Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 22

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 22
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 the Board reviews and approves the Company’s strategic plan.

• The Board meets annually with its primary bank regulators, and the independent Chair of our Board and the chairs of certain of its committees, as well as the chair of the Bank Board, meet individually with our bank regulators.

• Our independent Board Chair Steven D. Black has extensive risk management experience. He engages with our regulators, shareholders, and others, seeks to incorporate risk and regulatory topics in regular discussions between the Board and management, and provides input on the composition of the Board and its committees so that each has the diversity of skills and experiences necessary to oversee our risks.

Role of Board Committees

The Board carries out its risk oversight responsibilities through its committees. Each Board committee is responsible for overseeing risks within its purview. All of our standing Board committees, which are comprised solely of independent directors, report to the Board about their activities, including risk oversight-related matters. Each Board committee has defined authority and responsibilities for primary oversight of specific risks, as outlined in its respective charter, and works closely with management to understand and oversee our Company’s key risks. Each Board committee may delegate certain of its oversight responsibilities to a subcommittee to assist in its duties.

In addition to the risk oversight structure at the parent level, the board of directors of the Company’s principal banking subsidiary, WFBNA, has established the Regulatory Compliance Oversight Committee ( RCOC ) and the BSA/AML Compliance Committee ( BACC ). The RCOC and BACC each oversee compliance with certain regulatory consent orders and other enforcement actions for which oversight has been delegated by either the Board or the Bank Board.

#### 34Wells Fargo & Company

#### Board and Governance Matters
| Board Oversight                                                                                                                                                                                                                                                                                                                                                                                                                                                      |     |                                                                                                      |     |                                                                                                                                                  |
| The Board oversees significant risks, including financial risks, such as interest rate, credit, liquidity, and market risks, and non-financial risks, such as operational (which includes compliance and model risks), strategic and reputation risks. The Board is also responsible for holding senior management accountable for implementing the Company’s strategic plan and risk tolerance and maintaining the Company’s risk management and control framework. |     |                                                                                                      |     |                                                                                                                                                  |
| Audit                                                                                                                                                                                                                                                                                                                                                                                                                                                                
 •Financial statement integrity and financial reports                                                                                                                                                                                                                                                                                                                                                                                                                 
 •Legal and regulatory compliance                                                                                                                                                                                                                                                                                                                                                                                                                                     
 •Material legal matters                                                                                                                                                                                                                                                                                                                                                                                                                                              
 •Internal controls over financial reporting                                                                                                                                                                                                                                                                                                                                                                                                                          
 Finance                                                                                                                                                                                                                                                                                                                                                                                                                                                              
 •Financial risk management policies relating to market risk, interest rate risk