Company: WFC-PC
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000072971-25-000090
Chunk: 6

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 6
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 the underlying topics of interest with Board committees reviewing shareholder proposals related to the matters they oversee. We seek to engage with all proponents and other shareholders on matters of interest to them.

#### 2025 Proxy Statement1

#### Shareholder Engagement
Our Response to Key Topics Discussed Following the 2024 Annual Meeting

| What We Heard                                                                                                                                                                                                                                       |     | Our Board’s Perspectives and What We Are Doing                                                                                                                                                                                                                                                                                                                                                                                                            |
| Risk and Regulatory Oversight                                                                                                                                                                                                                       |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| •Interest in understanding more about the Board’s oversight of risk and regulatory matters.                                                                                                                                                         |     | For more information on the Board’s role and oversight responsibilities, seeTheBoard’s Oversight of Strategy and Risk Management.                                                                                                                                                                                                                                                                                                                         |
| Board Composition, Refreshment and Evaluation                                                                                                                                                                                                       |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| •Interest in the Board’s composition and refreshment process.                                                                                                                                                                                       |     | For more information on the Board’s composition and succession planning, seeBoard Composition, Qualifications, and Experience.                                                                                                                                                                                                                                                                                                                            |
| Workplace Culture and Efforts to Prevent Harassment and Discrimination                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| •Shareholders largely expressed broad support for our ongoing responsiveness and work on this matter. Shareholders generally did not focus on disclosure of specific metrics, including those metrics requested by the prior shareholder proposals. |     | •Support for 2024 shareholder proposal on workplace harassment and discrimination dropped by more than 24 percentage points from 2023, when a similar proposal received majority support. Following the 2023 annual meeting, we sought shareholder feedback, and provided additional disclosure about Board oversight of human capital risk and human capital management and our modified framework to prevent and address harassment and discrimination. 
 •We view the subsequent 2024 voting outcome as a reflection of our efforts to address this topic appropriately and in a manner consistent with shareholder feedback.                                                                                                                                                                                                                                                                                      
 For more information, seeKey Areas of Board Oversightand our Statement in Opposition toItem4.                                                                                                                                                                                                                                                                                                                                                             |
| Public Policy Advocacy                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| •Shareholders generally did not convey expectations for the reporting requested by prior shareholder proposals.                                                                                                                                     |     | •A 2024 shareholder proposal on political spending congruency did not receive majority support, with a decline in support from a similar proposal in 2023. This aligns with positive shareholder feedback we received on recent disclosure enhancements.                                                                                                                                                                                                  
 •We continue to review and enhance our public disclosures when