<Page>1

                         [PVF CAPITAL CORP. LETERHEAD]




                                 April 30, 2007




Mr. Umberto Fedeli
The Fedeli Group
Crown Centre Building
P.O. Box 318003
Independence, OH 44131

Dear Umberto:

      After reviewing your most recent Amendment No. 2 to Schedule 13D filed on
April 19, 2007, I am writing on behalf of the Board of Directors of PVF Capital
Corp. ("PVF") to further clarify our recent correspondence with you regarding
your request that the Board of Directors of PVF approve any purchase of shares
by you which would result in your becoming an "interested shareholder" as
defined in Chapter 1704 of the Ohio Revised Code ("Chapter 1704").

      As you know, Chapter 1704 provides that once a shareholder of a
corporation becomes an "interested shareholder," defined generally as a person
who exercises 10% of the corporation's voting power, the corporation may not
engage in certain specified transactions with that shareholder or an entity
affiliated or associated with that shareholder for a period of three years. The
types of transactions that are subject to the three-year prohibition generally
involve transactions directly with the interested shareholder or his or her
affiliates or associates, such as a merger of the corporation with an entity
that is affiliated or associated with the interested shareholder. After that
three-year period, if the corporation were to engage in such a transaction with
the interested shareholder or his affiliate or associate, the transaction would
have to be approved by a two-thirds vote of the corporation's shareholders or
the proposed transaction would have to meet other requirements designed to
ensure that the corporation's other shareholders receive fair consideration in
the transaction.

      The purpose of Chapter 1704 is to protect the shareholders of an Ohio
corporation by preventing a person from acquiring significant voting power in a
corporation and then using that voting power to force on the remaining
shareholders a transaction that benefits the large shareholder to the detriment
of the remaining shareholders of the corporation.

      In your letter of March 21, 2007, you requested that the Board of
Directors of PVF Capital Corp. approve any purchase of shares by you which would
result in your becoming an "interested shareholder" as defined in Chapter 1704.
However, you did not provide the Board of Directors with any information
regarding the transaction you propose involving PVF and you or your affiliated
or associated entity should you purchase additional PVF common stock and become
an "interested shareholder." You merely stated, "...[I] am contemplating
continued purchases of shares that would result in my ownership interest

<Page>2

increasing to in excess of 10% of the outstanding shares." You also stated that,
"I am also willing to engage in discussions with PVF which would allow me to
significantly increase my ownership." These statements are exceedingly vague and
provide no specific proposals for a transaction of the type covered by Chapter
1704. If the Board of Directors were to approve your request, they would deprive
the other shareholders of the important shareholder protections of Chapter 1704
without having any knowledge of a specific transaction you propose involving PVF
and you or your affiliated or associated entity and whether any such transaction
might or might not be in the best interests of PVF and all the shareholders.

      I cannot imagine how you could expect the PVF Board of Directors to agree
to deprive the holders of 94% of PVF's stock of the protections of Chapter 1704
to help you, a 6% shareholder, pursue an undisclosed transaction with PVF
without having the slightest detail as to the specifics of the transaction.
PVF's Board of Directors has the legal obligation to make informed decisions
that would be in the best interests of all the shareholders.

      We note that in your recent amendment to Schedule 13D, you stated, "Mr.
Fedeli regrets the decision of the Company's board [not to approve purchases
under Chapter 1704] and believes it is not in the best interests of shareholders
to in any way limit or restrict the ability of a shareholder who has expressed
an interest in the Company to purchase additional Shares." Your assertion that
PVF's Board has restricted your ability to purchase additional shares, is, of
course, not true. The Board of Directors did not in any way limit or restrict
your ability to purchase additional shares of PVF stock. Like any shareholder,
you are free to buy as much PVF stock in the open market as you desire, subject
to the same federal banking laws to which all investors are subject. Rather, the
Board of Directors simply declined to remove the shareholder protections
afforded by Chapter 1704 in the absence of any specific proposal that would
warrant removal of those protections. As you yourself stated in the preceding
paragraph of your Schedule 13D amendment, "Absent board approval, Mr. Fedeli may
still acquire more than 10% of the outstanding Shares but may, as an "interested
shareholder," be limited in engaging in certain transactions with the Company."

      We further note that under Securities and Exchange Commission regulations,
you are required to disclose in Schedule 13D any plans or proposals you have
that relate to or would result in, among other things, your acquisition of
additional shares of PVF securities, an extraordinary corporate transaction,
such as a merger, reorganization or liquidation, involving PVF, or a sale of a
material amount of assets by PVF. As you have not disclosed any such plans or
proposals in your Schedule 13D filings, the Board of Directors can only assume
you have no such plans or proposals. If this is the case, there simply would
appear to be no need for the Board of Directors of PVF to act on your request,
and you may continue to purchase PVF shares in the open market just like any
other shareholder. On the other hand, if you have a plan or proposal of the
nature described above or that is covered by Chapter 1704, then we request that
you disclose any such plan or proposal, as required by the federal securities
laws, so that the Board of Directors may consider your proposal in light of the
best interests of PVF and all the shareholders.

                                    Sincerely,

                                    /s/ John R. Male

                                    John R. Male
                                    Chairman of the Board