The PNC Financial Services Group, Inc.
Second Quarter 2009
Earnings Conference Call
July 23, 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, capital and
liquidity levels, 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
some
of
these
factors
in
our
2008
Form
10-K
and
first
quarter
2009
Form
10-Q,
including in the Risk Factors and Risk Management sections of those reports, 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 web addresses here and elsewhere in this
presentation 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 may 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 believe that this
additional
information
and
the
reconciliations
we
provide
may
be
useful
to
investors,
analysts,
regulators
and
others
as
they
evaluate
the
impact
of
these items on our results for the periods presented. 
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
Key Take-Aways
from 2Q09
Results demonstrate resiliency of our business model
Transitioning
the
balance
sheet
–
increased
capital
and
maintained strong liquidity
Credit quality deterioration continued along with the
broader
economy
–
continued
to
build
loan
loss
reserves
Businesses performing well across the franchise;
capturing market share throughout the footprint
Integration
of
National
City
on
track
–
benefits
exceeding
original expectations
Despite the Environment, PNC Is Focused on Delivering Value.
Despite the Environment, PNC Is Focused on Delivering Value.

4
2Q09 Performance Overview
-
.19
Special FDIC assessment
.11
.26
Declared preferred dividends including TARP
.08
.20
Integration costs
EPS impact of:
$530
$207
Net income, millions
$.14
2Q09
$1.03
1Q09
Reported earnings per diluted common share
Credit quality deterioration continued; increased loan loss reserves
Our business model is working
Maintained strong liquidity and improved capital positions
Solid performance driven by diverse revenue streams and well-controlled
expenses
2Q09 earnings summary

5
Diverse Revenue Streams Less
Well Controlled Expenses Exceed Credit Costs
PNC Is Recognized for Our Ability to Create Positive Operating
PNC Is Recognized for Our Ability to Create Positive Operating
Leverage in Anticipation of Increased Credit Costs.
Leverage in Anticipation of Increased Credit Costs.
Fund
servicing
$193
Asset
mgmnt
$208
Consumer
services
$329
Corporate
services
$264
Residential
mortgage
$245
Deposit
service
charges
$242
2Q09 -
Noninterest income categories in millions
$4.0
$2.7
$1.3
$1.1
Revenue
Expense
Pretax
pre-provision
earnings
1
Provision
(1) Total
revenue
less
noninterest
expense.
Further
information
is
provided
in
the
Appendix.
11%
11%
18%
14%
15%
13%
Other
$324
18%
$7.9
$5.0
$2.9
$2.0
Three months ended
Six months ended
June 30
45%
2Q09
noninterest
income
$1.8B
(billions)

6
Loan Portfolio
$59.8
Commercial
Commercial
real estate
2Q09
Total
loans
$165
Home equity
Residential
real estate
Impaired
1
Equipment
leasing
$32.9
$15.6
$12.5
$6.1
$22.9
Information in billions except percentages. (1) Loans acquired in the National City acquisition and impaired in accordance with AICPA
Statement of Position 03-3 (“SOP 03-3”).  (2) Provision to average loans and net charge-offs to average loans percentages are
annualized.
Other
consumer
$15.2
14%
36%
8%
9%
20%
9%
4%
Commercial real estate is 67% project
related and 33% mortgage
Residential real estate is 10% construction
and 90% mortgage
Home equity portfolio is high quality and
performing well
Impaired portfolio marked by 38%
Portfolio highlights
Nonperforming loans increased $1.1
billion, or 36%, versus an increase of $1.3
billion last quarter
Nonperforming loans to total loans
increased to 2.44% from 1.73%
Provision
to
average
loans
2
increased
to
2.57% from 2.03%
Net
charge-offs
to
average
loans
2
increased to 1.89% from 1.01%
Allowance for loan and lease losses to total
loans increased to 2.77% from 2.51%
2Q09 vs. 1Q09

7
Credit Quality Deterioration Continued
(1) Net charge-offs to average loans percentages are annualized.  (2) Loans acquired in the National City acquisition and impaired in
accordance with AICPA Statement of Position 03-3 (“SOP 03-3”).
$12.7
$12.5
Carrying value
$21.0
$20.0
Outstanding balance
Impaired
loans
2
Net
charge-offs
to
average
loans
1
.65%
1.68%
Consumer lending
1.27%
2.05%
Commercial lending
.55%
1.10%
NPLs/consumer lending
$.41
$.80
Total consumer
.02
.03
Other consumer
.08
.11
Home equity
$2.54
$3.23
Total commercial NPLs
$.31
$.66
Residential real estate
2.63%
3.52%
NPLs/commercial lending
.12
.12
Equipment leasing
1.21
1.45
Commercial
$1.21
$1.66
Commercial real estate
Nonperforming loans
March 31, 2009
June 30, 2009
(billions, except percentages)
Areas of focus
Commercial real
estate
Commercial
-
Real estate
related
-
Auto industry
Residential real
estate

8
Strengthening Capital Ratios
9.7%
4Q08
1Q09
4.8%
4.9%
4Q08
1Q09
Tier 1 common ratio
Tier 1 risk-based ratio
5.3%
1
10.0%
10.5%
1
2Q09
2Q09
(1) Estimated.
At-the-market offering
increased Tier 1
common by
approximately $625
million
Current capital ratios
exceed end of period
stress test
requirements
Stress test-related
capital plan accepted
by regulators
2Q09 Highlights

9
PNC’s Framework for Success
0.53%
$500 million
43%
2.3%
87%
Six months ended
June 30, 2009
1.30%+
$1.2 billion
>50%
0.3%-0.5%
80%-90%
Target
Execute on and deliver the PNC
business model
Return on
average assets
Key Metrics
Action Plans
Loan to
deposit ratio
Maximize credit portfolio value
Reposition deposit gathering strategies
Provision to
average loans
(annualized)
Focus “front door”
on risk-adjusted
returns
Leverage “back door”
credit liquidation
capabilities
Noninterest
income/total
revenue
Reduce dependence on credit leverage
Focus on cross selling PNC’s deep
product offerings
Integration
cost savings
(annualized)
Capitalize on integration opportunities
Emphasize continuous improvement
culture
Executing our
strategies
PNC Business
Model
Staying core
funded
Returning to a
moderate risk
profile
Growing high
quality, diverse
revenue
streams
Creating
positive
operating
leverage

10
Summary
PNC Continues to Build a Great Company.
PNC Continues to Build a Great Company.
Leveraging PNC’s business model delivered solid
results
The National City integration is on track and the
benefits are expected to exceed original
estimates
PNC is well-positioned to deliver greater
shareholder value as the economy recovers

11
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, capital levels, liquidity levels, asset quality 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,”
“plan,”
“expect,”
“anticipate,”
“intend,”
“outlook,”
“estimate,”
“forecast,”
“will,”
“project”
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.  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
2008
Form
10-K
and
first
quarter
2009
Form
10-Q,
including
in
the
Risk
Factors
and
Risk
Management
sections
of
those
reports,
and in our other SEC filings.  Our forward-looking statements may also be subject to other risks and uncertainties, including those that we may
discuss elsewhere in this news release 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:
•Changes
in
interest
rates
and
valuations
in
the
debt,
equity
and
other
financial
markets.
•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.
•Actions by the Federal Reserve and other government agencies, including those that impact money supply and market interest rates.
•Changes
in
our
customers’,
suppliers’
and
other
counterparties’
performance
in
general
and
their
creditworthiness
in
particular.
•Changes in levels of unemployment.
•Changes in customer preferences and behavior, whether as a result of changing business and economic conditions or other factors.
•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 and regulatory landscape.
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 in 2010.

12
Cautionary Statement Regarding Forward-Looking
Information (continued)
Appendix
•
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:
•
Changes resulting from legislative and regulatory responses to the current economic and financial industry environment, including current and
future conditions or restrictions imposed as a result of our participation in the TARP Capital Purchase Program.
•
Other legislative and regulatory reforms, including broad-based restructuring of financial industry regulation as well as changes to laws and
regulations involving tax, pension, bankruptcy, consumer protection, and other aspects of the financial institution industry.
•
Increased litigation risk from recent regulatory and other governmental developments.
•
Unfavorable resolution of legal proceedings or regulatory and other governmental inquiries.
•
The results of the regulatory examination and supervision process, including our failure to satisfy the requirements of agreements with
governmental agencies.
•
Changes in accounting policies and principles.
Our issuance of securities to the US Department of the 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,
and
by
our
ability
to
meet
evolving
regulatory capital standards.
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.
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 itself and to the integration of the acquired businesses into PNC.  These risks and uncertainties include the following:
The
anticipated
benefits
of
the
transaction,
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.

13
Cautionary Statement Regarding Forward-Looking
Information (continued)
Appendix
•
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 relating to
National City’s business and activities before the acquisition, could 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 has resulted 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 or other company’s actual or anticipated results.

14
Non-GAAP to GAAP Reconcilement
Appendix
Six months ended
March 31, 2009
June 30, 2009
June 30, 2009
in millions
Total revenue
$3,871
$3,987
$7,858
Noninterest expense
2,328
               
2,658
                
4,986
                      
Pretax pre-provision earnings
$1,543
$1,329
$2,872
Three months ended
PNC believes that pretax pre-provision earnings is useful as a tool to help evaluate ability to provide
for credit costs through operations.
Three
months
ended,
in
millions
June 30, 2009
Net income
$207
After-tax impact of:
Special FDIC assessment
86
Integration costs
91
Net income excluding selected items
$384
Three months ended
June 30, 2009
Earnings per diluted share
$.14
EPS impact of:
Special FDIC assessment
.19
Integration costs
.20
EPS excluding selected items
$.53
PNC believes that information adjusted for the impact of these items may be useful due to the extent to
which the items are not indicative of our ongoing operations.