Exhibit 99.1

THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2021

(Unaudited)

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THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

SECOND 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
Glossary of Terms			13-15

The information contained in this Financial Supplement is preliminary, unaudited and based on data available on July 14, 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, Southeast and Southwest. PNC also has strategic international offices in four countries outside the U.S.

PNC has three reportable business segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group. Business segment results and a description of each business will be included in PNC's second quarter 2021 Form 10-Q.

ACQUISITION OF BBVA USA BANCSHARES, INC.

On June 1, 2021, PNC acquired BBVA USA Bancshares Inc. (BBVA), a U.S. financial holding company conducting its business operations primarily through its U.S. banking subsidiary, BBVA USA. BBVA USA has more than 600 branches in Texas, Alabama, Arizona, California, Florida, Colorado and New Mexico. PNC paid $11.5 billion in cash as consideration for the acquisition, and added $82.2 billion of deposits and $60.5 billion of loans to PNC's Consolidated Balance Sheet as a result of the acquisition. PNC's second quarter earnings results reflect BBVA's acquired business operations for the month of June 2021 and PNC's balance sheet dated June 30, 2021 includes BBVA's balances. PNC's previously disclosed amounts do not include BBVA amounts. PNC's second quarter 2021 Form 10-Q will include additional information on this acquisition.

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.

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THE PNC FINANCIAL SERVICES GROUP, INC.
Cross Reference Index to Second 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			12
15			Accruing Loans Past Due 90 Days or More			12

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 1

Table 1: Consolidated Income Statement (Unaudited)

			Three months ended																																	Six months ended
			June 30						March 31						December 31						September 30						June 30									June 30						June 30
In millions, except per share data			2021						2021						2020						2020						2020									2021						2020
Interest Income
Loans			$	2,160					$	1,996					$	2,074					$	2,116					$	2,257								$	4,156					$	4,737
Investment securities			469						421						442						490						527									890						1,109
Other			72						66						60						70						71									138						209
Total interest income			2,701						2,483						2,576						2,676						2,855									5,184						6,055
Interest Expense
Deposits			30						40						53						74						141									70						516
Borrowed funds			90						95						99						118						187									185						501
Total interest expense			120						135						152						192						328									255						1,017
Net interest income			2,581						2,348						2,424						2,484						2,527									4,929						5,038
Noninterest Income
Asset management			239						226						221						215						199									465						400
Consumer services			457						384						387						390						330									841						707
Corporate services			688						555						650						479						512									1,243						1,038
Residential mortgage			103						105						99						137						158									208						368
Service charges on deposits			131						119						134						119						79									250						247
Other (a)			468						483						293						457						271									951						614
Total noninterest income			2,086						1,872						1,784						1,797						1,549									3,958						3,374
Total revenue			4,667						4,220						4,208						4,281						4,076									8,887						8,412
Provision For (Recapture of) Credit Losses			302						(551)						(254)						52						2,463									(249)						3,377
Noninterest Expense
Personnel			1,640						1,477						1,521						1,410						1,373									3,117						2,742
Occupancy			217						215						215						205						199									432						406
Equipment			326						293						296						292						301									619						588
Marketing			74						45						64						67						47									119						105
Other			793						544						612						557						595									1,337						1,217
Total noninterest expense			3,050						2,574						2,708						2,531						2,515									5,624						5,058
Income (loss) from continuing operations before income taxes and noncontrolling interests			1,315						2,197						1,754						1,698						(902)									3,512						(23)
Income taxes (benefit) from continuing operations			212						371						298						166						(158)									583						(38)
Net income (loss) from continuing operations			1,103						1,826						1,456						1,532						(744)									2,929						15
Income from discontinued operations before taxes																											5,596															5,777
Income taxes from discontinued operations																											1,197															1,222
Net income from discontinued operations																											4,399															4,555
Net income			1,103						1,826						1,456						1,532						3,655									2,929						4,570
Less: Net income attributable to noncontrolling interests			12						10						14						13						7									22						14
Preferred stock dividends (b)			48						57						48						63						55									105						118
Preferred stock discount accretion and     redemptions			1						1						1						1						1									2						2
Net income attributable to common shareholders			$	1,042					$	1,758					$	1,393					$	1,455					$	3,592								$	2,800					$	4,436
Earnings Per Common Share
Basic earnings (loss) from continuing operations			$	2.43					$	4.11					$	3.26					$	3.40					$	(1.90)								$	6.54					$	(0.29)
Basic earnings from discontinued operations																											10.28															10.60
Total basic earnings			$	2.43					$	4.11					$	3.26					$	3.40					$	8.40								$	6.54					$	10.33
Diluted earnings (loss) from continuing operations			$	2.43					$	4.10					$	3.26					$	3.39					$	(1.90)								$	6.53					$	(0.29)
Diluted earnings from discontinued operations																											10.28															10.59
Total diluted earnings			$	2.43					$	4.10					$	3.26					$	3.39					$	8.40								$	6.53					$	10.32
Average Common Shares Outstanding
Basic			427						426						425						426						426									426						428
Diluted			427						426						426						426						426									427						428
Efficiency			65		%				61		%				64		%				59		%				62		%							63		%				60		%
Noninterest income to total revenue			45		%				44		%				42		%				42		%				38		%							45		%				40		%
Effective tax rate from continuing operations (c)			16.1		%				16.9		%				17.0		%				9.8		%				17.5		%							16.6		%				165.2		%

(a)Includes net gains on sales of securities of $10 million, $25 million, $51 million, $32 million and $40 million for the quarters ended June 30, 2021, March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020, respectively. Amounts for the six months ended June 30, 2021 and June 30, 2020 were $35 million and $222 million, 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)

			June 30						March 31						December 31						September 30						June 30
In millions, except par value			2021						2021						2020						2020						2020
Assets
Cash and due from banks			$	8,724					$	7,455					$	7,017					$	6,629					$	6,338
Interest-earning deposits with banks (a)			72,447						86,161						85,173						70,959						50,233
Loans held for sale (b)			2,227						1,967						1,597						1,787						1,443
Investment securities – available for sale			125,058						96,799						87,358						89,747						97,052
Investment securities – held to maturity			1,485						1,456						1,441						1,438						1,441
Loans (b)			294,704						237,013						241,928						249,279						258,236
Allowance for loan and lease losses			(5,730)						(4,714)						(5,361)						(5,751)						(5,928)
Net loans			288,974						232,299						236,567						243,528						252,308
Equity investments			7,521						6,386						6,052						4,938						4,943
Mortgage servicing rights			1,793						1,680						1,242						1,113						1,067
Goodwill			10,958						9,317						9,233						9,233						9,233
Other (b)			35,025						30,894						30,999						32,445						34,920
Total assets			$	554,212					$	474,414					$	466,679					$	461,817					$	458,978
Liabilities
Deposits
Noninterest-bearing			$	154,190					$	120,641					$	112,637					$	107,281					$	99,458
Interest-bearing			298,693						254,426						252,708						247,798						246,539
Total deposits			452,883						375,067						365,345						355,079						345,997
Borrowed funds
Federal Home Loan Bank borrowings									1,500						3,500						5,500						8,500
Bank notes and senior debt			24,408						22,139						24,271						26,839						27,704
Subordinated debt			7,120						6,241						6,403						6,465						6,500
Other (b)			3,285						3,150						3,021						3,306						4,322
Total borrowed funds			34,813						33,030						37,195						42,110						47,026
Allowance for unfunded lending related commitments			645						507						584						689						662
Accrued expenses and other liabilities			11,186						11,931						9,514						10,629						12,345
Total liabilities			499,527						420,535						412,638						408,507						406,030
Equity
Preferred stock (c)
Common stock - $5 par value
Authorized 800 shares, issued 543, 543, 543, 542, and 542 shares			2,713						2,713						2,713						2,712						2,712
Capital surplus			15,928						15,879						15,884						15,836						16,284
Retained earnings			48,663						48,113						46,848						45,947						44,986
Accumulated other comprehensive income			1,463						1,290						2,770						2,997						3,069
Common stock held in treasury at cost:118, 118, 119, 118 and 117 shares			(14,140)						(14,146)						(14,205)						(14,216)						(14,128)
Total shareholders’ equity			54,627						53,849						54,010						53,276						52,923
Noncontrolling interests			58						30						31						34						25
Total equity			54,685						53,879						54,041						53,310						52,948
Total liabilities and equity			$	554,212					$	474,414					$	466,679					$	461,817					$	458,978

(a)Amounts include balances held with the Federal Reserve Bank of $71.9 billion, $85.8 billion, $84.9 billion, $70.6 billion and $50.0 billion as of June 30, 2021, March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020, respectively.

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

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

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 3

Table 3: Average Consolidated Balance Sheet (Unaudited) (a) (c)
			Three months ended																																	Six months ended
			June 30						March 31						December 31						September 30						June 30									June 30						June 30
In millions			2021						2021						2020						2020						2020									2021						2020
Assets
Interest-earning assets:
Investment securities
Securities available for sale
Residential mortgage-backed
Agency			$	56,042					$	45,298					$	48,036					$	52,215					$	52,500								$	50,700					$	51,068
Non-agency			1,142						1,236						1,337						1,437						1,529									1,189						1,573
Commercial mortgage-backed			6,465						6,241						6,568						6,927						7,232									6,354						6,983
Asset-backed			5,855						5,304						5,017						5,033						5,309									5,581						5,156
U.S. Treasury and government agencies			32,419						22,309						18,783						18,724						15,457									27,392						15,697
Other			5,107						4,561						4,561						4,723						4,952									4,835						4,488
Total securities available for sale			107,030						84,949						84,302						89,059						86,979									96,051						84,965
Securities held to maturity
Asset-backed																											22															37
U.S. Treasury and government agencies			802						797						793						788						783									800						781
Other			671						650						650						655						646									660						643
Total securities held to maturity			1,473						1,447						1,443						1,443						1,451									1,460						1,461
Total investment securities			108,503						86,396						85,745						90,502						88,430									97,511						86,426
Loans
Commercial and industrial			137,892						129,996						134,944						139,795						153,595									133,966						141,159
Commercial real estate			31,611						28,598						28,991						29,081						28,707									30,113						28,491
Equipment lease financing			6,332						6,332						6,380						6,771						7,035									6,332						7,051
Consumer			52,575						50,904						52,872						54,692						56,485									51,744						57,082
Residential real estate			27,197						22,305						22,638						22,753						22,292									24,764						22,060
Total loans			255,607						238,135						245,825						253,092						268,114									246,919						255,843
Interest-earning deposits with banks (b)			78,522						85,410						76,374						60,327						34,600									81,947						26,085
Other interest-earning assets			8,079						7,829						8,134						9,752						10,867									7,955						10,167
Total interest-earning assets			450,711						417,770						416,078						413,673						402,011									434,332						378,521
Noninterest-earning assets			53,718						50,450						48,901						48,466						55,302									52,093						56,353
Total assets			$	504,429					$	468,220					$	464,979					$	462,139					$	457,313								$	486,425					$	434,874
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing deposits
Money market			$	64,990					$	59,083					$	62,621					$	63,598					$	61,346								$	62,053					$	57,317
Demand			99,091						91,619						88,026						87,226						82,881									95,376						76,906
Savings			87,307						82,926						79,430						77,479						75,345									85,129						72,661
Time deposits			18,048						18,449						19,448						20,248						21,873									18,246						21,506
Total interest-bearing deposits			269,436						252,077						249,525						248,551						241,445									260,804						228,390
Borrowed funds
Federal Home Loan Bank borrowings			265						2,411						4,761						7,196						12,559									1,332						13,000
Bank notes and senior debt			22,620						22,799						24,022						25,858						28,298									22,709						29,143
Subordinated debt			6,218						5,929						5,936						5,936						5,937									6,074						5,935
Other			5,046						4,057						3,433						4,354						6,435									4,555						7,131
Total borrowed funds			34,149						35,196						38,152						43,344						53,229									34,670						55,209
Total interest-bearing liabilities			303,585						287,273						287,677						291,895						294,674									295,474						283,599
Noninterest-bearing liabilities and equity:
Noninterest-bearing deposits			132,283						113,299						109,878						101,931						93,776									122,843						84,086
Accrued expenses and other liabilities			14,755						14,258						14,348						15,341						16,989									14,508						16,712
Equity			53,806						53,390						53,076						52,972						51,874									53,600						50,477
Total liabilities and equity			$	504,429					$	468,220					$	464,979					$	462,139					$	457,313								$	486,425					$	434,874

(a)Calculated using average daily balances.

(b)Amounts include average balances held with the Federal Reserve Bank of Cleveland of $78.3 billion, $85.2 billion, $76.1 billion, $60.0 billion and $34.2 billion for the three months ended June 30, 2021, March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020, and $81.7 billion and $25.8 billion for the six months ended June 30, 2021 and June 30, 2020, respectively.

(c)Second quarter results reflect BBVA's acquired business operations for the month of June. Previously disclosed amounts do not include BBVA amounts.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 4

Table 4: Details of Net Interest Margin (Unaudited) (c)
			Three months ended																																	Six months ended
			June 30						March 31						December 31						September 30						June 30									June 30						June 30
			2021						2021						2020						2020						2020									2021						2020
Average yields/rates (a)
Yield on interest-earning assets
Investment securities
Securities available for sale
Residential mortgage-backed
Agency			1.61		%				1.72		%				1.81		%				2.03		%				2.29		%							1.66		%				2.45		%
Non-agency			7.85		%				7.24		%				7.15		%				7.26		%				7.13		%							7.54		%				7.51		%
Commercial mortgage-backed			2.49		%				2.58		%				2.66		%				2.50		%				2.59		%							2.54		%				2.76		%
Asset-backed			2.07		%				1.84		%				2.04		%				2.44		%				2.60		%							1.96		%				2.82		%
U.S. Treasury and government agencies			1.30		%				1.68		%				1.77		%				1.64		%				1.77		%							1.45		%				2.03		%
Other			3.00		%				3.28		%				3.45		%				3.39		%				3.47		%							3.13		%				3.57		%
Total securities available for sale			1.73		%				1.95		%				2.05		%				2.16		%				2.39		%							1.82		%				2.58		%
Securities held to maturity
Asset-backed																											2.38		%													2.65		%
U.S. Treasury and government agencies			2.86		%				2.83		%				2.88		%				2.86		%				2.84		%							2.85		%				2.84		%
Other			3.67		%				4.17		%				4.20		%				4.20		%				4.27		%							3.91		%				4.38		%
Total securities held to maturity			3.23		%				3.43		%				3.47		%				3.47		%				3.47		%							3.33		%				3.51		%
Total investment securities			1.75		%				1.97		%				2.08		%				2.18		%				2.41		%							1.85		%				2.59		%
Loans
Commercial and industrial			2.89		%				2.91		%				2.87		%				2.82		%				2.83		%							2.90		%				3.19		%
Commercial real estate			2.92		%				2.80		%				2.63		%				2.65		%				2.84		%							2.86		%				3.23		%
Equipment lease financing			3.76		%				3.90		%				3.90		%				3.80		%				3.82		%							3.83		%				3.88		%
Consumer			4.82		%				4.78		%				4.74		%				4.69		%				4.86		%							4.80		%				5.12		%
Residential real estate			3.50		%				3.53		%				3.69		%				3.74		%				3.86		%							3.51		%				3.91		%
Total loans			3.38		%				3.38		%				3.35		%				3.32		%				3.37		%							3.38		%				3.71		%
Interest-earning deposits with banks			0.11		%				0.10		%				0.10		%				0.10		%				0.10		%							0.10		%				0.50		%
Other interest-earning assets			2.46		%				2.34		%				1.99		%				2.23		%				2.26		%							2.40		%				2.84		%
Total yield on interest-earning assets			2.40		%				2.40		%				2.46		%				2.57		%				2.85		%							2.40		%				3.21		%
Rate on interest-bearing liabilities
Interest-bearing deposits
Money market			0.03		%				0.03		%				0.05		%				0.07		%				0.15		%							0.03		%				0.41		%
Demand			0.03		%				0.04		%				0.04		%				0.05		%				0.08		%							0.03		%				0.23		%
Savings			0.05		%				0.06		%				0.08		%				0.11		%				0.31		%							0.05		%				0.54		%
Time deposits			0.20		%				0.32		%				0.41		%				0.58		%				0.80		%							0.26		%				1.06		%
Total interest-bearing deposits			0.05		%				0.06		%				0.08		%				0.12		%				0.23		%							0.05		%				0.45		%
Borrowed funds
Federal Home Loan Bank borrowings			0.35		%				0.43		%				0.40		%				0.47		%				1.00		%							0.42		%				1.36		%
Bank notes and senior debt			0.98		%				1.04		%				1.00		%				1.08		%				1.56		%							1.01		%				2.00		%
Subordinated debt			1.35		%				1.43		%				1.38		%				1.51		%				1.91		%							1.39		%				2.32		%
Other			0.97		%				1.21		%				1.39		%				1.31		%				0.92		%							1.07		%				1.34		%
Total borrowed funds			1.04		%				1.09		%				1.02		%				1.06		%				1.39		%							1.06		%				1.80		%
Total rate on interest-bearing liabilities			0.16		%				0.19		%				0.21		%				0.26		%				0.44		%							0.17		%				0.71		%
Interest rate spread			2.24		%				2.21		%				2.25		%				2.31		%				2.41		%							2.23		%				2.50		%
Benefit from use of noninterest bearing sources (b)			0.05		%				0.06		%				0.07		%				0.08		%				0.11		%							0.05		%				0.17		%
Net interest margin			2.29		%				2.27		%				2.32		%				2.39		%				2.52		%							2.28		%				2.67		%

(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 June 30, 2021, March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020 were $15 million, $15 million, $17 million, $17 million and $19 million, respectively. The taxable-equivalent adjustments to net interest income for the six months ended June 30, 2021 and June 30, 2020 were $30 million and $41 million, respectively.

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

(c)Second quarter results reflect BBVA's acquired business operations for the month of June. Previously disclosed amounts do not include BBVA amounts.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 5

Table 5: Per Share Related Information (Unaudited)
			Three months ended																																	Six months ended
			June 30						March 31						December 31						September 30						June 30									June 30						June 30
In millions, except per share data			2021						2021						2020						2020						2020									2021						2020
Basic
Net income (loss) from continuing operations			$	1,103					$	1,826					$	1,456					$	1,532					$	(744)								$	2,929					$	15
Less:
Net income attributable to noncontrolling interests			12						10						14						13						7									22						14
Preferred stock dividends			48						57						48						63						55									105						118
Preferred stock discount accretion and redemptions			1						1						1						1						1									2						2
Net income (loss) from continuing operations    attributable to common shareholders			1,042						1,758						1,393						1,455						(807)									2,800						(119)
Less: Dividends and undistributed earnings allocated    to nonvested restricted shares			5						8						6						8						1									13						4
Net income (loss) from continuing operations    attributable to basic common shareholders			$	1,037					$	1,750					$	1,387					$	1,447					$	(808)								$	2,787					$	(123)
Net income from discontinued operations attributable    to common shareholders																											$	4,399														$	4,555
Less: Undistributed earnings allocated to nonvested     restricted shares																											21															22
Net income from discontinued operations attributable    to basic common shareholders																											$	4,378														$	4,533
Basic weighted-average common shares outstanding			427						426						425						426						426									426						428
Basic earnings (loss) per common share from    continuing operations (a)			$	2.43					$	4.11					$	3.26					$	3.40					$	(1.90)								$	6.54					$	(0.29)
Basic earnings per common share from discontinued    operations (a)																											$	10.28														$	10.60
Basic earnings per common share			$	2.43					$	4.11					$	3.26					$	3.40					$	8.40								$	6.54					$	10.33
Diluted
Net income (loss) from continuing operations    attributable to diluted common shareholder			$	1,037					$	1,750					$	1,387					$	1,447					$	(808)								$	2,787					$	(123)
Net income from discontinued operations attributable    to basic common shareholders																											$	4,378														$	4,533
Less: Impact of earnings per share dilution from    discontinued operations																											1															2
Net income from discontinued operations attributable    to diluted common shareholders																											$	4,377														$	4,531
Basic weighted-average common shares outstanding			427						426						425						426						426									426						428
Dilutive potential common shares															1																					1
Diluted weighted-average common shares outstanding			427						426						426						426						426									427						428
Diluted earnings (loss) per common share from    continuing operations (a)			$	2.43					$	4.10					$	3.26					$	3.39					$	(1.90)								$	6.53					$	(0.29)
Diluted earnings per common share from discontinued    operations (a)																											$	10.28														$	10.59
Diluted earnings per common share			$	2.43					$	4.10					$	3.26					$	3.39					$	8.40								$	6.53					$	10.32

(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)

						June 30						March 31						December 31						September 30						June 30
In millions						2021 (a)						2021						2020						2020						2020
Commercial
Commercial and industrial						$	155,300					$	129,798					$	132,073					$	137,187					$	144,335
Commercial real estate						37,964						28,319						28,716						29,028						28,763
Equipment lease financing						6,376						6,389						6,414						6,479						7,097
Total commercial						199,640						164,506						167,203						172,694						180,195
Consumer
Home equity						25,174						23,493						24,088						24,539						24,879
Residential real estate						36,846						22,418						22,560						22,886						22,469
Automobile						17,551						13,584						14,218						14,977						16,157
Credit card						6,528						5,675						6,215						6,303						6,575
Education						2,726						2,842						2,946						3,051						3,132
Other consumer						6,239						4,495						4,698						4,829						4,829
Total consumer						95,064						72,507						74,725						76,585						78,041
Total loans						$	294,704					$	237,013					$	241,928					$	249,279					$	258,236

(a)Includes $60.5 billion of loans at June 30, 2021, $38.5 billion in the commercial portfolio and $22.0 billion in the consumer portfolio, that were acquired as a part of the BBVA acquisition on June 1, 2021. Additional information on this acquired loan portfolio will be included in our second quarter 2021 Form 10-Q.

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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																																	Six months ended
						June 30						March 31						December 31						September 30						June 30									June 30						June 30
Dollars in millions						2021						2021						2020						2020						2020									2021						2020
Allowance for loan and lease losses
Beginning balance						$	4,714					$	5,361					$	5,751					$	5,928					$	3,944								$	5,361					$	2,742
Adoption of ASU 2016-03 (a)																																													463
Acquisition PCD reserves						1,115																																	1,115
Gross charge-offs:
Commercial and industrial						(40)						(59)						(133)						(59)						(112)									(99)						(190)
Commercial real estate												(5)						(1)						(1)															(5)
Equipment lease financing						(1)						(5)						(4)						(4)						(10)									(6)						(15)
Home equity						(7)						(7)						(11)						(12)						(8)									(14)						(19)
Residential real estate						(3)						(4)						(6)						(2)															(7)						(2)
Automobile						(31)						(52)						(55)						(57)						(69)									(83)						(153)
Credit card						(58)						(69)						(72)						(74)						(76)									(127)						(154)
Education						(3)						(5)						(3)						(3)						(4)									(8)						(10)
Other consumer						(31)						(37)						(42)						(35)						(35)									(68)						(75)
Acquired loan gross charge-offs (b)						(254)																																	(254)
Total gross charge-offs						(428)						(243)						(327)						(247)						(314)									(671)						(618)
Recoveries:
Commercial and industrial						28						14						23						21						13									42						31
Commercial real estate						2						1						3						2															3						4
Equipment lease financing						3						3						3						3						2									6						4
Home equity						21						17						17						15						15									38						29
Residential real estate						6						5						4						4						4									11						8
Automobile						39						38						33						31						29									77						64
Credit card						10						12						9						9						9									22						17
Education						2						2						2						2						2									4						4
Other consumer						5						5						4						5						4									10						9
Acquired loan recoveries						6																																	6
Total recoveries						122						97						98						92						78									219						170
Net (charge-offs) / recoveries:
Commercial and industrial						(12)						(45)						(110)						(38)						(99)									(57)						(159)
Commercial real estate						2						(4)						2						1															(2)						4
Equipment lease financing						2						(2)						(1)						(1)						(8)															(11)
Home equity						14						10						6						3						7									24						10
Residential real estate						3						1						(2)						2						4									4						6
Automobile						8						(14)						(22)						(26)						(40)									(6)						(89)
Credit card						(48)						(57)						(63)						(65)						(67)									(105)						(137)
Education						(1)						(3)						(1)						(1)						(2)									(4)						(6)
Other consumer						(26)						(32)						(38)						(30)						(31)									(58)						(66)
Acquired loan net (charge-offs)						(248)																																	(248)
Total net (charge-offs)						(306)						(146)						(229)						(155)						(236)									(452)						(448)
Provision for (recapture of) credit losses (c)						206						(502)						(164)						(23)						2,220									(296)						3,172
Other						1						1						3						1															2						(1)
Ending balance						$	5,730					$	4,714					$	5,361					$	5,751					$	5,928								$	5,730					$	5,928
Supplemental Information
Net charge-offs
Commercial net charge-offs						$	(240)					$	(51)					$	(109)					$	(38)					$	(107)								$	(291)					$	(166)
Consumer net charge-offs						(66)						(95)						(120)						(117)						(129)									(161)						(282)
Total net charge-offs						$	(306)					$	(146)					$	(229)					$	(155)					$	(236)								$	(452)					$	(448)
Net charge-offs to average loans (annualized)						0.48		%				0.25		%				0.37		%				0.24		%				0.35		%							0.37		%				0.35		%
Commercial						0.55		%				0.13		%				0.25		%				0.09		%				0.23		%							0.34		%				0.19		%
Consumer						0.33		%				0.53		%				0.63		%				0.60		%				0.66		%							0.42		%				0.72		%

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

(c)    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																																	Six months ended
						June 30						March 31						December 31						September 30						June 30									June 30						June 30
In millions						2021 (a)						2021						2020						2020						2020									2021 (a)						2020
Provision for (recapture of) credit losses
Loans and leases						$	206					$	(502)					$	(164)					$	(23)					$	2,220								$	(296)					$	3,172
Unfunded lending related commitments						92						(77)						(105)						27						212									15						165
Investment securities												26						11						39						30									26						30
Other financial assets						4						2						4						9						1									6						10
Total provision for (recapture of) credit losses						$	302					$	(551)					$	(254)					$	52					$	2,463								$	(249)					$	3,377

(a)     Amounts for the three and six months ended June 30, 2021 include $1.0 billion of provision for credit losses that was recorded as part of the BBVA acquisition on June 1, 2021.

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

			June 30, 2021															March 31, 2021															June 30, 2020
Dollars in millions			Allowance Amount						Total Loans			% of Total Loans						Allowance Amount						Total Loans			% of Total Loans						Allowance Amount						Total Loans			% of Total Loans
Allowance for loan and lease losses
Commercial
Commercial and industrial			$	2,282					$	155,300		1.47		%				$	1,815					$	129,798		1.40		%				$	2,834					$	144,335		1.96		%
Commercial real estate			1,404						37,964			3.70		%				1,126						28,319			3.98		%				382						28,763			1.33		%
Equipment lease financing			126						6,376			1.98		%				142						6,389			2.22		%				164						7,097			2.31		%
Total commercial			3,812						199,640			1.91		%				3,083						164,506			1.87		%				3,380						180,195			1.88		%
Consumer
Home equity			188						25,174			0.75		%				239						23,493			1.02		%				382						24,879			1.54		%
Residential real estate			63						36,846			0.17		%				(17)						22,418			(0.08)		%				50						22,469			0.22		%
Automobile			421						17,551			2.40		%				344						13,584			2.53		%				450						16,157			2.79		%
Credit card			711						6,528			10.89		%				693						5,675			12.21		%				1,010						6,575			15.36		%
Education			98						2,726			3.60		%				112						2,842			3.94		%				151						3,132			4.82		%
Other consumer			437						6,239			7.00		%				260						4,495			5.78		%				505						4,829			10.46		%
Total consumer			1,918						95,064			2.02		%				1,631						72,507			2.25		%				2,548						78,041			3.26		%
Total			5,730						$	294,704		1.94		%				4,714						$	237,013		1.99		%				5,928						$	258,236		2.30		%
Allowance for unfunded lending related commitments			645															507															662
Allowance for credit losses			$	6,375														$	5,221														$	6,590
Supplemental Information
Allowance for credit losses to total loans												2.16		%													2.20		%													2.55		%
Commercial												2.18		%													2.12		%													2.18		%
Consumer												2.14		%													2.39		%													3.41		%

(a)     Excludes allowances for investment securities and other financial assets, which together totaled $138 million, $136 million and $51 million at June 30, 2021, March 31, 2021 and June 30, 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

						June 30						March 31						December 31						September 30						June 30
Dollars in millions						2021						2021						2020						2020						2020
Nonperforming loans, including TDRs
Commercial
Commercial and industrial
Retail/wholesale trade						$	25					$	66					$	61					$	90					$	117
Manufacturing						37						55						81						80						58
Service providers						87						79						90						69						57
Real estate related (a)						41						48						95						140						158
Health care						17						19						20						20						19
Transportation and warehousing						15						18						20						14						20
Other industries						144						227						299						264						264
Total commercial and industrial						366						512						666						677						693
Commercial real estate						218						221						224						217						43
Equipment lease financing						15						16						33						21						22
Acquired loans (b)						847
Total commercial						1,446						749						923						915						758
Consumer (c)
Home equity						624						656						645						639						636
Residential real estate						502						541						528						339						305
Automobile						172						178						175						171						156
Credit card						5						7						8						13						15
Other consumer						6						7						7						8						6
Acquired loans (b)						24
Total consumer						1,333						1,389						1,363						1,170						1,118
Total nonperforming loans (d)						2,779						2,138						2,286						2,085						1,876
OREO and foreclosed assets						30						41						51						67						79
Acquired OREO and foreclosed assets (b)						9
Total nonperforming assets						$	2,818					$	2,179					$	2,337					$	2,152					$	1,955
Nonperforming loans to total loans						0.94		%				0.90		%				0.94		%				0.84		%				0.73		%
Acquired nonperforming loans to total acquired loans (b)						1.44		%
Nonperforming assets to total loans, OREO and foreclosed assets						0.96		%				0.92		%				0.97		%				0.86		%				0.76		%
Nonperforming assets to total assets						0.51		%				0.46		%				0.50		%				0.47		%				0.43		%
Allowance for loan and lease losses to nonperforming loans						206		%				220		%				235		%				276		%				316		%
Allowance for acquired loan and lease losses to acquired nonperforming loans (b)						193		%

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

(b)Reflects nonperforming assets acquired as a part of the BBVA acquisition on June 1, 2021. Additional information on this acquired portfolio will be included in our second quarter 2021 Form 10-Q.

(c)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.

(d)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

						April 1, 2021 -						January 1, 2021 -						October 1, 2020 -						July 1, 2020 -						April 1, 2020 -
In millions						June 30, 2021						March 31, 2021						December 31, 2020						September 30, 2020						June 30, 2020
Beginning balance						$	2,179					$	2,337					$	2,152					$	1,955					$	1,755
New nonperforming assets						207						249						586						512						458
Charge-offs and valuation adjustments						(61)						(70)						(97)						(75)						(104)
Principal activity, including paydowns and payoffs						(264)						(186)						(185)						(175)						(85)
Asset sales and transfers to loans held for sale						(15)						(86)						(14)						(20)						(28)
Returned to performing status						(108)						(65)						(105)						(45)						(41)
Acquired nonperforming assets (a)						880
Ending balance						$	2,818					$	2,179					$	2,337					$	2,152					$	1,955

(a)Represents nonperforming assets acquired as a part of the BBVA acquisition on June 1, 2021 and includes $871 million of loans and $9 million of OREO and foreclosed assets. See our second quarter 2021 Form 10-Q for additional information on this acquired portfolio.

Table 12: Largest Individual Nonperforming Assets (a)

June 30, 2021 - Dollars in millions
Ranking						Outstandings						Industry
1						$	141					Real Estate and Rental and Leasing
2						56						Real Estate and Rental and Leasing
3						49						Accommodation and Food Services
4						46						Professional, Scientific, and Technical Services
5						36						Accommodation and Food Services
6						35						Mining, Quarrying, and Oil and Gas Extraction
7						32						Health Care and Social Assistance
8						32						Arts, Entertainment, and Recreation
9						31						Real Estate and Rental and Leasing
10						30						Mining, Quarrying, and Oil and Gas Extraction
Total						$	488
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 for all periods presented 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 beca4me 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 for the periods presented based on the contractual terms of the loan, even where borrowers may not be making payments on their loans during the modification period. Our first quarter 2021 Form 10-Q included, and our second 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)

						Jun. 30						Mar. 31						Dec. 31						Sept. 30						Jun. 30
Dollars in millions						2021						2021						2020						2020						2020
Commercial
Commercial and industrial						$	46					$	80					$	106					$	56					$	49
Commercial real estate						1						12						6						6						51
Equipment lease financing						3						21						31						7						8
Acquired loans (b)						30
Total commercial						80						113						143						69						108
Consumer
Home equity						38						43						50						48						70
Residential real estate
Non government insured						77						61						89						99						135
Government insured						87						101						92						89						63
Automobile						70						76						134						116						105
Credit card						29						31						43						44						53
Education
Non government insured						5						6						5						6						3
Government insured						41						43						50						51						36
Other consumer						10						11						14						17						17
Acquired loans (b)						111
Total consumer						468						372						477						470						482
Total						$	548					$	485					$	620					$	539					$	590
Supplemental Information
Total accruing loans past due 30-59 days to total loans						0.19		%				0.20		%				0.26		%				0.22		%				0.23		%
Commercial						0.04		%				0.07		%				0.09		%				0.04		%				0.06		%
Consumer						0.49		%				0.51		%				0.64		%				0.61		%				0.62		%

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 12

Accruing Loans Past Due (Unaudited) (Continued)

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

						Jun. 30						Mar. 31						Dec. 31						Sept. 30						Jun. 30
Dollars in millions						2021						2021						2020						2020						2020
Commercial
Commercial and industrial						$	18					$	13					$	26					$	37					$	28
Commercial real estate						3						1						1						6						4
Equipment lease financing						3						1						5						4						9
Acquired loans (b)						10
Total commercial						34						15						32						47						41
Consumer
Home equity						15						20						21						22						27
Residential real estate
Non government insured						9						13						16						22						34
Government insured						51						60						62						58						59
Automobile						14						19						34						32						34
Credit card						19						24						30						33						38
Education
Non government insured						2						3						2						2						2
Government insured						20						22						27						24						21
Other consumer						5						6						10						11						8
Acquired loans (b)						46
Total consumer						181						167						202						204						223
Total						$	215					$	182					$	234					$	251					$	264
Supplemental Information
Total accruing loans past due 60-89 days to total loans						0.07					%	0.08		%				0.10		%				0.10		%				0.10		%
Commercial						0.02					%	0.01		%				0.02		%				0.03		%				0.02		%
Consumer						0.19					%	0.23		%				0.27		%				0.27		%				0.29		%

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

						Jun. 30						Mar. 31						Dec. 31						Sept. 30						Jun. 30
Dollars in millions						2021						2021						2020						2020						2020
Commercial
Commercial and industrial						$	40					$	63					$	30					$	36					$	34
Acquired loans (b)						7
Total commercial						47						63						30						36						34
Consumer
Residential real estate
Non government insured						20						17						27						28						19
Government insured						257						258						292						241						245
Automobile						3						6						12						12						19
Credit card						41						52						60						60						61
Education
Non government insured						1						2						2						1						1
Government insured						66						74						75						62						65
Other consumer						5						7						11						8						12
Acquired loans (b)						87
Total consumer						480						416						479						412						422
Total						$	527					$	479					$	509					$	448					$	456
Supplemental Information
Total accruing loans past due 90 days or more to total loans						0.18					%	0.20		%				0.21		%				0.18		%				0.18		%
Commercial						0.02					%	0.04		%				0.02		%				0.02		%				0.02		%
Consumer						0.50					%	0.57		%				0.64		%				0.54		%				0.54		%

(a)Excludes loans held for sale.

(b)Reflects loans acquired as part of the BBVA acquisition on June 1, 2021. Additional information on this acquired loan portfolio will be included in our second quarter 2021 Form 10-Q.

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THE PNC FINANCIAL SERVICES GROUP, INC.						Page 13

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 14

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 15

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.