Company: WFC-PC
Filing Date: 2025-06-06
Form Type: S-3
Source: 0001193125-25-137239
Chunk: 175

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-06-06
Form: S-3
Chunk 175
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 loss will be recognized for federal income tax purposes upon the withdrawal of preferred stock in 
 exchange for depositary shares as provided in the deposit agreement;                                         |

| ● |     | the tax basis of each share of preferred stock to an exchanging owner of depositary shares will, upon the         
 exchange, be the same as the aggregate tax basis of the depositary shares exchanged for such preferred stock; and |

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| ● |     | the holding period for the preferred stock, in the hands of an exchanging owner of depositary shares who held the                    
 depositary shares as a capital asset at the time of the exchange, will include the period that the owner held the depositary shares. |

Amendment and Termination of the Deposit Agreement The form of depositary receipt evidencing the depositary shares and any provision of the deposit agreement may be amended by agreement between us and the depositary at any time. However, any amendment that materially and adversely alters the rights of the existing holders of depositary shares will not be effective unless approved by the record holders of at least a majority of the depositary shares then-outstanding (or, in the case of such amendments relating to or affecting rights to receive dividends or distributions or voting or redemption rights, two-thirdsof the holders). A deposit agreement may be terminated by us or the depositary only if:

| ● |     | all outstanding depositary shares relating to the deposit agreement have been redeemed; or |

| ● |     | there has been a final distribution on the preferred stock of the relevant series in connection with our                                          
 liquidation, dissolution or winding up of our business and the distribution has been distributed to the holders of the related depositary shares. |

Charges of Depositary We will pay all transfer and other taxes and governmental charges arising solely from the existence of the depositary arrangements. We will pay associated charges of the depositary for the initial deposit of the preferred stock and any redemption of the preferred stock. Holders of depositary shares will pay transfer and other taxes and governmental charges and any other charges that are stated to be their responsibility in the deposit agreement. Miscellaneous We will forward to the depositary, for distribution to the holders of depositary shares, all reports and communications that we must furnish to the holders of the preferred stock. Neither the depositary nor we will be liable if the depositary is prevented or delayed by law or any circumstance beyond its control in performing its obligations under the deposit agreement. Our obligations and the depositary’s obligations under the deposit agreement will be limited to