.41		%				2.81		%
Noninterest income to total revenue			71		%				71		%				71		%				70		%				70		%
Efficiency			63		%				67		%				68		%				74		%				75		%
Other Information
Nonperforming assets (b)			$	68					$	66					$	39					$	38					$	34
Net charge-offs (recoveries) - loans and leases									$	1					$	1											$	(1)
Client Assets Under Administration (in billions) (b) (c)
Discretionary client assets under management			$	173					$	170					$	158					$	151					$	136
Nondiscretionary client assets under administration			161						154						142						138						128
Total			$	334					$	324					$	300					$	289					$	264
Discretionary client assets under management
Personal			$	110					$	108					$	99					$	94					$	84
Institutional			63						62						59						57						52
Total			$	173					$	170					$	158					$	151					$	136

(a)See note (a) on page 14.

(b)As of period end.

(c)Excludes brokerage account client assets.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 19

Glossary of Terms

2019 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).

Adjusted average total assets - Primarily consisted of total average quarterly (or annual) assets plus/less unrealized losses (gains) on investment securities, less goodwill and certain other intangible assets (net of eligible deferred taxes).

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).

BBVA – BBVA USA Bancshares, Inc.

BBVA, S.A. – Banco Bilbao Vizcaya Argentaria, S.A.

BBVA USA – BBVA USA, the Alabama-chartered bank subsidiary of BBVA USA Bancshares, Inc.

BlackRock – BlackRock, Inc.

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.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 20

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; Consumer services; Corporate services; Residential mortgage; and Service charges on deposits.

FICO score - A credit bureau-based industry standard score created by Fair Isaac Co. which predicts the likelihood of borrower default. We use FICO scores both in underwriting and assessing credit risk in our consumer lending portfolio. Lower FICO scores indicate likely higher risk of default, while higher FICO scores indicate likely lower risk of default. FICO scores are updated on a periodic basis.

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

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

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

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, including TDRs which have not returned to performing status. Interest income is not recognized on nonperforming loans. Nonperforming loans exclude certain government insured or guaranteed loans for which we expect to collect substantially all principal and interest, loans held for sale and loans accounted for under the fair value option.

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

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

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

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.

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. To provide more meaningful comparisons of yields and margins for all interest-earning assets, we use interest income on a taxable-equivalent basis in calculating average yields and net interest margins by increasing the interest income earned on tax-exempt assets to make it fully equivalent to

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 21

interest income earned on other taxable investments. This adjustment is not permitted under GAAP on the Consolidated Income Statement.

Troubled debt restructuring (TDR) - A loan whose terms have been restructured in a manner that grants a concession to a borrower experiencing financial difficulties.

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.

Yield curve - A graph showing the relationship between the yields on financial instruments or market indices of the same credit quality with different maturities. For example, a “normal” or “positive” yield curve exists when long-term bonds have higher yields than short-term bonds. A “flat” yield curve exists when yields are the same for short-term and long-term bonds. A “steep” yield curve exists when yields on long-term bonds are significantly higher than on short-term bonds. An “inverted” or “negative” yield curve exists when short-term bonds have higher yields than long-term bonds.