Company: WFC-PC
Filing Date: 2025-04-18
Form Type: PX14A6G
Source: 0001999371-25-004409
Chunk: 2

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-18
Form: PX14A6G
Chunk 2
---
 expected to bring any risks related to these
matters to the attention of the Risk Committee. As Chair of the Risk Committee and Chair of the Governance and Nominating Committee, Maria R. Morris and Wayne M. Hewett, respectively, bear the most responsibility for Wells Fargo’s about-face on climate targets.

Additional Item: Vote FOR the Shareholder Proposal on the Energy Supply Ratio (Item 6)

Wells Fargo remains committed to its goal of deploying $500 billion in
sustainable finance by 2030.
However, given Wells Fargo’s backpedaling on financed emissions targets, investors have reason to be concerned that the company’s
financing of low-carbon energy sources will be undermined by unconstrained investment in fossil fuels. Periodic disclosure of an Energy Supply Ratio metric will provide shareholders much-needed insight into shifts in the composition of Wells Fargo’s energy investment at a time when the company is no longer committed to its net-zero ambition.

We are not soliciting authority to vote your proxy, and no proxy cards will be accepted. Vote your proxy in accordance with the instructions in Wells Fargo's proxy statement.

Wells Fargo, “Sustainability – “Statement on Wells Fargo’s Climate Goals & Targets (February 25, 2025),” https://www.wellsfargo.com/about/responsibility-and-impact/sustainability/ (accessed April 15, 2025).

Ibid; Wells Fargo, Climate Report, August 2024, https://www08.wellsfargomedia.com/assets/pdf/about/corporate-responsibility/climate-disclosure.pdf, p. 13.

Adele Shraiman and Ben Cushing, Capital Markets: The hidden pipeline for fossil fuel financing, Sierra Club,July 2023, https://www.sierraclub.org/sites/default/files/2023-07/Sierra-Club-Capital-Markets-Report.pdf, p. 10.

“Wells Fargo departs climate banking group in another high-profile exit after Goldman,” Reuters, December 20, 2024, https://www.reuters.com/sustainability/sustainable-finance-reporting/wells-fargo-departs-climate-banking-group-another-high-profile-exit-after-2024-12-20/ (accessed April 15, 2025).

Simon Jessop, Isla Binnie and Ross Kerber, “Leading U.S. banks leave ESG project finance group,” Reuters, March 6, 2024, https://www.reuters.com