The PNC Financial Services Group, Inc.

Climate Impact & Sustainability Data (2022, 2023)

Met all six organizational workforce diversity objectives in 2022
Initiated and made significant progress delivering on our four-year, $88 billion Community Benefits Plan
Launched a partnership with Guild Education providing employees with tuition-free professional certificates and degree programs

Of the 12 independent directors nominated for election this year, half are women or people of color
Board met 10 times in 2022; each director attended at least 75% of meetings

America’s Most JUST Companies (JUST 100)—JUST Capital (2023)
Best Places to Work for LGBTQ+ Equality—Human Rights Campaign (2022)
America’s Most Responsible Companies—Newsweek (2023)
Best Veteran-Friendly Companies & Veteran-Friendly Supplier Diversity Programs — U.S. Veterans Magazine (2022)
Best Places to Work—Disability Equality Index (2022)
Gender-Equality Index—Bloomberg (2023)
100 Most Sustainable Companies—Barron’s (2022)

Expanded environmental finance commitment from $20 billion to $30 billion by 2025
Set new operational sustainability targets to reflect the growth of our footprint through the acquisition of BBVA USA Bancshares, Inc. and committed to further reduce our own Scope 1 and 2 carbon emissions, energy and water consumption.

Met all six organizational workforce objectives in 2023 and were recognized by the American Opportunity Index as the financial institution most effective at developing talent and advancing employee careers
Continued significant progress under our four-year, $88 billion Community Benefits Plan aimed at advancing economic opportunities for low- and moderate-income individuals and communities and people of color
Expanded PNC’s Mobile Branch footprint in 10 markets to make banking more accessible for underserved markets and by financing or investing in approximately $10.5 million in affordable housing initiatives in two states.

79.8% shareholder support for say-on-pay proposal in 2023
Annual elections of the entire Board; majority vote standard for director elections
Robust independent oversight; at least two-thirds of independent directors

Concerns from some shareholders regarding one-time awards for NEOs and the rationale for one-time awards outside of the executive compensation program.
Questions about the succession planning process and how the one-time LCA awards factored into succession planning.
Requests for clearer disclosure on the Committee’s use of discretion in evaluating executive performance and making compensation decisions.

The Committee understands the concerns that some shareholders have with one-time awards for NEOs and as a result, has chosen to grant these awards infrequently, to address a specific business or strategic rationale.
PNC has a robust succession planning process in place and the Committee takes this process into account as part of its compensation evaluation.
We have provided additional insights into the Committee’s methodology for total compensation decisions, including how performance is evaluated in determining variable compensation and the guardrails on the Committee’s use of discretion in determining total incentive compensation.