Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 99

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 99
---
 the 2024 and 2023 Proposals, the vote results, shareholder feedback and the current proposal. All of this information has informed the Board’s recommendation against this proposal.

#### 2025 Proxy Statement103

#### Shareholder Proposals
Board and Committee Oversight

We believe we have appropriate oversight of our political and lobbying activities. The applicable Board committee assists our Board in overseeing social and public responsibility matters. To that end, the Board’s committees oversee our significant strategies, policies, and programs on government relations. The Board’s committees also monitor and receive updates on significant public policy developments, and in 2024, the CRC received an update from the Head of GRPP on the following matters:

• our political activities and contributions, significant lobbying priorities, principal trade association memberships, and public policy priorities;

#### •

#### our significant public policy priorities; and
• our PACs, for which we have established and published criteria guiding our decision-making for supporting candidates.

At the management level, our GRPP team is responsible for managing the development and execution of strategies that advance our public policy priorities. The Head of GRPP reports to the Head of Public Affairs, who is a direct report to our CEO.

Enhanced Disclosures

Our GRPP website already includes significant disclosures related to political and public policy contributions, including:

• a link to the government website that houses our quarterly federal lobbying filings, which publicly disclose to Congress the amount of our lobbyists’ federal lobbying expenditures and the issues on which they have lobbied;

• the principal financial services industry trade associations that receive membership dues from Wells Fargo;

#### •

#### payments made to 527 Organizations;
• a summary of the most recent campaign contributions of Wells Fargo’s PACs; and

• ballot initiative contributions in amounts exceeding $25,000.

We review the public disclosures on our GRPP website annually, and enhance them when appropriate, taking into account factors such as regulatory and legal developments, market practice, other external developments, and engagement with our shareholders and other stakeholders.

For example, by the end of 2025, we will further enhance the disclosures on our GRPP website to include, among other things:

• our public policy priorities that inform our advocacy and participation in the public policy process;

• instructions for accessing Wells Fargo federal lobbying reports; and

• a statement clarifying that we restrict 501(c)(4) Organizations from using payments to support or oppose any candidate for U.S. federal, state, or local office and receive attestation letters confirming use of payments is consistent