Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 7

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 7
---
 appropriate, and by the end of 2025 we will make further enhancements related to, among other things, our public policy priorities and federal lobbying reports.                                                                                                                                                                                                                           
 For more information, see our Statement in Opposition toItem 5.                                                                                                                                                                                                                                                                                                                                                                                           |

| Climate                                                                                                                                                                                                                                         |     |                                                                                                                                                                                                                                                                                                                                                                 |
| •Shareholders expressed mixed perspectives on banks independently calculating and disclosing an energy supply ratio, with some concerns about lack of comparability and no consensus perspective on the utility of this ratio for shareholders. |     | •Our approach to financing is focused on client needs across a broad range of sectors of the U.S. economy. We continue to review our sustainability priorities to assess continued suitability for our business.                                                                                                                                                
 •We proactively engaged with shareholders to understand their views on this topic. In consideration of our client-centric approach and practices, as well as existing third-party estimates that allow for comparability, we determined that it is not in the best interest of shareholders for Wells Fargo to independently calculate and disclose this ratio. 
 For more information, see our Statement in Opposition toItem 6.                                                                                                                                                                                                                                                                                                 |

| Respect for Indigenous Peoples                                                                                  |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| •Shareholders generally did not convey expectations for the reporting requested by prior shareholder proposals. |     | •A 2024 shareholder proposal on respect for Indigenous Peoples’ rights did not receive majority support, with a decline in support from a similar proposal in 2022. Based on our engagement with shareholders, we believe our existing approach and disclosures related to this topic are responsive to shareholder feedback in a manner that is appropriately aligned with our strategic and risk priorities. 
 For more information, see our Statement in Opposition toItem 7.                                                                                                                                                                                                                                                                                                                                                |

#### 2Wells Fargo & Company
Board and Governance Matters

| Item 1                                                                                                     |
| Election of Directors                                                                                      |
| Our Board recommends that you voteFORthe election of each of the 13 director nominees for a one-year term. |

Director Nominees for Election

• Our Board believes the 13 director nominees bring the right mix of professional experiences, capabilities, and diverse perspectives to provide effective oversight and governance of our Company’s strategy and risk management – including our top priority, which is to continue building an appropriate risk and control infrastructure.

• Our Board composition reflects a thoughtful process informed by the Board’s own comprehensive annual self-evaluation and feedback received from shareholders. In addition, our Board has policies establishing a director retirement age and limitation on other public company board service.

• All