pnc-20260715

Exhibit 99.1

PNC Reports Second Quarter 2026 Net Income of $2.1 Billion,

$4.81 Diluted EPS or $4.85 as Adjusted

Generated record revenue, net interest income and fee income

Increased quarterly common stock dividend 30 cents, or 18%, to $2.00 per share

PITTSBURGH, July 15, 2026 – The PNC Financial Services Group, Inc. (NYSE: PNC) today reported:


	For the quarter
In millions, except per share data and as noted	2Q26			1Q26			2Q25			Second Quarter Highlights
										▪
Financial Results										Comparisons reflect 2Q26 vs. 1Q26



Net interest income (NII)	$	4,107		$	3,961		$	3,555		Income Statement ▪Adjusted EPS was $4.85 which excludes the net impact of FirstBank integration costs and 2Q26 significant items, resulting in a 4 cent reduction to EPS ▪Generated 3% positive operating leverage; PPNR increased 16%; ROTCE of 17.9% ▪NII increased 4%; NIM of 2.96% increased 1 bp ▪Fee income increased 10%, driven by strong capital markets activity ▪Noninterest expense of $4.1 billion included $140 million of PNC Foundation contribution expense, $121 million of integration expenses and the impact of increased business activity Balance Sheet ▪Average loans increased $12.3 billion, or 4% ▪Average deposits were stable –Average noninterest-bearing deposits grew 4% –Rate paid on interest-bearing deposits declined 5 basis points ▪Net loan charge-offs were $226 million, or 0.25% annualized to average loans ▪Maintained strong capital position –CET1 capital ratio of 9.9% –Returned $1.3 billion to shareholders, including $0.6 billion of share repurchases –Increased quarterly common stock dividend 30 cents, or 18% to $2.00 per share ▪Converted FirstBank customers, employees, systems and branches as of June 22, 2026
Fee income (non-GAAP)	2,279			2,079			1,894
Other noninterest income	489			125			212
Noninterest income	2,768			2,204			2,106
Revenue	6,875			6,165			5,661


Noninterest expense	4,098			3,768			3,383


Pretax, pre-provision earnings (PPNR) (non-GAAP)	2,777			2,397			2,278


Provision for credit losses	191			210			254
Net income	2,055			1,772			1,643


Per Common Share
Diluted earnings per share (EPS)	$	4.81		$	4.13		$	3.85
EPS impact of integration costs and 2Q26 significant items	0.04			0.19			—
Diluted EPS - as adjusted (non-GAAP)	4.85			4.32			3.85
Average diluted common shares outstanding	403			405			397
Book value	145.52			143.65			131.61
Tangible book value (TBV) (non-GAAP)	111.09			109.42			103.96


Balance Sheet & Credit Quality
Average loans In billions	$	363.2		$	350.9		$	322.8

Noninterest-bearing deposits In billions	103.5			99.1			93.1
Interest-bearing deposits In billions	353.5			359.3			329.8
Average deposits In billions	457.0			458.4			423.0
Accumulated other comprehensive income (loss) (AOCI) In billions	(4.1)			(3.8)			(4.7)
Net loan charge-offs	226			253			198


Allowance for credit losses to total loans	1.48		%	1.52		%	1.62		%


Selected Ratios
Return on average common shareholders’ equity	13.61		%	11.92		%	12.20		%
Return on avg. tangible common equity (ROTCE) (non-GAAP)	17.88			15.66			15.55
Return on average assets	1.34			1.19			1.17


Net interest margin (NIM) (non-GAAP)	2.96			2.95			2.80
Noninterest income to total revenue	40			36			37
Efficiency	60			61			60




Common equity tier 1 (CET1) capital ratio	9.9			10.1			10.5





See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release. Totals may not sum due to rounding. 1Q26 Diluted EPS - as adjusted, excludes $98 million of integration costs related to the FirstBank acquisition.

From Bill Demchak, PNC Chairman and Chief Executive Officer:

“Our strong second quarter performance reflects the disciplined execution of our growth strategy and positions us well for the second half of the year. We remain focused on delivering results that support our customers, shareholders and communities. Our successful FirstBank conversion, strong capital position and announced dividend increase provide further evidence of the strength and resilience of our franchise.”

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 2

Acquisition of FirstBank

As of June 22, 2026, PNC has converted approximately 780,000 customers, more than 1,620 employees and 95 branches across Colorado and Arizona, merging FirstBank into PNC Bank. Second quarter of 2026 results include the full quarter benefit of FirstBank. First quarter of 2026 results include FirstBank operations since acquisition close on January 5, 2026.

Integration Costs and 2Q26 Significant Items

In the second quarter of 2026, PNC incurred integration costs related to the FirstBank acquisition of $127 million. Results for the quarter also reflected the impact of several significant items. PNC participated in the Visa exchange program monetizing 50% of its Visa Class B-2 shares resulting in a gain of $448 million and converting its remaining holdings into 0.9 million of Visa Class B-3 shares. This gain was substantially offset by a $140 million PNC Foundation contribution expense, a $139 million securities loss related to the repositioning of approximately $4 billion of available-for-sale investment securities into higher yielding instruments, and negative $85 million of Visa Class B-3 derivative fair value adjustments, driven by the extension of anticipated litigation resolution timing. The combined impact of both integration costs and 2Q26 significant items resulted in a $15 million decline in net income, or a 4 cent reduction to EPS.


Impact of Integration Costs and 2Q26 Significant Items
In millions	2Q26 Integration Costs and Significant Items



Noninterest Income	Integration Costs		Significant Items		Net Impact
Gain on exchange of Visa Class B-2 shares			$	448	$	448
Visa Class B-3 derivative fair value adjustments			(85)		(85)
Loss on sale of securities			(139)		(139)
Integration costs	$	(6)			(6)
Noninterest income impact of integration costs and 2Q26 significant items	$	(6)	$	224	$	218

Noninterest Expense
Contribution to PNC Foundation			$	140	$	140
Integration costs	$	121			121
Noninterest expense impact of integration costs and 2Q26 significant item	$	121	$	140	$	261

Net Income and EPS

Pretax, pre-provision impact	$	(127)	$	84	$	(43)
Income taxes (benefit)	(26)		(2)		(28)
Net Income decrease from integration costs and 2Q26 significant items	$	(101)	$	86	$	(15)



EPS impact of integration costs and 2Q26 significant items	$	(0.25)	$	0.21	$	(0.04)


Income taxes on integration costs and 2Q26 significant items are calculated at a statutory tax rate of 21% on pretax, pre-provision earnings. Significant items tax impact also includes the benefit of shares donated to the PNC Foundation.

Income Statement Highlights

Second quarter 2026 compared with first quarter 2026

▪Total revenue of $6.9 billion increased $710 million, or 12%, driven by growth in both noninterest income and net interest income.

–Net interest income of $4.1 billion increased $146 million, or 4%, and included the benefit of commercial loan growth and higher noninterest-bearing deposit balances.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 3

•Net interest margin increased 1 basis point to 2.96%.

–Fee income of $2.3 billion increased $200 million, or 10%, driven by growth across all fee categories, including record capital markets and advisory revenue.

–Other noninterest income of $489 million included both integration costs and 2Q26 significant items totaling $218 million as well as positive valuation adjustments of private equity investments.

▪Noninterest expense of $4.1 billion increased $330 million, or 9%, and included $261 million of both integration expenses and 2Q26 significant items, compared to $97 million of integration expenses in the first quarter. Excluding these items from each quarter, noninterest expense was $3.8 billion, increasing $166 million, or 5%, primarily due to increased business activity.

▪Provision for credit losses was $191 million in the second quarter and reflected portfolio activity as well as updates to macroeconomic factors.

▪The effective tax rate was 20.5% for the second quarter and 19.0% for the first quarter.

Balance Sheet Highlights

Second quarter 2026 compared with first quarter 2026 or June 30, 2026 compared with March 31, 2026

▪Average loans of $363.2 billion increased $12.3 billion, or 4%. Average commercial loans increased $13.0 billion, or 5%, driven by strong new production and increased utilization. Average consumer loans decreased $0.7 billion, or 1%, due to declines in both residential mortgage and auto loans, partially offset by growth in credit card loans.

–Loans at June 30, 2026 of $368.0 billion increased $7.0 billion, or 2%, from March 31, 2026 and included commercial loan growth, reflecting strong new production.

▪Credit quality performance:

–Delinquencies of $1.4 billion decreased $122 million, or 8%, due to lower commercial loan delinquencies.

–Total nonperforming loans of $2.0 billion decreased $216 million, or 10%, driven by lower commercial real estate nonperforming loans.

–Net loan charge-offs of $226 million decreased $27 million primarily due to FirstBank acquired net loan charge-offs of $45 million recognized in the first quarter.

–The allowance for credit losses of $5.5 billion was stable. The allowance for credit losses to total loans was 1.48% at June 30, 2026 and 1.52% at March 31, 2026.

▪Average investment securities of $147.1 billion increased $2.6 billion, or 2%, reflecting higher residential mortgage-backed securities.

▪Average deposits of $457.0 billion were stable. The rate paid on interest-bearing deposits of 1.91%, declined 5 basis points.

▪PNC maintained a strong capital and liquidity position:

–On July 6, 2026, the PNC board of directors raised the quarterly cash dividend on common stock to $2.00 per share, an increase of 30 cents, or 18%. The dividend is payable on August 5, 2026 to shareholders of record at the close of business July 20, 2026.

–PNC returned $1.3 billion of capital to shareholders, reflecting $0.7 billion of dividends on common shares and $0.6 billion of common share repurchases.

–Share repurchase activity in the third quarter of 2026 is expected to approximate second quarter of 2026 share repurchase levels.

–The Basel III common equity tier 1 capital ratio was an estimated 9.9% at June 30, 2026 and was 10.1% at March 31, 2026.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 4

–PNC’s average LCR for the three months ended June 30, 2026 was 106%, exceeding the regulatory minimum requirement throughout the quarter.


Earnings Summary
In millions, except per share data	2Q26		1Q26		2Q25
Net income	$	2,055	$	1,772	$	1,643
Net income attributable to diluted common shareholders	$	1,941	$	1,675	$	1,532

Net income attributable to diluted common shareholders - as adjusted (non-GAAP)	$	1,956	$	1,752	$	1,532
Diluted earnings per common share	$	4.81	$	4.13	$	3.85

Diluted earnings per common share - as adjusted (non-GAAP)	$	4.85	$	4.32	$	3.85
Average diluted common shares outstanding	403		405		397




Cash dividends declared per common share	$	1.70	$	1.70	$	1.60

See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release.

The Consolidated Financial Highlights accompanying this news release include additional information regarding reconciliations of non-GAAP financial measures to reported (GAAP) amounts. This information supplements results as reported in accordance with GAAP and should not be viewed in isolation from, or as a substitute for, GAAP results. Information in this news release, including the financial tables, is unaudited.


CONSOLIDATED REVENUE REVIEW

Revenue							Change		Change
							2Q26 vs		2Q26 vs
In millions	2Q26		1Q26		2Q25		1Q26		2Q25
Net interest income	$	4,107	$	3,961	$	3,555	4	%	16	%
Noninterest income	2,768		2,204		2,106		26	%	31	%
Total revenue	$	6,875	$	6,165	$	5,661	12	%	21	%

Total revenue for the second quarter of 2026 increased $710 million compared to the first quarter of 2026 and $1.2 billion compared to the second quarter of 2025. In both comparisons, the increase was driven by both higher noninterest income and net interest income.

Net interest income of $4.1 billion increased $146 million from the first quarter of 2026 and $552 million from the second quarter of 2025. In each comparison, the increase included the benefit of commercial loan growth and higher noninterest-bearing deposit balances. In comparison to the second quarter of 2025, the increase also reflected the benefit of FirstBank and lower funding costs.

Net interest margin was 2.96% in the second quarter of 2026, increasing 1 basis point from the first quarter of 2026. Compared to the second quarter of 2025, net interest margin expanded 16 basis points.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 5


Noninterest Income							Change		Change
							2Q26 vs		2Q26 vs
In millions	2Q26		1Q26		2Q25		1Q26		2Q25

Asset management and brokerage	$	440	$	420	$	391	5	%	13	%
Capital markets and advisory	577		463		321		25	%	80	%
Card and cash management	772		738		737		5	%	5	%
Lending and deposit services	346		340		317		2	%	9	%
Residential and commercial mortgage	144		118		128		22	%	13	%
Fee income (non-GAAP)	2,279		2,079		1,894		10	%	20	%
Other	489		125		212		291	%	131	%
Total noninterest income	$	2,768	$	2,204	$	2,106	26	%	31	%
Integration costs and 2Q26 significant items	218		(1)		—
Noninterest income, excluding integration costs and 2Q26 significant items (non-GAAP)	$	2,550	$	2,205	$	2,106	16	%	21	%
See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release.

Noninterest income for the second quarter of 2026 of $2.8 billion included $218 million of both integration costs and 2Q26 significant items. The first quarter of 2026 included $1 million of FirstBank related integration costs. Excluding these items from each quarter, noninterest income was $2.6 billion, increasing $345 million, or 16%, from the first quarter of 2026 and $444 million, or 21%, from the second quarter of 2025.

In comparison to the first quarter of 2026, fee income increased $200 million, or 10%, driven by growth across all fee categories. Asset management and brokerage fees increased $20 million as a result of higher average equity markets and increased client activity. Capital markets and advisory revenue increased $114 million driven by record merger and acquisition advisory fees as well as strong activity across other capital markets businesses. Card and cash management revenue increased $34 million due to seasonally higher consumer transaction volumes and growth in treasury management product revenue. Lending and deposit related revenue increased $6 million primarily due to increased customer activity. Residential and commercial mortgage revenue increased $26 million primarily driven by a first quarter of 2026 negative valuation of residential mortgage servicing rights, net of economic hedge, which did not recur.

Compared to the second quarter of 2025, fee income increased $385 million, or 20%, driven by an increase in capital markets and advisory revenue of $256 million as well as broad-based growth across the other fee income categories.

Other noninterest income of $489 million in the second quarter of 2026 included both integration costs and 2Q26 significant items totaling $218 million as well as positive valuation adjustments of private equity investments.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 6


CONSOLIDATED EXPENSE REVIEW

Noninterest Expense							Change		Change
							2Q26 vs		2Q26 vs
In millions	2Q26		1Q26		2Q25		1Q26		2Q25
Personnel	$	2,273	$	2,106	$	1,889	8	%	20	%
Occupancy	252		262		235		(4)	%	7	%
Equipment	435		415		394		5	%	10	%
Marketing	110		87		99		26	%	11	%
Other	1,028		898		766		14	%	34	%
Total noninterest expense	$	4,098	$	3,768	$	3,383	9	%	21	%
Integration costs and 2Q26 significant items	261		97		—
Noninterest expense, excluding integration costs and 2Q26 significant items (non-GAAP)	$	3,837	$	3,671	$	3,383	5	%	13	%
See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release.

Noninterest expense for the second quarter of 2026 of $4.1 billion included both integration costs and 2Q26 significant items totaling $261 million. The first quarter of 2026 included $97 million of FirstBank integration costs.

Noninterest expense excluding both integration costs and 2Q26 significant items was $3.8 billion, increasing $166 million from the first quarter of 2026 and $454 million compared to the second quarter of 2025. In each comparison the increase reflected the impact of increased business activity, higher marketing spend and continued investments to support business growth. Compared with the second quarter of 2025, the increase also included the impact of FirstBank operating expenses.

The effective tax rate was 20.5% for the second quarter of 2026, 19.0% for the first quarter of 2026 and 18.8% for the second quarter of 2025.

CONSOLIDATED BALANCE SHEET REVIEW


Loans							Change		Change
							2Q26 vs		2Q26 vs
In billions	2Q26		1Q26		2Q25		1Q26		2Q25





Average
Commercial and industrial	$	223.7	$	211.4	$	191.5	6	%	17	%
Commercial real estate	35.1		34.4		31.8		2	%	10	%
Commercial	$	258.8	$	245.7	$	223.4	5	%	16	%


Consumer	104.4		105.2		99.4		(1)	%	5	%
Average loans	$	363.2	$	350.9	$	322.8	4	%	13	%


Quarter end
Commercial and industrial	$	227.9	$	221.2	$	195.8	3	%	16	%
Commercial real estate	36.0		34.8		31.3		3	%	15	%
Commercial	$	263.9	$	256.0	$	227.0	3	%	16	%
Consumer	104.1		105.0		99.3		(1)	%	5	%


Total loans	$	368.0	$	360.9	$	326.3	2	%	13	%
Totals may not sum due to rounding

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 7

Average loans for the second quarter of 2026 increased $12.3 billion compared to the first quarter of 2026 and $40.4 billion compared to the second quarter of 2025.

Average commercial loans increased $13.0 billion and $35.4 billion compared to the first quarter of 2026 and the second quarter of 2025, respectively. In comparison to the first quarter of 2026, growth was driven by strong new production and increased utilization. Compared to the second quarter of 2025, the increase was attributable to strong new production as well as acquired FirstBank loans.

Average consumer loans decreased $0.7 billion compared to the first quarter of 2026, primarily due to declines in both residential mortgage and auto loans, partially offset by growth in credit card loans. Compared to the second quarter of 2025, average consumer loans increased $5.0 billion driven by the benefit of FirstBank loans.

Loans at June 30, 2026 increased $7.0 billion and $41.6 billion from March 31, 2026 and June 30, 2025, respectively. In each comparison, the increase included growth in commercial loans, reflecting strong new production. Compared to the second quarter of 2025, the increase was also attributable to acquired FirstBank commercial and consumer loans.


Average Investment Securities							Change		Change
							2Q26 vs		2Q26 vs
In billions	2Q26		1Q26		2Q25		1Q26		2Q25







Available for sale	$	73.7	$	71.6	$	67.8	3	%	9	%
Held to maturity	73.4		72.9		74.2		1	%	(1)	%
Total	$	147.1	$	144.5	$	141.9	2	%	4	%

Totals may not sum due to rounding

Average investment securities of $147.1 billion in the second quarter of 2026 increased $2.6 billion compared to the first quarter of 2026 and $5.2 billion compared to the second quarter of 2025. In both comparisons, the increase reflected higher residential mortgage-backed securities.

During the second quarter of 2026, PNC completed a repositioning of the investment securities portfolio, selling approximately $4 billion of available-for-sale securities with a weighted average yield of approximately 3.2%. The proceeds from the sale were then redeployed into an equivalent amount of investment securities with a weighted average yield of approximately 4.4%.

The duration of the investment securities portfolio was 3.6 years as of June 30, 2026 and March 31, 2026 and 3.4 years as of June 30, 2025. Net unrealized losses on available-for-sale securities were $2.1 billion at both June 30, 2026 and March 31, 2026 and $2.6 billion at June 30, 2025.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 8


Average Deposits										Change		Change
										2Q26 vs		2Q26 vs
In billions	2Q26			1Q26			2Q25			1Q26		2Q25

Commercial	$	228.2		$	229.6		$	205.8		(1)	%	11	%
Consumer	228.4			226.9			210.5			1	%	9	%
Brokered time deposits	0.4			1.9			6.7			(79)	%	(94)	%
Total	$	457.0		$	458.4		$	423.0		—		8	%







IB % of total avg. deposits	77		%	78		%	78		%
NIB % of total avg. deposits	23		%	22		%	22		%
IB - Interest-bearing NIB - Noninterest-bearing

Second quarter 2026 average deposits of $457.0 billion were stable compared to the first quarter of 2026, as higher consumer deposits were offset by both lower brokered time deposits and a seasonal decline in commercial deposits. Average deposits increased $34.0 billion compared to the second quarter of 2025 and included the addition of FirstBank deposits.

Average noninterest-bearing deposits as a percentage of total average deposits increased to 23% in the second quarter of 2026 from 22% in both the first quarter of 2026 and second quarter of 2025.


Average Borrowed Funds										Change		Change
										2Q26 vs		2Q26 vs
In billions	2Q26			1Q26			2Q25			1Q26		2Q25

Total	$	78.9		$	62.9		$	65.3		25	%	21	%


Avg. borrowed funds to avg. liabilities	14		%	12		%	13		%
Totals may not sum due to rounding

Average borrowed funds of $78.9 billion in the second quarter of 2026 increased $16.1 billion compared to the first quarter of 2026 and $13.6 billion compared to the second quarter of 2025. In both comparisons, the increase was primarily due to higher Federal Home Loan Bank advances.


Capital	June 30, 2026			March 31, 2026			June 30, 2025

Common shareholders’ equity In billions	$	58.1		$	57.8		$	51.9
Accumulated other comprehensive income (loss) In billions	$	(4.1)		$	(3.8)		$	(4.7)


Basel III common equity tier 1 capital ratio *	9.9		%	10.1		%	10.5		%



*June 30, 2026 ratio is estimated.

PNC maintained a strong capital position. Common shareholders’ equity at June 30, 2026 increased $0.3 billion from March 31, 2026 primarily due to net income, partially offset by dividends paid and share repurchases as well as a decline in accumulated other comprehensive income.

As a Category III institution, PNC has elected to exclude accumulated other comprehensive income related to both available-for-sale securities and pension and other post-retirement plans from CET1 capital. Accumulated other comprehensive income was negative $4.1 billion at June 30, 2026 compared to negative $3.8 billion at March 31,

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 9

2026 and negative $4.7 billion at June 30, 2025. The change in each comparison reflected the impact of interest rate movements on securities and swaps and the continued accretion of unrealized losses.

In the second quarter of 2026, PNC returned $1.3 billion of capital to shareholders, reflecting $0.7 billion of dividends on common shares and $0.6 billion of common share repurchases. The Stress Capital Buffer (SCB) framework permits capital return in amounts in excess of SCB minimum levels. Consistent with this framework, PNC had approximately 29% of the 100 million common shares still available for repurchase at June 30, 2026 under the repurchase program previously approved by our board of directors.

Share repurchase activity in the third quarter of 2026 is expected to approximate second quarter of 2026 share repurchase levels. PNC may adjust share repurchase activity depending on market and economic conditions, as well as other factors. PNC’s SCB will be maintained at the regulatory minimum of 2.5% through September 30, 2027.

On July 6, 2026, the PNC board of directors raised the quarterly cash dividend on common stock to $2.00 per share, an increase of 30 cents, or 18%. The dividend is payable on August 5, 2026 to shareholders of record at the close of business July 20, 2026.

At June 30, 2026, PNC was considered “well capitalized” based on applicable U.S. regulatory capital ratio requirements. For additional information regarding PNC’s Basel III capital ratios, see Capital Ratios in the Consolidated Financial Highlights.


CREDIT QUALITY REVIEW

Credit Quality										Change			Change
	June 30, 2026			March 31, 2026			June 30, 2025			06/30/26 vs			06/30/26 vs
In millions										03/31/26			06/30/25
Provision for credit losses (a)	$	191		$	210		$	254		$	(19)		$	(63)
Net loan charge-offs (a)	$	226		$	253		$	198		(11)		%	14		%


Allowance for credit losses (b)	$	5,461		$	5,495		$	5,282		(1)		%	3		%

Total delinquencies (c)	$	1,436		$	1,558		$	1,303		(8)		%	10		%
Nonperforming loans	$	2,027		$	2,243		$	2,108		(10)		%	(4)		%


Net charge-offs to average loans (annualized)	0.25		%	0.29		%	0.25		%


Allowance for credit losses to total loans	1.48		%	1.52		%	1.62		%
Nonperforming loans to total loans	0.55		%	0.62		%	0.65		%
(a) Represents amounts for the three months ended for each respective period (b) Excludes allowances for investment securities and other financial assets (c) Total delinquencies represent accruing loans 30 days or more past due

Provision for credit losses was $191 million in the second quarter of 2026 and reflected portfolio activity as well as updates to macroeconomic factors. Provision for credit losses was $210 million in the first quarter of 2026 and $254 million in the second quarter of 2025.

Net loan charge-offs were $226 million in the second quarter of 2026, decreasing $27 million compared to the first quarter of 2026. The decrease was primarily due to FirstBank acquired net loan charge-offs of $45 million recognized in the first quarter. Compared to the second quarter of 2025, net loan charge-offs increased $28 million primarily due to higher commercial loan net charge-offs.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 10

The allowance for credit losses was $5.5 billion at both June 30, 2026 and March 31, 2026 and $5.3 billion at June 30, 2025. The allowance for credit losses as a percentage of total loans was 1.48% at June 30, 2026, 1.52% at March 31, 2026 and 1.62% at June 30, 2025.

Delinquencies at June 30, 2026 were $1.4 billion, decreasing $122 million from March 31, 2026 due to lower commercial loan delinquencies. Compared to June 30, 2025, delinquencies increased $133 million due to higher consumer loan delinquencies.

Nonperforming loans of $2.0 billion at June 30, 2026 decreased $216 million compared to March 31, 2026 and $81 million compared to June 30, 2025. In both comparisons, the decrease was driven by lower commercial real estate nonperforming loans.


BUSINESS SEGMENT RESULTS

Business Segment Income (Loss)
In millions	2Q26		1Q26		2Q25
Retail Banking	$	1,747	$	1,349	$	1,386
Corporate & Institutional Banking	1,588		1,480		1,318
Asset Management Group	135		121		132
Other	(1,430)		(1,190)		(1,209)
Net income excluding noncontrolling interests	$	2,040	$	1,760	$	1,627


Retail Banking							Change		Change
							2Q26 vs		2Q26 vs
In millions	2Q26		1Q26		2Q25		1Q26		2Q25
Net interest income	$	3,291	$	3,237	$	3,010	$	54	$	281
Noninterest income	$	1,227	$	770	$	782	$	457	$	445
Noninterest expense	$	2,111	$	2,115	$	1,890	$	(4)	$	221
Provision for credit losses	$	120	$	124	$	83	$	(4)	$	37
Earnings	$	1,747	$	1,349	$	1,386	$	398	$	361

In billions
Brokerage account client assets	$	97	$	91	$	87	$	6	$	10

In billions
Average loans	$	110.5	$	110.9	$	97.5	$	(0.4)	$	13.0
Average deposits	$	271.6	$	268.2	$	243.5	$	3.4	$	28.1




Net loan charge-offs In millions	$	123	$	118	$	120	$	5	$	3

During the second quarter of 2026, PNC updated its internal funds transfer pricing methodology. The update resulted in impacts to net interest income and associated income statement line items for all business segments. Prior periods have been adjusted to conform with the current presentation.

Retail Banking Highlights

Second quarter 2026 compared with first quarter 2026

▪Earnings increased 30%, reflecting higher noninterest income and net interest income.

–Noninterest income increased 59% and included a gain of $448 million related to PNC’s participation in the Visa exchange program as well as the benefit of seasonally higher customer activity and positive residential mortgage servicing rights valuation, net of economic hedge. These increases were partially offset by Visa Class B-3 derivative fair value adjustments of negative $85 million.

–Noninterest expense was stable.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 11

•Brokerage account client assets increased 7%, driven by higher spot equity markets.

▪Average loans were stable.

▪Average deposits increased 1%, primarily due to higher noninterest-bearing and savings deposits.

Second quarter 2026 compared with second quarter 2025

▪Earnings increased 26%, driven by higher noninterest income and net interest income, partially offset by higher noninterest expense as well as a higher provision for credit losses.

–Noninterest income increased 57%, and included the second quarter of 2026 Visa exchange impacts and Visa class B-3 derivative fair value adjustments. The increase also reflects growth in client activity and the addition of FirstBank customers.

–Noninterest expense increased 12%, and included the impact of continued technology and branch investments as well as increased costs related to FirstBank.

•Brokerage account client assets increased 11%, driven by higher spot equity markets.

▪Average loans increased 13%, driven by higher commercial and residential real estate loans, primarily attributable to acquired FirstBank loans.

▪Average deposits increased 12% and included the benefit of acquired FirstBank deposits.


Corporate & Institutional Banking							Change		Change
							2Q26 vs		2Q26 vs
In millions	2Q26		1Q26		2Q25		1Q26		2Q25
Net interest income	$	1,992	$	1,942	$	1,814	$	50	$	178
Noninterest income	$	1,291	$	1,144	$	1,022	$	147	$	269
Noninterest expense	$	1,131	$	1,076	$	950	$	55	$	181
Provision for credit losses	$	76	$	77	$	184	$	(1)	$	(108)
Earnings	$	1,588	$	1,480	$	1,318	$	108	$	270

In billions
Average loans	$	236.1	$	223.5	$	208.6	$	12.6	$	27.5
Average deposits	$	158.6	$	161.2	$	146.5	$	(2.6)	$	12.1




Net loan charge-offs In millions	$	105	$	92	$	83	$	13	$	22

During the second quarter of 2026, PNC updated its internal funds transfer pricing methodology. The update resulted in impacts to net interest income and associated income statement line items for all business segments. Prior periods have been adjusted to conform with the current presentation.

Corporate & Institutional Banking Highlights

Second quarter 2026 compared with first quarter 2026

▪Earnings increased 7%, reflecting higher noninterest income and net interest income, partially offset by higher noninterest expense.

–Noninterest income increased 13%, driven by higher capital markets and advisory fees, including record merger and acquisition advisory activity.

–Noninterest expense increased 5%, reflecting higher variable compensation associated with increased business activity.

▪Average loans increased 6%, driven by strong new production and increased utilization of loan commitments.

▪Average deposits decreased 2%, reflecting seasonal declines in corporate deposits.

Second quarter 2026 compared with second quarter 2025

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 12

▪Earnings increased 20%, driven by higher noninterest income and net interest income as well as a lower provision for credit losses, partially offset by higher noninterest expense.

–Noninterest income increased 26%, primarily due to broad-based increases across the capital markets and advisory businesses and growth in treasury management product revenue.

–Noninterest expense increased 19%, reflecting higher variable compensation associated with increased business activity.

▪Average loans increased 13%, driven by strong new production within the commercial and industrial portfolio.

▪Average deposits increased 8%, due to growth in both interest-bearing and noninterest-bearing deposits.


Asset Management Group							Change		Change
							2Q26 vs		2Q26 vs
In millions	2Q26		1Q26		2Q25		1Q26		2Q25
Net interest income	$	191	$	193	$	184	$	(2)	$	7
Noninterest income	$	271	$	262	$	244	$	9	$	27
Noninterest expense	$	289	$	292	$	268	$	(3)	$	21
Provision for (recapture of) credit losses	$	(3)	$	5	$	(13)	$	(8)	$	10
Earnings	$	135	$	121	$	132	$	14	$	3

In billions
Discretionary client AUM	$	247	$	230	$	217	$	17	$	30
Nondiscretionary client AUM	$	256	$	233	$	204	$	23	$	52
Client AUM at quarter end	$	503	$	463	$	421	$	40	$	82


In billions
Average loans	$	14.6	$	14.4	$	14.2	$	0.2	$	0.4
Average deposits	$	27.0	$	27.7	$	26.9	$	(0.7)	$	0.1




Net loan charge-offs (recoveries) In millions	$	1	—		$	(1)	$	1	$	2

AUM - Assets under management
During the second quarter of 2026, PNC updated its internal funds transfer pricing methodology. The update resulted in impacts to net interest income and associated income statement line items for all business segments. Prior periods have been adjusted to conform with the current presentation.

Asset Management Group Highlights

Second quarter 2026 compared with first quarter 2026

▪Earnings increased 12%, due to higher noninterest income, a provision recapture and lower noninterest expense, partially offset by a modest decline in net interest income.

–Noninterest income increased 3%, reflecting higher average equity markets.

–Noninterest expense decreased 1%.

▪Discretionary client AUM increased 7%, driven by higher spot equity markets and positive net flows.

▪Nondiscretionary client AUM increased 10%, driven by higher spot equity markets.

▪Average loans increased 1%, primarily due to growth in securities-based lending.

▪Average deposits decreased 3%, driven by the timing of annual client income tax payments.

Second quarter 2026 compared with second quarter 2025

▪Earnings increased 2%, due to higher noninterest income and net interest income, partially offset by higher noninterest expense and a lower provision recapture.

–Noninterest income increased 11%, reflecting higher average equity markets and positive net flows.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 13

–Noninterest expense increased 8%, and included continued investments to support business growth as well as higher variable compensation associated with increased business activity.

▪Discretionary client AUM increased 14% and nondiscretionary client AUM increased 25%. In both instances, the increase was driven by higher spot equity markets and positive net flows.

▪Average loans increased 3%, primarily due to growth in securities-based lending and higher commercial loan balances.

▪Average deposits were stable.

Other

The “Other” category, for the purposes of this release, includes remaining corporate operations that do not meet the criteria for disclosure as a separate reportable business, such as asset and liability management activities, including net securities gains or losses, ACL for investment securities, certain trading activities, certain runoff consumer loan portfolios, private equity investments, intercompany eliminations, corporate overhead net of allocations, tax adjustments that are not allocated to business segments, exited businesses and the residual impact from funds transfer pricing operations.

CONFERENCE CALL AND SUPPLEMENTAL FINANCIAL INFORMATION

PNC Chairman and Chief Executive Officer William S. Demchak and Executive Vice President and Chief Financial Officer Robert Q. Reilly will hold a conference call for investors today at 10:00 a.m. Eastern Time regarding the topics addressed in this news release and the related earnings materials. Dial-in numbers for the conference call are (866) 604-1697 and (215) 268-9875 (international) and Internet access to the live audio listen-only webcast of the call is available at www.pnc.com/investorevents. PNC’s second quarter 2026 earnings materials to accompany the conference call remarks will be available at www.pnc.com/investorevents prior to the beginning of the call. A telephone replay of the call will be available for four weeks at (877) 660-6853 and (201) 612-7415 (international), Access ID 13760708 and a replay of the audio webcast will be available on PNC’s website for 30 days.

The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.


CONTACTS

MEDIA:						INVESTORS:
Anne Pace						Bryan Gill
(631) 338-3268						(412) 768-4143
[email protected]						[email protected]

[TABULAR MATERIAL FOLLOWS]

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 14


The PNC Financial Services Group, Inc.	Consolidated Financial Highlights (Unaudited)

FINANCIAL RESULTS		Three months ended									Six months ended
Dollars in millions, except per share data		June 30			March 31			June 30			June 30			June 30
		2026			2026			2025			2026			2025
Revenue
Net interest income		$	4,107		$	3,961		$	3,555		$	8,068		$	7,031
Noninterest income		2,768			2,204			2,106			4,972			4,082
Total revenue		6,875			6,165			5,661			13,040			11,113
Provision for credit losses		191			210			254			401			473
Noninterest expense		4,098			3,768			3,383			7,866			6,770
Income before income taxes and noncontrolling interests		$	2,586		$	2,187		$	2,024		$	4,773		$	3,870
Income taxes		531			415			381			946			728




Net income		$	2,055		$	1,772		$	1,643		$	3,827		$	3,142
Less:
Net income attributable to noncontrolling interests		15			12			16			27			34
Preferred stock dividends (a)		85			73			83			158			154
Preferred stock discount accretion and redemptions		2			1			2			3			4
Net income attributable to common shareholders		$	1,953		$	1,686		$	1,542		$	3,639		$	2,950
Less: Dividends and undistributed earnings allocated to nonvested restricted shares		12			11			10			23			19
Net income attributable to diluted common shareholders		$	1,941		$	1,675		$	1,532		$	3,616		$	2,931
Per Common Share
Basic		$	4.82		$	4.13		$	3.86		$	8.95		$	7.37


Diluted		$	4.81		$	4.13		$	3.85		$	8.94		$	7.37


Cash dividends declared per common share		$	1.70		$	1.70		$	1.60		$	3.40		$	3.20
Effective tax rate (b)		20.5		%	19.0		%	18.8		%	19.8		%	18.8		%
PERFORMANCE RATIOS
Net interest margin (c)		2.96		%	2.95		%	2.80		%	2.96		%	2.79		%
Noninterest income to total revenue		40		%	36		%	37		%	38		%	37		%
Efficiency (d)		60		%	61		%	60		%	60		%	61		%
Return on:
Average common shareholders' equity		13.61		%	11.92		%	12.20		%	12.77		%	11.91		%
Average assets		1.34		%	1.19		%	1.17		%	1.27		%	1.13		%

(a)Dividends are payable quarterly, other than Series S preferred stock, which is payable semiannually.

(b)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.

(c)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 generally accepted accounting principles (GAAP) in the Consolidated Income Statement. The taxable-equivalent adjustments to net interest income for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025 were $27 million, $29 million and $28 million, respectively. The taxable-equivalent adjustments to net interest income for both the six months ended June 30, 2026 and 2025 were $56 million.

(d)Calculated as noninterest expense divided by total revenue.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 15


The PNC Financial Services Group, Inc.	Consolidated Financial Highlights (Unaudited)

	June 30			March 31			June 30
	2026			2026			2025
BALANCE SHEET DATA
Dollars in millions, except per share data and as noted
Assets	$	616,034		$	603,028		$	559,107
Loans (a)	$	367,953		$	360,923		$	326,340
Allowance for loan and lease losses	$	4,652		$	4,663		$	4,523
Interest-earning deposits with banks	$	22,794		$	26,053		$	24,455
Investment securities	$	149,506		$	143,112		$	142,348








Total deposits (a)	$	449,792		$	457,648		$	426,696
Borrowed funds (a)	$	85,723		$	66,666		$	60,424
Allowance for unfunded lending related commitments	$	809		$	832		$	759
Total shareholders' equity	$	64,008		$	63,627		$	57,607
Common shareholders' equity	$	58,131		$	57,752		$	51,854
Accumulated other comprehensive income (loss)	$	(4,120)		$	(3,773)		$	(4,682)
Book value per common share	$	145.52		$	143.65		$	131.61
Tangible book value per common share (non-GAAP) (b)	$	111.09		$	109.42		$	103.96
Period end common shares outstanding (In millions)	399			402			394
Loans to deposits	82		%	79		%	76		%
Common shareholders' equity to total assets	9.4		%	9.6		%	9.3		%
CLIENT ASSETS (In billions)
Discretionary client assets under management	$	247		$	230		$	217
Nondiscretionary client assets under administration	256			233			204
Total client assets under administration	503			463			421
Brokerage account client assets	99			93			89
Total client assets	$	602		$	556		$	510
CAPITAL RATIOS
Basel III (c)
Common equity tier 1	9.9		%	10.1		%	10.5		%

Tier 1 risk-based	11.1		%	11.3		%	11.8		%
Total capital risk-based	12.9		%	13.1		%	13.6		%
Leverage	9.0		%	9.1		%	9.3		%
Supplementary leverage	7.2		%	7.4		%	7.6		%
ASSET QUALITY
Nonperforming loans to total loans	0.55		%	0.62		%	0.65		%
Nonperforming assets to total loans, OREO, foreclosed and other assets (d)	0.58		%	0.66		%	0.66		%
Nonperforming assets to total assets	0.35		%	0.40		%	0.38		%
Net charge-offs to average loans (for the three months ended) (annualized)	0.25		%	0.29		%	0.25		%
Allowance for loan and lease losses to total loans	1.26		%	1.29		%	1.39		%
Allowance for credit losses to total loans (e)	1.48		%	1.52		%	1.62		%
Allowance for loan and lease losses to nonperforming loans	230		%	208		%	215		%
Total delinquencies (In millions) (f)	$	1,436		$	1,558		$	1,303

(a)Amounts include assets and liabilities for which we have elected the fair value option. Our first quarter 2026 Form 10-Q included, and our second quarter 2026 Form 10-Q will include, additional information regarding these Consolidated Balance Sheet line items.

(b)See the Tangible Book Value per Common Share table on page 19 for additional information.

(c)All ratios are calculated using the regulatory capital methodology applicable to PNC during each period presented and calculated based on the standardized approach. See Capital Ratios on page 16 for additional information. The ratios as of June 30, 2026 are estimated.

(d)Amounts include nonaccrual servicing advances primarily to single asset/single borrower trusts with commercial real estate as collateral totaling $90 million and $103 million at June 30, 2026 and March 31, 2026, respectively.

(e)Excludes allowances for investment securities and other financial assets.

(f)Total delinquencies represent accruing loans 30 days or more past due.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 16

The PNC Financial Services Group, Inc. Consolidated Financial Highlights (Unaudited)

CAPITAL RATIOS

PNC's regulatory risk-based capital ratios in 2026 are calculated using the standardized approach for determining risk-weighted assets. Under the standardized approach for determining credit risk-weighted assets, exposures are generally assigned a pre-defined risk weight. Exposures to high volatility commercial real estate, past due exposures and equity exposures are generally subject to higher risk weights than other types of exposures.

Our Basel III capital ratios may be impacted by changes to the regulatory capital rules and additional regulatory guidance or analysis. The following table summarizes our March 31, 2026, June 30, 2025 and estimated June 30, 2026 capital balances and ratios.


Basel lll Common Equity Tier 1 Capital Ratios
	Basel III
	June 30 2026 (estimated)			March 31 2026			June 30 2025

Dollars in millions
Common stock, related surplus and retained earnings, net of treasury stock	$	62,249		$	61,523		$	56,536
Less regulatory capital adjustments:
Goodwill and disallowed intangibles, net of deferred tax liabilities	(13,752)			(13,757)			(10,896)
All other adjustments	(84)			(80)			(81)
Basel III Common equity tier 1 capital	$	48,413		$	47,686		$	45,559
Basel III standardized approach risk-weighted assets (a)	$	487,609		$	472,981		$	433,190
Basel III Common equity tier 1 capital ratio	9.9		%	10.1		%	10.5		%

(a)Basel III standardized approach risk-weighted assets are based on the Basel III standardized approach rules and include credit and market risk-weighted assets.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 17

The PNC Financial Services Group, Inc. Consolidated Financial Highlights (Unaudited)

NON-GAAP MEASURES


Fee Income (non-GAAP)	Three months ended
	June 30		March 31		June 30
Dollars in millions	2026		2026		2025
Noninterest income
Asset management and brokerage	$	440	$	420	$	391
Capital markets and advisory	577		463		321
Card and cash management	772		738		737
Lending and deposit services	346		340		317
Residential and commercial mortgage	144		118		128
Fee income (non-GAAP)	$	2,279	$	2,079	$	1,894
Other income	489		125		212
Total noninterest income	$	2,768	$	2,204	$	2,106

Fee income is a non-GAAP measure and is comprised of noninterest income in the following categories: asset management and brokerage, capital markets and advisory, card and cash management, lending and deposit services, and residential and commercial mortgage. We believe this non-GAAP measure serves as a useful tool for comparison of noninterest income related to fees.


Pretax Pre-Provision Earnings (non-GAAP)	Three months ended
	June 30		March 31		June 30
Dollars in millions	2026		2026		2025
Income before income taxes and noncontrolling interests	$	2,586	$	2,187	$	2,024
Provision for credit losses	191		210		254
Pretax pre-provision earnings (non-GAAP)	$	2,777	$	2,397	$	2,278

Pretax pre-provision earnings is a non-GAAP measure and is based on adjusting income before income taxes and noncontrolling interests to exclude provision for credit losses. We believe that pretax, pre-provision earnings is a useful tool to help evaluate the ability to provide for credit costs through operations and provides an additional basis to compare results between periods by isolating the impact of provision for credit losses, which can vary significantly between periods.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 18

The PNC Financial Services Group, Inc. Consolidated Financial Highlights (Unaudited)


Noninterest Expense Excluding Integration Costs and 2Q26 Significant Items (non-GAAP) Noninterest Income Excluding Integration Costs and 2Q26 Significant Items (non-GAAP)
	Three months ended								Three months ended
	June 30		March 31		Change					June 30		June 30		Change
Dollars in millions	2026		2026		$		%			2026		2025		$		%
Noninterest expense	$	4,098	$	3,768	$	330	9	%		$	4,098	$	3,383	$	715	21	%


Contribution to PNC Foundation	(140)		—							(140)		—
Integration costs	(121)		(97)							(121)		—

Noninterest expense excluding integration costs and 2Q26 significant items (non-GAAP)	$	3,837	$	3,671	$	166	5	%		$	3,837	$	3,383	$	454	13	%






Noninterest income	$	2,768	$	2,204	$	564	26	%		$	2,768	$	2,106	$	662	31	%




Gain on exchange of Visa Class B-2 shares	448		—							448		—
Visa Class B-3 derivative fair value adjustments	(85)		—							(85)		—
Loss on sale of securities	(139)		—							(139)		—
Integration costs	(6)		(1)							(6)		—

Noninterest income excluding integration costs and 2Q26 significant items (non-GAAP)	$	2,550	$	2,205	$	345	16	%		$	2,550	$	2,106	$	444	21	%

Pretax, pre-provision impact of integration costs and 2Q26 significant items	$	(43)	$	(98)						$	(43)	$	—
Income taxes (benefit) (a)	(28)		(21)							(28)		—
After tax impact of integration costs and 2Q26 significant items	$	(15)	$	(77)						$	(15)	$	—

(a)Income taxes on integration costs and 2Q26 significant items are calculated at a statutory tax rate of 21% on pretax, pre-provision earnings. Significant items tax impact also includes the benefit of shares donated to the PNC Foundation.

Noninterest expense excluding integration costs and 2Q26 significant items is a non-GAAP measure and is based on adjusting noninterest expense to exclude integration costs related to the FirstBank acquisition and 2Q26 significant items during the period. The 2Q26 significant items are described in the Integration Costs and 2Q26 Significant Items section on page 2. We believe this non-GAAP measure to be a useful tool for comparison of operating expenses incurred during the normal course of business. The exclusion of integration costs and 2Q26 significant items increases comparability across periods, demonstrates the impact of significant items and provides a useful measure for determining PNC’s expenses that are core to our business operations and expected to recur over time.

Noninterest income excluding integration costs and 2Q26 significant items is a non-GAAP measure and is based on adjusting noninterest income to exclude integration costs related to the FirstBank acquisition and 2Q26 significant items during the period. The 2Q26 significant items are described in the Integration Costs and 2Q26 Significant Items section on page 2. We believe this non-GAAP measure to be a useful tool for comparison of noninterest income earned during the normal course of business. The exclusion of integration costs and 2Q26 significant items increases comparability across periods, demonstrates the impact of significant items and provides a useful measure for determining PNC’s noninterest income generating activities that are core to our business operations and expected to recur over time.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 19

The PNC Financial Services Group, Inc. Consolidated Financial Highlights (Unaudited)


Adjusted Diluted Earnings per Common Share Excluding Integration Costs and 2Q26 Significant Items (non-GAAP)
	Three months ended
	June 30		Per Common		March 31		Per Common
Dollars in millions, except per share data	2026		Share		2026		Share


Net income attributable to diluted common shareholders	$	1,941	$	4.81	$	1,675	$	4.13










After tax impact of integration costs and 2Q26 significant items	15		0.04		77		0.19
Adjusted net income attributable to diluted common shareholders excluding integration costs and 2Q26 significant items (non-GAAP)	$	1,956	$	4.85	$	1,752	$	4.32
Average diluted common shares outstanding (In millions)	403				405

The adjusted diluted earnings per common share excluding integration costs and 2Q26 significant items is a non-GAAP measure and excludes integration costs related to the FirstBank acquisition and 2Q26 significant items during the period. It is calculated based on adjusting net income attributable to diluted common shareholders by removing post-tax effects of integration costs and 2Q26 significant items in the period. The 2Q26 significant items are described in the Integration Costs and 2Q26 Significant Items section on page 2. We believe this non-GAAP measure serves as a useful tool in understanding PNC's results by providing greater comparability between periods, as well as demonstrating the effect of significant items.


Tangible Book Value per Common Share (non-GAAP)
	June 30		March 31		June 30
Dollars in millions, except per share data	2026		2026		2025
Book value per common share	$	145.52	$	143.65	$	131.61
Tangible book value per common share
Common shareholders' equity	$	58,131	$	57,752	$	51,854
Goodwill and other intangible assets	(14,161)		$	(14,174)	(11,137)
Deferred tax liabilities on goodwill and other intangible assets	408		416		242
Tangible common shareholders' equity	$	44,378	$	43,994	$	40,959
Period-end common shares outstanding (In millions)	399		402		394
Tangible book value per common share (non-GAAP)	$	111.09	$	109.42	$	103.96

Tangible book value per common share is a non-GAAP measure and is calculated based on tangible common shareholders' equity divided by period-end common shares outstanding. We believe this non-GAAP measure serves as a useful tool to help evaluate the strength and discipline of a company’s capital management strategies and as an additional, conservative measure of total company value.


Return on Average Tangible Common Equity (non-GAAP)	Three months ended
	June 30			March 31			June 30
Dollars in millions	2026			2026			2025
Return on average common shareholders' equity	13.61		%	11.92		%	12.20		%
Return on average tangible common equity
Average common shareholders' equity	$	57,556		$	57,382		$	50,676
Average goodwill and other intangible assets	(14,162)			(14,056)			(11,145)
Average deferred tax liabilities on goodwill and other intangible assets	412			327			241
Average tangible common shareholders' equity	$	43,806		$	43,653		$	39,772
Net income attributable to common shareholders	$	1,953		$	1,686		1,542
Net income attributable to common shareholders, annualized	$	7,833		$	6,838		$	6,185
Return on average tangible common equity (non-GAAP)	17.88		%	15.66		%	15.55		%

Return on average tangible common equity is a non-GAAP measure and is calculated based on annualized net income attributable to common shareholders divided by tangible common equity. We believe this non-GAAP measure serves as a useful tool to help measure and assess a company's use of common equity.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 20

The PNC Financial Services Group, Inc. Consolidated Financial Highlights (Unaudited)


Taxable-Equivalent Net Interest Income (non-GAAP)	Three months ended
	June 30		March 31		June 30
Dollars in millions	2026		2026		2025
Net interest income	$	4,107	$	3,961	$	3,555
Taxable-equivalent adjustments	27		29		28
Net interest income (Fully Taxable-Equivalent - FTE) (non-GAAP)	$	4,134	$	3,990	$	3,583

The interest income earned on certain earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments. To provide more meaningful comparisons of net interest income, we use 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. This adjustment is not permitted under GAAP. Taxable-equivalent net interest income is only used for calculating net interest margin. Net interest income shown elsewhere in this presentation is GAAP net interest income.

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PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 21

Cautionary Statement Regarding Forward-Looking Information

We make statements in this news release and related conference call, and we may from time to time make other statements, regarding our outlook for financial performance, such as earnings, revenues, expenses, tax rates, capital and liquidity levels and ratios, asset levels, asset quality, financial position, and other matters regarding or affecting us and our future business and operations, including our sustainability strategy, 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,” “see,” “look,” “intend,” “outlook,” “project,” “forecast,” “estimate,” “goal,” “will,” “should” and other similar words and expressions.

Forward-looking statements are necessarily subject to numerous assumptions, risks and uncertainties, which change over time. Future events or circumstances may change our outlook and may also affect the nature of the assumptions, risks and uncertainties to which our forward-looking statements are subject. Forward-looking statements speak only as of the date made. We do not assume any duty and do not undertake any obligation to update forward-looking statements. Actual results or future events could differ, possibly materially, from those anticipated in forward-looking statements, as well as from historical performance. As a result, we caution against placing undue reliance on any forward-looking statements.

Our forward-looking statements are subject to the following principal risks and uncertainties.

▪Our businesses, financial results and balance sheet values are affected by business and economic conditions, including:

–Changes in interest rates and valuations in debt, equity and other financial markets,

–Disruptions in the U.S. and global financial markets,

–Actions by the Federal Reserve Board, U.S. Treasury and other government agencies, including those that impact money supply, market interest rates and inflation,

–Changes in customer behavior due to changing business and economic conditions or legislative or regulatory initiatives,

–Changes in customers’, suppliers’ and other counterparties’ performance and creditworthiness,

–Impacts of sanctions, tariffs and other trade policies of the U.S. and its global trading partners,

–Impacts of changes in federal, state and local governmental policy, including on the regulatory landscape, capital markets, taxes, infrastructure spending and social programs,

–Our ability to attract, recruit and retain skilled employees, and

–Commodity price volatility.

▪Our forward-looking financial statements are subject to the risk that economic and financial market conditions will be substantially different than those we are currently expecting. These statements are based on our views that:

–PNC’s baseline forecast remains for continued expansion in 2026, with economic growth expected to remain resilient despite oil prices that are up from early 2026, supported by strong AI-related capex, tax refunds, and an improving labor market. We expect real GDP growth of 2.1% in 2026, with continued modest job gains and the unemployment rate holding roughly steady, ending the year at around 4.3%. Inflation risks have eased somewhat but we still expect inflation to remain elevated, with CPI inflation staying above 3% through year-end. Risks to our growth and inflation outlook include a sudden reversal in AI-related sentiment, which would have knock-on effects on both capex and wealth-driven consumer spending, as well as any further sharp rise in oil prices.

–Our baseline forecast is for the Federal Reserve to keep the federal funds rate unchanged throughout 2026 and into 2027, in a range between 3.50% and 3.75%. However, risks remain skewed toward tighter monetary policy given persistent above-target inflation and inflationary pressures from higher energy prices and continued strength in capital spending.

▪PNC’s ability to take certain capital actions, including returning capital to shareholders, is subject to PNC meeting or exceeding minimum capital levels, including a stress capital buffer established by the Federal Reserve Board in connection with the Federal Reserve Board’s Comprehensive Capital Analysis and Review (CCAR) process.

- more -

PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 As Adjusted – Page 22

Cautionary Statement Regarding Forward-Looking Information (Continued)

▪PNC's regulatory capital ratios in the future will depend on, among other things, PNC’s financial performance,

the scope and terms of final capital regulations then in effect and management actions affecting the

composition of PNC’s balance sheet. In addition, PNC’s ability to determine, evaluate and forecast regulatory

capital ratios, and to take actions (such as capital distributions) based on actual or forecasted capital ratios,

will be dependent at least in part on the development, validation and regulatory review of related models and

the reliability of and risks resulting from extensive use of such models.

▪Legal and regulatory developments could have an impact on our ability to operate our businesses, financial condition, results of operations, competitive position, reputation, or pursuit of attractive acquisition opportunities. Reputational impacts could affect matters such as business generation and retention, liquidity, funding, and ability to attract and retain employees. These developments could include:

–Changes to laws and regulations, including changes affecting oversight of the financial services industry, changes in the enforcement and interpretation of such laws and regulations, and changes in accounting and reporting standards.

–Unfavorable resolution of legal proceedings or other claims and regulatory and other governmental investigations or other inquiries resulting in monetary losses, costs, or alterations in our business practices, and potentially causing reputational harm to PNC.

–Results of the regulatory examination and supervision process, including our failure to satisfy requirements of agreements with governmental agencies.

–Costs associated with obtaining rights in intellectual property claimed by others and of adequacy of our intellectual property protection in general.

▪Business and operating results are affected by our ability to identify and effectively manage risks inherent in our businesses, including, where appropriate, through effective use of systems and controls, third-party insurance, derivatives, and capital management techniques, and to meet evolving regulatory capital and liquidity standards.

▪Our reputation and business and operating results may be affected by our ability to appropriately meet or address environmental, social or governance targets, goals, commitments or concerns that may arise.

▪We grow our business in part through acquisitions and new strategic initiatives. Risks and uncertainties include those presented by the nature of the business acquired and strategic initiative, including in some cases those associated with our entry into new businesses or new geographic or other markets and risks resulting from our inexperience in those new areas, as well as risks and uncertainties related to the acquisition transactions themselves, regulatory issues, the integration of the acquired businesses into PNC after closing or any failure to execute strategic or operational plans.

▪Competition can have an impact on customer acquisition, growth and retention and on credit spreads and product pricing, which can affect market share, deposits and revenues. Our ability to anticipate and respond to technological changes can also impact our ability to respond to customer needs and meet competitive demands.

▪Business and operating results can also be affected by widespread manmade, natural and other disasters (including severe weather events), health emergencies, dislocations, geopolitical instabilities or events, terrorist activities, system failures or disruptions, security breaches, cyberattacks, international hostilities, or other extraordinary events beyond PNC’s control through impacts on the economy and financial markets generally or on us or our counterparties, customers or third-party vendors and service providers specifically.

We provide greater detail regarding these as well as other factors in our most recent Form 10-K and in any subsequent Form 10-Qs, including in the Risk Factors and Risk Management sections and the Legal Proceedings and Commitments Notes of the Notes To Consolidated Financial Statements in those reports, and in our other subsequent SEC filings. Our forward-looking statements may also be subject to other risks and uncertainties, including those we may discuss elsewhere in this news release or in our SEC filings, accessible on the SEC’s website at www.sec.gov and on 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.

###

Exhibit 99.2

THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2026

(Unaudited)

THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2026

(UNAUDITED)


Consolidated Results:			Page
Income Statement			1
Balance Sheet			2
Average Balance Sheet			3
Details of Net Interest Margin			4

Loans			5
Allowance for Credit Losses			6-7
Nonperforming Assets			8
Accruing Loans Past Due			9-10

Business Segment Results:
Descriptions			11
Period End Employees			11
Net Income and Revenue			12
Retail Banking			13-14
Corporate & Institutional Banking			15-16
Asset Management Group			17

Glossary of Terms			18-19

The information contained in this Financial Supplement is preliminary, unaudited and based on data available on July 15, 2026. 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, corporate and institutional banking and asset management, providing many of its products and services nationally. PNC's retail branch network is located coast-to-coast. PNC also has strategic international offices in four countries outside the U.S.

ACQUISITION OF FIRSTBANK HOLDING COMPANY

On January 5, 2026, PNC completed its acquisition of FirstBank Holding Company, including its banking subsidiary FirstBank. At close, FirstBank had $26 billion of assets, $16 billion of loans and $23 billion of deposits. Effective January 5, 2026, FirstBank’s financial results are included in PNC’s consolidated operations.

As of June 22, 2026, PNC converted approximately 780,000 customers, more than 1,600 employees and 95 branches across Colorado and Arizona, merging FirstBank into PNC Bank. Our first quarter 2026 Form 10-Q included additional information on this acquisition.


THE PNC FINANCIAL SERVICES GROUP, INC.
Cross Reference Index to Second Quarter 2026 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	Details of Loans	5
6	Change in Allowance for Loan and Lease Losses	6
7	Components of the Provision for Credit Losses	7
8	Allowance for Credit Losses by Loan Class	7
9	Nonperforming Assets by Type	8
10	Change in Nonperforming Assets	8
11	Accruing Loans Past Due 30 to 59 Days	9
12	Accruing Loans Past Due 60 to 89 Days	9
13	Accruing Loans Past Due 90 Days or More	10
14	Period End Employees	11
15	Summary of Business Segment Net Income and Revenue	12
16	Retail Banking	13-14
17	Corporate & Institutional Banking	15-16
18	Asset Management Group	17


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	2026			2026			2025			2025			2025			2026			2025
Interest Income
Loans	$	4,986		$	4,792		$	4,640		$	4,751		$	4,609		$	9,778		$	9,081
Investment securities	1,263			1,202			1,188			1,211			1,151			2,465			2,275
Other	445			450			552			565			510			895			1,044
Total interest income	6,694			6,444			6,380			6,527			6,270			13,138			12,400
Interest Expense
Deposits	1,682			1,735			1,864			1,980			1,845			3,417			3,653
Borrowed funds	905			748			785			899			870			1,653			1,716
Total interest expense	2,587			2,483			2,649			2,879			2,715			5,070			5,369
Net interest income	4,107			3,961			3,731			3,648			3,555			8,068			7,031
Noninterest Income
Asset management and brokerage	440			420			411			404			391			860			782
Capital markets and advisory	577			463			489			432			321			1,040			627
Card and cash management	772			738			733			737			737			1,510			1,429
Lending and deposit services	346			340			342			335			317			686			633
Residential and commercial mortgage	144			118			148			161			128			262			262
Other income
Gain on Visa shares exchange program	448			—			—			—			—			448			—
Securities gains (losses)	(139)			28			(7)			—			—			(111)			(2)
Other (a)	180			97			224			198			212			277			351
Total other income	489			125			217			198			212			614			349
Total noninterest income	2,768			2,204			2,340			2,267			2,106			4,972			4,082
Total revenue	6,875			6,165			6,071			5,915			5,661			13,040			11,113
Provision For Credit Losses	191			210			139			167			254			401			473
Noninterest Expense
Personnel	2,273			2,106			2,033			1,970			1,889			4,379			3,779
Occupancy	252			262			247			235			235			514			480
Equipment	435			415			412			416			394			850			778
Marketing	110			87			101			93			99			197			184
Other	1,028			898			810			747			766			1,926			1,549
Total noninterest expense	4,098			3,768			3,603			3,461			3,383			7,866			6,770
Income before income taxes and noncontrolling interests	2,586			2,187			2,329			2,287			2,024			4,773			3,870
Income taxes	531			415			296			465			381			946			728




Net income	2,055			1,772			2,033			1,822			1,643			3,827			3,142
Less: Net income attributable to noncontrolling interests	15			12			13			14			16			27			34
Preferred stock dividends (b)	85			73			83			71			83			158			154
Preferred stock discount accretion and redemptions	2			1			3			2			2			3			4
Net income attributable to common shareholders	$	1,953		$	1,686		$	1,934		$	1,735		$	1,542		$	3,639		$	2,950
Earnings Per Common Share
Basic	$	4.82		$	4.13		$	4.88		$	4.36		$	3.86		$	8.95		$	7.37


Diluted	$	4.81		$	4.13		$	4.88		$	4.35		$	3.85		$	8.94		$	7.37


Average Common Shares Outstanding
Basic	403			405			394			396			397			404			398
Diluted	403			405			394			396			397			404			398
Efficiency	60		%	61		%	59		%	59		%	60		%	60		%	61		%
Noninterest income to total revenue	40		%	36		%	39		%	38		%	37		%	38		%	37		%
Effective tax rate (c)	20.5		%	19.0		%	12.7		%	20.3		%	18.8		%	19.8		%	18.8		%

(a)Includes Visa derivative fair value adjustments of $(85) million, $(32) million, $(41) million, $(35) million and $2 million for the quarters ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025 and $(117) million and $(38) million for the six months ended June 30, 2026 and June 30, 2025, respectively. These adjustments are primarily related to escrow funding and the extension of anticipated litigation resolution timing.

(b)Dividends are payable quarterly, other than Series S preferred stock, which is payable semiannually.

(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.


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	2026		2026		2025		2025		2025
Assets
Cash and due from banks	$	5,951	$	5,646	$	6,777	$	5,553	$	5,939
Interest-earning deposits with banks (a)	22,794		26,053		32,936		33,318		24,455
Loans held for sale (b)	1,522		1,332		1,939		1,104		1,837
Investment securities – available-for-sale	71,100		71,072		68,135		68,297		67,136
Investment securities – held-to-maturity	78,406		72,040		70,105		73,226		75,212
Loans (b)	367,953		360,923		331,481		326,616		326,340
Allowance for loan and lease losses	(4,652)		(4,663)		(4,410)		(4,478)		(4,523)
Net loans	363,301		356,260		327,071		322,138		321,817
Equity investments	11,735		10,512		10,790		9,972		9,755
Mortgage servicing rights	3,801		3,816		3,659		3,627		3,467
Goodwill	13,317		13,282		10,959		10,962		10,932
Other (b)	44,107		43,015		41,201		40,570		38,557
Total assets	$	616,034	$	603,028	$	573,572	$	568,767	$	559,107
Liabilities
Deposits
Noninterest-bearing	$	99,356	$	99,297	$	91,748	$	91,207	$	93,253
Interest-bearing (b)	350,436		358,351		349,118		341,542		333,443
Total deposits	449,792		457,648		440,866		432,749		426,696
Borrowed funds
Federal Home Loan Bank advances	40,416		21,417		13,000		16,100		18,000
Senior debt	38,144		38,021		38,642		38,695		35,750
Subordinated debt	4,396		4,502		3,016		3,512		3,490
Other (b)	2,767		2,726		2,443		4,037		3,184
Total borrowed funds	85,723		66,666		57,101		62,344		60,424
Allowance for unfunded lending related commitments	809		832		818		775		759
Accrued expenses and other liabilities (b)	15,649		14,206		14,151		13,861		13,573
Total liabilities	551,973		539,352		512,936		509,729		501,452
Equity
Preferred stock (c)	—		—		—		—		—
Common stock - $5 par value
Authorized 800,000,000 shares, issued 557,291,838; 557,213,012; 543,497,966; 543,412,079 and 543,412,101 shares	2,786		2,786		2,717		2,717		2,717
Capital surplus	21,999		21,926		18,922		18,859		18,809
Retained earnings	65,518		64,256		63,266		62,008		60,951
Accumulated other comprehensive income (loss)	(4,120)		(3,773)		(3,408)		(4,077)		(4,682)
Common stock held in treasury at cost: 157,826,113; 155,167,491; 153,084,091; 151,030,533 and 149,426,326 shares	(22,175)		(21,568)		(20,912)		(20,517)		(20,188)
Total shareholders’ equity	64,008		63,627		60,585		58,990		57,607
Noncontrolling interests	53		49		51		48		48
Total equity	64,061		63,676		60,636		59,038		57,655
Total liabilities and equity	$	616,034	$	603,028	$	573,572	$	568,767	$	559,107

(a)Amounts include balances held with the Federal Reserve Bank of $22.2 billion, $25.3 billion, $32.0 billion, $32.7 billion and $23.9 billion as of June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, respectively.

(b)Amounts include assets and liabilities for which PNC has elected the fair value option. Our first quarter 2026 Form 10-Q included, and our second quarter 2026 Form 10-Q will include, additional information regarding these items.

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


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 3


Table 3: Average Consolidated Balance Sheet (Unaudited) (a) (b)
	Three months ended										Six months ended
	June 30		March 31		December 31		September 30		June 30		June 30		June 30
In millions	2026		2026		2025		2025		2025		2026		2025
Assets
Interest-earning assets:
Investment securities
Securities available-for-sale
Residential mortgage-backed	$	37,333	$	34,652	$	33,564	$	34,752	$	34,567	$	36,000	$	34,182
U.S. Treasury and government agencies	27,972		28,491		28,119		26,799		25,372		28,230		24,880
Other	8,407		8,505		8,202		8,293		7,818		8,456		7,663
Total securities available-for-sale	73,712		71,648		69,885		69,844		67,757		72,686		66,725
Securities held-to-maturity
Residential mortgage-backed	46,512		45,078		42,925		42,667		40,440		45,799		40,243
U.S. Treasury and government agencies	18,687		20,683		23,426		25,540		26,900		19,679		27,910
Other	8,188		7,117		5,983		6,384		6,838		7,656		7,180
Total securities held-to-maturity	73,387		72,878		72,334		74,591		74,178		73,134		75,333
Total investment securities	147,099		144,526		142,219		144,435		141,935		145,820		142,058
Loans
Commercial and industrial	223,711		211,358		198,726		195,903		191,526		217,569		187,796
Commercial real estate	35,057		34,367		30,173		30,850		31,838		34,714		32,450
Consumer	55,334		55,483		54,884		54,238		53,851		55,408		53,637
Residential real estate	49,094		49,675		44,146		44,941		45,539		49,383		45,823
Total loans	363,196		350,883		327,929		325,932		322,754		357,074		319,706
Interest-earning deposits with banks (c)	30,734		32,612		32,009		35,003		31,570		31,668		33,209
Other interest-earning assets	13,985		12,457		18,618		12,759		11,348		13,238		10,750
Total interest-earning assets	555,014		540,478		520,775		518,129		507,607		547,800		505,723
Noninterest-earning assets	61,256		60,984		55,071		53,404		54,079		61,122		53,323
Total assets	$	616,270	$	601,462	$	575,846	$	571,533	$	561,686	$	608,922	$	559,046
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing deposits
Money market	$	81,402	$	85,196	$	78,742	$	75,890	$	70,909	$	83,288	$	71,980
Demand	136,487		137,558		132,591		128,962		126,222		137,020		125,637
Savings	102,624		100,940		97,188		96,627		97,028		101,787		97,217
Time deposits	33,027		35,579		36,180		37,593		35,674		34,295		34,227
Total interest-bearing deposits	353,540		359,273		344,701		339,072		329,833		356,390		329,061
Borrowed funds
Federal Home Loan Bank advances	29,362		16,616		14,671		17,615		18,319		23,024		19,007
Senior debt	38,184		37,383		38,623		38,012		36,142		37,786		35,541
Subordinated debt	4,544		4,200		3,299		3,616		3,686		4,373		4,001
Other	6,843		4,675		3,722		7,070		7,146		5,766		6,352
Total borrowed funds	78,933		62,874		60,315		66,313		65,293		70,949		64,901
Total interest-bearing liabilities	432,473		422,147		405,016		405,385		395,126		427,339		393,962
Noninterest-bearing liabilities and equity:
Noninterest-bearing deposits	103,479		99,081		94,834		92,756		93,142		101,292		92,757
Accrued expenses and other liabilities	16,848		16,944		16,646		15,624		16,942		16,909		16,580
Equity	63,470		63,290		59,350		57,768		56,476		63,382		55,747
Total liabilities and equity	$	616,270	$	601,462	$	575,846	$	571,533	$	561,686	$	608,922	$	559,046

(a)Calculated using average daily balances.

(b)Nonaccrual loans are included in loans, net of unearned income. The impact of financial derivatives used in interest rate risk management is included in the interest income/expense and average yields/rates of the related assets and liabilities. Fair value adjustments related to hedged items are included in noninterest-earning assets and noninterest-bearing liabilities. Average balances of securities are based on amortized historical cost (excluding adjustments to fair value, which are included in other assets).

(c)Amounts include average balances held with the Federal Reserve Bank of $29.9 billion, $31.8 billion, $31.3 billion, $34.2 billion and $30.8 billion for the three months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025 and $30.8 billion and $32.5 billion for the six months ended June 30, 2026 and 2025, respectively.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 4


Table 4: Details of Net Interest Margin (Unaudited)
	Three months ended										Six months ended
	June 30		March 31		December 31		September 30		June 30		June 30		June 30
	2026		2026		2025		2025		2025		2026		2025
Average yields/rates (a)
Yield on interest-earning assets
Investment securities
Securities available-for-sale
Residential mortgage-backed	3.85	%	3.72	%	3.80	%	3.82	%	3.76	%	3.78	%	3.72	%
U.S. Treasury and government agencies	3.94	%	4.04	%	4.29	%	4.58	%	4.55	%	3.99	%	4.56	%
Other	4.01	%	4.00	%	3.97	%	3.91	%	3.69	%	4.00	%	3.67	%
Total securities available-for-sale	3.90	%	3.88	%	4.02	%	4.12	%	4.05	%	3.89	%	4.03	%
Securities held-to-maturity
Residential mortgage-backed	3.31	%	3.20	%	3.13	%	3.07	%	2.90	%	3.26	%	2.87	%
U.S. Treasury and government agencies	1.64	%	1.59	%	1.50	%	1.51	%	1.53	%	1.61	%	1.52	%
Other	4.36	%	4.23	%	4.28	%	4.35	%	4.34	%	4.30	%	4.37	%
Total securities held-to-maturity	3.00	%	2.84	%	2.70	%	2.65	%	2.54	%	2.92	%	2.51	%
Total investment securities	3.45	%	3.36	%	3.35	%	3.36	%	3.26	%	3.41	%	3.22	%
Loans
Commercial and industrial	5.39	%	5.43	%	5.55	%	5.78	%	5.72	%	5.41	%	5.71	%
Commercial real estate	5.71	%	5.79	%	5.92	%	6.06	%	6.01	%	5.75	%	5.97	%
Consumer	6.94	%	6.99	%	7.09	%	7.18	%	7.11	%	6.97	%	7.12	%
Residential real estate	4.03	%	3.97	%	3.74	%	3.75	%	3.76	%	4.00	%	3.77	%
Total loans	5.47	%	5.50	%	5.60	%	5.76	%	5.70	%	5.49	%	5.70	%
Interest-earning deposits with banks	3.63	%	3.64	%	3.92	%	4.34	%	4.38	%	3.63	%	4.38	%
Other interest-earning assets	4.69	%	4.95	%	4.95	%	5.51	%	5.66	%	4.80	%	5.83	%
Total yield on interest-earning assets	4.82	%	4.80	%	4.86	%	4.99	%	4.93	%	4.81	%	4.92	%
Rate on interest-bearing liabilities
Interest-bearing deposits
Money market	2.51	%	2.53	%	2.77	%	3.07	%	3.01	%	2.52	%	3.00	%
Demand	1.60	%	1.61	%	1.78	%	1.96	%	1.89	%	1.61	%	1.88	%
Savings	1.48	%	1.49	%	1.62	%	1.68	%	1.63	%	1.48	%	1.64	%
Time deposits	3.03	%	3.26	%	3.53	%	3.67	%	3.64	%	3.15	%	3.66	%
Total interest-bearing deposits	1.91	%	1.96	%	2.14	%	2.32	%	2.24	%	1.93	%	2.24	%
Borrowed funds
Federal Home Loan Bank advances	3.89	%	3.98	%	4.41	%	4.73	%	4.74	%	3.93	%	4.74	%
Senior debt	5.10	%	5.14	%	5.55	%	5.85	%	5.77	%	5.12	%	5.71	%
Subordinated debt	5.16	%	5.12	%	5.52	%	5.81	%	5.69	%	5.14	%	5.61	%
Other	4.08	%	4.14	%	4.02	%	4.19	%	4.24	%	4.10	%	4.30	%
Total borrowed funds	4.57	%	4.76	%	5.18	%	5.38	%	5.31	%	4.65	%	5.28	%
Total rate on interest-bearing liabilities	2.39	%	2.37	%	2.59	%	2.81	%	2.74	%	2.38	%	2.73	%
Interest rate spread	2.43	%	2.43	%	2.27	%	2.18	%	2.19	%	2.43	%	2.19	%
Benefit from use of noninterest-bearing sources (b)	0.53	%	0.52	%	0.57	%	0.61	%	0.61	%	0.53	%	0.60	%
Net interest margin	2.96	%	2.95	%	2.84	%	2.79	%	2.80	%	2.96	%	2.79	%

(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, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025 were $27 million, $29 million, $31 million, $30 million and $28 million, respectively. The taxable-equivalent adjustments to net interest income for both the six months ended June 30, 2026 and 2025 were $56 million.

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


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 5

Table 5: Details of Loans (Unaudited)


	June 30		March 31		December 31		September 30		June 30
In millions	2026		2026		2025		2025		2025
Commercial
Commercial and industrial
Financial services	$	44,297	$	42,224	$	37,592	$	33,939	$	32,378
Manufacturing	35,114		34,977		30,623		31,044		31,958
Service providers	27,756		27,303		25,552		25,159		24,373
Wholesale trade	22,713		21,146		19,843		19,917		20,045
Real estate related (a)	17,994		17,138		15,275		15,405		15,214
Retail trade	13,375		12,973		12,073		12,408		12,970
Technology, media and telecommunications	12,682		13,613		12,324		11,594		11,263
Transportation and warehousing	9,893		9,872		9,258		8,156		7,865
Rental and leasing	9,696		9,281		9,074		8,940		8,919
Health care	9,536		9,526		9,135		9,851		9,873
Other industries	24,859		23,137		22,149		20,681		20,900
Total commercial and industrial	227,915		221,190		202,898		197,094		195,758
Commercial real estate	35,962		34,770		29,565		30,281		31,250
Total commercial	263,877		255,960		232,463		227,375		227,008
Consumer
Residential real estate	48,709		49,567		43,760		44,637		45,257
Home equity	26,280		26,223		25,941		25,942		25,928
Automobile	15,872		16,325		16,591		16,272		15,892
Credit card	7,311		7,069		7,014		6,636		6,570
Other consumer	5,904		5,779		5,712		5,754		5,685
Total consumer	104,076		104,963		99,018		99,241		99,332
Total loans	$	367,953	$	360,923	$	331,481	$	326,616	$	326,340

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


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 6

Allowance for Credit Losses (Unaudited)

Table 6: 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	2026			2026			2025			2025			2025			2026			2025
Allowance for loan and lease losses
Beginning balance	$	4,663		$	4,410		$	4,478		$	4,523		$	4,544		$	4,410		$	4,486
Acquisition PCD reserves	—			93			—			—			—			93			—
Acquisition PSL reserves (a)	—			229			—			—			—			229			—
Adjusted beginning balance	4,663			4,732			4,478			4,523			4,544			4,732			4,486
Gross charge-offs:
Commercial and industrial	(141)			(129)			(85)			(97)			(99)			(270)			(212)
Commercial real estate	(24)			(19)			(15)			(19)			(64)			(43)			(82)
Residential real estate	—			(1)			—			(6)			—			(1)			(2)
Home equity	(10)			(10)			(7)			(10)			(9)			(20)			(18)
Automobile	(29)			(31)			(33)			(32)			(30)			(60)			(65)
Credit card	(78)			(74)			(73)			(76)			(81)			(152)			(171)
Other consumer	(42)			(45)			(43)			(44)			(41)			(87)			(86)
Acquired loans (b)	—			(45)			—			—			—			(45)			—
Total gross charge-offs	(324)			(354)			(256)			(284)			(324)			(678)			(636)
Recoveries:
Commercial and industrial	33			33			33			38			53			66			95
Commercial real estate	3			5			3			6			8			8			13
Residential real estate	2			2			3			3			3			4			5
Home equity	7			8			8			7			12			15			20
Automobile	21			20			22			25			24			41			47
Credit card	19			20			15			17			15			39			30
Other consumer	13			13			10			9			11			26			23
Total recoveries	98			101			94			105			126			199			233
Net (charge-offs) / recoveries:
Commercial and industrial	(108)			(96)			(52)			(59)			(46)			(204)			(117)
Commercial real estate	(21)			(14)			(12)			(13)			(56)			(35)			(69)
Residential real estate	2			1			3			(3)			3			3			3
Home equity	(3)			(2)			1			(3)			3			(5)			2
Automobile	(8)			(11)			(11)			(7)			(6)			(19)			(18)
Credit card	(59)			(54)			(58)			(59)			(66)			(113)			(141)
Other consumer	(29)			(32)			(33)			(35)			(30)			(61)			(63)
Acquired loans	—			(45)			—			—			—			(45)			—
Total net (charge-offs)	(226)			(253)			(162)			(179)			(198)			(479)			(403)
Provision for credit losses (c)	213			188			93			136			171			401			431
Other	2			(4)			1			(2)			6			(2)			9
Ending balance	$	4,652		$	4,663		$	4,410		$	4,478		$	4,523		$	4,652		$	4,523
Supplemental Information
Net charge-offs
Commercial net charge-offs	$	(129)		$	(120)		$	(64)		$	(72)		$	(102)		$	(249)		$	(186)
Consumer net charge-offs	(97)			(133)			(98)			(107)			(96)			(230)			(217)
Total net charge-offs	(226)			(253)			(162)			(179)			(198)			(479)			(403)
Net charge-offs to average loans (annualized)	0.25		%	0.29		%	0.20		%	0.22		%	0.25		%	0.25		%	0.25		%
Commercial	0.20		%	0.18		%	0.11		%	0.13		%	0.18		%	0.19		%	0.17		%
Consumer	0.37		%	0.38		%	0.39		%	0.43		%	0.39		%	0.38		%	0.44		%

(a)On January 1, 2026, we adopted ASU 2025-08 - Financial Instruments - Credit Losses (Topic 326): Purchased Loans, and established the initial ACL for purchased seasoned loans (PSLs). Our second quarter 2026 Form 10-Q will include additional information on the adoption of this ASU.

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

(c)See Table 7 for the components of the Provision for credit losses being reported on the Consolidated Income Statement.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 7

Allowance for Credit Losses (Unaudited) (Continued)

Table 7: Components of the Provision for Credit Losses


	Three months ended										Six months ended
	June 30		March 31		December 31		September 30		June 30		June 30		June 30
In millions	2026		2026		2025		2025		2025		2026		2025
Provision for credit losses
Loans and leases	$	213	$	188	$	93	$	136	$	171	$	401	$	431
Unfunded lending related commitments	(20)		14		43		16		84		(6)		38
Investment securities	(1)		—		—		(1)		(1)		(1)		2
Other financial assets	(1)		8		3		16		—		7		2
Total provision for credit losses	$	191	$	210	$	139	$	167	$	254	$	401	$	473

Table 8: Allowance for Credit Losses by Loan Class (a)


	June 30, 2026						March 31, 2026						June 30, 2025
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	$	2,219	$	227,915	0.97	%	$	2,149	$	221,190	0.97	%	$	1,948	$	195,758	1.00	%
Commercial real estate	1,035		35,962		2.88	%	1,120		34,770		3.22	%	1,282		31,250		4.10	%
Total commercial	3,254		263,877		1.23	%	3,269		255,960		1.28	%	3,230		227,008		1.42	%
Consumer
Residential real estate	90		48,709		0.18	%	92		49,567		0.19	%	52		45,257		0.11	%
Home equity	280		26,280		1.07	%	275		26,223		1.05	%	292		25,928		1.13	%
Automobile	160		15,872		1.01	%	163		16,325		1.00	%	151		15,892		0.95	%
Credit card	647		7,311		8.85	%	647		7,069		9.15	%	579		6,570		8.81	%
Other consumer	221		5,904		3.74	%	217		5,779		3.75	%	219		5,685		3.85	%
Total consumer	1,398		104,076		1.34	%	1,394		104,963		1.33	%	1,293		99,332		1.30	%
Total	4,652		$	367,953	1.26	%	4,663		$	360,923	1.29	%	4,523		$	326,340	1.39	%
Allowance for unfunded lending related commitments	809						832						759
Allowance for credit losses	$	5,461					$	5,495					$	5,282

Supplemental Information
Allowance for credit losses to total loans					1.48	%					1.52	%					1.62	%
Commercial					1.49	%					1.55	%					1.69	%
Consumer					1.48	%					1.46	%					1.45	%

(a) Excludes allowances for investment securities and other financial assets, which together totaled $99 million, $103 million and $88 million at June 30, 2026, March 31, 2026 and June 30, 2025, respectively.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 8

Details of Nonperforming Assets (Unaudited)

Table 9: Nonperforming Assets by Type


	June 30			March 31			December 31			September 30			June 30
Dollars in millions	2026			2026			2025			2025			2025
Nonperforming loans
Commercial
Commercial and industrial
Manufacturing	$	186		$	224		$	98		$	75		$	73
Service providers	131			136			116			119			126
Wholesale trade	106			97			161			96			19
Transportation and warehousing	83			71			62			68			68
Real estate related (a)	50			25			27			20			24
Health care	47			42			47			45			54
Technology, media and telecommunications	41			25			27			83			31
Retail trade	14			79			194			36			64
Rental and leasing	4			5			6			13			16
Other industries	23			46			46			64			23
Total commercial and industrial	685			750			784			619			498
Commercial real estate	464			630			574			663			753
Total commercial	1,149			1,380			1,358			1,282			1,251
Consumer (b)
Residential real estate	325			316			320			326			325
Home equity	456			447			439			431			436
Automobile	82			85			83			82			80
Credit card	11			12			13			13			13
Other consumer	4			3			5			3			3
Total consumer	878			863			860			855			857
Total nonperforming loans (c)	2,027			2,243			2,218			2,137			2,108
OREO, foreclosed and other assets (d)	123			139			143			162			33
Total nonperforming assets	$	2,150		$	2,382		$	2,361		$	2,299		$	2,141
Nonperforming loans to total loans	0.55		%	0.62		%	0.67		%	0.65		%	0.65		%
Nonperforming assets to total loans, OREO, foreclosed and other assets (d)	0.58		%	0.66		%	0.71		%	0.70		%	0.66		%
Nonperforming assets to total assets	0.35		%	0.40		%	0.41		%	0.40		%	0.38		%
Allowance for loan and lease losses to nonperforming loans	230		%	208		%	199		%	210		%	215		%

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

(b)Excludes most unsecured consumer loans and lines of credit, which are charged off after 120 to 180 days past due and are not placed on nonperforming status.

(c)Nonperforming loans exclude certain government insured or guaranteed loans, loans held for sale and loans accounted for under the fair value option.

(d)Amounts include nonaccrual servicing advances primarily to single asset/single borrower trusts with commercial real estate as collateral totaling $90 million, $103 million, $105 million and $127 million at June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively.

Table 10: Change in Nonperforming Assets


	Three months ended
	June 30		March 31		December 31		September 30		June 30
Dollars in millions	2026		2026		2025		2025		2025
Beginning balance	$	2,382	$	2,361	$	2,299	$	2,141	$	2,324

New nonperforming assets	335		539		569		653		367
Charge-offs and valuation adjustments	(150)		(152)		(91)		(103)		(149)
Principal activity, including paydowns and payoffs	(174)		(343)		(248)		(299)		(312)
Asset sales and transfers to loans held for sale	(68)		(9)		(33)		(13)		(5)
Returned to performing status	(175)		(95)		(135)		(80)		(84)
Acquired nonperforming assets	—		81		—		—		—
Ending balance	$	2,150	$	2,382	$	2,361	$	2,299	$	2,141


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 9

Accruing Loans Past Due (Unaudited)

Table 11: Accruing Loans Past Due 30 to 59 Days (a)



	June 30			March 31			December 31			September 30			June 30
Dollars in millions	2026			2026			2025			2025			2025
Commercial
Commercial and industrial	$	123		$	283		$	182		$	161		$	133
Commercial real estate	7			90			14			9			43
Total commercial	130			373			196			170			176
Consumer
Residential real estate
Non government insured	305			221			170			166			169
Government insured	67			63			73			79			78
Home equity	65			73			70			73			62
Automobile	59			59			74			70			74
Credit card	37			41			45			45			42
Other consumer	32			33			32			32			34
Total consumer	565			490			464			465			459
Total	$	695		$	863		$	660		$	635		$	635
Supplemental Information
Total accruing loans past due 30-59 days to total loans	0.19		%	0.24		%	0.20		%	0.19		%	0.19		%
Commercial	0.05		%	0.15		%	0.08		%	0.07		%	0.08		%
Consumer	0.54		%	0.47		%	0.47		%	0.47		%	0.46		%

(a)Excludes loans held for sale.

Table 12: Accruing Loans Past Due 60 to 89 Days (a)


	June 30			March 31			December 31			September 30			June 30
Dollars in millions	2026			2026			2025			2025			2025
Commercial
Commercial and industrial	$	121		$	50		$	103		$	67		$	101
Commercial real estate	9			17			98			—			6
Total commercial	130			67			201			67			107
Consumer
Residential real estate
Non government insured	78			69			57			48			52
Government insured	37			41			44			39			39
Home equity	26			32			30			27			28
Automobile	15			15			18			17			19
Credit card	28			31			32			31			32
Other consumer	24			18			21			22			20
Total consumer	208			206			202			184			190
Total	$	338		$	273		$	403		$	251		$	297
Supplemental Information
Total accruing loans past due 60-89 days to total loans	0.09		%	0.08		%	0.12		%	0.08		%	0.09		%
Commercial	0.05		%	0.03		%	0.09		%	0.03		%	0.05		%
Consumer	0.20		%	0.20		%	0.20		%	0.19		%	0.19		%

(a)Excludes loans held for sale.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 10

Accruing Loans Past Due (Unaudited) (Continued)

Table 13: Accruing Loans Past Due 90 Days or More (a)


	June 30			March 31			December 31			September 30			June 30
Dollars in millions	2026			2026			2025			2025			2025
Commercial
Commercial and industrial	$	76		$	68		$	57		$	71		$	79
Commercial real estate	—			1			—			1			—
Total commercial	76			69			57			72			79
Consumer
Residential real estate
Non government insured	42			50			46			38			53
Government insured	188			195			163			126			129
Automobile	4			5			5			4			5
Credit card	56			64			65			63			64
Other consumer	37			39			44			44			41
Total consumer	327			353			323			275			292
Total	$	403		$	422		$	380		$	347		$	371
Supplemental Information
Total accruing loans past due 90 days or more to total loans	0.11		%	0.12		%	0.11		%	0.11		%	0.11		%
Commercial	0.03		%	0.03		%	0.02		%	0.03		%	0.03		%
Consumer	0.31		%	0.34		%	0.33		%	0.28		%	0.29		%
Total accruing loans past due	$	1,436		$	1,558		$	1,443		$	1,233		$	1,303
Commercial	$	336		$	509		$	454		$	309		$	362
Consumer	$	1,100		$	1,049		$	989		$	924		$	941
Total accruing loans past due to total loans	0.39		%	0.43		%	0.44		%	0.38		%	0.40		%
Commercial	0.13		%	0.20		%	0.20		%	0.14		%	0.16		%
Consumer	1.06		%	1.00		%	1.00		%	0.93		%	0.95		%

(a)Excludes loans held for sale.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 11

Business Segment Descriptions (Unaudited)

Retail Banking provides deposit, lending, brokerage, insurance services, investment management and cash management products and services to consumer and small business customers who are serviced through our coast-to-coast branch network, digital channels, ATMs, or through our phone-based customer contact centers. Deposit products include checking, savings and money market accounts and time deposits. Lending products include residential mortgages, home equity loans and lines of credit, auto loans, credit cards, personal and small business loans and lines of credit. The residential mortgage loans are directly originated within our branch network and nationwide, and are typically underwritten to agency and/or third-party standards, and either sold, servicing retained or held on our balance sheet. PNC Wealth Management offers brokerage, investment management and cash management products and services which include managed, education, retirement and trust accounts.

Corporate & Institutional Banking provides lending, treasury management, capital markets and advisory products and services to mid-sized and large corporations and government and not-for-profit entities. Lending products include secured and unsecured loans, letters of credit and equipment leases. The Treasury Management business provides corporations with cash and investment management services, receivables and disbursement management services, funds transfer services and access to online/mobile information management and reporting services. Capital markets and advisory includes services and activities primarily related to merger and acquisitions advisory, equity capital markets advisory, asset-backed financing, loan syndication, securities underwriting and customer-related trading. We also provide commercial loan servicing and technology solutions for the commercial real estate finance industry. Products and services are provided nationally.

Asset Management Group provides private banking for high net worth and ultra high net worth clients and institutional asset management. The Asset Management Group is composed of two operating units:

•PNC Private Bank provides products and services to emerging affluent, high net worth and ultra high net worth individuals and their families, including investment and retirement planning, customized investment management, credit and cash management solutions, trust management and administration. In addition, multi-generational family planning services are also provided to ultra high net worth individuals and their families, which include estate, financial, tax, fiduciary and customized performance reporting.

•Institutional Asset Management provides outsourced chief investment officer, custody, cash and fixed income client solutions, and retirement plan fiduciary investment services to institutional clients, including corporations, healthcare systems, insurance companies, municipalities and non-profits.

Table 14: Period End Employees


	June 30	March 31	December 31	September 30	June 30
	2026	2026	2025	2025	2025
Full-time employees
Retail Banking	26,611	28,046	26,168	26,126	26,291
Other full-time employees	29,093	28,320	27,691	27,397	26,884
Total full-time employees	55,704	56,366	53,859	53,523	53,175
Part-time employees
Retail Banking	1,429	1,389	1,427	1,367	1,465
Other part-time employees	495	46	47	48	407
Total part-time employees	1,924	1,435	1,474	1,415	1,872
Total	57,628	57,801	55,333	54,938	55,047


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 12

Table 15: Summary of Business Segment Net Income and Revenue (Unaudited) (a)


	Three months ended										Six months ended
	June 30		March 31		December 31		September 30		June 30		June 30		June 30
In millions	2026		2026		2025		2025		2025		2026		2025
Net Income (b)
Retail Banking	$	1,747	$	1,349	$	1,266	$	1,351	$	1,386	$	3,096	$	2,534
Corporate & Institutional Banking	1,588		1,480		1,597		1,545		1,318		3,068		2,651
Asset Management Group	135		121		124		120		132		256		240
Other	(1,430)		(1,190)		(967)		(1,208)		(1,209)		(2,620)		(2,317)
Net income excluding noncontrolling interests	$	2,040	$	1,760	$	2,020	$	1,808	$	1,627	$	3,800	$	3,108

Revenue (b)
Retail Banking	$	4,518	$	4,007	$	3,792	$	3,840	$	3,792	$	8,525	$	7,371
Corporate & Institutional Banking	3,283		3,086		3,175		3,020		2,836		6,369		5,582
Asset Management Group	462		455		444		433		428		917		849
Other	(1,388)		(1,383)		(1,340)		(1,378)		(1,395)		(2,771)		(2,689)
Total revenue	$	6,875	$	6,165	$	6,071	$	5,915	$	5,661	$	13,040	$	11,113

(a)Our business information is presented based on our internal management reporting practices. Net interest income in business segment results reflects PNC’s internal funds transfer pricing methodology. Assets receive a funding charge and liabilities and capital receive a funding credit based on a transfer pricing methodology that incorporates product repricing characteristics, tenor and other factors.

(b)During the second quarter of 2026, PNC updated its internal funds transfer pricing methodology. The update resulted in impacts to net interest income and associated income statement line items for all business segments. Prior periods have been adjusted to conform with the current presentation.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 13

Table 16: Retail Banking (Unaudited) (a)


	Three months ended																Six months ended
	June 30			March 31				December 31			September 30			June 30			June 30			June 30
Dollars in millions	2026			2026				2025			2025			2025			2026			2025
Income Statement
Net interest income (b)	$	3,291		$	3,237			$	3,022		$	3,050		$	3,010		$	6,528		$	5,883
Noninterest income	1,227			770				770			790			782			1,997			1,488
Total revenue (b)	4,518			4,007				3,792			3,840			3,792			8,525			7,371
Provision for credit losses	120			124				155			126			83			244			251
Noninterest expense
Personnel	551			571				535			529			539			1,122			1,077
Segment allocations (c)	1,090			1,088				1,020			979			978			2,178			1,945
Depreciation and amortization	138			132				95			97			87			270			173
Other (d)	332			324				327			336			286			656			597
Total noninterest expense	2,111			2,115				1,977			1,941			1,890			4,226			3,792
Pre-tax earnings (b)	2,287			1,768				1,660			1,773			1,819			4,055			3,328
Income taxes (b)	532			412				387			413			423			944			775
Noncontrolling interests	8			7				7			9			10			15			19
Earnings (b)	$	1,747		$	1,349		752	$	1,266		$	1,351		$	1,386		$	3,096		$	2,534
Average Balance Sheet
Loans held for sale	$	616		$	562			$	699		$	785		$	874		$	589		$	867
Loans
Consumer
Residential real estate	$	38,348		$	38,939			$	33,336		$	34,043		$	34,647		$	38,642		$	34,920
Home equity	24,859			24,913				24,559			24,551			24,551			24,886			24,548
Automobile	16,058			16,499				16,403			16,035			15,738			16,278			15,491
Credit card	7,128			6,912				6,754			6,561			6,483			7,020			6,525
Other consumer	3,164			3,257				3,320			3,334			3,342			3,210			3,368
Total consumer	89,557			90,520				84,372			84,524			84,761			90,036			84,852
Commercial	20,989			20,423				12,603			12,353			12,725			20,708			12,783
Total loans	$	110,546		$	110,943			$	96,975		$	96,877		$	97,486		$	110,744		$	97,635
Total assets	$	130,460		$	130,616			$	113,714		$	114,146		$	114,061		$	130,537		$	114,601
Deposits
Noninterest-bearing	$	60,547		$	58,714			$	52,125		$	52,604		$	52,353		$	59,635		$	51,833
Interest-bearing	211,055			209,519				191,941			190,652			191,190			210,292			190,381
Total deposits	$	271,602		$	268,233			$	244,066		$	243,256		$	243,543		$	269,927		$	242,214
Performance Ratios (b)
Return on average assets	5.37		%	4.19		%		4.42		%	4.70		%	4.87		%	4.78		%	4.46		%
Noninterest income to total revenue	27		%	19		%		20		%	21		%	21		%	23		%	20		%
Efficiency	47		%	53		%		52		%	51		%	50		%	50		%	51		%

(continued on following page)


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 14

Retail Banking (Unaudited) (Continued)


	Three months ended															Six months ended
	June 30			March 31			December 31			September 30			June 30			June 30			June 30
Dollars in millions, except as noted	2026			2026			2025			2025			2025			2026			2025
Supplemental Noninterest Income Information
Asset management and brokerage	$	172		$	161		$	155		$	154		$	150		$	333		$	302
Card and cash management	$	350		$	322		$	328		$	334		$	328		$	672		$	624
Lending and deposit services	$	204		$	200		$	199		$	199		$	190		$	404		$	374
Residential and commercial mortgage	$	83		$	63		$	78		$	89		$	61		$	146		$	126
Other income - Gain on Visa shares exchange program	$	448		$	—		$	—		$	—		$	—		$	448		$	—
Residential Mortgage Information
Residential mortgage servicing statistics (e)
Serviced portfolio balance (in billions) (f)	$	209		$	212		$	198		$	199		$	189
MSR asset value (f)	$	2,762		$	2,786		$	2,638		$	2,622		$	2,457
Servicing income:
Servicing fees, net (g)	$	61		$	68		$	63		$	60		$	60		$	129		$	131
Mortgage servicing rights valuation, net of economic hedge	$	3		$	(27)		$	(5)		$	18		$	2		$	(24)		$	(2)
Residential mortgage loan statistics
Loan origination volume (in billions)	$	1.7		$	1.5		$	1.6		$	1.5		$	1.7		$	3.2		$	2.7
Loan sale margin percentage	2.01		%	2.25		%	1.88		%	1.67		%	0.91		%	2.12		%	0.78		%
Other Information


Credit-related statistics
Nonperforming assets (f)	$	944		$	932		$	840		$	827		$	812
Net charge-offs - loans and leases	$	123		$	118		$	116		$	126		$	120		$	241		$	264
Other statistics
Branches (f)(h)	2,304			2,315			2,224			2,219			2,218
Brokerage account client assets (in billions) (f)(i)	$	97		$	91		$	91		$	89		$	87

(a)See note (a) on page 12.

(b)See note (b) on page 12.

(c)Represents expense allocations for corporate overhead services used by each business segment; primarily comprised of technology, human resources and occupancy-related allocations.

(d)Other is primarily comprised of other direct expenses including outside services and equipment expense.

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

(f)Presented as of period end.

(g)Servicing fees net of impact of decrease in MSR value due to passage of time, which includes the impact from regularly scheduled loan principal payments, prepayments and loans paid off during the period.

(h)Reflects all branches excluding standalone mortgage offices and satellite offices (e.g., drive-ups, electronic branches and retirement centers) that provide limited products and/or services.

(i)Includes cash and money market balances.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 15

Table 17: Corporate & Institutional Banking (Unaudited) (a)


	Three months ended															Six months ended
	June 30			March 31			December 31			September 30			June 30			June 30			June 30
Dollars in millions	2026			2026			2025			2025			2025			2026			2025
Income Statement
Net interest income (b)	$	1,992		$	1,942		$	1,965		$	1,888		$	1,814		$	3,934		$	3,582
Noninterest income	1,291			1,144			1,210			1,132			1,022			2,435			2,000
Total revenue (b)	3,283			3,086			3,175			3,020			2,836			6,369			5,582
Provision for credit losses	76			77			14			44			184			153			233
Noninterest expense
Personnel	502			460			472			403			370			962			746
Segment allocations (c)	418			424			422			387			381			842			764
Depreciation and amortization	50			46			55			46			49			96			100
Other (d)	161			146			158			140			150			307			296
Total noninterest expense	1,131			1,076			1,107			976			950			2,207			1,906
Pre-tax earnings (b)	2,076			1,933			2,054			2,000			1,702			4,009			3,443
Income taxes (b)	483			448			451			450			379			931			783
Noncontrolling interests	5			5			6			5			5			10			9
Earnings (b)	$	1,588		$	1,480		$	1,597		$	1,545		$	1,318		$	3,068		$	2,651
Average Balance Sheet
Loans held for sale	$	635		$	665		$	632		$	691		$	775		$	650		$	516
Loans
Commercial
Commercial and industrial	$	207,046		$	194,711		$	185,195		$	182,484		$	177,630		$	200,913		$	173,872
Commercial real estate	29,008			28,802			29,374			30,032			30,962			28,905			31,553
Total commercial	236,054			223,513			214,569			212,516			208,592			229,818			205,425
Consumer	3			3			2			2			4			3			3
Total loans	$	236,057		$	223,516		$	214,571		$	212,518		$	208,596		$	229,821		$	205,428
Total assets	$	263,912		$	249,789		$	241,169		$	238,338		$	234,391		$	256,890		$	230,750
Deposits
Noninterest-bearing	$	41,441		$	38,959		$	41,308		$	38,732		$	39,196		$	40,207		$	39,347
Interest-bearing	117,169			122,219			122,457			116,460			107,275			119,680			107,886
Total deposits	$	158,610		$	161,178		$	163,765		$	155,192		$	146,471		$	159,887		$	147,233
Performance Ratios (b)
Return on average assets	2.41		%	2.40		%	2.63		%	2.57		%	2.26		%	2.41		%	2.32		%
Noninterest income to total revenue	39		%	37		%	38		%	37		%	36		%	38		%	36		%
Efficiency	34		%	35		%	35		%	32		%	33		%	35		%	34		%

(continued on following page)


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 16

Corporate & Institutional Banking (Unaudited) (Continued)


	Three months ended										Six months ended
	June 30		March 31		December 31		September 30		June 30		June 30		June 30
Dollars in millions	2026		2026		2025		2025		2025		2026		2025
Other Information
Consolidated revenue from:
Treasury Management (b) (e)	$	1,171	$	1,171	$	1,199	$	1,122	$	1,079	$	2,342	$	2,130
Commercial mortgage banking activities:
Commercial mortgage loans held for sale (b) (f)	$	23	$	14	$	34	$	23	$	24	$	37	$	50
Commercial mortgage loan servicing income (b) (g)	127		120		128		135		129		247		238
Commercial mortgage servicing rights valuation, net of economic hedge	33		28		37		47		36		61		75
Total	$	183	$	162	$	199	$	205	$	189	$	345	$	363
Commercial mortgage servicing statistics
Serviced portfolio balance (in billions) (h)(i)	$	294	$	296	$	294	$	293	$	295
MSR asset value (h)	$	1,039	$	1,029	$	1,021	$	1,006	$	1,010
Average loans by C&IB business (j)
Corporate Banking	$	139,370	$	128,837	$	121,379	$	118,445	$	114,607	$	134,132	$	111,968
Real Estate	41,002		41,074		40,836		41,863		42,533		41,038		42,906
Business Credit	36,012		33,944		32,552		32,412		31,544		34,983		30,798
Equipment Finance	10,717		10,595		10,551		10,476		10,422		10,656		10,346
Commercial Banking	5,944		5,976		5,904		6,063		6,194		5,960		6,229
Other	3,012		3,090		3,349		3,259		3,296		3,052		3,181
Total average loans	$	236,057	$	223,516	$	214,571	$	212,518	$	208,596	$	229,821	$	205,428
Credit-related statistics
Nonperforming assets (h)	$	1,066	$	1,309	$	1,375	$	1,323	$	1,160
Net charge-offs - loans and leases	$	105	$	92	$	49	$	53	$	83	$	197	$	147

(a)See note (a) on page 12.

(b)See note (b) on page 12.

(c)Represents expense allocations for corporate overhead services used by each business segment; primarily comprised of technology, human resources and occupancy-related allocations.

(d)Other is primarily comprised of other direct expenses including outside services and equipment expense.

(e)Amounts are reported in net interest income and noninterest income.

(f)Represents commercial mortgage banking income for valuations on commercial mortgage loans held for sale and related commitments, derivative valuations, origination fees, gains on sale of loans held for sale and net interest income on loans held for sale.

(g)Represents net interest income and noninterest income from loan servicing, net of reduction in commercial mortgage servicing rights due to time and payoffs. Commercial mortgage servicing rights valuation, net of economic hedge is shown separately.

(h)Presented as of period end.

(i)Represents balances related to capitalized servicing.

(j)During the second quarter of 2026, equipment finance activity was centralized and established as a business unit within C&IB. As a result, certain loans were reclassified from Corporate Banking, Commercial Banking and Other to Equipment Finance. Prior periods have been adjusted to conform with the current presentation.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 17

Table 18: Asset Management Group (Unaudited) (a)


	Three months ended															Six months ended
	June 30			March 31			December 31			September 30			June 30			June 30			June 30
Dollars in millions, except as noted	2026			2026			2025			2025			2025			2026			2025
Income Statement
Net interest income (b)	$	191		$	193		$	184		$	179		$	184		$	384		$	362
Noninterest income	271			262			260			254			244			533			487
Total revenue (b)	462			455			444			433			428			917			849
Provision for (recapture of) credit losses	(3)			5			(11)			4			(13)			2			(12)
Noninterest expense
Personnel	120			125			120			115			115			245			236
Segment allocations (c)	128			127			133			120			118			255			235
Depreciation and amortization	11			10			11			9			10			21			18
Other (d)	30			30			29			29			25			60			58
Total noninterest expense	289			292			293			273			268			581			547
Pre-tax earnings (b)	176			158			162			156			173			334			314
Income taxes (b)	41			37			38			36			41			78			74
Earnings (b)	$	135		$	121		$	124		$	120		$	132		$	256		$	240
Average Balance Sheet
Loans
Consumer
Residential real estate	$	9,866		$	9,826		$	9,876		$	9,937		$	9,912		$	9,846		$	9,910
Other consumer	3,964			3,735			3,673			3,574			3,543			3,850			3,508
Total consumer	13,830			13,561			13,549			13,511			13,455			13,696			13,418
Commercial	814			835			566			659			731			825			694
Total loans	$	14,644		$	14,396		$	14,115		$	14,170		$	14,186		$	14,521		$	14,112
Total assets	$	15,048		$	14,804		$	14,505		$	14,575		$	14,629		$	14,927		$	14,556
Deposits
Noninterest-bearing	$	1,459		$	1,411		$	1,387		$	1,426		$	1,585		$	1,435		$	1,563
Interest-bearing	25,575			26,310			25,564			25,437			25,327			25,941			25,714
Total deposits	$	27,034		$	27,721		$	26,951		$	26,863		$	26,912		$	27,376		$	27,277
Performance Ratios (b)
Return on average assets	3.60		%	3.31		%	3.39		%	3.27		%	3.62		%	3.46		%	3.32		%
Noninterest income to total revenue	59		%	58		%	59		%	59		%	57		%	58		%	57		%
Efficiency	63		%	64		%	66		%	63		%	63		%	63		%	64		%
Other Information
Nonperforming assets (e)	$	45		$	45		$	52		$	58		$	63
Net charge-offs (recoveries) - loans and leases	$	1		$	—		$	—		$	2		$	(1)		$	1		$	(1)
Client Assets Under Administration (in billions) (e)(f)
Discretionary client assets under management
PNC Private Bank	$	146		$	136		$	138		$	137		$	131
Institutional Asset Management	101			94			96			91			86
Total discretionary clients assets under management	247			230			234			228			217
Nondiscretionary client assets under administration	256			233			238			212			204
Total	$	503		$	463		$	472		$	440		$	421

(a)See note (a) on page 12.

(b)See note (b) on page 12.

(c)Represents expense allocations for corporate overhead services used by each business segment; primarily comprised of technology, human resources and occupancy-related allocations.

(d)Other is primarily comprised of other direct expenses including outside services and equipment expense.

(e)Presented as of period end.

(f)Excludes brokerage account client assets.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 18

Glossary of Terms

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).

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.

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.

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 and brokerage, Capital markets and advisory, Card and cash management, Lending and deposit services, and Residential and commercial mortgage.

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.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 19

Nonperforming assets – Nonperforming assets include nonperforming loans, OREO, foreclosed and other 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. 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.

Purchased seasoned loans (PSL) – Acquired loans that, at acquisition, have not experienced a more-than-insignificant credit deterioration since origination and are deemed "seasoned". A loan is seasoned if it was purchased more than 90 days after origination and PNC was not involved in the origination of the loan. All loans that are acquired without credit deterioration through a business combination are deemed "seasoned".

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.

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).

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.

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.


Pennsylvania			25-1435979
(State or other jurisdiction of			(I.R.S. Employer
incorporation)			Identification No.)


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock, par value $5.00	PNC	New York Stock Exchange


Number	Description	Method of Filing
99.1	Press release dated July 15, 2026	Furnished herewith
99.2	Financial Supplement (unaudited) for the Second Quarter 2026	Furnished herewith
104	The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.


		THE PNC FINANCIAL SERVICES GROUP, INC. (Registrant)
Date:	July 15, 2026	By:	/s/ Gregory H. Kozich
			Gregory H. Kozich
			Senior Vice President and Controller