Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 21

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 21
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 management                                                                                                                                             
 •Work in consultation with management in setting the Board and committee meeting agendas and schedules                                                                                                                                                                                                                                                                         |

#### 2025 Proxy Statement33

#### Board and Governance Matters

### The Board’s Oversight of Strategy and Risk Management
Our Board oversees the Company’s business, including its strategic plan and risk management. The Board’s role in this regard is to assess management’s performance and provide credible challenge. Our Board is also responsible for holding senior management accountable for maintaining an effective risk management program and adhering to risk management expectations, including mai ntaining a culture designed to effectively manage risk, and providing effective reporting to the Board. Specifically, the Board’s risk-related oversight responsibilities include reviewing, monitoring and, where appropriate, approving:

• Our strategic plan, risk appetite, risk management framework, and financial performance;

• Our significant policies, programs, and plans, including whether they are consistent with our strategic plan, risk appetite, and risk management;

• Accountability of senior management for implementing the Company’s strategic plan, including risk appetite, and maintaining the Company’s risk management and control framework;

• Board composition, governance structure, and practices that support the Company’s risk profile, risk appetite, and strategic plan, including having directors with diverse skills, knowledge, experience, and perspectives;

• Our independent risk management (including compliance), legal, and internal audit functions; and

• Our culture of ethics, compliance, and risk management, and the processes adopted by senior management for maintaining the integrity and reputation of the Company.

When reviewing risks, the Board evaluates the materiality and control effectiveness of risks and may modify the frequency or manner of its oversight to match the impacts of risks facing the Company.

The Board’s Focus on Risk Oversight and Regulatory Matters

The Board’s oversight of risk and regulatory matters is a primary focus at our Board and Board committee meetings, in order to provide for effective challenge to management when necessary. In support of this:

• At each of the eight regularly scheduled Board meetings in 2024, the meeting included a discussion of significant risk and regulatory matters with senior executives, including our CEO, CFO, CRO, COO, Chief Auditor, and General Counsel.

• The Board, either directly or through its committees, periodically receives updates from line of business CEOs and enterprise function heads, which include significant risks and issues relevant to the business group or enterprise function. The Board also receives reports from its standing committees at each regular Board meeting.

• The Board receives Independent Risk Management’s evaluation of risks that may be associated with the Company’s strategic plan when