Page 4 of 6 Pages
ITEM 4 - OWNERSHIP:
The following information is as of
December 31, 2021:
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(a) Amount Beneficially Owned:
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3,777,750 shares
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(b) Percent of Class:
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10.95
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(c) Number of shares to which such person has:
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(i) sole power to vote or to direct the vote
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3,777,750
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(ii) shared power to vote or to direct the vote
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-0-
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(iii) sole power to dispose or to direct the disposition of
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3,777,750
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(iv) shared power to dispose or to direct the disposition of
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-0-
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The PNC Financial Services Group, Inc. (“PNC”) owns 3,777,750 shares of Class B common stock, par value
$0.0001 per share (“Class B Common Stock”) of Empowerment & Inclusion Capital I Corp. (the “Issuer”), which are convertible into shares of Class A common stock, par value $0.0001 per
share (“Class A Common Stock”) of the Issuer, as described under the heading “Description of Securities—Founder Shares” in the Issuer’s registration statement on Form S-1 (File No. 333-251613) (the “Registration Statement”) and have no expiration date.
Amount beneficially owned excludes 4,062,450 shares of Class A Common Stock issuable upon the exercise of 4,062,450 private placement warrants of the
Issuer. Each private placement warrant is exercisable to purchase one shares of Class A Common Stock at a price of $11.50 per share, subject to adjustment, becomes exercisable 30 days after the completion of the Issuer’s initial business
combination and expires five years after the completion of the Issuer’s initial business combination, or earlier upon redemption or liquidation, as described under the heading “Description of Securities—Redeemable Warrants” in
the Registration Statement.
Percent of class is based on an aggregate of 34,500,000 shares of common stock outstanding, consisting of 27,600,000 shares
of Class A Common Stock and 6,900,000 shares of Class B Common Stock outstanding as of November 12, 2021, as reported by the Issuer in its quarterly report on Form 10-Q filed with the U.S.
Securities and Exchange Commission for the quarter ended September 30, 2021.
ITEM 5 - OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
Not Applicable.
ITEM 6 - OWNERSHIP OF MORE THAN
FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
Not Applicable.
ITEM 7 - IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
Included is the following subsidiary of The PNC Financial Services Group, Inc.:
PNC Investment Capital Corp. – HC (wholly owned subsidiary of The PNC Financial Services Group, Inc.)