Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 8

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 8
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 nominees are currently directors of Wells Fargo & Company and were last elected by our shareholders at the 2024 annual meeting.

• Our Board continues to be led by an independent chair providing for appropriate leadership and oversight.

• All nominees are independent except our CEO, and all standing committee members are independent.

• 54% of our director nominees and 51% of our committee chairs are gender and/or racially/ethnically diverse, 38% of our director nominees are women and 31% of our director nominees are racially/ethnically diverse.

• Our Board and committee members are actively engaged, with 56 total meetings 1 in 2024 and an average attendance over 99%.

• We have a consistent annual shareholder engagement program.

| 100%                            
 director nominees               
 have risk management experience |     | 50%                                     
 independent director nominees           
 are new to the Board in last five years |

Directors are elected at each annual meeting of shareholders and hold office until the next annual meeting of shareholders and until their successors are duly elected and qualified. Each nominee has consented to being named in this Proxy Statement and has agreed to serve if elected. If a nominee is unable to stand for election, the Board may either reduce the number of directors to be elected or select a substitute nominee. If a substitute nominee is selected, the proxy holders may vote your shares for the substitute nominee.

1. In 2024, the Credit Subcommittee was reintegrated into the Risk Committee.

#### 2025 Proxy Statement3

#### Board and Governance Matters
Board Composition, Qualifications, and Experience

Board Succession Planning Framework

Our Board conducts formal succession planning annually and has adopted a Board Succession Planning Framework to assist the Board in this process. Our Board’s succession planning process is designed to align the Board’s composition with the Company’s needs as its strategy, risk appetite, and risk profile evolve. Key factors considered in this annual evaluation are discussed in the table below.

| Factor Considered                                                              |     | What the Board Evaluates                                                                                                                                                                                                                     |
| Company Strategy and Risks                                                     |     | •How current and evolving risks may create needs for particular qualifications and experience on the Board and its committees, including relevant banking, bank regulatory, and other financial services experience                          |
| Essential Skills and Expertise                                                 |     | •Mix of skills, knowledge, experience, and perspectives necessary to support the Company’s strategy and risk profile                                                                                                                         |
| Diversity                                                                      |     | •Mix of backgrounds, industry, professional experience, and other qualities