PNC Financial Services (PNC)

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the third quarter of 2009 was $2.4 billion compared with $1.1 billion in the prior year third quarter and $2.7 billion for the second quarter of 2009. The linked quarter decrease of $279 million, or 10 percent, was primarily due to a special FDIC assessment of $133 million in the second quarter of 2009, reversal of $66 million of an indemnification charge related to certain Visa litigation in the third quarter, cost savings related to the acquisition and lower integration costs. Integration costs in noninterest expense were $89 million for the third quarter of 2009, $125 million for the second quarter of 2009 and $14 million for the third quarter of 2008. The company realized approximately $200 million in cost savings related to the acquisition in the third quarter, an increase of $60 million from the second quarter of 2009. This brings cumulative savings to more than $460 million, on track to exceed the $1.2 billion two-year goal of reducing combined company annualized noninterest expense.

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the second quarter of 2009 was $2.7 billion compared with $1.1 billion in the prior year second quarter and $2.3 billion for the first quarter of 2009. The linked quarter increase of $330 million included a special FDIC assessment of $133 million and integration costs of $125 million. Integration costs in noninterest expense were $13 million for the second quarter of 2008 and $52 million in the first quarter of 2009. Annualized acquisition cost savings of approximately $500 million were realized by the second quarter of 2009, on track to achieve the $1.2 billion two-year goal of reducing combined company annualized noninterest expense.

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the first quarter of 2009 was $2.3 billion compared with $1.0 billion in the prior year first quarter and $1.1 billion for the fourth quarter of 2008. Acquisition cost savings of approximately $400 million annualized were realized in the first quarter of 2009, on plan to reach the $1.2 billion two-year goal. Integration costs were $52 million, or $.08 per diluted share, in the first quarter of 2009 compared with $14 million, or $.03 per diluted share, in the first quarter of 2008, and in the fourth quarter of 2008 non-provision related integration costs were $81 million, or $.15 per diluted share.

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PNC Reports First Quarter Net Income of $530 Million and $1.03 Diluted EPS – Page 4

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the fourth quarter of 2008 was $1.13 billion compared with $1.21 billion in the prior year fourth quarter and $1.14 billion for the third quarter of 2008. The 7 percent decrease compared with the fourth quarter of 2007 mainly resulted from the sale of Hilliard Lyons and the effect of cost synergies from acquisitions. Noninterest expense compared with the linked quarter declined 1 percent primarily due to lower incentive compensation partially offset by higher integration costs, including those related to the National City acquisition.

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the third quarter of 2008 was $1.142 billion compared with $1.099 billion in the prior year third quarter and $1.115 billion for the second quarter of 2008. The 4 percent increase compared with the third quarter of 2007 primarily resulted from investments in growth initiatives, including acquisitions, partially offset by the sale of Hilliard Lyons and lower integration costs. The 2 percent increase in noninterest expense in the linked quarter comparison was largely due to investments in growth opportunities and branding initiatives while disciplined expense management continued.

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the second quarter of 2008 was $1.115 billion compared with $1.040 billion in the prior year second quarter and $1.042 billion for the first quarter of 2008. The 7 percent increase in the linked quarter comparison was primarily due to the comparative impact of the first quarter 2008 reversal of $43 million of an indemnification obligation related to certain Visa litigation recorded in the fourth quarter of 2007 and the acquisition of Sterling Financial Corporation on April 4, 2008, partially offset by the impact of the sale of Hilliard Lyons. The 7 percent increase in noninterest expense compared with the second quarter of 2007 primarily resulted from investments in growth initiatives, including acquisitions, partially offset by the sale of Hilliard Lyons.

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the first quarter of 2008 was $1.042 billion compared with $944 million in the prior year first quarter and $1.213 billion for the fourth quarter of 2007. Noninterest expense decreased compared with the linked quarter primarily due to a reversal of $43 million of the $82 million charge for an indemnification obligation related to certain Visa litigation recorded in the fourth quarter, lower integration costs and continued focus on expense control. The 10 percent increase in noninterest expense compared with the first quarter of 2007 was a result of the acquisition of Mercantile and investments in growth initiatives partially offset by disciplined expense management and the Visa indemnification liability reversal.

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the fourth quarter of 2007 was $1.213 billion compared with $969 million in the prior year quarter and $1.099 billion for the third quarter of 2007. Fourth quarter noninterest expense was $1.096 billion as adjusted compared with $969 million (no adjustments) for the fourth quarter of 2006 and $1.058 billion as adjusted for the linked quarter.

The increase in adjusted noninterest expense compared to the fourth quarter of 2006 was a result of the acquisition of Mercantile and investments in growth initiatives while maintaining disciplined expense management. Adjusted noninterest expense increased compared with the linked quarter reflecting the Yardville acquisition and continued investments in business growth somewhat offset by Mercantile integration expense savings.

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the quarter ended September 30, 2007 was $1.099 billion compared with $1.167 billion in the prior year quarter and $1.040 billion for the second quarter of 2007. Third quarter noninterest expense was $1.058 billion as adjusted compared with $872 million as adjusted for the third quarter of 2006 and $1.025 billion as adjusted for the linked quarter.

The increase in adjusted noninterest expense compared to the third quarter of 2006 was a result of the acquisition of Mercantile and investments in growth initiatives while maintaining disciplined expense management. Adjusted noninterest expense compared with the linked quarter reflected higher marketing expenses for PNC’s branding initiative and continued investments in business growth.

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PNC Reports Third Quarter Diluted EPS of $1.19 and Adjusted EPS of $1.37 – Page 7

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the quarter ended June 30, 2007 was $1.040 billion compared with $1.145 billion in the prior year quarter and $944 million for the first quarter of 2007. Second quarter noninterest expense was $1.025 billion as adjusted compared with $881 million as adjusted for the second quarter of 2006 and $933 million as adjusted for the linked quarter.

The increase in adjusted noninterest expense in the comparisons was largely a result of the acquisition of Mercantile and increased marketing expenses for PNC’s branding initiative. Adjusted noninterest expense compared with the second quarter of 2006 also increased due to investments in growth initiatives that were partially offset by disciplined expense management. Adjusted noninterest expense compared with the first quarter of 2007 also included higher compensation expense related to the growth of customer revenue and a $15 million charge for trust preferred securities called during the second quarter, offset in part by litigation-related insurance recoveries of approximately $21 million.

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the three months ended March 31, 2007 was $1.0 billion, compared with $1.2 billion in the prior year quarter and $969 million for the fourth quarter of 2006. First quarter noninterest expense was $919 million as adjusted, compared with $828 million as adjusted for the first quarter of 2006 and $905 million as adjusted for the fourth quarter of 2006.

The increase in adjusted noninterest expense compared with the first quarter of 2006 was largely a result of increased compensation expenses, investments in growth initiatives and the acquisition of Mercantile. Adjusted noninterest expense increased in the linked quarter comparison due to the Mercantile acquisition, which was substantially offset by disciplined expense management.

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PNC Reports First Quarter Diluted EPS of $1.46 – Page 7

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the three months ended December 31, 2006 was $969 million, compared with the prior year quarter noninterest expense of $1.1 billion, or $870 million as adjusted, and noninterest expense of $1.2 billion, or $872 million as adjusted, for the third quarter of 2006. Also excluding PFPC’s distribution/out-of-pocket expenses noted above, which were $64 million, $32 million and $35 million in the fourth quarter 2006, fourth quarter 2005 and third quarter 2006, respectively, the increases compared with both adjusted quarters would have been approximately $67 million, or 8 percent. The increase was equally driven by increased costs associated with higher staff incentive compensation, including a $16 million one-time payment to non-executive employees, and other expense growth, including the call of trust preferred securities. Noninterest expense as adjusted reflects adjustments related to the impact of certain significant 2006 items and BlackRock equity method of accounting, as listed in the Consolidated Financial Highlights section of this release.

CONSOLIDATED EXPENSE REVIEW

Noninterest expense for the three months ended September 30, 2006 was $1.2 billion, up 2 percent compared with the third quarter of 2005. Noninterest expense increased 3 percent compared with $1.1 billion in the second quarter of 2006. The increases compared with both quarters were driven by $72 million of integration costs associated with the BlackRock/MLIM transaction. Disciplined expense control continues to be a high priority.

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PNC Posts Record Earnings of $5.01 per Share – Page 7

CONSOLIDATED EXPENSE REVIEW

Disciplined expense control held noninterest expense to $1.149 billion for the second quarter of 2006, a 10 percent increase compared with $1.040 billion in the second quarter of 2005. Noninterest expense decreased 2 percent compared with $1.171 billion in the first quarter of 2006. The increase compared with the same quarter of the prior year was driven primarily by performance fee-related compensation expense commensurate with growth at BlackRock and the impact of acquisitions, partially offset by the effects of the One PNC initiative. The decrease from the linked quarter was driven by a decline in performance fee-related expenses at BlackRock.