The PNC Financial Services Group, Inc.
Fourth Quarter 2008
Earnings Conference Call
February 3, 2009
Exhibit 99.2

2
Cautionary Statement Regarding Forward-Looking
Information and Adjusted Information
This
presentation
includes
“snapshot”
information
about
PNC
used
by
way
of
illustration.
It
is
not
intended
as
a
full
business
or
financial
review
and
should
be
viewed
in
the
context
of
all
of
the
information
made
available
by
PNC
in
its
SEC
filings.
The
presentation
also
contains
forward-looking
statements
regarding
our
outlook
or
expectations
relating
to
PNC’s
future
business,
operations,
financial
condition,
financial
performance
and
asset
quality.
Forward-looking
statements
are
necessarily
subject
to
numerous
assumptions,
risks
and
uncertainties,
which
change
over
time.
The
forward-looking
statements
in
this
presentation
are
qualified
by
the
factors
affecting
forward-looking
statements
identified
in
the
more
detailed
Cautionary
Statement
included
in
the
Appendix,
which
is
included
in
the
version
of
the
presentation
materials
posted
on
our
corporate
website
at
www.pnc.com/investorevents.
We
provide
greater
detail
regarding
these
factors
in
our
2007
Form
10-K
and
our
2008
Form
10-Qs,
including
in
the
Risk
Factors
and
Risk
Management
sections,
and
in
our
other
SEC
filings
(accessible
on
the
SEC’s
website
at
www.sec.gov
and
on
or
through
our
corporate
website
at
www.pnc.com/secfilings).
We
have
included
these
web
addresses
as
inactive
textual
references
only.
Information
on
these
websites is not part of this document.
Future
events
or
circumstances
may
change
our
outlook
or
expectations
and
may
also
affect
the
nature
of
the
assumptions,
risks
and
uncertainties
to
which
our
forward-looking
statements
are
subject.
The
forward-looking
statements
in
this
presentation
speak
only
as
of
the
date
of
this
presentation.
We
do
not
assume
any
duty
and
do
not
undertake
to
update
those
statements.
In
this
presentation,
we
will
sometimes
refer
to
adjusted
results
to
help
illustrate
the
impact
of
certain
types
of
items.
This
information
supplements
our
results
as
reported
in
accordance
with
GAAP
and
should
not
be
viewed
in
isolation
from,
or
a
substitute
for,
our
GAAP
results.
We
provide
these
adjusted
amounts
and
reconciliations
so
that
investors,
analysts,
regulators
and
others
will
be
better
able
to
evaluate
the
impact
of
these
items
on
our
results
for
the
periods
presented.
We
believe
that
information
as
adjusted
for
the
impact
of
the
specified
items
may
be
useful
due
to
the
extent
to
which
these
items
are
not
indicative
of
our
ongoing
operations. 
In
certain
discussions,
we
may
also
provide
information
on
yields
and
margins
for
all
interest-earning
assets
calculated
using
net
interest
income
on
a
taxable-equivalent
basis
by
increasing
the
interest
income
earned
on
tax-exempt
assets
to
make
it
fully
equivalent
to
interest
income
earned
on
taxable
investments.
We
believe
this
adjustment
may
be
useful
when
comparing
yields
and
margins
for
all
earning
assets.
This
presentation
may
also
include
a
discussion
of
other
non-GAAP
financial
measures,
which,
to
the
extent
not
so
qualified
therein
or
in
the
Appendix,
is
qualified
by
GAAP
reconciliation
information
available
on
our
corporate
website
at
www.pnc.com
under
“About
PNC–Investor
Relations.”

3
PNC’s Business Model Performed Relatively Well
The National City acquisition provides a tremendous
opportunity to leverage our business model
The acquisition allowed us to mark higher risk assets to fair
value under purchase accounting
While credit quality migration accelerated, our reserve
coverage ratios strengthened
The TARP Capital Purchase Program issuance enhanced our 
already strong capital levels
We remained core funded with substantial liquidity
Excitement and enthusiasm about the acquisition allows us
to continue our focus on meeting the needs of our clients

4
A Leader in Executing the Banking Basics
(32%)
11%
3 year CAGR
(28%)
9%
5 year CAGR
(37%)
15%
1 year
Pretax
pre-provision
earnings
growth
11%
14%
Average noninterest-bearing deposits
10%
8%
(3%)
7%
13%
Peers
12%
11%
6%
12%
19%
PNC
4Q08 growth versus 2Q07
Average total loans
Average total deposits
Average noninterest-bearing deposits
Average total deposits
Average total loans
4Q08 annualized linked quarter growth
(1)  Peer comparison source: SNL DataSource; Peers represents average of super-regional banks identified in the Appendix other than
PNC.  (2) Total revenue less noninterest expense.  Further information is provided in the Appendix.
PNC has remained “open
for business”
throughout
the credit crunch…
…and remains committed
to meeting the needs of
our clients…
Note:  PNC average balances and pretax pre-provision earnings were not impacted by the
National City acquisition, which closed on December 31, 2008.
…while delivering long
term value for our
shareholders.
1
2

5
Key Messages
Rapidly weakening economic conditions impacted
results
Strengthened capital, liquidity and loan loss reserve
coverage
Created significant positive operating leverage
offsetting a substantial portion of increased credit costs
Remained focused on the balance sheet,
transformation process underway
Financial projections of acquisition exceed original
expectations

6
Capital and Liquidity
PNC Is Well-Positioned in Terms of Capital and Liquidity.
21%
88%
5.1%
3.6%
8.2%
Sept 30
2008
15%
91%
4.1%
2.8%
9.7%
Dec 31
2008
Substantial 12/31/08 liquidity position enabling PNC to meet all
2009 debt maturities
Dec 31
2007
Key Capital Ratios
6.8%
Tier 1 risk-based
4.7%
Tangible common equity
4.8%
Tangible common equity excluding accumulated
other comprehensive loss
2,3
22%
Investment securities to total assets
83%
Loans to deposits
Key Liquidity Ratios
(1)
December
31,
2008
estimated.
(2)
Common
shareholders’
equity
less
goodwill
and
other
intangible
assets
net
of
eligible
deferred
taxes
(excluding
mortgage
servicing
rights)
divided
by
period-end
assets
less
goodwill
and
other
intangible
assets
net
of
eligible
deferred
taxes
(excluding
mortgage
servicing
rights).
(3)
Accumulated
other
comprehensive
loss
as
of
12/31/08,
9/30/08,
and
12/31/07
was
$3.9
billion,
$2.2
billion,
and
$147
million,
respectively.
Adjusted
percentages
are
reconciled
to
GAAP
in
the
Appendix.
1
2

7
$5.5
$3.7
$6.7
$4.3
$7.2
$4.4
2004
2007
2008
PNC’s Disciplined Growth Strategies Resulted in Significant
Positive Operating Leverage.
Creating Positive Operating Leverage
Expense
+3%
Revenue
+7%
Operating
Leverage
+4%
2007-2008
Revenue
+7%
Expense
+5%
Operating
Leverage
+2%
2004-2007 CAGR
$1.8
$2.4
$2.8
Revenue
Expense
Pretax pre-provision earnings
(1)
Total
revenue
less
noninterest
expense.
Further
information
is
provided
in
the
Appendix.
1

8
PNC’s Balance Sheet Composition
PNC’s Commitment to Prudent Risk Management Remains a Top
Priority for Creating Long Term Value.
100%
8.7
7.1
17.9
66.3%
100%
15.1
60.3
14.9
1.5
8.2%
2008 % of total
$291.1
25.4
20.6
52.2
$192.9
$291.1
43.8
175.5
43.5
4.4
$23.9
Dec 31
2008
100%
10.7
7.5
22.3
59.5%
100%
18.7
49.2
21.8
2.8
7.5%
2007 % of total
Total liabilities and shareholders’
equity
Shareholders’
equity
Other liabilities and interests in consolidated entities
Total borrowed funds
Deposits
Total assets
Other assets and allowance for loan and lease losses
Loans, net of unearned income
Investment securities
Loans held for sale
Cash and short-term investments
in billions

9
Credit Quality Migration
(1) As of quarter end, except net charge-off percentage.  Net charge-off percentage is annualized.  Information for December 31, 2008,
other
than
net
charge-offs,
includes
the
impact
of
National
City,
which
we
acquired
as
of
December
31,
2008.
2008
151
142
125
236
Allowance for loan and lease losses
to nonperforming loans
1.22
1.35
1.40
2.23
Allowance for loan and lease losses
to total loans
.44
.51
.60
.74
Nonperforming assets to total assets
.87
1.00
1.16
1.23
Nonperforming assets to total loans
and foreclosed assets
.81
.95
1.12
.95
Nonperforming loans to total loans
.57
.62
.66
1.09
Net charge-offs to average loans
Mar 31
June 30
Sept 30
Dec 31
Asset quality ratios , %
Credit Quality Migration, While Accelerating, Remains Manageable
Credit Quality Migration, While Accelerating, Remains Manageable
in Light of Our Ability to Maintain a Strong Capital Position.
in Light of Our Ability to Maintain a Strong Capital Position.
1

10
Investment Securities
$(5.4)
100%
$43.5
Total investment securities
3.1 years
3.1
3.2
5.3
8.7
$23.2
Fair
value
Dec 31, 2008
Expected weighted average life
(.1)
(.4)
(.9)
(4.4)
$.4
Net unrealized
gain/(loss)
20
Non-agency residential mortgage-backed
7
Other (primarily municipals)
12
Commercial mortgage-backed
8
Asset-backed
53%
% of
total
Agency residential mortgage-backed
in billions
(1) Excluding corporate stocks and other included in “Other.”
(2) Rated by at least two nationally recognized rating agencies.
PNC’s Investment Securities Portfolio Is High Quality.
2008 other-than-temporary impairments of $314 million, including $74 million of
FNMA/FHLMC preferred stock
$180 million, or 75% of the remaining impairments, were attributable to changes in
market spreads and market illiquidity
91%
of
the
portfolio
is
Agency
or
AAA-rated
equivalent
1
2

11
A Financially Compelling Transaction
15% +
15% +
Estimated internal rate of return
Significant early client wins across the franchise
$2.1 billion
$2.4 billion
Performing loans
$11.0 billion
$7.4 billion
Impaired loans
$1.2 billion
$1.2 billion +
Estimated annualized cost reduction
$1.8 billion
$504 million
Conforming credit provision adjustment
2010
Estimates at
announcement²
2009
Closing
Estimated year of accretion to GAAP EPS
Purchase accounting adjustments:
National City acquisition  –
financial assessment
PNC Is Increasingly Confident about the Long Term Benefits of the
Acquisition.
(1) The acquisition of National City was announced on October 24, 2008 and closed on December 31, 2008.  (2) These estimates were
based on pre-announcement due diligence using interim financial information, including loan balances as of August 31, 2008.
1

12
2009 Assumptions
Severe recessionary conditions
Continued credit quality migration
Continued growth in total revenue driven by net
interest income
Well controlled expenses while investing in growth
initiatives
Enhanced capital ratios

13
Major Integration Accomplishments
A Significant Amount of Progress Has Been Made and We Are on
A Significant Amount of Progress Has Been Made and We Are on
Track to Meet Our Next Objectives.
Track to Meet Our Next Objectives.
Appointed integration leaders and teams
Announced leadership team and regional executives
Appointed new Chief Executive Officer of the mortgage business
Announced transaction on Oct 24, 2008
Kicked off extensive deposit gathering campaign
Conducted 15+ town hall meetings across the new franchise
Systems decisions nearly final
Launched comprehensive customer and employee communications
Conversion timelines have been set
Product and data mapping nearly complete
Announced business, market, and staff organizations
Closed transaction, purchase accounting marks significantly de-risked the balance sheet

14
Key Integration Objectives
Purchase accounting marks finalized, credit approval and
loan/deposit pricing processes aligned
Return the balance sheet
to a moderate risk profile
Distressed and core loan portfolios identified
Systems application selection nearly complete and
conversion timelines set
Schedule for branch conversion near completion
Process underway, expect significant portion to be achieved
through attrition and elimination of open positions
Cost save plan being implemented
Status as of Feb 3, 2009
Identify distressed loans
and maximize value
Convert branch network
Achieve $1.2 billion of
annualized cost saves
Integrate technology
platforms
Eliminate 5,800 positions
across organization
Objective
The Foundation for a Smooth and Successful Integration Has Been
Established and Communicated.

15
Significant Retail and Wealth Management
Revenue Opportunity
Combine products and platforms for full impact
delivery across our attractive high net worth
markets
Gain synergies by leveraging the strengths of
personal wealth areas and institutional product sets
Leverage our established branch referral processes
$110B AUM
$125B AUA
$57B AUM
$87B AUA
Asset
management
Expand touch point opportunities to increase our
brand awareness and convenience
6,232
4,041
ATMs
Leverage one of the largest branch distribution
networks in the U.S.
2,589
1,148
Branches
2.9 million
Legacy PNC
6+ million
PNC
Allows for deeper penetration of our product set,
especially fee based and payment business related
products
Combine focus on on-line innovation and platform
integration efficiencies
Leverage strengths in small business client area to
provide highly profitable sources of funding
Consumer
and small
business
customers
Opportunity
As
of
December
31,
2008.
PNC
acquired
National
City
Corporation
on
December
31,
2008.
(1)
Does
not
include
and
(2)
includes
the
impact
of
National
City.
(3)
None
of
anticipated
branch
divestitures
or
closings
assumed.
1
3
3
2

16
Significant Corporate & Institutional
Banking Revenue Opportunity
Combine expertise across top industries
Retain and deepen long-term relationships
Right size portfolios to meet risk/return criteria
$45 billion
$17 billion
Commercial
loans (excluding
real estate)
Combine strengths across DUS, FHA, Mezzanine,
REIT, and low income housing capabilities
Scale back residential development exposures
$28 billion
$9 billion
Commercial
real estate
loans
Leverage established deposit gathering strategy
and relationship based approach
$27 billion
$15 billion
Deposits
Leverage our demonstrated cross selling
capabilities
Significant opportunity to leverage our range of
relationship-based products and services
$400 million
$336 million
Capital
markets
revenue
Leverage combined strengths in the middle market
Opportunity to significantly improve risk adjusted
returns through fee-based product offerings
$975 million
$545 million
Treasury
management
revenue
Legacy PNC
PNC
Opportunity
As of or for the year ended December 31, 2008.  PNC acquired National City Corporation on December 31, 2008.  (1) Does not include
and (2) includes the impact of National City.  Revenue items include PNC estimates of National City revenue as if the acquisition had
been completed at the beginning of 2008.
1
2

17
A relentless focus on implementing the PNC model
Commitment to returning to a moderate risk profile
Grow high quality revenue streams
A focus on continuous improvement
Disciplined approach to capital management
Strong execution capabilities
Summary
PNC Continues to Build a Great Company.
PNC Continues to Build a Great Company.

18
Cautionary Statement Regarding Forward-Looking
Information
Appendix
This
presentation
includes
“snapshot”
information
about
PNC
used
by
way
of
illustration
and
is
not
intended
as
a
full
business
or
financial
review.
It
should
not
be
viewed
in
isolation
but
rather
in
the
context
of
all
of
the
information
made
available
by
PNC
in
its
SEC
filings. 
We
also
make
statements
in
this
presentation,
and
we
may
from
time
to
time
make
other
statements,
regarding
our
outlook
or
expectations
for
earnings,
revenues,
expenses
and/or
other
matters
regarding
or
affecting
PNC
that
are
forward-looking
statements
within
the
meaning
of
the
Private
Securities
Litigation
Reform
Act.
Forward-looking
statements
are
typically
identified
by
words
such
as
“believe,”
“expect,”
“anticipate,”
“intend,”
“outlook,”
“estimate,”
“forecast,”
“will,”
“project”,
“target”,
“potential”
and
other
similar
words
and
expressions.
Forward-looking
statements
are
subject
to
numerous
assumptions,
risks
and
uncertainties,
which
change
over
time.
Forward-looking
statements
speak
only
as
of
the
date
they
are
made.
We
do
not
assume
any
duty
and
do
not
undertake
to
update
our
forward-looking
statements.
Because
forward-looking
statements
are
subject
to
assumptions
and
uncertainties,
actual
results
or
future
events
could
differ,
possibly
materially,
from
those
that
we
anticipated
in
our
forward-looking
statements,
and
future
results
could
differ
materially
from
our
historical
performance.
Our
forward-looking
statements
are
subject
to
the
following
principal
risks
and
uncertainties.
We
provide
greater
detail
regarding
some
of
these
factors
in
our
2007
Form
10-K
and
our
2008
Form
10-Qs,
including
in
the
Risk
Factors
and
Risk
Management
sections
of
those
reports,
and
in
our
other
SEC
reports.
Our
forward-looking
statements
may
also
be
subject
to
other
risks
and
uncertainties,
including
those
that
we
may
discuss
elsewhere
in
this
presentation
or
in
our
filings
with
the
SEC,
accessible
on
the
SEC’s
website
at
www.sec.gov
and
on
or
through
our
corporate
website
at
www.pnc.com/secfilings.
We
have
included
these
web
addresses
as
inactive
textual
references
only.
Information
on
these
websites
is
not
part
of
this
document.
Our
businesses
and
financial
results
are
affected
by
business
and
economic
conditions,
both
generally
and
specifically
in
the
principal
markets
in
which
we
operate.
In
particular,
our
businesses
and
financial
results
may
be
impacted
by:
o
Changes
in
interest
rates
and
valuations
in
the
debt,
equity
and
other
financial
markets.
o
Disruptions
in
the
liquidity
and
other
functioning
of
financial
markets,
including
such
disruptions
in
the
markets
for
real
estate
and
other
assets
commonly
securing
financial
products.
o
Actions
by
the
Federal
Reserve
and
other
government
agencies,
including
those
that
impact
money
supply
and
market
interest
rates.
o
Changes
in
our
customers’,
suppliers’
and
other
counterparties’
performance
in
general
and
their
creditworthiness
in
particular.
o
Changes
in
customer
preferences
and
behavior,
whether
as
a
result
of
changing
business
and
economic
conditions
or
other
factors.
o
Changes
resulting
from
the
Emergency
Economic
Stabilization
Act
of
2008,
and
other
legislative
and
regulatory
developments
in
response
to
the
current
economic
and
financial
situation,
including
conditions
imposed
as
a
result
of
our
participation
in
the
Capital
Purchase
Program.
A
continuation
of
recent
turbulence
in
significant
portions
of
the
US
and
global
financial
markets,
particularly
if
it
worsens,
could
impact
our
performance,
both
directly
by
affecting
our
revenues
and
the
value
of
our
assets
and
liabilities
and
indirectly
by
affecting
our
counterparties
and
the
economy generally.
Our
business
and
financial
performance
could
be
impacted
as
the
financial
industry
restructures
in
the
current
environment,
both
by
changes
in
the
creditworthiness
and
performance
of
our
counterparties
and
by
changes
in
the
competitive
landscape.

19
Cautionary Statement Regarding Forward-Looking
Information (continued)
Appendix
Given
current
economic
and
financial
market
conditions,
our
forward-looking
financial
statements
are
subject
to
the
risk
that
these
conditions
will
be
substantially
different
than
we
are
currently
expecting.
These
statements
are
based
on
our
current
expectations
that
interest
rates
will
remain
low
through
2009
with
continued
wide
market
credit
spreads,
and
our
view
that
national
economic
trends
currently
point
to
a
continuation
of
severe
recessionary
conditions
in
2009
followed
by
a
subdued
recovery.
Our
operating
results
are
affected
by
our
liability
to
provide
shares
of
BlackRock
common
stock
to
help
fund
certain
BlackRock
long-term
incentive
plan
(“LTIP”)
programs,
as
our
LTIP
liability
is
adjusted
quarterly
(“marked-to-market”)
based
on
changes
in
Blackrock's
common
stock
price
and
the
number
of
remaining
committed
shares,
and
we
recognize
gain
or
loss
on
such
shares
at
such
times
as
shares
are
transferred
for
payouts
under the LTIP programs.
Legal
and
regulatory
developments
could
have
an
impact
on
our
ability
to
operate
our
businesses
or
our
financial
condition
or
results
of
operations
or
our
competitive
position
or
reputation.
Reputational
impacts,
in
turn,
could
affect
matters
such
as
business
generation
and
retention,
our
ability
to
attract
and
retain
management,
liquidity,
and
funding.
These
legal
and
regulatory
developments
could
include:
(a)
the
unfavorable
resolution
of
legal
proceedings
or
regulatory
and
other
governmental
inquiries;
(b)
increased
litigation
risk
from
recent
regulatory
and
other
governmental
developments;
(c)
the
results
of
the
regulatory
examination
process,
our
failure
to
satisfy
the
requirements
of
agreements
with
governmental
agencies,
and
regulators’
future
use
of
supervisory
and
enforcement
tools;
(d)
legislative
and
regulatory
reforms,
including
changes
to
laws
and
regulations
involving
tax,
pension,
education
lending,
the
protection
of
confidential
customer
information,
and
other
aspects
of
the
financial
institution
industry;
and
(e)
changes
in
accounting
policies
and
principles.
Our
issuance
of
securities
to
the
United
States
Treasury
may
limit
our
ability
to
return
capital
to
our
shareholders
and
is
dilutive
to
our
common
shares.
If
we
are
unable
previously
to
redeem
the
shares,
the
dividend
rate
increases
substantially
after
five
years.
Our
business
and
operating
results
are
affected
by
our
ability
to
identify
and
effectively
manage
risks
inherent
in
our
businesses,
including,
where
appropriate,
through
the
effective
use
of
third-party
insurance,
derivatives,
and
capital
management
techniques.
The
adequacy
of
our
intellectual
property
protection,
and
the
extent
of
any
costs
associated
with
obtaining
rights
in
intellectual
property
claimed
by
others,
can
impact
our
business
and
operating
results.
Our
ability
to
anticipate
and
respond
to
technological
changes
can
have
an
impact
on
our
ability
to
respond
to
customer
needs
and
to
meet
competitive demands.
Our
ability
to
implement
our
business
initiatives
and
strategies
could
affect
our
financial
performance
over
the
next
several
years.
Competition
can
have
an
impact
on
customer
acquisition,
growth
and
retention,
as
well
as
on
our
credit
spreads
and
product
pricing,
which
can
affect
market
share,
deposits
and
revenues.
Our
business
and
operating
results
can
also
be
affected
by
widespread
natural
disasters,
terrorist
activities
or
international
hostilities,
either
as
a
result
of
the
impact
on
the
economy
and
capital
and
other
financial
markets
generally
or
on
us
or
on
our
customers,
suppliers
or
other
counterparties
specifically.
Also,
risks
and
uncertainties
that
could
affect
the
results
anticipated
in
forward-looking
statements
or
from
historical
performance
relating
to
our
equity
interest
in
BlackRock,
Inc.
are
discussed
in
more
detail
in
BlackRock’s
filings
with
the
SEC,
including
in
the
Risk
Factors
sections
of
BlackRock’s
reports.
BlackRock’s
SEC
filings
are
accessible
on
the
SEC’s
website
and
on
or
through
BlackRock’s
website
at
www.blackrock.com. 
This
material
is
referenced
for
informational
purposes
only
and
should
not
be
deemed
to
constitute
a
part
of
this
document.

20
Cautionary Statement Regarding Forward-Looking
Information (continued)
Appendix
In
addition,
our
recent
acquisition
of
National
City
Corporation
(“National
City”)
presents
us
with
a
number
of
risks
and
uncertainties
related
both
to
the
acquisition
transaction
itself
and
to
the
integration
of
the
acquired
businesses
into
PNC.
These
risks
and
uncertainties
include
the
following:
The
transaction
may
be
substantially
more
expensive
to
complete
(including
the
required
divestitures
and
the
integration
of
National
City’s
businesses)
and
the
anticipated
benefits,
including
anticipated
cost
savings
and
strategic
gains,
may
be
significantly
harder
or
take
longer
to
achieve
than
expected
or
may
not
be
achieved
in
their
entirety
as
a
result
of
unexpected
factors
or
events.
Our
ability
to
achieve
anticipated
results
from
this
transaction
is
dependent
on
the
state
going
forward
of
the
economic
and
financial
markets,
which
have
been
under
significant
stress
recently.
Specifically,
we
may
incur
more
credit
losses
from
National
City’s
loan
portfolio
than
expected.
Other
issues
related
to
achieving
anticipated
financial
results
include
the
possibility
that
deposit
attrition
or
attrition
in
key
client,
partner
and
other
relationships
may
be
greater
than
expected.
Litigation
and
governmental
investigations
currently
pending
against
National
City,
as
well
as
others
that
may
be
filed
or
commenced
as
a
result
of
this
transaction
or
otherwise,
could
impact
the
timing
or
realization
of
anticipated
benefits
to
PNC
or
otherwise
adversely
impact
our
financial
results. 
Our
ability
to
achieve
anticipated
results
is
also
dependent
on
our
ability
to
bring
National
City’s
systems,
operating
models,
and
controls
into
conformity
with
ours
and
to
do
so
on
our
planned
time
schedule.
The
integration
of
National
City’s
business
and
operations
into
PNC,
which
will
include
conversion
of
National
City’s
different
systems
and
procedures,
may
take
longer
than
anticipated
or
be
more
costly
than
anticipated
or
have
unanticipated
adverse
results
relating
to
National
City’s
or
PNC’s
existing
businesses.
PNC’s
ability
to
integrate
National
City
successfully
may
be
adversely
affected
by
the
fact
that
this
transaction
will
result
in
PNC
entering
several
markets
where
PNC
did
not
previously
have
any
meaningful
retail
presence.
In
addition
to
the
National
City
transaction,
we
grow
our
business
from
time
to
time
by
acquiring
other
financial
services
companies.
Acquisitions
in
general
present
us
with
risks,
in
addition
to
those
presented
by
the
nature
of
the
business
acquired,
similar
to
some
or
all
of
those
described
above
relating
to
the
National
City
acquisition.
Any
annualized,
proforma,
estimated,
third
party
or
consensus
numbers
in
this
presentation
are
used
for
illustrative
or
comparative
purposes
only
and
may
not
reflect
actual
results.
Any
consensus
earnings
estimates
are
calculated
based
on
the
earnings
projections
made
by
analysts
who
cover
that
company.
The
analysts’
opinions,
estimates
or
forecasts
(and
therefore
the
consensus
earnings
estimates)
are
theirs
alone,
are
not
those
of
PNC
or
its
management,
and
may
not
reflect
PNC’s,
National
City’s,
or
other
company’s
actual
or
anticipated
results.

21
Non-GAAP to GAAP Reconcilement
Appendix
In millions, except percentages
Tier 1 risk-based capital ratio (a)
December 31
2008
Tier 1 risk-based capital
$24,328
Less: TARP issuance
7,579
            
Tier 1 risk-based capital less TARP issuance
$16,749
Risk weighted assets (assumes no decrease in assets without TARP
issuance)
$249,498
Tier 1 risk-based capital ratio as reported
9.7
               
%
Less: TARP issuance
3.0
               
Tier 1 risk-based capital ratio as adjusted
6.7
               
%
Tangible common equity ratio (a, b)
December 31
September 30
December 31
2008
2008
2007
Common shareholders' equity
$17,490
$13,712
$14,847
Add back: accumulated other comprehensive loss (AOCL)
3,949
            
2,230
        
147
             
Common shareholders' equity, excluding AOCL
$21,439
$15,942
$14,994
Goodwill and other intangible assets, net of deferred taxes
$9,737
$8,812
$8,734
Total assets
$291,081
$145,610
$138,920
Add back: AOCL assets
3,282
            
2,107
        
(30)
             
Total assets, excluding AOCL
$294,363
$147,717
$138,890
Tangible common equity ratio, as reported
2.8
               
%
3.6
            
%
4.7
             
%
Add back: AOCL assets
1.3
               
1.5
            
.1
Tangible common equity ratio, as adjusted
4.1
               
%
5.1
            
%
4.8
             
%
(a) December 31, 2008 ratios are estimated.
(b)
Common
shareholders’
equity
less
goodwill
and
other
intangible
assets
net
of
eligible
deferred
taxes
(excluding
mortgage
servicing
rights)
divided
by
period-end
assets
less
goodwill
and
other
intangible
assets
net
of
eligible
deferred
taxes
(excluding
mortgage servicing rights).

22
Non-GAAP to GAAP Reconcilement
Appendix
In millions, except per share data
THREE MONTHS ENDED
Adjustments,
Net
Diluted
Adjustments,
Net
Diluted
Pretax
Income
EPS
Pretax
Income
EPS
Net income (loss), as reported
$(248)
$(.77)
$248
$.71
Adjustments:
   Conforming provision for credit losses - National City
$504
328
.94
            
   Other integration costs
81
                
52
      
.15
            
$14
10
             
.02
          
Net income, as adjusted
$132
$.32
$258
$.73
Adjustments,
Net
Diluted
Pretax
Income
EPS
Net income, as reported
$178
$.52
Adjustments:
   Integration costs
$79
(a)
50
      
.15
            
Net income, as adjusted
$228
$.67
YEAR ENDED
Adjustments,
Net
Diluted
Adjustments,
Net
Diluted
Pretax
Income
EPS
Pretax
Income
EPS
Net income, as reported
$882
$2.46
$1,467
$4.35
Adjustments:
   Conforming provision for credit losses - National City
$504
328
.95
            
   Other integration costs
145
               
(b)
94
      
.27
            
$151
(a)
99
.30
          
Net income, as adjusted
$1,304
$3.68
$1,566
$4.65
(a)
Includes the $45 million conforming provision for credit losses related to the Yardville acquisition.
(b)
Includes the $23 million conforming provision for credit losses related to the Sterling acquisition.
December 31, 2008
September 30, 2008
December 31, 2007
December 31, 2008
December 31, 2007
For the year ended December 31, 
in millions
2003
2004
2005
2006 (c)
2007
2008
'04-'07
CAGR
'07-'08
Change
'05-'08
CAGR
'03-'08
CAGR
Total revenue
$5,253
$5,541
$6,327
$8,572
$6,705
$7,190
7%
7%
Noninterest expense
3,476
3,712
4,306
4,443
4,296
4,430
5%
3%
Pretax pre-provision earnings
$1,777
$1,829
$2,021
$4,129
$2,409
$2,760
15%
11%
9%
Operating leverage
2%
4%
(c) Includes the impact on both revenue and expense of the BlackRock/MLIM transaction.

23
The PNC Financial Services Group, Inc.
PNC
BB&T Corporation
BBT
Comerica
CMA
Fifth Third Bancorp
FITB
KeyCorp
KEY
Regions Financial
RF
SunTrust Banks, Inc.
STI
U.S. Bancorp
USB
Wells Fargo & Company
WFC
Ticker
Peer Group of Super-Regional Banks
Appendix