PNC Financial Services : 3Q26 Liquidity Coverage Ratio Disclosure

‌The PNC Financial Services Group, Inc.

Liquidity Coverage Ratio Disclosure September 30, 2026

‌Table of Contents

Section Page

Introduction 1

Liquidity Coverage Ratio 2

High-Quality Liquid Assets 4

LCR Funding Sources 4

Net Cash Outflows 4

Deposits 4

Commitments 5

Maturity Mismatch Add-on 5

Liquidity Risk Management 5

‌Introduction‌

The PNC Financial Services Group, Inc. (PNC) is a financial services holding company headquartered in Pittsburgh, Pennsylvania and one of the largest diversified financial institutions in the United States (U.S.). PNC has businesses engaged in retail banking, corporate and institutional banking and asset management, providing many of our products and services nationally. We are organized around our 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. Our retail branch network is located coast-to-coast, and we also have strategic international offices in four countries outside the U.S. At September 30, 2026, consolidated total assets, total deposits and total shareholders’ equity were $627.8 billion, $466.4 billion and $62.4 billion, respectively.

PNC is a bank holding company (BHC) under the BHC Act that has elected to be a financial holding company under the Gramm-Leach-Bliley Act. As a BHC, PNC is subject to regulation under the BHC Act and to comprehensive consolidated supervision, regulation and examination by its primary regulator, the Federal Reserve Bank (FRB). PNC primarily conducts its business through its domestic bank subsidiary, PNC Bank, which is a national banking association chartered under the laws of the U.S. PNC Bank is supervised and regulated primarily by the OCC, and with respect to some matters, by the FDIC and the Consumer Financial Protection Bureau.

On January 5, 2026, PNC acquired FirstBank Holding Company including its banking subsidiary. In June 2026, PNC converted approximately 780,000 customers, more than 1,620 employees and 95 branches across Colorado and Arizona, merging FirstBank into PNC Bank. PNC’s results for the second and third quarters of 2026 include the full quarter benefit of FirstBank. Results for the nine months ended September 30, 2026 include FirstBank operations since acquisition close on January 5, 2026, and our balance sheet at September 30, 2026 includes FirstBank balances.

The Liquidity Coverage Ratio (LCR) disclosure is required by the LCR rule issued by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation. This disclosure provides information about our LCR, liquidity risk management, sources of liquidity and contractual obligations and commitments and should be read in conjunction with our Securities and Exchange Commission (SEC) filings, including the Annual Report on Form 10-K for the year ended December 31, 2025 (2025 Form 10-K) and Quarterly Report on Form 10-Q for the period ended September 30, 2026 (third quarter 2026 Form 10-Q). These SEC filings are available at https://www.pnc.com/ secfilings. The LCR disclosure and other regulatory disclosures are available at https://www.pnc.com/regulatorydisclosures.

Further, the financial information presented within these disclosures may differ from similar information presented in the Consolidated Financial Statements and Notes to Consolidated Financial Statements on Forms 10-K and 10-Q. Unless specified otherwise, all amounts and information within are presented in conformity with the definitions and requirements of the LCR rule.

Forward-Looking Statements

This disclosure may contain forward-looking statements, which are subject to numerous assumptions, risks and uncertainties, which change over time. 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. See the Cautionary Statement Regarding Forward-Looking Information in PNC’s third quarter 2026 Form 10-Q for more information. Also see all risks and uncertainties disclosed in PNC’s SEC filings, including its 2025 Form 10-K and subsequent reports, 10-Q and 8-K, Proxy Statements on Schedule 14A, and, if applicable, its registration statements under the Securities Act of 1933, as amended, all of which are or will upon filing be accessible on PNC’s website at https://www.pnc.com/secfilings and on the SEC’s website at https://www.sec.gov.

‌Liquidity Coverage Ratio‌

The LCR is a regulatory minimum liquidity requirement designed to ensure that covered banking organizations maintain an adequate level of unencumbered high-quality liquid assets (HQLA) to meet net liquidity needs over the course of a hypothetical 30-day stress scenario. The LCR, for disclosure purposes, is calculated as the quarterly average of the daily amount of an institution’s HQLA, as defined in accordance with the LCR rules, divided by its adjusted net cash outflows, with net cash outflows determined by applying the prescribed outflow factors in the LCR rules. The resulting quotient is expressed as a percentage. PNC calculates the LCR on a daily basis and is required to maintain a regulatory minimum of 100%. The LCR for PNC exceeded the regulatory minimum throughout the third quarter of 2026.

The following table summarizes PNC’s average LCR for the three months ended September 30, 2026 based on the LCR rules:

Table 1: Liquidity Coverage Ratio

Average weighted amount (in millions)	Three months ended September 30, 2026
HQLA	$ 114,040
Total adjusted net cash outflows	107,493
LCR	106 %
HQLA in excess of adjusted net cash outflows	$ 6,547

PNC’s average LCR for the three months ended September 30, 2026 was 106% and was stable compared to the three months ended June 30, 2026.

HQLA consists of cash balances held with the FRB and Level 1 and Level 2 securities as defined in the LCR rules. Adjusted net cash outflows primarily relate to deposits and lending-related commitments. Refer to Table 2: Liquidity Coverage Ratio and Related Components and Table 3: HQLA Composition for additional information.

The following table provides additional detail on PNC’s average LCR, including the average unweighted and weighted amount of HQLA, cash outflows and cash inflows for the three months ended September 30, 2026:

‌Table 2: Liquidity Coverage Ratio and Related Components

		Three months ended September 30, 2026
Dollars in millions		Average Unweighted Amount	Average Weighted Amount (a)
HQLA
1	Total eligible HQLA, of which:	$ 118,557	$ 114,040
2	Eligible Level 1 liquid assets	88,442	88,442
3	Eligible Level 2A liquid assets	30,115	25,598
4	Eligible Level 2B liquid assets	–	–
Cash outflow amounts
5	Deposit outflow from retail customers and counterparties, of which:	$ 267,972	$ 14,741
6	Stable retail deposit outflow	178,777	5,363
7	Other retail funding outflow	78,048	7,832
8	Brokered deposit outflow	11,147	1,546
9	Unsecured wholesale funding outflow, of which:	174,049	60,376
10	Operational deposit outflow	101,329	24,920
11	Non-operational funding outflow	71,936	34,672
12	Unsecured debt outflow	784	784
13	Secured wholesale funding and asset exchange outflow	24,460	3,795
14	Additional outflow requirements, of which:	268,180	52,493
15	Outflow related to derivative exposures and other collateral requirements	5,429	5,302
16	Outflow related to credit and liquidity facilities including unconsolidated structured transactions and mortgage commitments	262,751	47,191
17	Other contractual funding obligation outflow	461	461
18	Other contingent funding obligations outflow	21,942	658
19	Total cash outflow	$ 757,064	$ 132,524
Cash inflow amounts
20	Secured lending and asset exchange cash inflow	$ 2,284	$ 233
21	Retail cash inflow	1,330	665
22	Unsecured wholesale cash inflow	3,441	2,238
23	Other cash inflows, of which:	4,456	4,456
24	Net derivative cash inflow	3,581	3,581
25	Securities cash inflow	875	875
26	Broker-dealer segregated account inflow	–	–
27	Other cash inflow	–	–
28	Total cash inflow	$ 11,511	$ 7,592
Average Weighted Amount (b)
29	HQLA Amount		$ 114,040
30	Total estimated net cash outflow amount excluding the Maturity mismatch add-on		$ 124,932
31	Maturity mismatch add-on		1,530
32	Total unadjusted net cash outflow amount		$ 126,462
33	Outflow adjustment percentage		85 %
34	Total adjusted net cash outflow amount		$ 107,493
35	Liquidity Coverage Ratio (%)		106 %

1. Average weighted amount represents the average balances after applying HQLA haircuts and outflow/inflow rates prescribed by the LCR rules.

2. The amounts reported in this column may not equal the calculation of those amounts using component amounts reported in rows 1-28 due to technical factors such as the application of the Level 2 asset caps, the total inflow cap and for depository institution holding companies subject to subpart G, the application of the modification to total net cash outflows.

‌High-Quality Liquid Assets‌

HQLA consists of cash balances held with the FRB and Level 1 and Level 2 securities as defined in the LCR rules.

The following table presents the composition of PNC’s HQLA by asset class for the three months ended September 30, 2026:

‌Table 3: HQLA Composition

(in millions)	Three months ended September 30, 2026
	Average Weighted Amount
HQLA
Eligible cash (a)	$ 26,896
Eligible Level 1 securities (b)	61,546
Total eligible Level 1 assets	88,442
Eligible Level 2a securities (c)	25,598
Eligible Level 2b securities	–
Total eligible Level 2 assets	25,598
Total HQLA	$ 114,040

1. Cash represents balances held with the FRB.

2. Level 1 securities are U.S. Treasuries and securities guaranteed by sovereign entities with no prescribed HQLA haircut under the LCR rules.

3. Level 2 securities are primarily securities guaranteed by a U.S. government sponsored enterprise, sovereign entity or multilateral development bank net of prescribed HQLA haircuts under the LCR rules.

‌LCR Funding Sources‌

Our largest source of liquidity on a consolidated basis is the customer deposit base generated by our banking businesses. These deposits provide relatively stable and low-cost funding. We may also obtain liquidity through various forms of funding, such as senior debt, subordinated debt, Federal Home Loan Bank (FHLB) advances, securities sold under repurchase agreements, commercial paper and other short-term borrowings.

PNC Bank maintains additional secured borrowing capacity with the FHLB and through the FRB discount window. The FRB, however, is not viewed as a primary means of funding our routine business activities, but rather as a potential source of liquidity in a stressed environment or during a market disruption. At September 30, 2026, our unused secured borrowing capacity at the FHLB and the FRB was $43.1 billion and $86.1 billion, respectively.

For additional information on funding sources and sources of liquidity, refer to the Funding Sources section of the Consolidated Balance Sheet Review and the Liquidity and Capital Management section of Risk Management in our 2025 Form 10-K.

‌Net Cash Outflows‌

Total net cash outflows are defined as the total expected cash outflows minus the total expected cash inflows in the hypothetical 30-day stress scenario. Cash outflows and cash inflows are calculated by multiplying unweighted balances of PNC’s funding, assets and obligations by prescribed rates that are defined in the LCR rules. As detailed in Table 2, our largest average weighted cash outflows for the three months ended September 30, 2026 were deposits and credit and liquidity facilities related to unfunded commitments, which are discussed in further detail below. Other cash outflows, including outflows associated with unsecured debt, secured wholesale funding, derivatives, and other contractual/contingent funding obligations, as well as cash inflows associated with secured lending, retail lending, unsecured wholesale lending, derivatives and securities composed the remainder of the average weighted net cash outflows for the three months ended September 30, 2026, excluding the maturity mismatch add-on.

‌Deposits‌

As noted previously, our largest source of liquidity on a consolidated basis is our customer deposit base, which provides a relatively stable source of funding and limits our reliance on wholesale funding markets. The majority of PNC’s deposits are retail or wholesale operational, which are both considered to be stable sources of liquidity.

The following table summarizes the average deposit cash outflows for purposes of the LCR for the three months ended September 30, 2026. The prescribed outflow rates for non-operational wholesale funding are higher than the outflow rates for other deposit sources under the LCR rules.

Table 4: Average Deposit Outflows

Dollars in millions	Three months ended September 30, 2026
	Average Unweighted Amount	Average Weighted Amount	Implied Cash Rate	Outflow
Retail deposits	$ 267,972 $	14,741	6 %
Operational wholesale deposits	$ 101,329 $	24,920	25 %
Non-operational wholesale deposits	$ 71,936 $	34,672	48 %

‌Commitments‌

The LCR rules require us to apply prescribed outflow rates against off-balance sheet obligations and transactions. In the normal course of business, we have various commitments outstanding, such as commitments to extend credit, net outstanding standby letters of credit, standby bond purchase agreements and other commitments. Commitments to extend credit represent arrangements to lend funds or provide liquidity subject to specified contractual conditions to commercial and consumer customers. Net outstanding standby letters of credit, including those issued by other financial institutions where we share the risk, support obligations of our customers to third parties, such as insurance agreements and the facilitation of transactions involving capital markets product execution. For additional information refer to Note 10 Commitments in our 2025 Form 10-K.

‌Maturity Mismatch Add-on‌

The maturity mismatch add-on identifies gaps between the contractual inflows and outflows of liquidity during the period, specifically when there are early outflows and late inflows in the 30-day stress period. In Table 2, the quarterly average for the maturity mismatch add-on did not have a material impact on the total adjusted net cash outflow amount.

‌Liquidity Risk Management‌

We perform ongoing monitoring of liquidity through a series of early warning indicators tailored to PNC’s risk profile, complexity, activities and size that may identify a potential market, or PNC-specific, liquidity stress event. In addition, management performs a set of internal liquidity stress tests over multiple time horizons with varying levels of severity and maintains a contingency funding plan to address a potential liquidity stress event. Liquidity-related risk limits and operating guidelines are established within our Enterprise Liquidity Management Policy covering regulatory metrics and various concentration limits. Management committees, including the Asset and Liability Committee and the Board of Directors and its Risk Committee, regularly review compliance with key established limits. PNC was in compliance with all relevant internal and regulatory liquidity limits and guidelines during the third, second and first quarters of 2026.

For discussion of Enterprise Risk Management, including our Risk Culture, Enterprise Strategy, Risk Governance and Oversight, Risk Identification, Risk Assessment, Risk Controls and Monitoring and Risk Aggregation and Reporting, see the Risk Management section of our 2025 Form 10-K.