Stakeholder Engagement Allows for Continuous Improvement

Channels and Frequency

• 35 corporate town halls per year 
• Pre- and post-corporate town hall surveys 
• Bi-annual employee engagement surveys, including VoiceEx, which measures an employee’s likelihood of recommending PNC as an employer
• Daily articles, regular videos and employee polls published on PNC News Online (intranet) and Just for Managers (an intranet page dedicated to managers), both of which allow readers to rate content
• PNC News Online feedback mailbox
• PNC’s online collaboration network, which includes forums, blogs, wikis, communities, microblogging and file sharing
• Annual surveys (through PNC’s materiality analysis, among other initiatives)

Key Topics and Concerns

• Benefits 
• Development opportunities
• The company’s leadership

Response to Topics and Concerns

• PNC’s benefits are competitive with those of our peers and position the company for future growth.
• We are always listening to our employees and work hard to recognize and reward their accomplishments.
• We provide numerous development tools and opportunities to help employees at all levels grow their careers at PNC.
• PNC provides managers with the tools and resources they need to drive business results, manage risk and develop diverse teams. 
• PNC Leadership Standards, which chart the course for every PNC manager, set clear expectations and hold managers accountable to certain behaviors that ensure that PNC meets the demands of a dynamic business environment.

Channels and Frequency

• Daily interactions on social media (Facebook, Twitter, LinkedIn, Instagram) 
• Daily interactions on PNC Live Chat 
• Daily customer transaction surveys 
• Quarterly qualitative research, including focus groups, ideation sessions and one-on-one interviews 
• Daily phone calls facilitated by PNC Customer Care
• Branch and relationship manager interactions
• Interviews

Key Topics and Concerns Raised

• Customer feedback regarding our people, products, services and business practices is rigorously gathered and analyzed on an ongoing basis by a variety of internal and external sources. Our VoiceCX program allows us to obtain feedback directly from our customers following their experiences with us. The insight we gain is valuable and used to help inform our decisions in serving our customers today and in the future.

Response to Topics and Concerns

• Concerns raised through our customer interactions are monitored and tracked and are appropriately managed by dedicated teams that follow specific processes and procedures to respond to and resolve issues. 
• Concerns raised through our Office of the Customer are addressed and/or shared with the appropriate business leaders for final resolution.

Channels and Frequency

• Daily emails and phone calls 
• Dedicated websites for various community programs (e.g., PNC Grow Up Great) 
• Highlights of community partners and initiatives on PNC social media channels 
• Regular evaluations to identify program successes and areas for improvement 
• Focus groups to help research and develop educational materials, messages and strategies

Key Topics and Concerns

• Revitalizing our urban cores, where people increasingly want to live and work, remains a topic of interest in the communities we serve. PNC is frequently approached to provide financial and civic support for programs that ensure equitable development benefitting lower-income residents and quality of life, including the arts, culture, education, and economic and workforce development.

Response to Topics and Concerns

• Feedback received through PNC’s evaluations and focus groups, among other channels, impacts grant and programming decisions. PNC consults both its own and outside experts when solutions may involve financial services. For example, PNC Community Development Banking convenes regional advisory councils comprised of local community and bank leaders to discuss the needs of low- and moderate-income households and communities. These discussions often drive PNC’s support of community initiatives, project financing, and product and services enhancement.

Channels and Frequency

• Quarterly earnings materials and conference calls
• Investor conferences and presentations
• Investor meetings
• Annual meeting of shareholders
• SEC filings
• Investor outreach

Key Topics and Concerns Raised

• Interest rates and financial markets 
• Economic environment
• Government regulation and policy 
• Competition 
• Expansion to new markets and digital platforms 
• Positive operating leverage 
• Loan growth 
• Expense management 
• Capital and liquidity management 
• Credit quality 
• Technology and data security 
• Operational risk

Response to Topics and Concerns

PNC regularly and proactively communicates and facilitates a clear understanding of the company’s strategic direction and resulting financial performance. We seek to understand and address our shareholders’ interests and concerns in a timely manner through our public written and verbal shareholder communication channels.

Channels and Frequency

• Ongoing dialogue between senior leaders and regulators and federal, state and local government officials
• Regular interactions through Government Relations and Regulatory Affairs teams
• Participation in government-sponsored events and initiatives
• Regular communication between PNC's Executive Committee and Regional Presidents and government officials
• Participation in government outreach activities arranged by industry groups, including the American Bankers Association 

Key Topics and Concerns 

• Capital and financial strength
• Availability of, and fair access to, credit and banking services
• Community reinvestment
• Compliance with laws and regulations, including the laws governing money laundering and terrorist financing

Response to Topics and Concerns

• PNC maintains strong capital and liquidity positions. 
• PNC provides businesses and consumers across its geographies access to a wide array of competitively priced lending and deposit services. 
• PNC maintains robust, enterprise-wide fair lending, Bank Secrecy Act, Anti-Money Laundering, sanctions and consumer compliance programs.
• PNC Bank received an "Outstanding" rating under the Community Reinvestment Act.

Channels and Frequency

• Daily emails and phone calls
• Quarterly, annual and biannual meetings during which PNC business leaders and executives meet with suppliers
• PNC’s Supplier Diversity Portal
• Interviews (through PNC’s materiality analysis, among other initiatives)
• PNC’s Enterprise Third-Party Management program

Key Topics and Concerns

• The key concerns raised by our suppliers relate to the legal terms and conditions contained in PNC Master Agreements. Specifically, the insurance levels and indemnification language that PNC and other large companies typically require of their suppliers may be unnecessary, irrelevant or challenging for smaller suppliers and engagements. Suppliers also voice concerns regarding the due diligence and ongoing monitoring activities they must complete prior to and while working with PNC.

Response to Topics and Concerns

• In response to suppliers’ concerns, PNC has created a short-form agreement that addresses lower-risk and lower-spend engagements whereby PNC can satisfy its risk mitigation obligations with less onerous terms and conditions. This agreement has made it easier for small businesses to contract with PNC. Furthermore, while our third-party due-diligence activities are in large part dictated by federal regulation, we work closely with our suppliers to assist them through this process.

Channels and Frequency

• Interactions on social media (Facebook, Twitter, LinkedIn)
• Daily/weekly emails and phone calls
• Regular meetings
• PNC employees’ service on community Boards of Directors

Key Topics and Concerns

• Non-Governmental Organizations are most concerned with raising capital and better serving their communities. 

Response to Topics and Concerns

• PNC often responds by providing volunteer assistance and financial resources.

In alignment with our commitment to strengthen our communities and better support our employees and customers, PNC holds a governance position in, and/or provides funding to, various industry groups and coalitions, including:

• American Association of People with Disabilities 
• Association of African American Financial Advisors 
• Association of Latino Professionals for America 
• Bank Administration Institute 
• Bank Policy Institute (formed by the merger of the Clearinghouse and Financial Services Roundtable) 
• Commercial Real Estate Council 
• Consortium for Public Education 
• Consumer Bankers Association 
• Forté Foundation 
• Global Business Coalition on Education 
• Human Rights Campaign 
• Mortgage Bankers Association 
• National Center for Women & Information Technology 
• National Futures Association 
• Out & Equal Workplace Advocates 
• Recruit Military 
• U.S. Chamber of Commerce Center for Capital Markets Competitiveness
• U.S. Chamber of Commerce Corporate Citizenship Center
• U.S. Hispanic Chamber of Commerce
• U.S. Green Building Council 

While the nature of our engagement varies by organization, PNC strategically supports and affiliates itself with groups and coalitions that share a similar vision and set of values. As a company focused on diversity & inclusion, for example, we strongly believe in the Human Rights Campaign's (HRC) mission and joined the HRC's Business Coalition for Equality Act. This coalition consists of a group of leading U.S. employers that supports the Equality Act, federal legislation that would provide the same basic protections to members of the LGBTQ+ community as are provided to other protected groups under federal law.

Similarly, PNC's work with the U.S. Chamber of Commerce Corporate Citizenship Center, which helps businesses drive positive environmental and social impacts, reflects our commitment to addressing environmental, social and governance issues and opportunities. In 2018, PNC Accessibility Officer Greg Pollock participated in a panel on the importance of disability inclusion at the Corporate Citizenship Center's annual conference.

Our partnerships with these and other organizations are mutually-beneficial, as they leverage PNC's unique resources to help drive positive impact while introducing us to valuable connections and best practices.

PNC’s CSR Working Group includes more than 60 employees from across the bank whose roles directly support the company’s sustainability commitment. These employees represent Community Affairs, Legal, Investor Relations, Human Resources, Credit Portfolio Strategy, Responsible Investing, Women’s Business Development, Community Development Banking and Realty Services, among other lines of business and support functions. The CSR Working Group meets quarterly to discuss major ESG updates and to provide employees with an opportunity to showcase their respective work.

Not only does this approach foster engagement, but it facilitates cross-functional collaboration and promotes greater awareness of what is occurring across the organization.