Recent reports of surface-localized topological superconductivity in trigonal PtBi₂ highlight the importance of understanding its surface electronic structure. We investigate the bulk and surface band structure of PtBi₂ using angle-resolved photoemission spectroscopy (ARPES) and first-principles calculations. Through photon-energy- and polarization-dependent measurements, we disentangle bulk dispersions from surface states on the two distinct surface terminations of PtBi₂(0001). For both terminations, we assign several different surface states and find good agreement between experiment and calculations. Based on our calculations, we analyze the orbital composition in the surface and bulk bands and compare the results to polarization-dependent ARPES measurements. Together, our results provide a coherent picture of the surface electronic structure of PtBi₂ across both surface terminations.