Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 38

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 38
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| Royal Bank of Canada*  |     |              |     |                                       |     |                                       |
| State Street*          |     |              |     |                                       |     |                                       |
| UBS Group AG*          |     |              |     |                                       |     |                                       |
| US Bancorp             |     |              |     |                                       |     |                                       |

* G-SIBs

The HRC assesses the appropriateness of the peer groups each year, with input from Meridian. As part of the shareholder engagement process, we also received shareholder feedback on our Financial Performance Peer Group. For 2024, the HRC reviewed the Financial Performance Peer Group and considered several factors such as business model, risk profiles and regulatory framework, including the impact on capital and liquidity across the banks. Following the review, the HRC removed three non-U.S. banks (Royal Bank of Canada, Banco Santander, S.A., and BNP Paribas S.A.) from the 2025 Financial Performance Peer Group, for awards granted in 2025 for performance year 2024, to increase focus on domestic financial institutions and more closely align with how our primary domestic peers identify their peer institutions. The HRC also evaluated adding certain U.S. regional banks to the Financial Performance Peer Group, but determined that it remained appropriate to include only G-SIBs due to differences in capital and liquidity rules and business mix.

The HRC did not change the Labor Market Peer Group for 2024. The Labor Market peer constituents continue to represent the financial services organizations with whom we compete most directly for executive talent.

#### 48Wells Fargo & Company

#### Executive Compensation
Pay-for-Performance Compensation Structure for our CEO and other NEOs

Variable compensation for our CEO and other NEOs is performance-based and at risk and is delivered through an annual cash bonus and long-term equity. The following table provides additional details on the three main elements of CEO and other NEO compensation: (1) base salary, (2) annual cash bonus, and (3) long-term equity awards. Compensation mix percentages in the table below were calculated based on 2024 performance year compensation outcomes.

| Type                    |     | Pay Element       |     | % of Total Comp |     |             |     | Vehicle                                                                                                                                                                  |     | Objectives and Key Features                                                                                                                                                                                                         |
|                         |     | Base Salary       |     |                 |     |             |     | Cash                                                                                                                                                                     |     | •Provides fixed compensation to attract and retain