PNC FINANCIAL SERVICES GROUP, INC.

The following table details Parent Company note redemptions during 2025:

Table 30: Parent Company Notes Redeemed

See Note 24 Subsequent Events for details on the parent company’s redemption of all outstanding 4.758% senior fixed-to-floating rate notes with an original maturity date of January 26, 2027.

Parent company senior and subordinated debt carrying value totaled $33.7 billion and $28.4 billion at December 31, 2025 and 2024, respectively.

Contractual Obligations and Commitments

We enter into various contractual arrangements in the normal course of business, certain of which require future payments that could

impact our liquidity and capital resources. These obligations include commitments to extend credit, outstanding letters of credit,

customer deposits, borrowed funds, operating lease payments and future pension and post-retirement benefits. For further discussion

related to these contractual obligations and other commitments, see Note 6 Leases, Note 8 Time Deposits, Note 9 Borrowed Funds,

Note 10 Commitments and Note 16 Employee Benefit Plans.

Credit Ratings

PNC’s credit ratings affect the cost and availability of short and long-term funding, collateral requirements for certain derivative instruments and the ability to offer certain products.

In general, rating agencies base their ratings on many quantitative and qualitative factors, including capital adequacy, liquidity, asset quality, business mix, level and quality of earnings, and the current legislative and regulatory environment, including implied government support. A decrease, or potential decrease, in credit ratings could impact access to the capital markets and/or increase the cost of debt, and thereby adversely affect liquidity and financial condition. For additional information on the potential impacts from a downgrade to our credit ratings, see Item 1A Risk Factors in this Report.