# EDGAR Filing Document

**Accession Number:** 0000072971
**File Stem:** 0000072971-26-000009
**Filing Date:** 2026-1
**Character Count:** 195546
**Document Hash:** 1d1bc0fbd682f31d88a3833aefe9dfe7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000072971-26-000009.hdr.sgml**: 20260114

**ACCESSION NUMBER**: 0000072971-26-000009

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 43

**CONFORMED PERIOD OF REPORT**: 20260114

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260114

**DATE AS OF CHANGE**: 20260114

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WELLS FARGO & COMPANY/MN
- **CENTRAL INDEX KEY:** 0000072971
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 410449260
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-02979
- **FILM NUMBER:** 26531417

**BUSINESS ADDRESS:**
- **STREET 1:** 333 MARKET STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** 8008693557

**MAIL ADDRESS:**
- **STREET 1:** 333 MARKET STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WELLS FARGO & CO/MN
- **DATE OF NAME CHANGE:** 19981103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NORWEST CORP
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NORTHWEST BANCORPORATION
- **DATE OF NAME CHANGE:** 19830516

?xml version='1.0' encoding='ASCII'? wfc-20260114

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (date of earliest event reported): January 14, 2026

**WELLS FARGO & COMPANY** 

(Exact name of registrant as specified in its charter)

---

| | | | |
|:---|:---|:---|:---|
| **Delaware** | **001-02979** | **No.** | **41-0449260** |
| (State or Other Jurisdiction<br>of Incorporation) | (Commission File<br>Number) | (IRS Employer<br>Identification No.) | (IRS Employer<br>Identification No.) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**333 Market Street, San Francisco, California 94105** 

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: **415-371-2921** 

&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| <u>Title of Each Class</u> | <u>Trading Symbol</u> | <u>Name of Each Exchange <br>on Which Registered</u> |
| Common Stock, par value $1-2/3 | WFC | New York Stock<br>Exchange <br>(NYSE) |
| 7.5% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L | WFC.PRL | NYSE |
| Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Y | WFC.PRY | NYSE |
| Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Z | WFC.PRZ | NYSE |
| Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series AA | WFC.PRA | NYSE |
| Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series CC | WFC.PRC | NYSE |
| Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series DD | WFC.PRD | NYSE |
| Guarantee of Medium-Term Notes, Series A, due October 30, 2028 of Wells Fargo Finance LLC | WFC/28A | NYSE |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

------

**Item 2.02&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition.**

On January 14, 2026, Wells Fargo & Company (the "Company") issued a news release regarding its results of operations and financial condition for the quarter ended December 31, 2025, and posted on its website its 4Q25 Quarterly Supplement, which contains certain additional information about the Company's financial results for the quarter ended December 31, 2025. The news release is included as Exhibit 99.1 and the 4Q25 Quarterly Supplement is included as Exhibit 99.2 to this report, and each is incorporated by reference into this Item 2.02. The information included in Exhibit 99.1 and Exhibit 99.2 is considered to be "filed" for purposes of Section 18 under the Securities Exchange Act of 1934.

**Item 7.01 Regulation FD Disclosure.**

On January 14, 2026, the Company intends to host a live conference call that will also be available by webcast to discuss the Company's fourth quarter 2025 financial results and other matters relating to the Company. In connection therewith, the Company has posted on its website presentation materials containing certain historical and forward-looking information relating to the Company. The presentation materials are included as Exhibit 99.3 to this report and are incorporated by reference into this Item 7.01. Exhibit 99.3 shall not be considered "filed" for purposes of Section 18 under the Securities Exchange Act of 1934 and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Exhibit No. | Description | Location |
| <u>[99.1](wfc4qer01-14x26ex991xrelea.htm)</u> | <u>[News Release dated January 14, 2026](wfc4qer01-14x26ex991xrelea.htm)</u> | Filed herewith |
| <u>[99.2](wfc4qer01-14x26ex992xsuppl.htm)</u> | <u>[4Q25 Quarterly Supplement](wfc4qer01-14x26ex992xsuppl.htm)</u> | Filed herewith |
| <u>[99.3](ex993-wellsfargo4q25pres.htm)</u> | <u>[Presentation Materials – 4Q25 Financial Results](ex993-wellsfargo4q25pres.htm)</u> | Furnished herewith |
| 104 | Cover Page Interactive Data File | Embedded within the Inline XBRL document |

---

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| Dated: | January 14, 2026 | WELLS FARGO & COMPANY | WELLS FARGO & COMPANY |
|  |  | By: | /s/ MUNEERA S. CARR |
|  |  |  | Muneera S. Carr |
|  |  |  | &nbsp;&nbsp;&nbsp;Executive Vice President,<br>Chief Accounting Officer and Controller |

---

## Exhibit 99.1

**Exhibit 99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| ![erwellsfargoimagea061a.jpg](erwellsfargoimagea061a.jpg) | News Release \| January 14, 2026<br>**Wells Fargo Reports Fourth Quarter 2025 Net Income of $5.4 billion, or $1.62 per Diluted Share** <br>**Net income, excluding a notable item, of $5.8 billion, or $1.76 per diluted share**<sup>1</sup> |

---

---

| | | |
|:---|:---|:---|
| **Company-wide Financial Summary** | **Company-wide Financial Summary** | **Company-wide Financial Summary** |
|  | Quarter ended | Quarter ended |
|  | **Dec 31,<br>2025** | Dec 31,<br>2024 |
| **Selected Income Statement Data**<br>($ in millions except per share amounts) |  |  |
| Total revenue | $**21292** | 20378 |
| Noninterest expense | **13726** | 13900 |
| Provision for credit losses<sup>2</sup> | **1040** | 1095 |
| Net income | **5361** | 5079 |
| Diluted earnings per common share | **1.62** | 1.43 |
| **Selected Balance Sheet Data**<br>($ in billions) |  |  |
| Average loans | $**955.8** | 906.4 |
| Average deposits | **1377.7** | 1353.8 |
| CET1<sup>3</sup> | **10.6%** | 11.1 |
| **Performance Metrics** | **Performance Metrics** |  |
| ROE<sup>4</sup> | **12.3%** | 11.7 |
| ROTCE<sup>5</sup> | **14.5** | 13.9 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Operating Segments and Other Highlights** | **Operating Segments and Other Highlights** | **Operating Segments and Other Highlights** | **Operating Segments and Other Highlights** |
|  | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from |
| ($ in billions) | Dec 31,<br>2025 | Sep 30,<br>2025 | Dec 31,<br>2024 |
| **Average loans** |  |  |  |
| Consumer Banking and Lending (CBL)<sup>6</sup> | $329.3 | 1% | 2 |
| Commercial Banking (CB)<sup>6</sup> | 224.0 | 2 | 1 |
| Corporate and Investment Banking | 312.9 | 6 | 14 |
| Wealth and Investment Management | 88.7 | 3 | 6 |
| **Average deposits** |  |  |  |
| Consumer Banking and Lending<sup>6</sup> | 778.6 |  | 1 |
| Commercial Banking<sup>6</sup> | 181.0 | 5 | (2) |
| Corporate and Investment Banking | 214.5 | 5 | 5 |
| Wealth and Investment Management | 134.5 | 6 | 14 |

---

**Capital**

◦ Repurchased 58.2 million shares, or $5.0 billion, of common stock in fourth quarter 2025

**Fourth quarter 2025 notable item:**<br>

◦ $612 million, or $0.14 per share, of severance expense

Chairman and Chief Executive Officer Charlie Scharf commented, "Strong financial performance, removal of the asset cap imposed by the Federal Reserve, termination of multiple consent orders, and stronger growth in both our consumer and commercial businesses make me proud of our 2025 results.<br>We achieved our prior ROTCE<sup>5</sup> target of 15% and have set a new medium-term target of 17-18%. As compared to full year 2024, diluted earnings per share grew 17%, fee-based income grew 5%, credit performance was strong as net charge-offs declined by 16%, and expenses grew less than 1%. We continued to operate with significant excess capital while returning $23 billion to shareholders through $18 billion in common stock repurchases and increasing our dividend per common share by 13% in 2025. <br>We have worked hard to balance short-term performance and investing for long-term success. We have funded significant increased investments in infrastructure and business growth by driving greater savings from efficiencies across the company. Over the past 5 years, gross expense reductions of $15 billion have allowed us to make these investments while reducing the total expense base."<br>"Evidence of increased growth can be seen across the company. In our consumer businesses, credit card continues to see strong increases in spend and new accounts grew over 20% from a year ago. Auto lending returned to growth with balances up 19% from the prior year. Net checking account growth was stronger and deposits and investment balances in our affluent offering – Wells Fargo Premier® – grew 14% from the prior year. Advisory fees in our Wealth and Investment Management business grew 8%. In our commercial businesses, loans grew 12%. Investment banking fees increased 14%. We grew investment banking market share and our M&A ranking increased from 12 to 8," Scharf added.<br>"We have built a strong foundation and have made great progress in improving growth and returns though we have operated with significant constraints. We are excited to now compete on a level playing field and are able to dedicate even more resources to growth with the ability to grow our balance sheet. The dedication and hard work of all those at Wells Fargo has positioned us to enter 2026 in a position of strength and we are excited by the momentum we have and opportunities in front of us," Scharf concluded.<br>

Endnotes are presented on page 9.

------

*Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Annual Report on Form 10-K for the year ended December 31, 2025, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information.*

***Selected Company-wide Financial Information***

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended |
| | **Dec 31,<br>2025** | Sep 30,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 |
| **Earnings ($ in millions except per share amounts)** |  |  |  |  |  |  |  |
| Net interest income | $**12331** | 11950 | 11836 | 3% | 4 | $**47484** | 47676 |
| Noninterest income | **8961** | 9486 | 8542 | (6) | 5 | **36215** | 34620 |
| **Total revenue** | **21292** | 21436 | 20378 | (1) | 4 | **83699** | 82296 |
| &nbsp;&nbsp;&nbsp;*Net charge-offs* | ***1030*** | *954* | *1188* | 8 | (13) | ***3990*** | *4759* |
| &nbsp;&nbsp;&nbsp;*Change in the allowance for credit losses* | ***10*** | *(273)* | *(93)* | 104 | 111 | ***(332)*** | *(425)* |
| Provision for credit losses<sup>1</sup> | **1040** | 681 | 1095 | 53 | (5) | **3658** | 4334 |
| Noninterest expense | **13726** | 13846 | 13900 | (1) | (1) | **54842** | 54598 |
| Income tax expense | **1103** | 1300 | 120 | (15) | 819 | **3841** | 3399 |
| **Wells Fargo net income** | $**5361** | 5589 | 5079 | (4) | 6 | $**21338** | 19722 |
| Diluted earnings per common share | **1.62** | 1.66 | 1.43 | (2) | 13 | **6.26** | 5.37 |
| **Balance Sheet Data (average) ($ in billions)** |  |  |  |  |  |  |  |
| Loans | $**955.8** | 928.7 | 906.4 | 3 | 5 | $**927.5** | 915.4 |
| Deposits | **1377.7** | 1339.9 | 1353.8 | 3 | 2 | **1347.2** | 1345.9 |
| Assets | **2079.8** | 2010.2 | 1918.5 | 3 | 8 | **1986.3** | 1916.7 |
| **Financial Ratios** |  |  |  |  |  |  |  |
| Return on assets (ROA) | **1.02%** | 1.10 | 1.05 |  |  | **1.07%** | 1.03 |
| Return on equity (ROE) | **12.3** | 12.8 | 11.7 |  |  | **12.4** | 11.4 |
| Return on average tangible common equity (ROTCE)<sup>2</sup>  | **14.5** | 15.2 | 13.9 |  |  | **14.6** | 13.4 |
| Efficiency ratio<sup>3</sup> | **64** | 65 | 68 |  |  | **66** | 66 |
| Net interest margin on a taxable-equivalent basis | **2.60** | 2.61 | 2.70 |  |  | **2.64** | 2.73 |

---

***Fourth Quarter 2025 vs. Fourth Quarter 2024***

◦ Net interest income increased 4%, driven by higher loan and investment securities balances, improved results in our Markets business, and fixed rate asset repricing, partially offset by deposit mix changes

◦ Noninterest income increased 5%. Fourth quarter 2024 included $448 million of net losses due to a repositioning of the investment securities portfolio. Fourth quarter 2025 included higher asset-based fees in Wealth and Investment Management (WIM) on higher market valuations, as well as higher card fees, deposit-related fees, and mortgage banking fees, while results from our venture capital investments were lower

◦ Noninterest expense decreased 1%, driven by lower Federal Deposit Insurance Corporation (FDIC) assessment expense, lower operating losses, and the impact of efficiency initiatives, partially offset by higher revenue-related compensation expense primarily in WIM, an increase in advertising expense, and higher technology and equipment expense. Fourth quarter 2025 and 2024 included $612 million and $647 million of severance expense, respectively

◦ Provision for credit losses in fourth quarter 2025 included a slight increase in the allowance reflecting higher commercial and industrial, auto, and credit card loan balances, largely offset by a lower allowance for commercial real estate loans

Endnotes are presented on page 9. 2

------

***Selected Company-wide Capital and Liquidity Information***

---

| | | | |
|:---|:---|:---|:---|
| | | Quarter ended | Quarter ended |
| ($ in billions) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Dec 31,<br>2024 |
| **Capital:** |  |  |  |
| Total equity | $**183.0** | 183.0 | 181.1 |
| Common stockholders' equity | **164.7** | 164.7 | 160.7 |
| Tangible common equity<sup>1</sup>  | **139.2** | 139.1 | 135.6 |
| Common Equity Tier 1 (CET1) ratio<sup>2</sup> | **10.6%** | 11.0 | 11.1 |
| Total loss absorbing capacity (TLAC) ratio<sup>3</sup> | **23.2** | 24.6 | 24.8 |
| Supplementary Leverage Ratio (SLR)<sup>4</sup>  | **6.2** | 6.4 | 6.7 |
| **Liquidity:** |  |  |  |
| Liquidity Coverage Ratio (LCR)<sup>5</sup> | **119%** | 121 | 125 |

---

***Selected Company-wide Loan Credit Information***

---

| | | | |
|:---|:---|:---|:---|
| | | Quarter ended | Quarter ended |
| ($ in millions) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Dec 31,<br>2024 |
| Net loan charge-offs | $**1046** | 942 | 1211 |
| Net loan charge-offs as a % of average total loans (annualized) | **0.43%** | 0.40 | 0.53 |
| Total nonaccrual loans | $**8201** | 7614 | 7730 |
| As a % of total loans | **0.83%** | 0.81 | 0.85 |
| Total nonperforming assets | $**8503** | 7832 | 7936 |
| As a % of total loans | **0.86%** | 0.83 | 0.87 |
| Allowance for credit losses for loans | $**14337** | 14311 | 14636 |
| As a % of total loans | **1.45%** | 1.52 | 1.60 |

---

***Fourth Quarter 2025 vs. Third Quarter 2025***

◦ Commercial net loan charge-offs as a percentage of average loans were 0.22% (annualized), up from 0.18%, driven by higher commercial real estate net loan charge-offs, predominantly in the office portfolio, and higher commercial and industrial net loan charge-offs. The consumer net loan charge-off rate increased to 0.75% (annualized), up from 0.73%, on higher credit card and auto net loan charge-offs

◦ Nonperforming assets as a percentage of total loans were 0.86%, up 3 basis points, driven by higher commercial real estate and commercial and industrial nonaccrual loans, partially offset by lower residential mortgage nonaccrual loans

Endnotes are presented on page 9. 3

------

**Operating Segment Performance**

**<u>Consumer Banking and Lending</u>** offers diversified financial products and services for consumers and small businesses. These financial products and services include checking and savings accounts, credit and debit cards, as well as home, auto, personal, and small business lending.

***Selected Financial Information***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from |
| | **Dec 31,<br>2025** | Sep 30,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 |
| **Earnings (in millions)** |  |  |  |  |  |
| Consumer, Small and Business Banking | $**6591** | 6567 | 6067 | —% | 9 |
| Consumer Lending: |  |  |  |  |  |
| Home Lending | **807** | 870 | 854 | (7) | (6) |
| Credit Card  | **1600** | 1663 | 1489 | (4) | 7 |
| Auto | **282** | 256 | 263 | 10 | 7 |
| Personal Lending | **291** | 294 | 307 | (1) | (5) |
| **Total revenue** | **9571** | 9650 | 8980 | (1) | 7 |
| Provision for credit losses | **911** | 767 | 911 | 19 |  |
| Noninterest expense | **5820** | 5968 | 5925 | (2) | (2) |
| **Net income** | $**2128** | 2185 | 1602 | (3) | 33 |
| **Average balances (in billions)** |  |  |  |  |  |
| Loans | $**329.3** | 325.3 | 321.4 | 1 | 2 |
| Deposits | **778.6** | 781.3 | 773.6 |  | 1 |

---

In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment.

***Fourth Quarter 2025 vs. Fourth Quarter 2024***

◦ Revenue increased 7%

&nbsp;&nbsp;&nbsp;&nbsp;▪ Consumer, Small and Business Banking was up 9% driven by lower deposit pricing, higher deposit and loan balances, including the impact of the transfer noted above

&nbsp;&nbsp;&nbsp;&nbsp;▪ Home Lending was down 6% due to lower net interest income on lower loan balances

&nbsp;&nbsp;&nbsp;&nbsp;▪ Credit Card was up 7% on higher loan balances and higher card fees

&nbsp;&nbsp;&nbsp;&nbsp;▪ Auto was up 7% due to higher loan balances

&nbsp;&nbsp;&nbsp;&nbsp;▪ Personal Lending was down 5% driven by lower loan balances and loan spread compression

◦ Noninterest expense decreased 2% driven by lower operating losses and the impact of efficiency initiatives, partially offset by higher advertising expense, as well as the impact of the transfer noted above

------

**<u>Commercial Banking</u>** provides financial solutions to private, family owned and certain public companies. Products and services include banking and credit products across multiple industry sectors and municipalities, secured lending and lease products, and treasury management.

***Selected Financial Information***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from |
| | **Dec 31,<br>2025** | Sep 30,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 |
| **Earnings (in millions)** |  |  |  |  |  |
| Net interest income | $**1993** | 1949 | 2248 | 2% | (11) |
| Noninterest income | **1086** | 1092 | 923 | (1) | 18 |
| **Total revenue** | **3079** | 3041 | 3171 | 1 | (3) |
| Provision for credit losses | **105** | 39 | 33 | 169 | 218 |
| Noninterest expense | **1443** | 1445 | 1525 |  | (5) |
| **Net income** | $**1142** | 1162 | 1203 | (2) | (5) |
| **Average balances (in billions)** |  |  |  |  |  |
| Loans | $**224.0** | 219.4 | 221.8 | 2 | 1 |
| Deposits | **181.0** | 172.0 | 184.3 | 5 | (2) |

---

In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment.

***Fourth Quarter 2025 vs. Fourth Quarter 2024***

◦ Revenue decreased 3%

&nbsp;&nbsp;&nbsp;&nbsp;▪ Net interest income was down 11% due to the impact of lower interest rates and the transfer noted above, partially offset by lower deposit pricing and higher loan balances

&nbsp;&nbsp;&nbsp;&nbsp;▪ Noninterest income was up 18% driven by higher revenue from tax credit investments and equity investments

◦ Noninterest expense decreased 5% due to the impact of the transfer noted above, as well as the impact of efficiency initiatives

------

**<u>Corporate and Investment Banking</u>** delivers a suite of capital markets, banking and financial products and services to corporate, commercial real estate, government and institutional clients globally. Products and services include corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity and fixed income solutions, as well as sales, trading, and research capabilities.

***Selected Financial Information***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from |
| | **Dec 31,<br>2025** | Sep 30,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 |
| **Earnings (in millions)** |  |  |  |  |  |
| Banking: |  |  |  |  |  |
| Lending | $**656** | 647 | 691 | 1% | (5) |
| Treasury Management and Payments | **648** | 630 | 644 | 3 | 1 |
| Investment Banking | **457** | 554 | 491 | (18) | (7) |
| Total Banking | **1761** | 1831 | 1826 | (4) | (4) |
| Commercial Real Estate | **1236** | 1186 | 1274 | 4 | (3) |
| Markets: |  |  |  |  |  |
| Fixed Income, Currencies, and Commodities (FICC) | **1164** | 1355 | 1179 | (14) | (1) |
| Equities | **453** | 450 | 385 | 1 | 18 |
| Credit Adjustment (CVA/DVA/FVA) and Other | **(15)** | 48 | (71) | NM | 79 |
| Total Markets | **1602** | 1853 | 1493 | (14) | 7 |
| Other | **17** | 9 | 20 | 89 | (15) |
| **Total revenue** | **4616** | 4879 | 4613 | (5) |  |
| Provision for credit losses | **78** | (107) | 205 | 173 | (62) |
| Noninterest expense | **2347** | 2362 | 2300 | (1) | 2 |
| **Net income** | $**1639** | 1966 | 1580 | (17) | 4 |
| **Average balances (in billions)** |  |  |  |  |  |
| Loans | $**312.9** | 295.9 | 274.0 | 6 | 14 |
| Deposits | **214.5** | 204.1 | 205.1 | 5 | 5 |

---

NM – Not meaningful

***Fourth Quarter 2025 vs. Fourth Quarter 2024***

◦ Revenue was relatively flat

&nbsp;&nbsp;&nbsp;&nbsp;▪ Banking was down 4% driven by lower investment banking revenue and the impact of lower interest rates, partially offset by higher loan balances

&nbsp;&nbsp;&nbsp;&nbsp;▪ Commercial Real Estate was down 3% due to the impact of lower interest rates, lower revenue resulting from the sale of our non-agency third party servicing business in first quarter 2025, as well as lower loan balances, partially offset by increased capital markets activity

&nbsp;&nbsp;&nbsp;&nbsp;▪ Markets was up 7% driven by higher revenue in equities, commodities, and structured products, partially offset by lower revenue in credit, rates, and foreign exchange products

◦ Noninterest expense increased 2% driven by higher operating costs and higher professional and outside services expense, partially offset by the impact of efficiency initiatives

------

**<u>Wealth and Investment Management</u>** provides personalized wealth management, brokerage, financial planning, lending, private banking, trust and fiduciary products and services to affluent, high-net worth and ultra-high-net worth clients. We operate through financial advisors in our brokerage and wealth offices, consumer bank branches, independent offices, and digitally through WellsTrade<sup>®</sup> and Intuitive Investor<sup>®</sup>.

***Selected Financial Information***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from |
| | **Dec 31,<br>2025** | Sep 30,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 |
| **Earnings (in millions)** |  |  |  |  |  |
| Net interest income | $**993** | 974 | 856 | 2% | 16 |
| Noninterest income | **3367** | 3222 | 3102 | 5 | 9 |
| **Total revenue** | **4360** | 4196 | 3958 | 4 | 10 |
| Provision for credit losses | **(9)** | (14) | (27) | 36 | 67 |
| Noninterest expense | **3492** | 3421 | 3307 | 2 | 6 |
| **Net income** | $**656** | 591 | 508 | 11 | 29 |
| **Total client assets (in billions)** | **2509** | 2473 | 2293 | 1 | 9 |
| **Average balances (in billions)** |  |  |  |  |  |
| Loans | $**88.7** | 86.2 | 83.6 | 3 | 6 |
| Deposits | **134.5** | 127.4 | 118.3 | 6 | 14 |

---

***Fourth Quarter 2025 vs. Fourth Quarter 2024***

◦ Revenue increased 10%

&nbsp;&nbsp;&nbsp;&nbsp;▪ Net interest income was up 16% driven by lower deposit pricing and higher deposit and loan balances

&nbsp;&nbsp;&nbsp;&nbsp;▪ Noninterest income was up 9% on higher asset-based fees driven by an increase in market valuations

◦ Noninterest expense increased 6% due to higher revenue-related compensation expense, partially offset by the impact of efficiency initiatives

------

**<u>Corporate</u>** includes corporate treasury and enterprise functions, net of expense allocations, in support of the reportable operating segments (including funds transfer pricing, capital, and liquidity), as well as our investment portfolio and venture capital and private equity investments. Corporate also includes certain lines of business that management has determined are no longer consistent with the long-term strategic goals of the Company as well as results for previously divested businesses.

***Selected Financial Information***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from |
| | **Dec 31,<br>2025** | Sep 30,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 |
| **Earnings (in millions)** |  |  |  |  |  |
| Net interest income | $**(199)** | (273) | (264) | 27% | 25 |
| Noninterest income | **388** | 449 | 368 | (14) | 5 |
| **Total revenue** | **189** | 176 | 104 | 7 | 82 |
| Provision for credit losses | **(45)** | (4) | (27) | NM | (67) |
| Noninterest expense | **624** | 650 | 843 | (4) | (26) |
| **Net income (loss)** | $**(204)** | (315) | 186 | 35 | NM |

---

NM – Not meaningful

***Fourth Quarter 2025 vs. Fourth Quarter 2024***

◦ Revenue increased as fourth quarter 2024 included $448 million of net losses due to a repositioning of the investment securities portfolio and fourth quarter 2025 included lower results from our venture capital investments

◦ Noninterest expense decreased and included lower FDIC assessment expense

------

**Endnotes**

**Page 1 – Company-wide Financial Summary / Operating Segments**

1. Net income and diluted earnings per common share (EPS) excluding the notable item of severance expense are non-GAAP financial measures. Excluding $612 million (pre-tax) of severance expense in fourth quarter 2025 resulted in an increase of $461 million (after-tax) to reported net income from $5.4 billion to $5.8 billion and an increase of $0.14 per diluted share to reported EPS from $1.62 to $1.76. Management believes these non-GAAP financial measures provide useful information to management, investors, and others in assessing the Company's financial results.

2. Includes provision for credit losses for loans, debt securities, and other financial assets.

3. Represents our Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach, which is our binding CET1 framework. See the table on page 26 of the 4Q25 Quarterly Supplement for more information on CET1. CET1 for December 31, 2025, is a preliminary estimate.

4. Return on equity (ROE) represents Wells Fargo net income applicable to common stock divided by average common stockholders' equity.

5. Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the "Tangible Common Equity" tables on pages 24-25 of the 4Q25 Quarterly Supplement.

6. In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment.

**Page 2 – Selected Company-wide Financial Information**

1. Includes provision for credit losses for loans, debt securities, and other financial assets.

2. Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the "Tangible Common Equity" tables on pages 24-25 of the 4Q25 Quarterly Supplement.

3. The efficiency ratio is noninterest expense divided by total revenue (net interest income and noninterest income).

**Page 3 – Selected Company-wide Capital and Liquidity Information**

1. Tangible common equity is a non-GAAP financial measure. For additional information, including a corresponding reconciliation to GAAP financial measures, see the "Tangible Common Equity" tables on pages 24-25 of the 4Q25 Quarterly Supplement.

2. Represents our CET1 ratio calculated under the Standardized Approach, which is our binding CET1 framework. See the table on page 26 of the 4Q25 Quarterly Supplement for more information on CET1. CET1 for December 31, 2025, is a preliminary estimate.

3. Represents TLAC divided by risk-weighted assets (RWAs), which is our binding TLAC ratio, determined by using the greater of RWAs under the Standardized and Advanced Approaches. TLAC for December 31, 2025, is a preliminary estimate.

4. SLR for December 31, 2025, is a preliminary estimate.

5. Represents average high-quality liquid assets divided by average projected net cash outflows, as each is defined under the LCR rule. LCR for December 31, 2025, is a preliminary estimate.

**Conference Call**

The Company will host a live conference call on Wednesday, January 14, at 10:00 a.m. ET. You may listen to the call by dialing 1-888-673-9782 (U.S. and Canada) or 312-470-7126 (International/U.S. Toll) and enter passcode: 8320644#. The call will also be available online at https://www.wellsfargo.com/about/investor-relations/quarterly-earnings/ and

https://metroconnections-events.com/wf4qearnings25.

A replay of the conference call will be available from approximately 1:00 p.m. ET on Wednesday, January 14 through

Wednesday, January 28. Please dial 1-800-835-4112 (U.S. and Canada) or 203-369-3829 (International/U.S. Toll) and enter passcode: 9408#. The replay will also be available online at

https://www.wellsfargo.com/about/investor-relations/quarterly-earnings/ and

https://metroconnections-events.com/wf4qearnings25.

------

**Forward-Looking Statements** 

This document contains forward-looking statements. In addition, we may make forward-looking statements in our other documents filed or furnished with the Securities and Exchange Commission, and our management may make forward-looking statements orally to analysts, investors, representatives of the media and others. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "target," "projects," "outlook," "forecast," "will," "may," "could," "should," "can" and similar references to future periods. In particular, forward-looking statements include, but are not limited to, statements we make about: (i) the future operating or financial performance of the Company or any of its businesses, including our outlook for future growth; (ii) our expectations regarding noninterest expense and our efficiency ratio; (iii) future credit quality and performance, including our expectations regarding future loan losses, our allowance for credit losses, and the economic scenarios considered to develop the allowance; (iv) our expectations regarding net interest income and net interest margin; (v) loan growth or the reduction or mitigation of risk in our loan portfolios; (vi) future capital or liquidity levels, ratios or targets; (vii) the expected outcome and impact of legal, regulatory and legislative developments, as well as our expectations regarding compliance therewith; (viii) future common stock dividends, common share repurchases and other uses of capital; (ix) our targeted range for return on assets, return on equity, and return on tangible common equity; (x) expectations regarding our effective income tax rate; (xi) the outcome of contingencies, such as legal actions; (xii) sustainability and governance related goals or commitments; and (xiii) the Company's plans, objectives and strategies.

Forward-looking statements are not based on historical facts but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation:

• current and future economic and market conditions, including the effects of declines in housing prices, high unemployment rates, declines in commercial real estate prices, U.S. fiscal debt, budget and tax matters, geopolitical matters, trade policies, and any slowdown in global economic growth;

• our capital and liquidity requirements (including under regulatory capital standards, such as the Basel III capital standards) and our ability to generate capital internally or raise capital on favorable terms;

• current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including rules and regulations relating to bank products and financial services;

• our ability to realize any efficiency ratio or expense target as part of our expense management initiatives, including as a result of business and economic cyclicality, seasonality, changes in our business composition and operating environment, growth in our businesses and/or acquisitions, and unexpected expenses relating to, among other things, litigation and regulatory matters;

• the effect of the current interest rate environment or changes in interest rates or in the level or composition of our assets or liabilities on our net interest income and net interest margin;

• significant turbulence or a disruption in the capital or financial markets, which could result in, among other things, a reduction in the availability of funding or increased funding costs, a reduction in our ability to sell or securitize loans, and declines in asset values and/or recognition of impairment of securities held in our debt securities and equity securities portfolios;

• the effect of a fall in stock market prices on our investment banking business and our fee income from our brokerage and wealth management businesses;

• negative effects from instances where customers may have experienced financial harm, including on our legal, operational and compliance costs, our ability to engage in certain business activities or offer certain products or services, our ability to keep and attract customers, our ability to attract and retain qualified employees, and our reputation;

• regulatory matters, including the failure to resolve outstanding matters on a timely basis and the potential impact of new matters, litigation, or other legal actions, which may result in, among other things, additional costs, fines, penalties, restrictions on our business activities, reputational harm, or other adverse consequences;

• a failure in or breach of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyberattacks;

• the effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin;

• fiscal and monetary policies of the Federal Reserve Board;

------

• changes to tax laws, regulations, and guidance as well as the effect of discrete items on our effective income tax rate;

• our ability to develop and execute effective business plans and strategies; and

• the other risk factors and uncertainties described under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024.

In addition to the above factors, we also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of the Company, the impact to our balance sheet of expected customer activity, our capital requirements and long-term targeted capital structure, the results of supervisory stress tests, market conditions (including the trading price of our stock), regulatory and legal considerations, including regulatory requirements under the Federal Reserve Board's capital plan rule, and other factors deemed relevant by the Company, and may be subject to regulatory approval or conditions.

For additional information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission and available on its website at www.sec.gov<sup>1</sup>.

Any forward-looking statement made by us speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

<u>Forward-looking Non-GAAP Financial Measures</u>. From time to time we may provide forward-looking non-GAAP financial measures, such as forward-looking estimates or targets for return on average tangible common equity or for net interest income excluding Markets. We are unable to provide a reconciliation of forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures because we are unable to provide, without unreasonable effort, a meaningful or accurate calculation or estimation of amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and quantifying future amounts or when they may occur. Such unavailable information could be significant to future results.

<sup>1</sup> We do not control this website. Wells Fargo has provided this link for your convenience, but does not endorse and is not responsible for the content, links, privacy policy, or security policy of this website.

------

**About Wells Fargo**

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $2.1 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 33 on Fortune's 2025 rankings of America's largest corporations.

**Contact Information**

**Media**

Beth Richek, 980-308-1568

<u>beth.richek@wellsfargo.com</u>

or

**Investor Relations**

John M. Campbell, 415-396-0523

<u>john.m.campbell@wellsfargo.com</u>

\# \# \#

## Exhibit 99.2

**Exhibit 99.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

![erwellsfargoimagea06.jpg](erwellsfargoimagea06.jpg)<br>

4Q25 Quarterly Supplement

------

**Wells Fargo & Company and Subsidiaries**

**QUARTERLY FINANCIAL DATA**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| | **Page** |
| **<u>Consolidated Results</u>** | |
| [Summary Financial Data](#id34acee917814b98adaff1ffd2a019ac_7) | [3](#id34acee917814b98adaff1ffd2a019ac_7) |
| [Consolidated Statement of Income](#id34acee917814b98adaff1ffd2a019ac_10) | [5](#id34acee917814b98adaff1ffd2a019ac_10) |
| [Consolidated Balance Sheet](#id34acee917814b98adaff1ffd2a019ac_13) | [6](#id34acee917814b98adaff1ffd2a019ac_13) |
| Average Balances and Interest Rates (Taxable-Equivalent Basis) | [7](#id34acee917814b98adaff1ffd2a019ac_16) |
| **<u>Reportable Operating Segment Results</u>** |  |
| Combined [Segment Results](#id34acee917814b98adaff1ffd2a019ac_19) | [8](#id34acee917814b98adaff1ffd2a019ac_19) |
| Consumer Banking and Lending | [10](#id34acee917814b98adaff1ffd2a019ac_25) |
| Commercial Banking | [12](#id34acee917814b98adaff1ffd2a019ac_28) |
| Corporate and Investment Banking | [14](#id34acee917814b98adaff1ffd2a019ac_31) |
| Wealth and Investment Management | [16](#id34acee917814b98adaff1ffd2a019ac_34) |
| Corporate | [17](#id34acee917814b98adaff1ffd2a019ac_37) |
| **<u>Credit-Related Information</u>** |  |
| Consolidated [Loans](#id34acee917814b98adaff1ffd2a019ac_40) Outstanding – Period-End Balances, Average Balances, and Average Interest Rates | [18](#id34acee917814b98adaff1ffd2a019ac_40) |
| Net Loan Charge-offs | [19](#id34acee917814b98adaff1ffd2a019ac_43) |
| Changes in Allowance for Credit Losses for Loans | [20](#id34acee917814b98adaff1ffd2a019ac_46) |
| Allocation of the Allowance for Credit Losses for Loans | [21](#id34acee917814b98adaff1ffd2a019ac_49) |
| [Nonperforming Assets](#id34acee917814b98adaff1ffd2a019ac_52) (Nonaccrual Loans and Foreclosed Assets) | [22](#id34acee917814b98adaff1ffd2a019ac_52) |
| Commercial Loan Portfolio – Commercial and Industrial Loans and Lease Financing by Industry and Commercial Real Estate Loans by Property Type | [23](#id34acee917814b98adaff1ffd2a019ac_58) |
| **<u>Other</u>** |  |
| Tangible Common Equity | [24](#id34acee917814b98adaff1ffd2a019ac_70) |
| Risk-Based Capital Ratios Under Basel III | [26](#id34acee917814b98adaff1ffd2a019ac_73) |
| Net Interest Income Excluding Markets | [27](#id34acee917814b98adaff1ffd2a019ac_67) |
| Changes in Trading Assets and Liabilities | [27](#id34acee917814b98adaff1ffd2a019ac_4398046511673) |

---

*Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Annual Report on Form 10-K for the year ended December 31, 2025, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information.*

------

Wells Fargo & Company and Subsidiaries

**SUMMARY FINANCIAL DATA**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| (in millions, except ratios and per share amounts) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| **Selected Income Statement Data** |  |  |  |  |  |  |  |  |  |  |
| Total revenue | $**21292** | 21436 | 20822 | 20149 | 20378 | (1)% | 4 | $**83699** | 82296 | 2% |
| Noninterest expense | **13726** | 13846 | 13379 | 13891 | 13900 | (1) | (1) | **54842** | 54598 |  |
| Pre-tax pre-provision profit (PTPP) (1) | **7566** | 7590 | 7443 | 6258 | 6478 |  | 17 | **28857** | 27698 | 4 |
| Provision for credit losses (2) | **1040** | 681 | 1005 | 932 | 1095 | 53 | (5) | **3658** | 4334 | (16) |
| Wells Fargo net income | **5361** | 5589 | 5494 | 4894 | 5079 | (4) | 6 | **21338** | 19722 | 8 |
| Wells Fargo net income applicable to common stock | **5114** | 5341 | 5214 | 4616 | 4801 | (4) | 7 | **20285** | 18606 | 9 |
| **Common Share Data** |  |  |  |  |  |  |  |  |  |  |
| Diluted earnings per common share | **1.62** | 1.66 | 1.60 | 1.39 | 1.43 | (2) | 13 | **6.26** | 5.37 | 17 |
| Dividends declared per common share | **0.45** | 0.45 | 0.40 | 0.40 | 0.40 |  | 13 | **1.70** | 1.50 | 13 |
| Common shares outstanding | **3092.6** | 3148.9 | 3220.4 | 3261.7 | 3288.9 | (2) | (6) |  |  |  |
| Average common shares outstanding | **3113.8** | 3182.2 | 3232.7 | 3280.4 | 3312.8 | (2) | (6) | **3201.8** | 3426.1 | (7) |
| Diluted average common shares outstanding | **3159.0** | 3223.5 | 3267.0 | 3321.6 | 3360.7 | (2) | (6) | **3242.3** | 3467.6 | (6) |
| Book value per common share (3) | $**53.24** | 52.30 | 51.13 | 49.86 | 48.85 | 2 | 9 |  |  |  |
| Tangible book value per common share (3)(4)  | **45.02** | 44.18 | 43.18 | 42.24 | 41.24 | 2 | 9 |  |  |  |
| **Selected Equity Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Total equity | **183038** | 183012 | 182954 | 182906 | 181066 |  | 1 |  |  |  |
| Common stockholders' equity | **164651** | 164687 | 164644 | 162627 | 160656 |  | 2 |  |  |  |
| Tangible common equity (4)  | **139219** | 139119 | 139057 | 137776 | 135628 |  | 3 |  |  |  |
| **Performance Ratios** |  |  |  |  |  |  |  |  |  |  |
| Return on average assets (ROA) (5) | **1.02%** | 1.10 | 1.14 | 1.03 | 1.05 |  |  | **1.07%** | 1.03 |  |
| Return on average equity (ROE) (6) | **12.3** | 12.8 | 12.8 | 11.5 | 11.7 |  |  | **12.4** | 11.4 |  |
| Return on average tangible common equity (ROTCE) (4) | **14.5** | 15.2 | 15.2 | 13.6 | 13.9 |  |  | **14.6** | 13.4 |  |
| Efficiency ratio (7) | **64** | 65 | 64 | 69 | 68 |  |  | **66** | 66 |  |
| Net interest margin on a taxable-equivalent basis | **2.60** | 2.61 | 2.68 | 2.67 | 2.70 |  |  | **2.64** | 2.73 |  |
| Average deposit cost | **1.44** | 1.54 | 1.52 | 1.58 | 1.73 |  |  | **1.52** | 1.80 |  |

---

(1)Pre-tax pre-provision profit (PTPP) is total revenue less noninterest expense. Management believes that PTPP is a useful financial measure because it enables investors and others to assess the Company's ability to generate capital to cover credit losses through a credit cycle.

(2)Includes provision for credit losses for loans, debt securities, and other financial assets.

(3)Book value per common share is common stockholders' equity divided by common shares outstanding. Tangible book value per common share is tangible common equity divided by common shares outstanding.

(4)Tangible common equity, tangible book value per common share, and return on average tangible common equity are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the "Tangible Common Equity" tables on pages 24 and 25.

(5)Represents Wells Fargo net income divided by average assets.

(6)Represents Wells Fargo net income applicable to common stock divided by average common stockholders' equity.

(7)The efficiency ratio is noninterest expense divided by total revenue (net interest income and noninterest income).

------

Wells Fargo & Company and Subsidiaries

**SUMMARY FINANCIAL DATA (continued)** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| ($ in millions, unless otherwise noted) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| **Selected Balance Sheet Data (average)** |  |  |  |  |  |  |  |  |  |  |
| Loans | $**955849** | 928677 | 916719 | 908182 | 906353 | 3% | 5 | $**927491** | 915376 | 1% |
| Assets | **2079777** | 2010200 | 1933371 | 1919661 | 1918536 | 3 | 8 | **1986258** | 1916697 | 4 |
| Deposits | **1377718** | 1339939 | 1331651 | 1339328 | 1353836 | 3 | 2 | **1347245** | 1345915 |  |
| **Selected Balance Sheet Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Available-for-sale and Held-to-maturity debt securities | **421596** | 420914 | 406362 | 403456 | 397926 |  | 6 |  |  |  |
| Loans | **986167** | 943102 | 924418 | 913842 | 912745 | 5 | 8 |  |  |  |
| Allowance for credit losses for loans | **14337** | 14311 | 14568 | 14552 | 14636 |  | (2) |  |  |  |
| Assets | **2148631** | 2062926 | 1981269 | 1950311 | 1929845 | 4 | 11 |  |  |  |
| Deposits | **1426207** | 1367361 | 1340703 | 1361728 | 1371804 | 4 | 4 |  |  |  |
| Headcount (#) (period-end) | **205198** | 210821 | 212804 | 215367 | 217502 | (3) | (6) |  |  |  |
| **Capital and other metrics (1)**  |  |  |  |  |  |  |  |  |  |  |
| Risk-based capital ratios and components (2): |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Standardized Approach: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Equity Tier 1 (CET1) | **10.6%** | 11.0 | 11.1 | 11.1 | 11.1 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 capital | **11.9** | 12.3 | 12.5 | 12.6 | 12.6 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total capital | **14.3** | 14.8 | 15.0 | 15.2 | 15.2 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Risk-weighted assets (RWAs) (in billions) | $**1293.4** | 1242.4 | 1225.9 | 1222.0 | 1216.1 | 4 | 6 |  |  |  |
| &nbsp;&nbsp;Advanced Approach:  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Equity Tier 1 (CET1) | **12.3%** | 12.7 | 12.7 | 12.7 | 12.4 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 capital | **13.8** | 14.3 | 14.3 | 14.5 | 14.1 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total capital | **15.7** | 16.2 | 16.2 | 16.5 | 16.1 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Risk-weighted assets (RWAs) (in billions) | $**1113.2** | 1072.2 | 1070.4 | 1063.6 | 1085.0 | 4 | 3 |  |  |  |
| Tier 1 leverage ratio  | **7.5%** | 7.7 | 8.0 | 8.1 | 8.1 |  |  |  |  |  |
| Supplementary Leverage Ratio (SLR) | **6.2** | 6.4 | 6.7 | 6.8 | 6.7 |  |  |  |  |  |
| Total Loss Absorbing Capacity (TLAC) Ratio (3)  | **23.2** | 24.6 | 24.4 | 25.1 | 24.8 |  |  |  |  |  |
| Liquidity Coverage Ratio (LCR) (4)  | **119** | 121 | 121 | 125 | 125 |  |  |  |  |  |

---

(1)Ratios and metrics for December 31, 2025, are preliminary estimates.

(2)See the table on page 26 for more information on CET1, tier 1 capital, and total capital.

(3)Represents TLAC divided by risk-weighted assets (RWAs), which is our binding TLAC ratio, determined by using the greater of RWAs under the Standardized and Advanced Approaches.

(4)Represents average high-quality liquid assets divided by average projected net cash outflows, as each is defined under the LCR rule.

------

Wells Fargo & Company and Subsidiaries

**CONSOLIDATED STATEMENT OF INCOME**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| (in millions, except per share amounts) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| **Interest income** | $**22602** | 22419 | 21320 | 20973 | 22055 | 1% | 2 | $**87314** | 90777 | (4)% |
| **Interest expense** | **10271** | 10469 | 9612 | 9478 | 10219 | (2) | 1 | **39830** | 43101 | (8) |
| &nbsp;&nbsp;&nbsp;**Net interest income** | **12331** | 11950 | 11708 | 11495 | 11836 | 3 | 4 | **47484** | 47676 |  |
| **Noninterest income** |  |  |  |  |  |  |  |  |  |  |
| Deposit-related fees | **1291** | 1290 | 1249 | 1269 | 1237 |  | 4 | **5099** | 5015 | 2 |
| Lending-related fees | **393** | 384 | 373 | 364 | 388 | 2 | 1 | **1514** | 1500 | 1 |
| Investment advisory and other asset-based fees | **2803** | 2660 | 2499 | 2536 | 2566 | 5 | 9 | **10498** | 9775 | 7 |
| Commissions and brokerage services fees | **657** | 651 | 610 | 638 | 635 | 1 | 3 | **2556** | 2521 | 1 |
| Investment banking fees | **716** | 840 | 696 | 775 | 725 | (15) | (1) | **3027** | 2665 | 14 |
| Card fees (1) | **1149** | 1223 | 1173 | 1044 | 1084 | (6) | 6 | **4589** | 4342 | 6 |
| Mortgage banking | **322** | 268 | 230 | 332 | 294 | 20 | 10 | **1152** | 1047 | 10 |
| Net gains from trading activities (2) | **979** | 1408 | 1376 | 1384 | 1003 | (30) | (2) | **5147** | 5366 | (4) |
| Net gains (losses) from debt securities | **3** |  |  | (147) | (448) | NM | 101 | **(144)** | (920) | 84 |
| Net gains (losses) from equity investments | **319** | 149 | 119 | (343) | 715 | 114 | (55) | **244** | 1070 | (77) |
| Other (2)(3) | **329** | 613 | 789 | 802 | 343 | (46) | (4) | **2533** | 2239 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **8961** | 9486 | 9114 | 8654 | 8542 | (6) | 5 | **36215** | 34620 | 5 |
| **Total revenue** | **21292** | 21436 | 20822 | 20149 | 20378 | (1) | 4 | **83699** | 82296 | 2 |
| Provision for credit losses (4) | **1040** | 681 | 1005 | 932 | 1095 | 53 | (5) | **3658** | 4334 | (16) |
| **Noninterest expense** |  |  |  |  |  |  |  |  |  |  |
| Personnel | **9077** | 9021 | 8709 | 9474 | 9071 | 1 |  | **36281** | 35729 | 2 |
| Technology, telecommunications and equipment | **1374** | 1319 | 1287 | 1223 | 1282 | 4 | 7 | **5203** | 4583 | 14 |
| Occupancy | **840** | 784 | 766 | 761 | 789 | 7 | 6 | **3151** | 3052 | 3 |
| Professional and outside services | **1236** | 1177 | 1089 | 1038 | 1237 | 5 |  | **4540** | 4607 | (1) |
| Advertising and promotion | **352** | 295 | 266 | 181 | 243 | 19 | 45 | **1094** | 869 | 26 |
| Other (3) | **847** | 1250 | 1262 | 1214 | 1278 | (32) | (34) | **4573** | 5758 | (21) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | **13726** | 13846 | 13379 | 13891 | 13900 | (1) | (1) | **54842** | 54598 |  |
| **Income before income tax expense** | **6526** | 6909 | 6438 | 5326 | 5383 | (6) | 21 | **25199** | 23364 | 8 |
| Income tax expense | **1103** | 1300 | 916 | 522 | 120 | (15) | 819 | **3841** | 3399 | 13 |
| **Net income before noncontrolling interests** | **5423** | 5609 | 5522 | 4804 | 5263 | (3) | 3 | **21358** | 19965 | 7 |
| Less: Net income (loss) from noncontrolling interests | **62** | 20 | 28 | (90) | 184 | 210 | (66) | **20** | 243 | (92) |
| **Wells Fargo net income** | $**5361** | 5589 | 5494 | 4894 | 5079 | (4)% | 6 | $**21338** | 19722 | 8% |
| Less: Preferred stock dividends and other | **247** | 248 | 280 | 278 | 278 |  | (11) | **1053** | 1116 | (6) |
| **Wells Fargo net income applicable to common stock** | $**5114** | 5341 | 5214 | 4616 | 4801 | (4)% | 7 | $**20285** | 18606 | 9% |
| **Per share information** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings per common share | $**1.64** | 1.68 | 1.61 | 1.41 | 1.45 | (2)% | 13 | $**6.34** | 5.43 | 17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted earnings per common share | **1.62** | 1.66 | 1.60 | 1.39 | 1.43 | (2) | 13 | **6.26** | 5.37 | 17 |

---

NM – Not meaningful

(1)In April 2025, we completed our acquisition of the remaining interest in our merchant services joint venture. Following the acquisition, the revenue from this business has been included in card fees. Prior to the acquisition, our share of the net earnings of the joint venture was included in other noninterest income.

(2)In fourth quarter 2025, we changed the presentation of certain items on our consolidated balance sheet, including trading assets and liabilities. We also reclassified the gains (losses) related to our physical commodities inventory, including the related hedging impacts, from other noninterest income to net gains from trading activities. Prior period balances have been revised to conform with the current period presentation. See page 27 for additional information.

(3)In fourth quarter 2025, we reclassified lease income into other noninterest income and operating losses and lease expense into other noninterest expense. Prior period balances have been revised to conform with the current period presentation.

(4)Includes provision for credit losses for loans, debt securities, and other financial assets.

------

Wells Fargo & Company and Subsidiaries

**CONSOLIDATED BALANCE SHEET**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from |
| (in millions, except shares) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 |
| **Assets** |  |  |  |  |  |  |  |
| Cash and due from banks | $**39182** | 34801 | 35081 | 35256 | 37080 | 13% | 6 |
| Interest-earning deposits with banks | **135028** | 139524 | 159480 | 142309 | 166281 | (3) | (19) |
| Federal funds sold and securities borrowed or purchased under resale agreements | **193929** | 154576 | 104815 | 126830 | 105330 | 25 | 84 |
| Trading assets, at fair value (1) | **227935** | 225624 | 192933 | 179707 | 168595 | 1 | 35 |
| Available-for-sale debt securities, at fair value | **213573** | 206682 | 184869 | 176229 | 162978 | 3 | 31 |
| Held-to-maturity debt securities, at amortized cost | **208023** | 214232 | 221493 | 227227 | 234948 | (3) | (11) |
| Loans | **986167** | 943102 | 924418 | 913842 | 912745 | 5 | 8 |
| Allowance for loan losses | **(13797)** | (13744) | (13961) | (14029) | (14183) |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loans | **972370** | 929358 | 910457 | 899813 | 898562 | 5 | 8 |
| Premises and equipment, net | **11395** | 11040 | 10768 | 10357 | 10297 | 3 | 11 |
| Goodwill | **24967** | 25069 | 25071 | 25066 | 25167 |  | (1) |
| Equity investments (1) | **40932** | 39267 | 39051 | 40281 | 41374 | 4 | (1) |
| Other assets (1) | **81297** | 82753 | 97251 | 87236 | 79233 | (2) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $**2148631** | 2062926 | 1981269 | 1950311 | 1929845 | 4 | 11 |
| **Liabilities** |  |  |  |  |  |  |  |
| Noninterest-bearing deposits | $**365368** | 366814 | 370844 | 377443 | 383616 |  | (5) |
| Interest-bearing deposits | **1060839** | 1000547 | 969859 | 984285 | 988188 | 6 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | **1426207** | 1367361 | 1340703 | 1361728 | 1371804 | 4 | 4 |
| Federal funds purchased and securities loaned or sold under repurchase agreements (1) | **232687** | 202274 | 161618 | 124825 | 95235 | 15 | 144 |
| Short-term borrowings (1) | **18323** | 16449 | 13361 | 2324 | 2704 | 11 | 578 |
| Trading liabilities, at fair value (1) | **45468** | 45258 | 43531 | 44878 | 44813 |  | 1 |
| Accrued expenses and other liabilities (1) | **68196** | 70799 | 62865 | 59990 | 61145 | (4) | 12 |
| Long-term debt | **174712** | 177773 | 176237 | 173660 | 173078 | (2) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | **1965593** | 1879914 | 1798315 | 1767405 | 1748779 | 5 | 12 |
| **Equity** |  |  |  |  |  |  |  |
| Wells Fargo stockholders' equity: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | **16608** | 16608 | 16608 | 18608 | 18608 |  | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares | **9136** | 9136 | 9136 | 9136 | 9136 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | **61288** | 61016 | 60669 | 60275 | 60817 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | **228873** | 225189 | 221308 | 217405 | 214198 | 2 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | **(6673)** | (7647) | (9366) | (9998) | (12176) | 13 | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury stock (2) | **(128115)** | (123148) | (117244) | (114336) | (111463) | (4) | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Wells Fargo stockholders' equity | **181117** | 181154 | 181111 | 181090 | 179120 |  | 1 |
| Noncontrolling interests | **1921** | 1858 | 1843 | 1816 | 1946 | 3 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total equity | **183038** | 183012 | 182954 | 182906 | 181066 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $**2148631** | 2062926 | 1981269 | 1950311 | 1929845 | 4 | 11 |

---

(1)In fourth quarter 2025, we changed the presentation of certain items on our consolidated balance sheet, including trading assets and liabilities and short-term borrowings. Prior period balances have been revised to conform with the current period presentation.

(2)Number of shares of treasury stock were 2,389,192,624, 2,332,874,793, 2,261,443,304, 2,220,135,208, and 2,192,867,645 at December 31, September 30, June 30, and March 31, 2025, and December 31, 2024, respectively.

------

Wells Fargo & Company and Subsidiaries

**AVERAGE BALANCES AND INTEREST RATES (TAXABLE-EQUIVALENT BASIS) (1)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | %<br>Change |
| ($ in millions) | **Dec 31, 2025** | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2025 | Dec 31, 2024 | **Dec 31, 2025** | Dec 31, 2024 | %<br>Change |
| **Average Balances** |  |  |  |  |  |  |  |  |  |  |
| **Assets** |  |  |  |  |  |  |  |  |  |  |
| Interest-earning deposits with banks | $**144428** | 158704 | 137136 | 150855 | 171100 | (9)% | (16) | $**147793** | 189261 | (22)% |
| Federal funds sold and securities borrowed or purchased under resale agreements | **159759** | 120900 | 105987 | 101175 | 93294 | 32 | 71 | **122113** | 79128 | 54 |
| Trading assets (2) | **183706** | 172409 | 157704 | 156417 | 148425 | 7 | 24 | **167647** | 138446 | 21 |
| Available-for-sale debt securities | **212487** | 200309 | 187390 | 175550 | 168511 | 6 | 26 | **194053** | 154866 | 25 |
| Held-to-maturity debt securities | **213545** | 221447 | 227525 | 233952 | 242961 | (4) | (12) | **224054** | 254048 | (12) |
| Loans | **955849** | 928677 | 916719 | 908182 | 906353 | 3 | 5 | **927491** | 915376 | 1 |
| Equity investments (2) | **11712** | 12450 | 12039 | 12084 | 11853 | (6) | (1) | **12072** | 11986 | 1 |
| Other interest-earning assets (2) | **17809** | 17614 | 17660 | 14102 | 13861 | 1 | 28 | **16808** | 13084 | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | **1899295** | 1832510 | 1762160 | 1752317 | 1756358 | 4 | 8 | **1812031** | 1756195 | 3 |
| Total noninterest-earning assets | **180482** | 177690 | 171211 | 167344 | 162178 | 2 | 11 | **174227** | 160502 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $**2079777** | 2010200 | 1933371 | 1919661 | 1918536 | 3 | 8 | $**1986258** | 1916697 | 4 |
| **Liabilities** |  |  |  |  |  |  |  |  |  |  |
| Interest-bearing deposits | $**1020494** | 984197 | 970684 | 972927 | 984438 | 4 | 4 | $**987198** | 993536 | (1) |
| Federal funds purchased and securities loaned or sold under repurchase agreements (2) | **215871** | 182636 | 130388 | 115503 | 96911 | 18 | 123 | **161433** | 91363 | 77 |
| Short-term borrowings (2) | **10869** | 17936 | 6455 | 2459 | 1877 | (39) | 479 | **9476** | 3458 | 174 |
| Trading liabilities (2) | **35702** | 33086 | 30937 | 30561 | 28031 | 8 | 27 | **32587** | 26729 | 22 |
| Long-term debt | **177130** | 175944 | 175289 | 173052 | 175414 | 1 | 1 | **175366** | 184551 | (5) |
| Other interest-bearing liabilities (2) | **19619** | 20382 | 20906 | 18618 | 18604 | (4) | 5 | **19745** | 18270 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | **1479685** | 1414181 | 1334659 | 1313120 | 1305275 | 5 | 13 | **1385805** | 1317907 | 5 |
| Noninterest-bearing deposits | **357224** | 355742 | 360967 | 366401 | 369398 |  | (3) | **360047** | 352379 | 2 |
| Other noninterest-bearing liabilities | **59024** | 56849 | 54477 | 56782 | 60930 | 4 | (3) | **56930** | 62532 | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | **1895933** | 1826772 | 1750103 | 1736303 | 1735603 | 4 | 9 | **1802782** | 1732818 | 4 |
| Total equity | **183844** | 183428 | 183268 | 183358 | 182933 |  |  | **183476** | 183879 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total liabilities and equity** | $**2079777** | 2010200 | 1933371 | 1919661 | 1918536 | 3 | 8 | $**1986258** | 1916697 | 4 |
| **Average Interest Rates** |  |  |  |  |  |  |  |  |  |  |
| **Interest-earning assets** |  |  |  |  |  |  |  |  |  |  |
| Interest-earning deposits with banks | **3.65%** | 4.01 | 3.96 | 3.96 | 4.36 |  |  | **3.90%** | 4.85 |  |
| Federal funds sold and securities borrowed or purchased under resale agreements | **3.95** | 4.22 | 4.19 | 4.26 | 4.66 |  |  | **4.13** | 5.08 |  |
| Trading assets (2) | **4.11** | 3.97 | 4.02 | 3.91 | 3.98 |  |  | **4.00** | 4.01 |  |
| Available-for-sale debt securities | **4.60** | 4.66 | 4.62 | 4.48 | 4.45 |  |  | **4.59** | 4.26 |  |
| Held-to-maturity debt securities | **2.27** | 2.32 | 2.35 | 2.41 | 2.51 |  |  | **2.34** | 2.61 |  |
| Loans | **5.78** | 5.97 | 5.95 | 5.96 | 6.16 |  |  | **5.91** | 6.34 |  |
| Equity investments (2) | **2.64** | 2.22 | 2.19 | 2.62 | 2.83 |  |  | **2.41** | 3.22 |  |
| Other interest-earning assets (2) | **4.78** | 5.61 | 4.24 | 4.59 | 5.11 |  |  | **4.81** | 5.71 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | **4.75** | 4.88 | 4.87 | 4.85 | 5.02 |  |  | **4.84** | 5.19 |  |
| **Interest-bearing liabilities** |  |  |  |  |  |  |  |  |  |  |
| Interest-bearing deposits | **1.94** | 2.09 | 2.09 | 2.17 | 2.37 |  |  | **2.07** | 2.44 |  |
| Federal funds purchased and securities loaned or sold under repurchase agreements (2) | **4.05** | 4.39 | 4.40 | 4.40 | 4.80 |  |  | **4.28** | 5.22 |  |
| Short-term borrowings (2) | **4.47** | 4.68 | 5.04 | 5.48 | 6.02 |  |  | **4.73** | 6.22 |  |
| Trading liabilities (2) | **3.23** | 3.20 | 3.19 | 3.17 | 3.07 |  |  | **3.20** | 3.07 |  |
| Long-term debt | **5.61** | 5.89 | 5.95 | 5.97 | 6.35 |  |  | **5.85** | 6.75 |  |
| Other interest-bearing liabilities (2) | **3.61** | 3.75 | 3.61 | 3.52 | 3.04 |  |  | **3.63** | 3.06 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | **2.76** | 2.94 | 2.89 | 2.92 | 3.12 |  |  | **2.87** | 3.27 |  |
| **Interest rate spread on a taxable-equivalent basis (3)** | **1.99** | 1.94 | 1.98 | 1.93 | 1.90 |  |  | **1.97** | 1.92 |  |
| **Net interest margin on a taxable-equivalent basis (3)** | **2.60** | 2.61 | 2.68 | 2.67 | 2.70 |  |  | **2.64** | 2.73 |  |

---

(1)The average balance amounts represent amortized costs. The average interest rates are based on interest income or expense amounts for the period and are annualized, if applicable. Interest rates include the effects of hedge and risk management activities associated with the respective asset and liability categories.

(2)In fourth quarter 2025, we changed the presentation of certain items on our consolidated balance sheet, including trading assets and liabilities and short-term borrowings. Prior period balances have been revised to conform with the current period presentation.

(3)Includes taxable-equivalent adjustments of $74 million, $75 million, $77 million, $77 million, and $78 million for the quarters ended December 31, September 30, June 30, and March 31, 2025, and December 31, 2024, respectively, and $303 million and $340 million for the years ended December 31, 2025 and 2024, respectively, predominantly related to tax-exempt income on certain loans and securities. The federal statutory tax rate utilized was 21% for the periods presented.

------

Wells Fargo & Company and Subsidiaries

**COMBINED SEGMENT RESULTS (1)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | **Quarter ended December 31, 2025** | **Quarter ended December 31, 2025** | **Quarter ended December 31, 2025** |
| (in millions) | Consumer Banking and Lending | Commercial Banking | Corporate and Investment Banking | Wealth and Investment Management | Corporate (2) | Reconciling Items (3) | Consolidated<br>Company |
| &nbsp;&nbsp;&nbsp;**Net interest income** | $**7536** | **1993** | **2082** | **993** | **(199)** | **(74)** | **12331** |
| &nbsp;&nbsp;&nbsp;**Noninterest income** | **2035** | **1086** | **2534** | **3367** | **388** | **(449)** | **8961** |
| **Total revenue** | **9571** | **3079** | **4616** | **4360** | **189** | **(523)** | **21292** |
| **Provision for credit losses** | **911** | **105** | **78** | **(9)** | **(45)** | **—** | **1040** |
| **Noninterest expense** | **5820** | **1443** | **2347** | **3492** | **624** | **—** | **13726** |
| **Income (loss) before income tax expense (benefit)** | **2840** | **1531** | **2191** | **877** | **(390)** | **(523)** | **6526** |
| **Income tax expense (benefit)** | **712** | **387** | **552** | **221** | **(246)** | **(523)** | **1103** |
| **Net income (loss) before noncontrolling interests** | **2128** | **1144** | **1639** | **656** | **(144)** | **—** | **5423** |
| **Less: Net income from noncontrolling interests** | **—** | **2** | **—** | **—** | **60** | **—** | **62** |
| **Net income (loss)** | $**2128** | **1142** | **1639** | **656** | **(204)** | **—** | **5361** |
|  |  |  |  |  | Quarter ended September 30, 2025 | Quarter ended September 30, 2025 | Quarter ended September 30, 2025 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $7505 | 1949 | 1870 | 974 | (273) | (75) | 11950 |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | 2145 | 1092 | 3009 | 3222 | 449 | (431) | 9486 |
| Total revenue | 9650 | 3041 | 4879 | 4196 | 176 | (506) | 21436 |
| Provision for credit losses | 767 | 39 | (107) | (14) | (4) |  | 681 |
| Noninterest expense | 5968 | 1445 | 2362 | 3421 | 650 |  | 13846 |
| Income (loss) before income tax expense (benefit) | 2915 | 1557 | 2624 | 789 | (470) | (506) | 6909 |
| Income tax expense (benefit) | 730 | 393 | 658 | 198 | (173) | (506) | 1300 |
| Net income (loss) before noncontrolling interests | 2185 | 1164 | 1966 | 591 | (297) |  | 5609 |
| Less: Net income from noncontrolling interests |  | 2 |  |  | 18 |  | 20 |
| Net income (loss)  | $2185 | 1162 | 1966 | 591 | (315) |  | 5589 |
|  |  |  |  |  | Quarter ended December 31, 2024 | Quarter ended December 31, 2024 | Quarter ended December 31, 2024 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $7020 | 2248 | 2054 | 856 | (264) | (78) | 11836 |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | 1960 | 923 | 2559 | 3102 | 368 | (370) | 8542 |
| Total revenue | 8980 | 3171 | 4613 | 3958 | 104 | (448) | 20378 |
| Provision for credit losses | 911 | 33 | 205 | (27) | (27) |  | 1095 |
| Noninterest expense | 5925 | 1525 | 2300 | 3307 | 843 |  | 13900 |
| Income (loss) before income tax expense (benefit) | 2144 | 1613 | 2108 | 678 | (712) | (448) | 5383 |
| Income tax expense (benefit) | 542 | 408 | 528 | 170 | (1080) | (448) | 120 |
| Net income before noncontrolling interests | 1602 | 1205 | 1580 | 508 | 368 |  | 5263 |
| Less: Net income from noncontrolling interests |  | 2 |  |  | 182 |  | 184 |
| Net income | $1602 | 1203 | 1580 | 508 | 186 |  | 5079 |

---

(1)The management reporting process is based on U.S. GAAP and includes specific adjustments, such as for funds transfer pricing for asset/liability management, shared revenues and expenses, and taxable-equivalent adjustments to consistently reflect income from taxable and tax-exempt sources, which allows management to assess performance across the operating segments. We define our operating segments by type of product and customer segment.

(2)All other business activities that are not included in the reportable operating segments have been included in Corporate. Corporate includes corporate treasury and enterprise functions, net of expense allocations, in support of the reportable operating segments (including funds transfer pricing, capital, and liquidity), as well as our investment portfolio and venture capital and private equity investments. Corporate also includes certain lines of business that management has determined are no longer consistent with the long-term strategic goals of the Company as well as results for previously divested businesses.

(3)Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for affordable housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company's consolidated financial results.

------

Wells Fargo & Company and Subsidiaries

**COMBINED SEGMENT RESULTS (continued) (1)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** |
|<br>**(in millions)** | Consumer Banking and Lending | Commercial Banking | Corporate and Investment Banking | Wealth and Investment Management | Corporate (2) | Reconciling Items (3) | Consolidated<br>Company |
| &nbsp;&nbsp;&nbsp;**Net interest income** | $**29183** | **7902** | **7557** | **3684** | **(539)** | **(303)** | **47484** |
| &nbsp;&nbsp;&nbsp;**Noninterest income** | **8179** | **4076** | **11675** | **12644** | **1286** | **(1645)** | **36215** |
| **Total revenue** | **37362** | **11978** | **19232** | **16328** | **747** | **(1948)** | **83699** |
| **Provision for credit losses** | **3362** | **288** | **74** | **—** | **(66)** | **—** | **3658** |
| **Noninterest expense** | **23515** | **6077** | **9436** | **13518** | **2296** | **—** | **54842** |
| **Income (loss) before income tax expense (benefit)** | **10485** | **5613** | **9722** | **2810** | **(1483)** | **(1948)** | **25199** |
| **Income tax expense (benefit)** | **2620** | **1421** | **2439** | **691** | **(1382)** | **(1948)** | **3841** |
| **Net income (loss) before noncontrolling interests** | **7865** | **4192** | **7283** | **2119** | **(101)** | **—** | **21358** |
| **Less: Net income from noncontrolling interests** | **—** | **8** | **—** | **—** | **12** | **—** | **20** |
| **Net income (loss)** | $**7865** | **4184** | **7283** | **2119** | **(113)** | **—** | **21338** |
|  |  |  |  |  | Year ended December 31, 2024 | Year ended December 31, 2024 | Year ended December 31, 2024 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $28303 | 9096 | 7935 | 3473 | (791) | (340) | 47676 |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | 7898 | 3682 | 11409 | 11963 | 1129 | (1461) | 34620 |
| Total revenue | 36201 | 12778 | 19344 | 15436 | 338 | (1801) | 82296 |
| Provision for credit losses | 3561 | 290 | 521 | (22) | (16) |  | 4334 |
| Noninterest expense | 23274 | 6190 | 9029 | 12884 | 3221 |  | 54598 |
| Income (loss) before income tax expense (benefit) | 9366 | 6298 | 9794 | 2574 | (2867) | (1801) | 23364 |
| Income tax expense (benefit) | 2357 | 1599 | 2456 | 672 | (1884) | (1801) | 3399 |
| Net income (loss) before noncontrolling interests | 7009 | 4699 | 7338 | 1902 | (983) |  | 19965 |
| Less: Net income from noncontrolling interests |  | 10 |  |  | 233 |  | 243 |
| Net income (loss) | $7009 | 4689 | 7338 | 1902 | (1216) |  | 19722 |

---

(1)The management reporting process is based on U.S. GAAP and includes specific adjustments, such as for funds transfer pricing for asset/liability management, shared revenues and expenses, and taxable-equivalent adjustments to consistently reflect income from taxable and tax-exempt sources, which allows management to assess performance across the operating segments. We define our operating segments by type of product and customer segment.

(2)All other business activities that are not included in the reportable operating segments have been included in Corporate. Corporate includes corporate treasury and enterprise functions, net of expense allocations, in support of the reportable operating segments (including funds transfer pricing, capital, and liquidity), as well as our investment portfolio and venture capital and private equity investments. Corporate also includes certain lines of business that management has determined are no longer consistent with the long-term strategic goals of the Company as well as results for previously divested businesses.

(3)Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for affordable housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company's consolidated financial results.

------

Wells Fargo & Company and Subsidiaries

**CONSUMER BANKING AND LENDING SEGMENT** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| ($ in millions) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| **Income Statement** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $**7536** | 7505 | 7199 | 6943 | 7020 | —% | 7 | $**29183** | 28303 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest income: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposit-related fees | **692** | 698 | 653 | 651 | 657 | (1) | 5 | **2694** | 2734 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card fees (1) | **1088** | 1162 | 1109 | 978 | 1019 | (6) | 7 | **4337** | 4076 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking | **179** | 199 | 169 | 222 | 185 | (10) | (3) | **769** | 650 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | **76** | 86 | 98 | 119 | 99 | (12) | (23) | **379** | 438 | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **2035** | 2145 | 2029 | 1970 | 1960 | (5) | 4 | **8179** | 7898 | 4 |
| Total revenue | **9571** | 9650 | 9228 | 8913 | 8980 | (1) | 7 | **37362** | 36201 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | **775** | 766 | 818 | 877 | 887 | 1 | (13) | **3236** | 3546 | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in the allowance for credit losses | **136** | 1 | 127 | (138) | 24 | NM | 467 | **126** | 15 | 740 |
| Provision for credit losses | **911** | 767 | 945 | 739 | 911 | 19 |  | **3362** | 3561 | (6) |
| Noninterest expense | **5820** | 5968 | 5799 | 5928 | 5925 | (2) | (2) | **23515** | 23274 | 1 |
| Income before income tax expense | **2840** | 2915 | 2484 | 2246 | 2144 | (3) | 32 | **10485** | 9366 | 12 |
| Income tax expense | **712** | 730 | 621 | 557 | 542 | (2) | 31 | **2620** | 2357 | 11 |
| Net income | $**2128** | 2185 | 1863 | 1689 | 1602 | (3) | 33 | $**7865** | 7009 | 12 |
| **Revenue by Line of Business** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer, Small and Business Banking | $**6591** | 6567 | 6288 | 5981 | 6067 |  | 9 | $**25427** | 24510 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Lending: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Lending | **807** | 870 | 821 | 866 | 854 | (7) | (6) | **3364** | 3383 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Card (1) | **1600** | 1663 | 1588 | 1524 | 1489 | (4) | 7 | **6375** | 5908 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Auto | **282** | 256 | 241 | 237 | 263 | 10 | 7 | **1016** | 1118 | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personal Lending | **291** | 294 | 290 | 305 | 307 | (1) | (5) | **1180** | 1282 | (8) |
| Total revenue | $**9571** | 9650 | 9228 | 8913 | 8980 | (1) | 7 | $**37362** | 36201 | 3 |
| **Selected Balance Sheet Data (average)** |  |  |  |  |  |  |  |  |  |  |
| Loans by Line of Business: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer, Small and Business Banking (2) | $**13487** | 13700 | 5913 | 6034 | 6105 | (2) | 121 | $**9815** | 6292 | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Lending: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Lending | **200226** | 201803 | 203556 | 205507 | 207780 | (1) | (4) | **202756** | 210972 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Card | **52898** | 51121 | 49947 | 50109 | 50243 | 3 | 5 | **51027** | 48322 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Auto | **48699** | 44775 | 42366 | 42498 | 43005 | 9 | 13 | **44602** | 45048 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personal Lending | **13977** | 13880 | 13651 | 13902 | 14291 | 1 | (2) | **13852** | 14529 | (5) |
| Total loans | $**329287** | 325279 | 315433 | 318050 | 321424 | 1 | 2 | $**322052** | 325163 | (1) |
| Total deposits (2) | **778646** | 781329 | 781384 | 778601 | 773631 |  | 1 | **779994** | 774660 | 1 |
| Allocated capital | **45500** | 45500 | 45500 | 45500 | 45500 |  |  | **45500** | 45500 |  |
| **Selected Balance Sheet Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Loans by Line of Business: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer, Small and Business Banking (2) | $**13674** | 13789 | 6033 | 6144 | 6256 | (1) | 119 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Lending: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Lending | **199742** | 201345 | 203062 | 204656 | 207022 | (1) | (4) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Card | **54059** | 51572 | 50084 | 49518 | 50992 | 5 | 6 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Auto | **50954** | 46524 | 43373 | 41999 | 42914 | 10 | 19 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personal Lending | **14052** | 13984 | 13790 | 13656 | 14246 |  | (1) |  |  |  |
| Total loans | $**332481** | 327214 | 316342 | 315973 | 321430 | 2 | 3 |  |  |  |
| Total deposits (2) | **790962** | 782292 | 780978 | 798841 | 783490 | 1 | 1 |  |  |  |

---

NM – Not meaningful

(1)In April 2025, we completed our acquisition of the remaining interest in our merchant services joint venture. Following the acquisition, the revenue from this business has been included in card fees. Prior to the acquisition, our share of the net earnings of the joint venture was included in other noninterest income.

(2)In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment.

------

Wells Fargo & Company and Subsidiaries

**CONSUMER BANKING AND LENDING SEGMENT (continued)** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| ($ in millions, unless otherwise noted) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| **Selected Metrics** |  |  |  |  |  |  |  |  |  |  |
| **Consumer Banking and Lending:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return on allocated capital (1) | **18.0%** | 18.5 | 15.9 | 14.5 | 13.4 |  |  | **16.7%** | 14.8 |  |
| &nbsp;&nbsp;&nbsp;Efficiency ratio (2) | **61** | 62 | 63 | 67 | 66 |  |  | **63** | 64 |  |
| &nbsp;&nbsp;&nbsp;Retail bank branches (#, period-end) | **4090** | 4108 | 4135 | 4155 | 4177 | —% | (2) |  |  |  |
| &nbsp;&nbsp;&nbsp;Digital active customers (# in millions, period-end) (3)  | **37.2** | 37.0 | 36.6 | 36.7 | 36.0 | 1 | 3 |  |  |  |
| &nbsp;&nbsp;&nbsp;Mobile active customers (# in millions, period-end) (3)  | **32.8** | 32.5 | 32.1 | 31.8 | 31.4 | 1 | 4 |  |  |  |
| **Consumer, Small and Business Banking:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposit spread (4) | **2.65%** | 2.63 | 2.57 | 2.47 | 2.46 |  |  | **2.58%** | 2.50 |  |
| &nbsp;&nbsp;&nbsp;Debit card purchase volume ($ in billions) (5)  | $**137.3** | 133.6 | 133.6 | 126.0 | 131.0 | 3 | 5 | $**530.5** | 507.5 | 5% |
| &nbsp;&nbsp;&nbsp;Debit card purchase transactions (# in millions) (5) | **2696** | 2674 | 2655 | 2486 | 2622 | 1 | 3 | **10511** | 10230 | 3 |
| **Home Lending:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Mortgage banking: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net servicing income  | $**150** | 152 | 136 | 181 | 128 | (1) | 17 | $**619** | 422 | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gains on mortgage loan originations/sales | **29** | 47 | 33 | 41 | 57 | (38) | (49) | **150** | 228 | (34) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total mortgage banking | $**179** | 199 | 169 | 222 | 185 | (10) | (3) | $**769** | 650 | 18 |
| &nbsp;&nbsp;&nbsp;Mortgage loan originations ($ in billions) | $**7.5** | 7.0 | 7.4 | 4.4 | 5.9 | 7 | 27 | $**26.3** | 20.2 | 30 |
| &nbsp;&nbsp;&nbsp;% of originations held for sale (HFS) | **21.9%** | 31.0 | 34.0 | 38.2 | 40.3 |  |  | **30.4%** | 40.6 |  |
| &nbsp;&nbsp;&nbsp;Third party mortgage loans serviced ($ in billions, period-end) (6) | $**397.0** | 433.8 | 455.5 | 471.1 | 486.9 | (8) | (18) |  |  |  |
| &nbsp;&nbsp;&nbsp;Mortgage servicing rights (MSR) carrying value (period-end) | **5696** | 6167 | 6417 | 6536 | 6844 | (8) | (17) |  |  |  |
| &nbsp;&nbsp;&nbsp;Home lending loans 30+ days delinquency rate (period-end) (7)(8)(9) | **0.31%** | 0.32 | 0.30 | 0.29 | 0.29 |  |  |  |  |  |
| **Credit Card (5):** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Credit card purchase volume ($ in billions) | $**49.7** | 47.4 | 46.4 | 42.5 | 45.1 | 5 | 10 | $**186.0** | 170.5 | 9 |
| &nbsp;&nbsp;&nbsp;Credit card new accounts (# in thousands) | **819** | 914 | 643 | 554 | 486 | (10) | 69 | **2930** | 2429 | 21 |
| &nbsp;&nbsp;&nbsp;Credit card loans 30+ days delinquency rate (period-end) (8)(9) | **2.80%** | 2.69 | 2.64 | 2.82 | 2.91 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Credit card loans 90+ days delinquency rate (period-end) (8)(9) | **1.43** | 1.34 | 1.32 | 1.46 | 1.51 |  |  |  |  |  |
| **Auto:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Auto loan originations ($ in billions) | $**10.2** | 8.8 | 6.9 | 4.6 | 5.0 | 16 | 104 | $**30.5** | 16.9 | 80 |
| &nbsp;&nbsp;&nbsp;Auto loans 30+ days delinquency rate (period-end) (8)(9) | **1.52%** | 1.54 | 1.72 | 1.87 | 2.31 |  |  |  |  |  |

---

(1)Return on allocated capital is segment net income (loss) applicable to common stock divided by segment average allocated capital. Segment net income (loss) applicable to common stock is segment net income (loss) less allocated preferred stock dividends.

(2)Efficiency ratio is segment noninterest expense divided by segment total revenue (net interest income and noninterest income).

(3)Digital and mobile active customers is the number of consumer and small business customers who have logged on via a digital or mobile device, respectively, in the prior 90 days. Digital active customers includes both online and mobile customers.

(4)Deposit spread is (i) the internal funds transfer pricing credit on segment deposits minus interest paid to customers for segment deposits, divided by (ii) average segment deposits.

(5)Reflects combined activity for consumer and small business customers.

(6)Excludes residential mortgage loans subserviced for others.

(7)Excludes residential mortgage loans that are insured or guaranteed by U.S. government agencies.

(8)Excludes loans held for sale.

(9)Delinquency balances exclude nonaccrual loans.

------

Wells Fargo & Company and Subsidiaries

**COMMERCIAL BANKING SEGMENT** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| ($ in millions) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| **Income Statement** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $**1993** | 1949 | 1983 | 1977 | 2248 | 2% | (11) | $**7902** | 9096 | (13)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest income: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposit-related fees | **320** | 311 | 324 | 335 | 303 | 3 | 6 | **1290** | 1180 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lending-related fees | **147** | 144 | 138 | 136 | 140 | 2 | 5 | **565** | 555 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease income | **115** | 119 | 116 | 123 | 124 | (3) | (7) | **473** | 532 | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | **504** | 518 | 372 | 354 | 356 | (3) | 42 | **1748** | 1415 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **1086** | 1092 | 950 | 948 | 923 | (1) | 18 | **4076** | 3682 | 11 |
| Total revenue | **3079** | 3041 | 2933 | 2925 | 3171 | 1 | (3) | **11978** | 12778 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | **96** | 83 | 98 | 41 | 111 | 16 | (14) | **318** | 333 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in the allowance for credit losses | **9** | (44) | (141) | 146 | (78) | 120 | 112 | **(30)** | (43) | 30 |
| Provision for credit losses | **105** | 39 | (43) | 187 | 33 | 169 | 218 | **288** | 290 | (1) |
| Noninterest expense | **1443** | 1445 | 1519 | 1670 | 1525 |  | (5) | **6077** | 6190 | (2) |
| Income before income tax expense | **1531** | 1557 | 1457 | 1068 | 1613 | (2) | (5) | **5613** | 6298 | (11) |
| Income tax expense | **387** | 393 | 369 | 272 | 408 | (2) | (5) | **1421** | 1599 | (11) |
| Less: Net income from noncontrolling interests | **2** | 2 | 2 | 2 | 2 |  |  | **8** | 10 | (20) |
| Net income | $**1142** | 1162 | 1086 | 794 | 1203 | (2) | (5) | $**4184** | 4689 | (11) |
| **Revenue by Product** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lending and leasing | $**1254** | 1251 | 1262 | 1267 | 1291 |  | (3) | $**5034** | 5201 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury management and payments | **1284** | 1206 | 1250 | 1260 | 1423 | 6 | (10) | **5000** | 5690 | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | **541** | 584 | 421 | 398 | 457 | (7) | 18 | **1944** | 1887 | 3 |
| Total revenue | $**3079** | 3041 | 2933 | 2925 | 3171 | 1 | (3) | $**11978** | 12778 | (6) |
| **Selected Metrics** |  |  |  |  |  |  |  |  |  |  |
| Return on allocated capital | **16.5%** | 16.8 | 15.8 | 11.4 | 17.4 |  |  | **15.1%** | 17.1 |  |
| Efficiency ratio | **47** | 48 | 52 | 57 | 48 |  |  | **51** | 48 |  |

---

------

Wells Fargo & Company and Subsidiaries

**COMMERCIAL BANKING SEGMENT (continued)** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| ($ in millions) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| **Selected Balance Sheet Data (average)** |  |  |  |  |  |  |  |  |  |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial  | $**170565** | 166946 | 167134 | 164113 | 162060 | 2% | 5 | $**167207** | 162827 | 3% |
| &nbsp;&nbsp;&nbsp;Commercial real estate  | **38405** | 37605 | 44373 | 44598 | 44555 | 2 | (14) | **41218** | 44898 | (8) |
| &nbsp;&nbsp;&nbsp;Lease financing and other | **15046** | 14805 | 14954 | 15093 | 15180 | 2 | (1) | **14974** | 15332 | (2) |
| Total loans (1) | $**224016** | 219356 | 226461 | 223804 | 221795 | 2 | 1 | $**223399** | 223057 |  |
| Total deposits (1) | **180989** | 171976 | 177994 | 182859 | 184293 | 5 | (2) | **178432** | 172129 | 4 |
| Allocated capital | **26000** | 26000 | 26000 | 26000 | 26000 |  |  | **26000** | 26000 |  |
| **Selected Balance Sheet Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial  | $**173931** | 170031 | 169958 | 168369 | 163464 | 2 | 6 |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate  | **39227** | 38030 | 44484 | 44788 | 44506 | 3 | (12) |  |  |  |
| &nbsp;&nbsp;&nbsp;Lease financing and other | **15469** | 15174 | 15102 | 15109 | 15348 | 2 | 1 |  |  |  |
| Total loans (1) | $**228627** | 223235 | 229544 | 228266 | 223318 | 2 | 2 |  |  |  |
| Total deposits (1) | **190004** | 176954 | 179848 | 181469 | 188650 | 7 | 1 |  |  |  |

---

(1)In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment.

------

Wells Fargo & Company and Subsidiaries

**CORPORATE AND INVESTMENT BANKING SEGMENT** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| ($ in millions) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| **Income Statement** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $**2082** | 1870 | 1815 | 1790 | 2054 | 11% | 1 | $**7557** | 7935 | (5)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest income: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposit-related fees | **272** | 273 | 266 | 275 | 269 |  | 1 | **1086** | 1073 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lending-related fees | **220** | 214 | 209 | 201 | 221 | 3 |  | **844** | 842 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | **694** | 826 | 700 | 765 | 726 | (16) | (4) | **2985** | 2675 | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gains from trading activities (1) | **927** | 1367 | 1335 | 1358 | 986 | (32) | (6) | **4987** | 5173 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other (1) | **421** | 329 | 348 | 675 | 357 | 28 | 18 | **1773** | 1646 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **2534** | 3009 | 2858 | 3274 | 2559 | (16) | (1) | **11675** | 11409 | 2 |
| Total revenue | **4616** | 4879 | 4673 | 5064 | 4613 | (5) |  | **19232** | 19344 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | **182** | 96 | 75 | 97 | 214 | 90 | (15) | **450** | 909 | (50) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in the allowance for credit losses | **(104)** | (203) | 28 | (97) | (9) | 49 | NM | **(376)** | (388) | 3 |
| Provision for credit losses | **78** | (107) | 103 |  | 205 | 173 | (62) | **74** | 521 | (86) |
| Noninterest expense | **2347** | 2362 | 2251 | 2476 | 2300 | (1) | 2 | **9436** | 9029 | 5 |
| Income before income tax expense | **2191** | 2624 | 2319 | 2588 | 2108 | (17) | 4 | **9722** | 9794 | (1) |
| Income tax expense | **552** | 658 | 582 | 647 | 528 | (16) | 5 | **2439** | 2456 | (1) |
| Net income | $**1639** | 1966 | 1737 | 1941 | 1580 | (17) | 4 | $**7283** | 7338 | (1) |
| **Revenue by Line of Business** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lending | $**656** | 647 | 601 | 618 | 691 | 1 | (5) | $**2522** | 2758 | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasury Management and Payments | **648** | 630 | 611 | 618 | 644 | 3 | 1 | **2507** | 2712 | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Banking | **457** | 554 | 463 | 534 | 491 | (18) | (7) | **2008** | 1814 | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Banking | **1761** | 1831 | 1675 | 1770 | 1826 | (4) | (4) | **7037** | 7284 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial Real Estate | **1236** | 1186 | 1212 | 1449 | 1274 | 4 | (3) | **5083** | 5144 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Markets: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed Income, Currencies, and Commodities (FICC) | **1164** | 1355 | 1391 | 1382 | 1179 | (14) | (1) | **5292** | 5093 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equities | **453** | 450 | 387 | 448 | 385 | 1 | 18 | **1738** | 1789 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Adjustment (CVA/DVA/FVA) and Other (2) | **(15)** | 48 | 1 | (3) | (71) | NM | 79 | **31** | (14) | 321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Markets | **1602** | 1853 | 1779 | 1827 | 1493 | (14) | 7 | **7061** | 6868 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | **17** | 9 | 7 | 18 | 20 | 89 | (15) | **51** | 48 | 6 |
| Total revenue | $**4616** | 4879 | 4673 | 5064 | 4613 | (5) |  | $**19232** | 19344 | (1) |
| **Selected Metrics** |  |  |  |  |  |  |  |  |  |  |
| Return on allocated capital | **13.8%** | 16.8 | 14.9 | 17.0 | 13.4 |  |  | **15.6%** | 15.7 |  |
| Efficiency ratio | **51** | 48 | 48 | 49 | 50 |  |  | **49** | 47 |  |

---

NM – Not meaningful

(1)In fourth quarter 2025, we changed the presentation of certain items on our consolidated balance sheet, including trading assets and liabilities. We also reclassified the gains (losses) related to our physical commodities inventory, including the related hedging impacts, from other noninterest income to net gains from trading activities. Prior period balances have been revised to conform with the current period presentation. See page 27 for additional information.

(2)In fourth quarter 2024, we implemented a change to incorporate funding valuation adjustments (FVA) for our derivatives, which resulted in a loss of $85 million.

------

Wells Fargo & Company and Subsidiaries

**CORPORATE AND INVESTMENT BANKING SEGMENT (continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| ($ in millions) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| **Selected Balance Sheet Data (average)** |  |  |  |  |  |  |  |  |  |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $**233429** | 214774 | 202473 | 192654 | 185677 | 9% | 26 | $**210955** | 183792 | 15% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **79437** | 81121 | 83413 | 84633 | 88285 | (2) | (10) | **82134** | 93247 | (12) |
| Total loans | $**312866** | 295895 | 285886 | 277287 | 273962 | 6 | 14 | $**293089** | 277039 | 6 |
| Loans by Line of Business: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Banking | $**100961** | 92787 | 88994 | 86528 | 85722 | 9 | 18 | $**92358** | 87318 | 6 |
| &nbsp;&nbsp;&nbsp;Commercial Real Estate | **116584** | 117115 | 117917 | 117318 | 119414 |  | (2) | **117232** | 125799 | (7) |
| &nbsp;&nbsp;&nbsp;Markets | **95321** | 85993 | 78975 | 73441 | 68826 | 11 | 38 | **83499** | 63922 | 31 |
| Total loans | $**312866** | 295895 | 285886 | 277287 | 273962 | 6 | 14 | $**293089** | 277039 | 6 |
| Trading-related assets: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Trading assets, excluding derivative assets (1) | $**197928** | 177045 | 158449 | 159548 | 149082 | 12 | 33 | $**173358** | 138764 | 25 |
| &nbsp;&nbsp;&nbsp;Derivative assets | **22392** | 22682 | 23404 | 19688 | 20254 | (1) | 11 | **22051** | 18883 | 17 |
| &nbsp;&nbsp;&nbsp;Reverse repurchase agreements/securities borrowed | **144040** | 115868 | 101894 | 97171 | 87517 | 24 | 65 | **114875** | 72374 | 59 |
| Total trading-related assets (1) | $**364360** | 315595 | 283747 | 276407 | 256853 | 15 | 42 | $**310284** | 230021 | 35 |
| Total assets | **735281** | 679877 | 641499 | 611037 | 588154 | 8 | 25 | **667299** | 568035 | 17 |
| Total deposits | **214520** | 204056 | 202420 | 203914 | 205077 | 5 | 5 | **206251** | 192592 | 7 |
| Allocated capital | **44000** | 44000 | 44000 | 44000 | 44000 |  |  | **44000** | 44000 |  |
| **Selected Balance Sheet Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $**253004** | 224462 | 208161 | 197142 | 192573 | 13 | 31 |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **80505** | 79518 | 82417 | 83522 | 86107 | 1 | (7) |  |  |  |
| Total loans | $**333509** | 303980 | 290578 | 280664 | 278680 | 10 | 20 |  |  |  |
| Loans by Line of Business: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Banking | $**111260** | 95215 | 90999 | 88239 | 86328 | 17 | 29 |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial Real Estate | **118516** | 116314 | 117233 | 116051 | 117213 | 2 | 1 |  |  |  |
| &nbsp;&nbsp;&nbsp;Markets | **103733** | 92451 | 82346 | 76374 | 75139 | 12 | 38 |  |  |  |
| Total loans | $**333509** | 303980 | 290578 | 280664 | 278680 | 10 | 20 |  |  |  |
| Trading-related assets: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Trading assets, excluding derivative assets (1) | $**205356** | 202471 | 168029 | 160166 | 147514 | 1 | 39 |  |  |  |
| &nbsp;&nbsp;&nbsp;Derivative assets | **22474** | 22574 | 24700 | 18883 | 21332 |  | 5 |  |  |  |
| &nbsp;&nbsp;&nbsp;Reverse repurchase agreements/securities borrowed | **170661** | 130196 | 100268 | 122875 | 96470 | 31 | 77 |  |  |  |
| Total trading-related assets (1) | $**398491** | 355241 | 292997 | 301924 | 265316 | 12 | 50 |  |  |  |
| Total assets | **787751** | 715683 | 658029 | 632478 | 597278 | 10 | 32 |  |  |  |
| Total deposits | **224146** | 211051 | 208048 | 209200 | 212948 | 6 | 5 |  |  |  |

---

(1)In fourth quarter 2025, we changed the presentation of certain items on our consolidated balance sheet, including trading assets. Prior period balances have been revised to conform with the current period presentation.

------

Wells Fargo & Company and Subsidiaries

**WEALTH AND INVESTMENT MANAGEMENT SEGMENT** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| ($ in millions, unless otherwise noted) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| **Income Statement** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $**993** | 974 | 891 | 826 | 856 | 2% | 16 | $**3684** | 3473 | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest income: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment advisory and other asset-based fees | **2744** | 2601 | 2440 | 2474 | 2504 | 5 | 10 | **10259** | 9534 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commissions and brokerage services fees | **560** | 557 | 511 | 534 | 539 | 1 | 4 | **2162** | 2153 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | **63** | 64 | 56 | 40 | 59 | (2) | 7 | **223** | 276 | (19) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **3367** | 3222 | 3007 | 3048 | 3102 | 5 | 9 | **12644** | 11963 | 6 |
| Total revenue | **4360** | 4196 | 3898 | 3874 | 3958 | 4 | 10 | **16328** | 15436 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | **—** | (1) | 6 | (6) | (1) | 100 | 100 | **(1)** | (2) | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in the allowance for credit losses | **(9)** | (13) | 6 | 17 | (26) | 31 | 65 | **1** | (20) | 105 |
| Provision for credit losses | **(9)** | (14) | 12 | 11 | (27) | 36 | 67 | **—** | (22) | 100 |
| Noninterest expense | **3492** | 3421 | 3245 | 3360 | 3307 | 2 | 6 | **13518** | 12884 | 5 |
| Income before income tax expense | **877** | 789 | 641 | 503 | 678 | 11 | 29 | **2810** | 2574 | 9 |
| Income tax expense | **221** | 198 | 161 | 111 | 170 | 12 | 30 | **691** | 672 | 3 |
| Net income | $**656** | 591 | 480 | 392 | 508 | 11 | 29 | $**2119** | 1902 | 11 |
| **Selected Metrics** |  |  |  |  |  |  |  |  |  |  |
| Return on allocated capital | **39.1%** | 35.1 | 28.7 | 23.6 | 30.2 |  |  | **31.7%** | 28.3 |  |
| Efficiency ratio | **80** | 82 | 83 | 87 | 84 |  |  | **83** | 83 |  |
| Client assets ($ in billions, period-end): |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Advisory assets  | $**1127** | 1104 | 1042 | 980 | 998 | 2 | 13 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other brokerage assets and deposits  | **1382** | 1369 | 1304 | 1253 | 1295 | 1 | 7 |  |  |  |
| Total client assets | $**2509** | 2473 | 2346 | 2233 | 2293 | 1 | 9 |  |  |  |
| **Selected Balance Sheet Data (average)** |  |  |  |  |  |  |  |  |  |  |
| Total loans | $**88663** | 86150 | 84871 | 84344 | 83570 | 3 | 6 | $**86019** | 83005 | 4 |
| Total deposits | **134539** | 127377 | 123611 | 123378 | 118327 | 6 | 14 | **127257** | 107689 | 18 |
| Allocated capital | **6500** | 6500 | 6500 | 6500 | 6500 |  |  | **6500** | 6500 |  |
| **Selected Balance Sheet Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Total loans | $**90635** | 87752 | 84990 | 84444 | 84340 | 3 | 7 |  |  |  |
| Total deposits | **147616** | 132657 | 122912 | 124582 | 127008 | 11 | 16 |  |  |  |

---

------

Wells Fargo & Company and Subsidiaries

**CORPORATE (1)** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| ($ in millions) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| **Income Statement** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $**(199)** | (273) | (103) | 36 | (264) | 27% | 25 | $**(539)** | (791) | 32% |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | **388** | 449 | 662 | (213) | 368 | (14) | 5 | **1286** | 1129 | 14 |
| Total revenue | **189** | 176 | 559 | (177) | 104 | 7 | 82 | **747** | 338 | 121 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | **(23)** | 10 |  |  | (23) | NM |  | **(13)** | (27) | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in the allowance for credit losses | **(22)** | (14) | (12) | (5) | (4) | (57) | NM | **(53)** | 11 | NM |
| Provision for credit losses | **(45)** | (4) | (12) | (5) | (27) | NM | (67) | **(66)** | (16) | NM |
| Noninterest expense | **624** | 650 | 565 | 457 | 843 | (4) | (26) | **2296** | 3221 | (29) |
| Income (loss) before income tax benefit | **(390)** | (470) | 6 | (629) | (712) | 17 | 45 | **(1483)** | (2867) | 48 |
| Income tax benefit | **(246)** | (173) | (348) | (615) | (1080) | (42) | 77 | **(1382)** | (1884) | 27 |
| Less: Net income (loss) from noncontrolling interests | **60** | 18 | 26 | (92) | 182 | 233 | (67) | **12** | 233 | (95) |
| Net income (loss) | $**(204)** | (315) | 328 | 78 | 186 | 35 | NM | $**(113)** | (1216) | 91 |
| **Selected Balance Sheet Data (average)** |  |  |  |  |  |  |  |  |  |  |
| Available-for-sale debt securities | $**203202** | 188103 | 172879 | 161430 | 153969 | 8 | 32 | $**181536** | 138983 | 31 |
| Held-to-maturity debt securities | **206595** | 214409 | 220364 | 226714 | 235661 | (4) | (12) | **216958** | 246577 | (12) |
| Equity investments | **16062** | 16450 | 15493 | 15398 | 15027 | (2) | 7 | **15854** | 15441 | 3 |
| Total assets | **638732** | 636359 | 601010 | 618339 | 639324 |  |  | **623701** | 652024 | (4) |
| Total deposits | **69024** | 55201 | 46242 | 50576 | 72508 | 25 | (5) | **55311** | 98845 | (44) |
| **Selected Balance Sheet Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Available-for-sale debt securities | $**205670** | 198665 | 176235 | 167634 | 154397 | 4 | 33 |  |  |  |
| Held-to-maturity debt securities | **204811** | 211069 | 218360 | 224111 | 231892 | (3) | (12) |  |  |  |
| Equity investments | **16451** | 16273 | 15907 | 15138 | 15437 | 1 | 7 |  |  |  |
| Total assets | **638664** | 642044 | 624556 | 621445 | 633799 | (1) | 1 |  |  |  |
| Total deposits | **73479** | 64407 | 48917 | 47636 | 59708 | 14 | 23 |  |  |  |

---

NM – Not meaningful

(1)All other business activities that are not included in the reportable operating segments have been included in Corporate. Corporate includes corporate treasury and enterprise functions, net of expense allocations, in support of the reportable operating segments (including funds transfer pricing, capital, and liquidity), as well as our investment portfolio and venture capital and private equity investments. Corporate also includes certain lines of business that management has determined are no longer consistent with the long-term strategic goals of the Company as well as results for previously divested businesses.

------

Wells Fargo & Company and Subsidiaries

**CONSOLIDATED LOANS OUTSTANDING – PERIOD-END BALANCES, AVERAGE BALANCES, AND AVERAGE INTEREST RATES**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 <br>$ Change from | Dec 31, 2025 <br>$ Change from |
| ($ in millions) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 |
| **Period-End Loans** |  |  |  |  |  |  |  |
| Commercial and industrial | $**452068** | 417904 | 402150 | 390533 | 381241 | 34164 | 70827 |
| Commercial real estate | **132284** | 130250 | 132560 | 134035 | 136505 | 2034 | (4221) |
| Lease financing | **15543** | 15311 | 15060 | 16131 | 16413 | 232 | (870) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **599895** | 563465 | 549770 | 540699 | 534159 | 36430 | 65736 |
| Residential mortgage | **242190** | 243910 | 245755 | 247613 | 250269 | (1720) | (8079) |
| Credit card | **59540** | 56996 | 55318 | 54608 | 56542 | 2544 | 2998 |
| Auto | **50487** | 46041 | 42878 | 41482 | 42367 | 4446 | 8120 |
| Other consumer (1) | **34055** | 32690 | 30697 | 29440 | 29408 | 1365 | 4647 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **386272** | 379637 | 374648 | 373143 | 378586 | 6635 | 7686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | $**986167** | 943102 | 924418 | 913842 | 912745 | 43065 | 73422 |
| **Average Loans** |  |  |  |  |  |  |  |
| Commercial and industrial | $**427616** | 405753 | 393602 | 381702 | 372848 | 21863 | 54768 |
| Commercial real estate | **130507** | 131623 | 133661 | 135271 | 139111 | (1116) | (8604) |
| Lease financing | **15243** | 14986 | 16046 | 16182 | 16301 | 257 | (1058) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **573366** | 552362 | 543309 | 533155 | 528260 | 21004 | 45106 |
| Residential mortgage | **242848** | 244562 | 246512 | 248739 | 251256 | (1714) | (8408) |
| Credit card | **58245** | 56420 | 54985 | 55363 | 55699 | 1825 | 2546 |
| Auto | **48231** | 44292 | 41865 | 41967 | 42466 | 3939 | 5765 |
| Other consumer | **33159** | 31041 | 30048 | 28958 | 28672 | 2118 | 4487 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **382483** | 376315 | 373410 | 375027 | 378093 | 6168 | 4390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | $**955849** | 928677 | 916719 | 908182 | 906353 | 27172 | 49496 |
| **Average Interest Rates** |  |  |  |  |  |  |  |
| Commercial and industrial | **5.94%** | 6.26 | 6.29 | 6.34 | 6.73 |  |  |
| Commercial real estate | **5.94** | 6.15 | 6.17 | 6.19 | 6.52 |  |  |
| Lease financing | **5.86** | 5.85 | 5.72 | 5.78 | 5.77 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **5.93** | 6.23 | 6.24 | 6.28 | 6.65 |  |  |
| Residential mortgage | **3.72** | 3.72 | 3.70 | 3.68 | 3.68 |  |  |
| Credit card | **12.27** | 12.70 | 12.65 | 12.74 | 12.53 |  |  |
| Auto | **5.70** | 5.59 | 5.48 | 5.33 | 5.29 |  |  |
| Other consumer | **6.98** | 7.40 | 7.47 | 7.61 | 7.97 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **5.55** | 5.59 | 5.52 | 5.51 | 5.48 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | **5.78** | 5.97 | 5.95 | 5.96 | 6.16 |  |  |

---

(1)Includes $26.2 billion, $25.1 billion, $23.1 billion, $21.7 billion, and $21.4 billion at December 31, September 30, June 30, and March 31, 2025, and December 31, 2024, respectively, of securities-based loans originated by the Wealth and Investment Management operating segment.

------

Wells Fargo & Company and Subsidiaries

**NET LOAN CHARGE-OFFS**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | | |
| | **Dec 31, 2025** | **Dec 31, 2025** | Sep 30, 2025 | Sep 30, 2025 | Jun 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Mar 31, 2025 | Dec 31, 2024 | Dec 31, 2024 | Dec 31, 2025 <br>$ Change from | Dec 31, 2025 <br>$ Change from |
| ($ in millions) | **Net loan <br>charge-offs** | **As a % of average loans (1)** | Net loan <br>charge-offs | As a % of average loans (1) | Net loan <br>charge-offs | As a % of average loans (1) | Net loan <br>charge-offs | As a % of average loans (1) | Net loan <br>charge-offs | As a % of average loans (1) | Sep 30,<br>2025 | Dec 31,<br>2024 |
| By product: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $**157** | **0.15%** | $131 | 0.13% | $179 | 0.18% | $108 | 0.11% | $132 | 0.14% | $26 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | **158** | **0.48** | 107 | 0.32 | 61 | 0.18 | 95 | 0.28 | 261 | 0.74 | 51 | (103) |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease financing | **10** | **0.26** | 12 | 0.32 | 7 | 0.17 | 8 | 0.20 | 10 | 0.23 | (2) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **325** | **0.22** | 250 | 0.18 | 247 | 0.18 | 211 | 0.16 | 403 | 0.30 | 75 | (78) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | **(13)** | **(0.02)** | (22) | (0.04) | (3) |  | (15) | (0.02) | (14) | (0.02) | 9 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | **583** | **3.97** | 571 | 4.02 | 622 | 4.54 | 650 | 4.76 | 628 | 4.49 | 12 | (45) |
| &nbsp;&nbsp;&nbsp;&nbsp;Auto | **60** | **0.49** | 50 | 0.45 | 30 | 0.29 | 64 | 0.62 | 82 | 0.77 | 10 | (22) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | **91** | **1.09** | 93 | 1.19 | 101 | 1.35 | 99 | 1.39 | 112 | 1.56 | (2) | (21) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **721** | **0.75** | 692 | 0.73 | 750 | 0.81 | 798 | 0.86 | 808 | 0.85 | 29 | (87) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total net loan charge-offs | $**1046** | **0.43%** | $942 | 0.40% | $997 | 0.44% | $1009 | 0.45% | $1211 | 0.53% | $104 | (165) |
| By segment: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer Banking and Lending | $**775** | **0.93%** | $766 | 0.93% | $818 | 1.04% | $877 | 1.12% | $887 | 1.10% | $9 | (112) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial Banking | **90** | **0.16** | 83 | 0.15 | 98 | 0.17 | 41 | 0.07 | 111 | 0.20 | 7 | (21) |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate and Investing Banking | **181** | **0.23** | 94 | 0.13 | 75 | 0.11 | 97 | 0.14 | 214 | 0.31 | 87 | (33) |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth and Investment Management | **—** | **—** | (1) |  | 6 | 0.03 | (6) | (0.03) | (1) |  | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate | **—** | **—** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total net loan charge-offs | $**1046** | **0.43%** | $942 | 0.40% | $997 | 0.44% | $1009 | 0.45% | $1211 | 0.53% | $104 | (165) |

---

(1)Quarterly net loan charge-offs (recoveries) as a percentage of average loans are annualized.

------

Wells Fargo & Company and Subsidiaries

**CHANGES IN ALLOWANCE FOR CREDIT LOSSES FOR LOANS**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 <br>$ Change from | Dec 31, 2025 <br>$ Change from |
| ($ in millions) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 |
| **Balance, beginning of period** | $**14311** | 14568 | 14552 | 14636 | 14739 | (257) | (428) |
| Provision for credit losses for loans | **1071** | 687 | 1007 | 925 | 1116 | 384 | (45) |
| Net loan charge-offs: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | **(157)** | (131) | (179) | (108) | (132) | (26) | (25) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | **(158)** | (107) | (61) | (95) | (261) | (51) | 103 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease financing | **(10)** | (12) | (7) | (8) | (10) | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **(325)** | (250) | (247) | (211) | (403) | (75) | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | **13** | 22 | 3 | 15 | 14 | (9) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | **(583)** | (571) | (622) | (650) | (628) | (12) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;Auto | **(60)** | (50) | (30) | (64) | (82) | (10) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | **(91)** | (93) | (101) | (99) | (112) | 2 | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **(721)** | (692) | (750) | (798) | (808) | (29) | 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loan charge-offs | **(1046)** | (942) | (997) | (1009) | (1211) | (104) | 165 |
| Other | **1** | (2) | 6 |  | (8) | 3 | 9 |
| **Balance, end of period** | $**14337** | 14311 | 14568 | 14552 | 14636 | 26 | (299) |
| Components: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan losses | $**13797** | 13744 | 13961 | 14029 | 14183 | 53 | (386) |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for unfunded credit commitments | **540** | 567 | 607 | 523 | 453 | (27) | 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses for loans | $**14337** | 14311 | 14568 | 14552 | 14636 | 26 | (299) |
| Ratio of allowance for loan losses to total net loan charge-offs (annualized) | **3.32x** | 3.68 | 3.49 | 3.43 | 2.95 |  |  |
| Allowance for loan losses as a percentage of: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans | **1.40%** | 1.46 | 1.51 | 1.54 | 1.55 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual loans | **168** | 181 | 180 | 176 | 183 |  |  |
| Allowance for credit losses for loans as a percentage of: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans | **1.45** | 1.52 | 1.58 | 1.59 | 1.60 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual loans | **175** | 188 | 188 | 182 | 189 |  |  |

---

------

Wells Fargo & Company and Subsidiaries

**ALLOCATION OF ALLOWANCE FOR CREDIT LOSSES FOR LOANS**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Dec 31, 2025** | **Dec 31, 2025** | Sep 30, 2025 | Sep 30, 2025 | Jun 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Mar 31, 2025 | Dec 31, 2024 | Dec 31, 2024 |
| ($ in millions) | **ACL** | **ACL<br>as %<br>of loan<br>class** | ACL | ACL<br>as %<br>of loan<br>class | ACL | ACL<br>as %<br>of loan<br>class | ACL | ACL<br>as %<br>of loan<br>class | ACL | ACL<br>as %<br>of loan<br>class |
| By product: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $**4510** | **1.00%** | $4376 | 1.05% | $4306 | 1.07% | $4331 | 1.11% | $4151 | 1.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | **2737** | **2.07** | 2965 | 2.28 | 3317 | 2.50 | 3365 | 2.51 | 3583 | 2.62 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease financing | **210** | **1.35** | 211 | 1.38 | 212 | 1.41 | 234 | 1.45 | 212 | 1.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **7457** | **1.24** | 7552 | 1.34 | 7835 | 1.43 | 7930 | 1.47 | 7946 | 1.49 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage (1) | **555** | **0.23** | 569 | 0.23 | 568 | 0.23 | 542 | 0.22 | 541 | 0.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | **4956** | **8.32** | 4907 | 8.61 | 4910 | 8.88 | 4840 | 8.86 | 4869 | 8.61 |
| &nbsp;&nbsp;&nbsp;&nbsp;Auto | **817** | **1.62** | 717 | 1.56 | 657 | 1.53 | 629 | 1.52 | 636 | 1.50 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | **552** | **1.62** | 566 | 1.73 | 598 | 1.95 | 611 | 2.08 | 644 | 2.19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **6880** | **1.78** | 6759 | 1.78 | 6733 | 1.80 | 6622 | 1.77 | 6690 | 1.77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total allowance for credit losses for loans | $**14337** | **1.45%** | $14311 | 1.52% | $14568 | 1.58% | $14552 | 1.59% | $14636 | 1.60% |
| By segment: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer Banking and Lending | $**7734** | **2.33%** | $7599 | 2.32% | $7458 | 2.36% | $7332 | 2.32% | $7470 | 2.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial Banking | **2194** | **0.96** | 2184 | 0.98 | 2368 | 1.03 | 2509 | 1.10 | 2364 | 1.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate and Investing Banking | **4167** | **1.25** | 4275 | 1.41 | 4470 | 1.54 | 4444 | 1.58 | 4551 | 1.63 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth and Investment Management | **241** | **0.27** | 251 | 0.29 | 264 | 0.31 | 258 | 0.31 | 241 | 0.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate | **1** | **0.11** | 2 | 0.22 | 8 | 0.27 | 9 | 0.20 | 10 | 0.20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total allowance for credit losses for loans | $**14337** | **1.45%** | $14311 | 1.52% | $14568 | 1.58% | $14552 | 1.59% | $14636 | 1.60% |

---

(1)Includes negative allowance for expected recoveries of amounts previously charged off.

------

Wells Fargo & Company and Subsidiaries

**NONPERFORMING ASSETS (NONACCRUAL LOANS AND FORECLOSED ASSETS)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Dec 31, 2025** | **Dec 31, 2025** | Sep 30, 2025 | Sep 30, 2025 | Jun 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Mar 31, 2025 | Dec 31, 2024 | Dec 31, 2024 | Dec 31, 2025 <br>$ Change from | Dec 31, 2025 <br>$ Change from |
| ($ in millions) | **Balance** | **% of<br>total<br>loans** | Balance | % of<br>total<br>loans | Balance | % of<br>total<br>loans | Balance | % of<br>total<br>loans | Balance | % of<br>total<br>loans | Sep 30,<br>2025 | Dec 31,<br>2024 |
| By product: |  |  |  |  |  |  |  |  |  |  |  |  |
| Nonaccrual loans: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $**1312** | **0.29%** | $1050 | 0.25% | $925 | 0.23% | $969 | 0.25% | $763 | 0.20% | $262 | 549 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | **3879** | **2.93** | 3334 | 2.56 | 3556 | 2.68 | 3836 | 2.86 | 3771 | 2.76 | 545 | 108 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease financing | **75** | **0.48** | 75 | 0.49 | 82 | 0.54 | 78 | 0.48 | 84 | 0.51 |  | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **5266** | **0.88** | 4459 | 0.79 | 4563 | 0.83 | 4883 | 0.90 | 4618 | 0.86 | 807 | 648 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage (1) | **2838** | **1.17** | 3057 | 1.25 | 3090 | 1.26 | 2982 | 1.20 | 2991 | 1.20 | (219) | (153) |
| &nbsp;&nbsp;&nbsp;&nbsp;Auto | **70** | **0.14** | 71 | 0.15 | 76 | 0.18 | 83 | 0.20 | 89 | 0.21 | (1) | (19) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | **27** | **0.08** | 27 | 0.08 | 28 | 0.09 | 30 | 0.10 | 32 | 0.11 |  | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **2935** | **0.76** | 3155 | 0.83 | 3194 | 0.85 | 3095 | 0.83 | 3112 | 0.82 | (220) | (177) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonaccrual loans | **8201** | **0.83** | 7614 | 0.81 | 7757 | 0.84 | 7978 | 0.87 | 7730 | 0.85 | 587 | 471 |
| Foreclosed assets | **302** |  | 218 |  | 207 |  | 247 |  | 206 |  | 84 | 96 |
| Total nonperforming assets | $**8503** | **0.86%** | $7832 | 0.83% | $7964 | 0.86% | $8225 | 0.90% | $7936 | 0.87% | $671 | 567 |
| By segment: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer Banking and Lending | $**2941** | **0.88%** | $3181 | 0.97% | $3054 | 0.97% | $3011 | 0.95% | $3029 | 0.94% | $(240) | (88) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial Banking | **1324** | **0.58** | 1086 | 0.49 | 1489 | 0.65 | 1536 | 0.67 | 1173 | 0.53 | 238 | 151 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate and Investing Banking | **3973** | **1.19** | 3276 | 1.08 | 3132 | 1.08 | 3442 | 1.23 | 3508 | 1.26 | 697 | 465 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth and Investment Management | **265** | **0.29** | 289 | 0.33 | 289 | 0.34 | 236 | 0.28 | 226 | 0.27 | (24) | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate | **—** | **—** |  |  |  |  |  |  |  |  |  |  |
| Total nonperforming assets | $**8503** | **0.86%** | $7832 | 0.83% | $7964 | 0.86% | $8225 | 0.90% | $7936 | 0.87% | $671 | 567 |

---

(1)Residential mortgage loans are not placed on nonaccrual status when they are insured or guaranteed by U.S. government agencies, such as the Federal Housing Administration or the Department of Veterans Affairs.

------

Wells Fargo & Company and Subsidiaries

**COMMERCIAL LOAN PORTFOLIO**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Dec 31, 2025** | **Dec 31, 2025** | **Dec 31, 2025** | Sep 30, 2025 | Sep 30, 2025 | Sep 30, 2025 | Dec 31, 2024 | Dec 31, 2024 | Dec 31, 2024 |
| ($ in millions) | **Nonaccrual<br>loans** | **Loans outstanding balance** | **Total commitments (1)** | Nonaccrual<br>loans | Loans outstanding balance | Total commitments (1) | Nonaccrual<br>loans | Loans outstanding balance | Total commitments (1) |
| **Commercial and industrial loans and lease financing by industry:** | **Commercial and industrial loans and lease financing by industry:** | **Commercial and industrial loans and lease financing by industry:** | **Commercial and industrial loans and lease financing by industry:** |  |  |  |  |  |  |
| Financials except banks |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset managers and funds (2) | $**1** | **84854** | **141129** | 1 | 71882 | 124442 | 1 | 59847 | 106926 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial finance (3) | **108** | **60955** | **97757** | 20 | 56374 | 93431 | 2 | 51786 | 84652 |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer finance (4) | **129** | **27794** | **45321** | 133 | 24280 | 41054 | 5 | 20840 | 34669 |
| &nbsp;&nbsp;&nbsp;&nbsp;Real estate finance (5) | **7** | **34514** | **39043** | 11 | 31101 | 34498 | 16 | 24358 | 29329 |
| Total financials except banks | **245** | **208117** | **323250** | 165 | 183637 | 293425 | 24 | 156831 | 255576 |
| Technology, telecom and media | **49** | **26552** | **78922** | 117 | 25353 | 65988 | 106 | 23590 | 61813 |
| Real estate and construction | **66** | **29321** | **60900** | 70 | 29329 | 60547 | 92 | 24839 | 52741 |
| Equipment, machinery and parts manufacturing | **33** | **25985** | **54078** | 66 | 24949 | 51903 | 35 | 25135 | 51150 |
| Retail | **208** | **19644** | **42865** | 85 | 20454 | 43224 | 91 | 17709 | 43374 |
| Materials and commodities | **100** | **13609** | **35731** | 104 | 14217 | 34747 | 100 | 13624 | 37365 |
| Food and beverage manufacturing | **286** | **17838** | **33951** | 8 | 17273 | 33241 | 9 | 16665 | 35079 |
| Auto related | **7** | **16984** | **32169** | 6 | 16061 | 30748 | 8 | 16507 | 30537 |
| Oil, gas and pipelines | **3** | **10237** | **31738** | 5 | 9709 | 30047 | 3 | 10503 | 30486 |
| Health care and pharmaceuticals | **22** | **13513** | **31552** | 35 | 13811 | 31365 | 27 | 13620 | 30726 |
| Diversified or miscellaneous | **58** | **11905** | **29908** | 77 | 11757 | 27608 | 9 | 9115 | 22847 |
| Utilities | **18** | **8232** | **28187** | 18 | 8132 | 27919 |  | 6641 | 24735 |
| Commercial services | **65** | **11481** | **27563** | 76 | 10848 | 27673 | 78 | 11152 | 26968 |
| Entertainment and recreation | **17** | **13208** | **20841** | 23 | 12253 | 18388 | 53 | 12672 | 19691 |
| Insurance and fiduciaries | **1** | **6128** | **19223** | 1 | 4863 | 16915 | 2 | 4368 | 15753 |
| Transportation services | **156** | **8237** | **16737** | 183 | 7974 | 15646 | 154 | 9560 | 16477 |
| Other | **53** | **26620** | **45906** | 86 | 22595 | 41561 | 56 | 25123 | 44324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial and industrial loans and lease financing | **1387** | **467611** | **913521** | 1125 | 433215 | 850945 | 847 | 397654 | 799642 |
| **Commercial real estate loans by property type (6):** | **Commercial real estate loans by property type (6):** | **Commercial real estate loans by property type (6):** | **Commercial real estate loans by property type (6):** |  |  |  |  |  |  |
| Apartments | **386** | **36974** | **41554** | 287 | 37677 | 41732 | 85 | 39758 | 44783 |
| Industrial/warehouse | **42** | **25959** | **31377** | 46 | 23854 | 30020 | 74 | 24038 | 26178 |
| Office | **2461** | **21958** | **23360** | 2450 | 23670 | 24613 | 3136 | 27380 | 28768 |
| Hotel/motel | **719** | **12764** | **13154** | 289 | 11882 | 12262 | 190 | 11506 | 12015 |
| Retail (excluding shopping center) | **43** | **10568** | **11476** | 96 | 10714 | 11687 | 161 | 11345 | 11951 |
| Shopping center | **53** | **9353** | **9800** | 55 | 8092 | 8514 | 93 | 8113 | 8571 |
| Institutional | **11** | **5402** | **5852** | 12 | 5891 | 6151 | 12 | 5186 | 5524 |
| Other | **164** | **9306** | **11080** | 99 | 8470 | 10375 | 20 | 9179 | 11220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial real estate loans | **3879** | **132284** | **147653** | 3334 | 130250 | 145354 | 3771 | 136505 | 149010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial loans | $**5266** | **599895** | **1061174** | 4459 | 563465 | 996299 | 4618 | 534159 | 948652 |

---

(1)Total commitments consist of loans outstanding plus unfunded credit commitments, excluding issued letters of credit and discretionary amounts where our approval or consent is required prior to any loan funding or commitment increase.

(2)Includes loans for subscription or capital calls and loans to prime brokerage customers and securities firms.

(3)Includes asset-based lending and leasing, including loans to special purpose entities, loans to commercial leasing entities, and structured lending facilities to commercial loan managers.

(4)Includes originators or servicers of financial assets collateralized by consumer loans such as auto loans and leases, and credit cards.

(5)Includes originators or servicers of financial assets collateralized by commercial or residential real estate loans.

(6)Our commercial real estate (CRE) loan portfolio is comprised of CRE mortgage and CRE construction loans.

------

Wells Fargo & Company and Subsidiaries <br>**TANGIBLE COMMON EQUITY**

We also evaluate our business based on certain ratios that utilize tangible common equity. Tangible common equity is a non-GAAP financial measure and represents total equity less preferred equity, noncontrolling interests, goodwill, certain identifiable intangible assets (other than MSRs) and goodwill and other intangibles on venture capital investments in consolidated portfolio companies, net of applicable deferred taxes. The ratios are (i) tangible book value per common share, which represents tangible common equity divided by common shares outstanding; and (ii) return on average tangible common equity (ROTCE), which represents our annualized earnings as a percentage of tangible common equity. The methodology of determining tangible common equity may differ among companies. Management believes that tangible book value per common share and return on average tangible common equity, which utilize tangible common equity, are useful financial measures because they enable management, investors, and others to assess the Company's use of equity.

The tables below provide a reconciliation of these non-GAAP financial measures to GAAP financial measures.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from |
| ($ in millions)  |  | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 |
| Tangible book value per common share: |  |  |  |  |  |  |  |  |
| Total equity |  | $**183038** | 183012 | 182954 | 182906 | 181066 | —% | 1 |
| Adjustments: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock |  | **(16608)** | (16608) | (16608) | (18608) | (18608) |  | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital on preferred stock |  | **141** | 141 | 141 | 145 | 144 |  | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests |  | **(1920)** | (1858) | (1843) | (1816) | (1946) | (3) | 1 |
| Total common stockholders' equity | (A) | **164651** | 164687 | 164644 | 162627 | 160656 |  | 2 |
| Adjustments: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill |  | **(24967)** | (25069) | (25071) | (25066) | (25167) |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Certain identifiable intangible assets (other than MSRs) |  | **(823)** | (863) | (902) | (65) | (73) | 5 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) |  | **(705)** | (698) | (674) | (674) | (735) | (1) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Applicable deferred taxes related to goodwill and other intangible assets (1) |  | **1063** | 1062 | 1060 | 954 | 947 |  | 12 |
| **Tangible common equity** | (B) | $**139219** | 139119 | 139057 | 137776 | 135628 |  | 3 |
| Common shares outstanding | (C) | **3092.6** | 3148.9 | 3220.4 | 3261.7 | 3288.9 | (2) | (6) |
| Book value per common share | (A)/(C) | $**53.24** | 52.30 | 51.13 | 49.86 | 48.85 | 2 | 9 |
| Tangible book value per common share | (B)/(C) | **45.02** | 44.18 | 43.18 | 42.24 | 41.24 | 2 | 9 |

---

NM – Not meaningful

(1)Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period-end.

------

Wells Fargo & Company and Subsidiaries <br>**TANGIBLE COMMON EQUITY (continued)** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| ($ in millions)  |  | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| Return on average tangible common equity: |  |  |  |  |  |  |  |  |  |  |  |
| Net income applicable to common stock | (A) | $**5114** | 5341 | 5214 | 4616 | 4801 | (4)% | 7 | $**20285** | 18606 | 9% |
| Average total equity |  | **183844** | 183428 | 183268 | 183358 | 182933 |  |  | **183476** | 183879 |  |
| Adjustments: |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock  |  | **(16608)** | (16608) | (18278) | (18608) | (18608) |  | 11 | **(17517)** | (18581) | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital on preferred stock |  | **141** | 141 | 143 | 145 | 144 |  | (2) | **142** | 147 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests |  | **(1879)** | (1850) | (1818) | (1894) | (1803) | (2) | (4) | **(1860)** | (1751) | (6) |
| Average common stockholders' equity | (B) | **165498** | 165111 | 163315 | 163001 | 162666 |  | 2 | **164241** | 163694 |  |
| Adjustments: |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill |  | **(25055)** | (25070) | (25070) | (25135) | (25170) |  |  | **(25082)** | (25172) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Certain identifiable intangible assets (other than MSRs) |  | **(847)** | (889) | (863) | (69) | (78) | 5 | NM | **(670)** | (95) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) |  | **(698)** | (674) | (674) | (734) | (772) | (4) | 10 | **(695)** | (895) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Applicable deferred taxes related to goodwill and other intangible assets (1) |  | **1063** | 1061 | 989 | 952 | 945 |  | 12 | **1355** | 935 | 45 |
| **Average tangible common equity** | (C) | $**139961** | 139539 | 137697 | 138015 | 137591 |  | 2 | $**139149** | 138467 |  |
| Return on average common stockholders' equity (ROE) (annualized) | (A)/(B) | **12.3%** | 12.8 | 12.8 | 11.5 | 11.7 |  |  | **12.4%** | 11.4% |  |
| Return on average tangible common equity (ROTCE) (annualized) | (A)/(C) | **14.5** | 15.2 | 15.2 | 13.6 | 13.9 |  |  | **14.6** | 13.4 |  |

---

NM – Not meaningful

(1)Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period-end.

------

Wells Fargo & Company and Subsidiaries

**RISK-BASED CAPITAL RATIOS UNDER BASEL III (1)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Estimated** | | | | |
| ($ in billions)  |  | **Dec 31, 2025** | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 |
| Total equity  |  | $**183.0** | 183.0 | 183.0 | 182.9 | 181.1 |
| Adjustments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock |  | **(16.6)** | (16.6) | (16.6) | (18.6) | (18.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital on preferred stock |  | **0.1** | 0.2 | 0.1 | 0.1 | 0.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests |  | **(1.8)** | (1.9) | (1.9) | (1.8) | (1.9) |
| Total common stockholders' equity |  | **164.7** | 164.7 | 164.6 | 162.6 | 160.7 |
| Adjustments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill |  | **(25.0)** | (25.1) | (25.1) | (25.1) | (25.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Certain identifiable intangible assets (other than MSRs) |  | **(0.8)** | (0.9) | (0.9) | (0.1) | (0.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) |  | **(0.7)** | (0.7) | (0.7) | (0.7) | (0.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Applicable deferred taxes related to goodwill and other intangible assets (2) |  | **1.1** | 1.1 | 1.1 | 1.0 | 0.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other |  | **(2.0)** | (2.5) | (2.6) | (2.1) | (1.0) |
| Common Equity Tier 1 under the Standardized and Advanced Approaches | (A) | **137.3** | 136.6 | 136.4 | 135.6 | 134.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock |  | **16.6** | 16.6 | 16.6 | 18.6 | 18.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital on preferred stock |  | **(0.1)** | (0.2) | (0.1) | (0.1) | (0.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other |  | **(0.2)** | (0.2) | (0.2) | (0.2) | (0.2) |
| Total Tier 1 capital under the Standardized and Advanced Approaches | (B) | **153.6** | 152.8 | 152.7 | 153.9 | 152.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term debt and other instruments qualifying as Tier 2 |  | **16.8** | 16.7 | 17.3 | 17.6 | 17.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Qualifying allowance for credit losses (3) |  | **14.6** | 14.6 | 14.6 | 14.4 | 14.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other |  | **(0.3)** | (0.4) | (0.4) | (0.4) | (0.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Tier 2 capital under the Standardized Approach | (C) | **31.1** | 30.9 | 31.5 | 31.6 | 31.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total qualifying capital under the Standardized Approach | (B)+(C) | $**184.7** | 183.7 | 184.2 | 185.5 | 184.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term debt and other instruments qualifying as Tier 2 |  | **16.8** | 16.7 | 17.3 | 17.6 | 17.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Qualifying allowance for credit losses (3) |  | **4.5** | 4.4 | 4.3 | 4.3 | 4.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other |  | **(0.3)** | (0.4) | (0.4) | (0.4) | (0.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Tier 2 capital under the Advanced Approach | (D) | **21.0** | 20.7 | 21.2 | 21.5 | 21.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total qualifying capital under the Advanced Approach | (B)+(D) | $**174.6** | 173.5 | 173.9 | 175.4 | 174.5 |
| Total risk-weighted assets (RWAs) under the Standardized Approach | (E) | $**1293.4** | 1242.4 | 1225.9 | 1222.0 | 1216.1 |
| Total RWAs under the Advanced Approach | (F) | $**1113.2** | 1072.2 | 1070.4 | 1063.6 | 1085.0 |
| **Ratios under the Standardized Approach:** |  |  |  |  |  |  |
| Common Equity Tier 1 | (A)/(E) | **10.6%** | 11.0 | 11.1 | 11.1 | 11.1 |
| Tier 1 capital | (B)/(E) | **11.9** | 12.3 | 12.5 | 12.6 | 12.6 |
| Total capital | (B)+(C)/(E) | **14.3** | 14.8 | 15.0 | 15.2 | 15.2 |
| **Ratios under the Advanced Approach:** |  |  |  |  |  |  |
| Common Equity Tier 1 | (A)/(F) | **12.3%** | 12.7 | 12.7 | 12.7 | 12.4 |
| Tier 1 capital | (B)/(F) | **13.8** | 14.3 | 14.3 | 14.5 | 14.1 |
| Total capital | (B)+(D)/(F) | **15.7** | 16.2 | 16.2 | 16.5 | 16.1 |

---

(1)The Basel III capital rules provide for two capital frameworks (the Standardized Approach and the Advanced Approach applicable to certain institutions), and we must calculate our CET1, Tier 1 and total capital ratios under both approaches.

(2)Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period-end.

(3)Differences between the approaches are driven by the qualifying amounts of ACL includable in Tier 2 capital. Under the Advanced Approach, eligible credit reserves represented by the amount of qualifying ACL in excess of expected credit losses (using regulatory definitions) is limited to 0.60% of Advanced credit RWAs, whereas the Standardized Approach includes ACL in Tier 2 capital up to 1.25% of Standardized credit RWAs. Under both approaches, any excess ACL is deducted from the respective total RWAs.

------

Wells Fargo & Company and Subsidiaries

**NET INTEREST INCOME EXCLUDING MARKETS** 

We also evaluate the Company's net interest income excluding the net interest income of the Corporate and Investment Banking Markets (Markets) line of business. Net interest income excluding Markets is a non-GAAP financial measure that management believes is useful because it enables management, investors, and others to assess the net interest income from the Company's lending, investing, and deposit-raising activities without the volatility that may be associated with Markets activities.

The table below provides a reconciliation of this non-GAAP financial measure to a GAAP financial measure.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Dec 31, 2025 % Change from | Dec 31, 2025 % Change from | Year ended | Year ended | |
| ($ in millions) | **Dec 31,<br>2025** | Sep 30,<br>2025 | Jun 30,<br>2025 | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2025 | Dec 31,<br>2024 | **Dec 31,<br>2025** | Dec 31,<br>2024 | %<br>Change |
| Net interest income | $**12331** | 11950 | 11708 | 11495 | 11836 | 3% | 4 | $**47484** | 47676 | —% |
| Markets net interest income | **358** | 144 | 104 | 131 | 180 | 149 | 99 | **737** | 396 | 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income excluding Markets | $**11973** | 11806 | 11604 | 11364 | 11656 | 1% | 3 | $**46747** | 47280 | (1)% |

---

**CHANGES IN TRADING ASSETS AND LIABILITIES**

In fourth quarter 2025, we changed the presentation of certain items on our consolidated balance sheet, including trading assets and liabilities. We also reclassified the gains (losses) related to our physical commodities inventory, including the related hedging impacts, from other noninterest income to net gains from trading activities. Prior period balances have been revised to conform with the current period presentation. The table below presents the impact of these changes to our consolidated statement of income.

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Year ended | Year ended | Year ended |
| | September 30, 2025 | September 30, 2025 | September 30, 2025 | June 30, 2025 | June 30, 2025 | June 30, 2025 | March 31, 2025 | March 31, 2025 | March 31, 2025 | December 31, 2024 | December 31, 2024 | December 31, 2024 | December 31, 2024 | December 31, 2024 | December 31, 2024 |
| ($ in millions) | As previously<br>reported | Effect of change (1) | As revised | As previously<br>reported | Effect of change (1) | As revised | As previously<br>reported | Effect of change (1) | As revised | As previously<br>reported | Effect of change (1) | As revised | As previously<br>reported | Effect of change (1) | As revised |
| **Selected Income Statement Data** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Noninterest income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net gains from trading activities | $1466 | (58) | 1408 | 1270 | 106 | 1376 | 1373 | 11 | 1384 | 950 | 53 | 1003 | 5284 | 82 | 5366 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other noninterest income (1) | 555 | 58 | 613 | 895 | (106) | 789 | 813 | (11) | 802 | 396 | (53) | 343 | 2321 | (82) | 2239 |

---

(1)Other noninterest income includes lease income, which was previously separately disclosed on our consolidated statement of income.

## Exhibit 99.3

![](ex993-wellsfargo4q25pres001.jpg)© 2026 Wells Fargo Bank, N.A. All rights reserved. 4Q25 Financial Results January 14, 2026 Exhibit 99.3

------

![](ex993-wellsfargo4q25pres002.jpg)

24Q25 Financial Results 4Q25 results Financial Results ROE: 12.3% ROTCE: 14.5%1 Efficiency ratio: 64%2 Credit Quality Capital and Liquidity CET1 ratio: 10.6%6 LCR: 119%7 TLAC ratio: 23.2%8 • Provision for credit losses5 of $1.0 billion – Total net loan charge-offs of $1.0 billion, down $165 million, with net loan charge-offs of 0.43% of average loans (annualized) – Allowance for credit losses for loans of $14.3 billion, down 2% • Common Equity Tier 1 (CET1) capital6 of $137.3 billion • CET1 ratio6 of 10.6% under the Standardized Approach • Liquidity coverage ratio (LCR)7 of 119% • Net Income of $5.4 billion, or $1.62 per diluted share, included $612 million (pre-tax), or $0.14 per share, of severance expense – Net income, excluding severance expense, of $5.8 billion, or $1.76 per diluted share3 • Revenue of $21.3 billion, up 4% – Net interest income of $12.3 billion, up 4% – Noninterest income of $9.0 billion, up 5% • Noninterest expense of $13.7 billion, down 1% • Pre-tax pre-provision profit4 of $7.6 billion, up 17% • Effective income tax rate of 16.9% • Average loans of $955.8 billion, up 5% • Average deposits of $1.4 trillion, up 2% Comparisons in the bullet points are for 4Q25 versus 4Q24, unless otherwise noted. Endnotes are presented starting on page 20.

------

![](ex993-wellsfargo4q25pres003.jpg)

34Q25 Financial Results 4Q25 earnings Quarter ended $ Change from Year ended $ Change from $ in millions, except per share data 4Q25 3Q25 4Q24 3Q25 4Q24 2025 2024 2024 Net interest income $12,331 11,950 11,836 $381 495 $47,484 47,676 ($192) Noninterest income 8,961 9,486 8,542 (525) 419 36,215 34,620 1,595 Total revenue 21,292 21,436 20,378 (144) 914 83,699 82,296 1,403 Net charge-offs 1,030 954 1,188 76 (158) 3,990 4,759 (769) Change in the allowance for credit losses 10 (273) (93) 283 103 (332) (425) 93 Provision for credit losses1 1,040 681 1,095 359 (55) 3,658 4,334 (676) Noninterest expense 13,726 13,846 13,900 (120) (174) 54,842 54,598 244 Pre-tax income 6,526 6,909 5,383 (383) 1,143 25,199 23,364 1,835 Income tax expense 1,103 1,300 120 (197) 983 3,841 3,399 442 Effective income tax rate (%) 16.9 % 18.9 2.3 (197) bps 1,459 15.2 % 14.7 50 bps Net income $5,361 5,589 5,079 ($228) 282 $21,338 19,722 $1,616 Diluted earnings per common share $1.62 1.66 1.43 ($0.04) 0.19 $6.26 5.37 $0.89 Diluted average common shares (# mm) 3,159.0 3,223.5 3,360.7 (65) (202) 3,242.3 3,467.6 (225) Return on equity (ROE) 12.3 % 12.8 11.7 (58) bps 52 12.4 % 11.4 99 bps Return on average tangible common equity (ROTCE)2 14.5 15.2 13.9 (69) 62 14.6 13.4 114 Efficiency ratio 64 65 68 (12) (374) 66 66 (82) Endnotes are presented starting on page 20.

------

![](ex993-wellsfargo4q25pres004.jpg)

44Q25 Financial Results Net Interest Income ($ in millions) 11,836 11,495 11,708 11,950 12,331 Net Interest Margin (NIM) on a taxable-equivalent basis 4Q24 1Q25 2Q25 3Q25 4Q25 2.60% Net interest income • Net interest income (NII) of $12.3 billion, up $495 million, or 4%, from 4Q24 – NII excluding Markets2 of $12.0 billion, up $317 million, or 3%, from 4Q24 on higher loan and investment securities balances, and fixed rate asset repricing, partially offset by deposit mix changes – Markets NII of $358 million, up $178 million • NII up $381 million, or 3%, from 3Q25 – NII excluding Markets2 up $167 million, or 1%, on higher loan and deposit balances, and fixed asset repricing, partially offset by deposit mix changes – Markets NII up $214 million 2.70% 2.67% 2.68% 2.61% 1 Endnotes are presented starting on page 20.

------

![](ex993-wellsfargo4q25pres005.jpg)

54Q25 Financial Results • Period-end loans up $73.5 billion YoY and up $43.1 billion from 3Q25 driven by growth in commercial and industrial loans, auto loans, securities-based loans in WIM, and credit card loans – Commercial and industrial loans up $70.9 billion, or 19%, YoY and up $34.2 billion, or 8%, from 3Q25 primarily driven by growth in financials except banks loans Loans • Average loans up $49.4 billion, or 5%, year-over-year (YoY) as higher commercial and industrial loans, auto loans, securities-based loans in Wealth and Investment Management (WIM), and credit card loans were partially offset by declines in commercial real estate and residential mortgage loans; up $27.1 billion, or 3%, from 3Q25 driven by higher commercial and industrial, auto, and credit card loans • Total average loan yield of 5.78%, down 38 bps YoY and 19 bps from 3Q25 reflecting the impact of lower interest rates Average Loans Outstanding ($ in billions) 906.4 908.2 916.7 928.7 955.8 528.3 533.2 543.3 552.4 573.3 378.1 375.0 373.4 376.3 382.5 Total Average Loan Yield Consumer Loans Commercial Loans 4Q24 1Q25 2Q25 3Q25 4Q25 6.16% 5.96% 5.95% 5.97% 5.78% Period-End Loans Outstanding ($ in billions) 4Q25 vs 3Q25 vs 4Q24 Commercial $599.9 6 % 12 % Consumer 386.3 2 2 Total loans $986.2 5 % 8 % 156.8 162.5 170.0 183.6 208.1 59.8 65.4 66.8 71.9 84.9 51.8 52.0 53.6 56.3 60.920.8 20.2 22.6 24.3 27.8 24.4 24.9 27.0 31.1 34.5 Real estate finance Consumer finance Commercial finance Asset managers and funds 4Q24 1Q25 2Q25 3Q25 4Q25 Period-End Loans Outstanding 3 1 2 4 Period-End Financials Except Banks Loans Outstanding ($ in billions) Endnotes are presented starting on page 20.

------

![](ex993-wellsfargo4q25pres006.jpg)

64Q25 Financial Results Deposits 1,353.8 1,339.3 1,331.7 1,339.9 1,377.7 773.6 778.6 781.4 781.3 778.6 184.3 182.9 178.0 172.0 181.0 205.1 203.9 202.4 204.1 214.5 118.3 123.4 123.6 127.4 134.5 Corporate Wealth and Investment Management (WIM) Corporate and Investment Banking (CIB) Commercial Banking Consumer Banking and Lending (CBL) 4Q24 1Q25 2Q25 3Q25 4Q25 Average Deposits ($ in billions) 69.155.146.350.5 • Average deposits up $23.9 billion, or 2%, YoY on growth in WIM, CIB and CBL deposit balances; up $37.8 billion, or 3%, from 3Q25 • Average deposit cost of 1.44%, down 29 bps YoY; down 10 bps from 3Q25 • Period-end deposits up $54.4 billion, or 4%, YoY driven by growth in customer deposits across all of the operating segments; up $58.8 billion, or 4%, from 3Q25 driven by growth in customer deposits reflecting both organic growth and seasonality in certain wholesale businesses 1,371.8 1,361.7 1,340.7 1,367.4 1,426.2 783.5 798.8 781.0 782.3 791.0 188.7 181.5 179.9 176.9 190.0 212.9 209.2 208.0 211.1 224.1 127.0 124.6 122.9 132.7 147.6 Corporate Wealth and Investment Management (WIM) Corporate and Investment Banking (CIB) Commercial Banking (CB) Consumer Banking and Lending (CBL) 4Q24 1Q25 2Q25 3Q25 4Q25 Period-End Deposits ($ in billions) 73.564.448.947.659.772.5

------

![](ex993-wellsfargo4q25pres007.jpg)

74Q25 Financial Results 8,542 8,654 9,114 9,486 8,961 904 644 1,138 1,030 973 1,084 1,044 1,173 1,223 1,149 725 775 696 840 716 1,003 1,384 1,376 1,408 979 1,625 1,633 1,622 1,674 1,684 3,201 3,174 3,109 3,311 3,460 Investment advisory fees and brokerage commissions Deposit and lending-related fees Net gains from trading activities Investment banking fees Card fees All other 4Q24 1Q25 2Q25 3Q25 4Q25 Noninterest Income ($ in millions) • Noninterest income up $419 million, or 5%, from 4Q24 – Investment advisory fees and brokerage commissions1 up $259 million, or 8%, driven by higher asset-based fees reflecting higher market valuations, as well as higher retail brokerage commissions on higher transactional activity – Card fees2 up $65 million, or 6%, on higher merchant processing card fees, as well as increased consumer credit card activity and higher debit card interchange income – All other3 up $69 million as 4Q24 included $448 million of net losses due to a repositioning of the investment securities portfolio and 4Q25 included lower results from our venture capital investments • Noninterest income down $525 million, or 6%, from 3Q25 – Investment advisory fees and brokerage commissions1 up $149 million, or 5%, driven by higher asset-based fees reflecting higher market valuations – Net gains from trading activities down $429 million, or 30%, reflecting lower customer activity on lower market volatility and seasonality – Investment banking fees down $124 million, or 15%, largely driven by lower debt capital markets underwriting fees Noninterest income 3 1 Endnotes are presented starting on page 20. 2

------

![](ex993-wellsfargo4q25pres008.jpg)

84Q25 Financial Results 13,900 13,891 13,379 13,846 13,726 4,829 4,417 4,670 4,825 4,649 8,424 9,474 8,709 8,725 8,465 Personnel Expense Non-personnel Expense 4Q24 1Q25 2Q25 3Q25 4Q25 Noninterest expense • Noninterest expense down $174 million, or 1%, from 4Q24 – Personnel expense up $6 million as higher revenue-related compensation expense primarily in WIM was largely offset by the impact of efficiency initiatives and lower severance expense – Non-personnel expense down $180 million, or 4%, as lower FDIC assessment expense, lower operating losses, as well as the impact of efficiency initiatives, were partially offset by higher advertising and promotion, and technology and equipment expense • Noninterest expense down $120 million, or 1%, from 3Q25 – Personnel expense up $56 million on higher severance expense and higher revenue-related compensation expense primarily in WIM – Non-personnel expense down $176 million, or 4%, driven by lower FDIC assessment expense and lower operating losses, partially offset by higher professional and outside services, advertising and promotion, and technology and equipment expense Noninterest Expense ($ in millions) Headcount (Period-end, '000s) 4Q24 1Q25 2Q25 3Q25 4Q25 218 215 213 211 205 Endnotes are presented starting on page 20. 6471 1 2961 11 6121

------

![](ex993-wellsfargo4q25pres009.jpg)

94Q25 Financial Results 1,095 932 1,005 681 1,040 1,211 1,009 997 942 1,046 Provision for Credit Losses Net Loan Charge-offs Net Loan Charge-off Ratio 4Q24 1Q25 2Q25 3Q25 4Q25 Credit quality: net loan charge-offs • Commercial net loan charge-offs up $75 million to 22 bps of average loans (annualized) on higher commercial real estate (CRE) and commercial and industrial net loan charge-offs – CRE net loan charge-offs of $158 million, or 48 bps of average loans (annualized), up $51 million predominantly driven by CRE office net loan charge-offs • Consumer net loan charge-offs up $29 million to 75 bps of average loans (annualized) on higher credit card and auto net loan charge-offs, as well as lower residential mortgage recoveries • Nonperforming assets of $8.5 billion, or 0.86% of total loans, up $671 million, or 3 bps, driven by an increase in CRE and commercial and industrial nonaccrual loans, partially offset by lower residential mortgage nonaccrual loans Provision for Credit Losses1 and Net Loan Charge-offs ($ in millions) Comparisons in the bullet points are for 4Q25 versus 3Q25. Endnotes are presented starting on page 20. 0.53% 0.45% 0.40%0.44% 1 0.43%

------

![](ex993-wellsfargo4q25pres010.jpg)

104Q25 Financial Results Credit quality: allowance for credit losses for loans Allowance for Credit Losses for Loans ($ in millions) • Allowance for credit losses (ACL) for loans up $26 million on higher commercial and industrial, auto, and credit card loan balances, largely offset by a lower ACL for CRE loans – Allowance coverage for total loans down 15 bps from 4Q24 and down 7 bps from 3Q25 largely reflecting CRE office net loan charge-offs and growth in commercial and industrial loans • CRE office ACL of $1.5 billion, down $279 million – CRE office ACL as a % of loans of 6.8%, down from 7.5% ◦ Corporate and Investment Banking (CIB) CRE office ACL as a % of loans of 10.1% 14,636 14,552 14,568 14,311 14,337 7,946 7,930 7,835 7,552 7,457 6,690 6,622 6,733 6,759 6,880 Commercial Consumer Allowance coverage for total loans 4Q24 1Q25 2Q25 3Q25 4Q25 1.59%1.60% 1.58% 1.52% 1.45% 1 CRE Allowance for Credit Losses (ACL) and Nonaccrual Loans, as of 12/31/25 ($ in millions) Allowance for Credit Losses Loans Outstanding ACL as a % of Loans Nonaccrual Loans CIB CRE Office $1,316 13,080 10.1% $2,337 All other CRE Office 185 8,878 2.1 124 Total CRE Office 1,501 21,958 6.8 2,461 All other CRE 1,236 110,326 1.1 1,418 Total CRE $2,737 132,284 2.1% $3,879 Comparisons in the bullet points are for 4Q25 versus 3Q25, unless otherwise noted.

------

![](ex993-wellsfargo4q25pres011.jpg)

114Q25 Financial Results Capital and liquidity Capital Position • Common Equity Tier 1 (CET1) ratio1 of 10.6% at December 31, 2025 • CET1 ratio down 45 bps from 4Q24 and down 37 bps from 3Q25 Capital Return • $5.0 billion in gross common stock repurchases, or 58.2 million shares, in 4Q25; period-end common shares outstanding down 196.3 million, or 6%, from 4Q24 • 4Q25 common stock dividend of $0.45 per share with $1.4 billion in common stock dividends paid Total Loss Absorbing Capacity (TLAC) • As of December 31, 2025, our TLAC as a percentage of total risk-weighted assets3 was 23.2% compared with the required minimum of 21.5% Liquidity Position • Strong liquidity position with a 4Q25 LCR4 of 119% which remained above the regulatory minimum of 100% 11.1% 11.1% 11.1% 11.0% 10.6% 4Q24 1Q25 2Q25 3Q25 4Q25 Estimated 8.5% Regulatory Minimum and Buffers2 Common Equity Tier 1 Ratio under the Standardized Approach1 Endnotes are presented starting on page 20.

------

![](ex993-wellsfargo4q25pres012.jpg)

124Q25 Financial Results • Total revenue up 7% YoY and down 1% from 3Q25 – CSBB up 9% YoY driven by lower deposit pricing and higher deposit and loan balances, including the impact of the transfer of certain business customers3 – Home Lending down 6% YoY on lower NII on lower loan balances; down 7% from 3Q25 on lower NII and lower mortgage banking fees – Credit Card up 7% YoY and included higher loan balances and higher card fees – Auto up 7% YoY and 10% from 3Q25 on higher loan balances – Personal Lending down 5% YoY driven by lower loan balances and loan spread compression • Noninterest expense down 2% YoY reflecting lower operating losses and the impact of efficiency initiatives, partially offset by higher advertising expense, as well as the impact of the transfer of certain business customers3 Consumer Banking and Lending (CBL) Summary Financials $ in millions 4Q25 vs. 3Q25 vs. 4Q24 Revenue by line of business: Consumer, Small and Business Banking (CSBB) $6,591 $24 524 Consumer Lending: Home Lending 807 (63) (47) Credit Card 1,600 (63) 111 Auto 282 26 19 Personal Lending 291 (3) (16) Total revenue 9,571 (79) 591 Provision for credit losses 911 144 — Noninterest expense 5,820 (148) (105) Pre-tax income 2,840 (75) 696 Net income $2,128 ($57) 526 Selected Metrics and Average Balances $ in billions 4Q25 3Q25 4Q24 Return on allocated capital1 18.0 % 18.5 13.4 Efficiency ratio2 61 62 66 Average loans3 $329.3 325.3 321.4 Average deposits3 778.6 781.3 773.6 Retail bank branches (#, period-end) 4,090 4,108 4,177 Mobile active customers4 (# in mm, period-end) 32.8 32.5 31.4 Other Selected Metrics $ in billions 4Q25 3Q25 4Q24 Debit card purchase volume5 $137.3 133.6 131.0 Average Home Lending loans 200.2 201.8 207.8 Mortgage loan originations 7.5 7.0 5.9 Average Credit Card loans 52.9 51.1 50.2 Credit Card purchase volume5 49.7 47.4 45.1 Credit Card new accounts (# in thousands) 819 914 486 Average Auto loans $48.7 44.8 43.0 Auto loan originations 10.2 8.8 5.0 Endnotes are presented starting on page 20.

------

![](ex993-wellsfargo4q25pres013.jpg)

134Q25 Financial Results Commercial Banking (CB) • Total revenue down 3% YoY and up 1% from 3Q25 – Net interest income down 11% YoY driven by the impact of lower interest rates and the impact of the transfer of certain business customers1, partially offset by lower deposit pricing and higher loan balances – Noninterest income up 18% YoY on higher revenue from tax credit investments and equity investments, partially offset by the impact of the transfer of certain business customers1 • Noninterest expense down 5% YoY due to the impact of the transfer of certain business customers1, as well as the impact of efficiency initiatives Summary Financials $ in millions 4Q25 vs. 3Q25 vs. 4Q24 Net interest income $1,993 $44 (255) Noninterest income 1,086 (6) 163 Total revenue 3,079 38 (92) Provision for credit losses 105 66 72 Noninterest expense 1,443 (2) (82) Pre-tax income 1,531 (26) (82) Net income $1,142 ($20) (61) Selected Metrics 4Q25 3Q25 4Q24 Return on allocated capital 16.5 % 16.8 17.4 Efficiency ratio 47 48 48 Average balances ($ in billions) Loans1 $224.0 219.4 221.8 Deposits1 181.0 172.0 184.3 Endnotes are presented starting on page 20.

------

![](ex993-wellsfargo4q25pres014.jpg)

144Q25 Financial Results Corporate and Investment Banking (CIB) • Total revenue relatively flat YoY and down 5% from 3Q25 – Banking revenue down 4% YoY on lower investment banking revenue and the impact of lower interest rates, partially offset by higher loan balances; down 4% from 3Q25 on lower investment banking revenue, partially offset by higher deposit and loan balances – Commercial Real Estate revenue down 3% YoY on the impact of lower interest rates, lower revenue resulting from the sale of our non-agency third party servicing business in 1Q25, as well as lower loan balances, partially offset by higher capital markets fees; up 4% from 3Q25 on higher capital markets fees – Markets revenue up 7% YoY driven by higher revenue in equities, commodities, and structured products, partially offset by lower revenue in credit, rates and foreign exchange products; down 14% from 3Q25 driven by seasonally lower customer activity and lower market volatility • Noninterest expense up 2% YoY driven by higher operating costs and professional services expense, partially offset by the impact of efficiency initiatives Summary Financials $ in millions 4Q25 vs. 3Q25 vs. 4Q24 Revenue by line of business: Banking: Lending $656 $9 (35) Treasury Management and Payments 648 18 4 Investment Banking 457 (97) (34) Total Banking 1,761 (70) (65) Commercial Real Estate 1,236 50 (38) Markets: Fixed Income, Currencies and Commodities (FICC) 1,164 (191) (15) Equities 453 3 68 Credit Adjustment (CVA/DVA/FVA) and Other (15) (63) 56 Total Markets 1,602 (251) 109 Other 17 8 (3) Total revenue 4,616 (263) 3 Provision for credit losses 78 185 (127) Noninterest expense 2,347 (15) 47 Pre-tax income 2,191 (433) 83 Net income $1,639 ($327) 59 Selected Metrics 4Q25 3Q25 4Q24 Return on allocated capital 13.8 % 16.8 13.4 Efficiency ratio 51 48 50 Average Balances ($ in billions) Loans by line of business 4Q25 3Q25 4Q24 Banking $101.0 92.8 85.7 Commercial Real Estate 116.6 117.1 119.5 Markets 95.3 86.0 68.8 Total loans $312.9 295.9 274.0 Deposits 214.5 204.1 205.1 Trading-related assets 364.4 315.6 256.9

------

![](ex993-wellsfargo4q25pres015.jpg)

154Q25 Financial Results Wealth and Investment Management (WIM) Summary Financials $ in millions 4Q25 vs. 3Q25 vs. 4Q24 Net interest income $993 $19 137 Noninterest income 3,367 145 265 Total revenue 4,360 164 402 Provision for credit losses (9) 5 18 Noninterest expense 3,492 71 185 Pre-tax income 877 88 199 Net income $656 $65 148 Selected Metrics $ in billions 4Q25 3Q25 4Q24 Return on allocated capital 39.1 % 35.1 30.2 Efficiency ratio 80 82 84 Average loans $88.7 86.2 83.6 Average deposits 134.5 127.4 118.3 Client assets Advisory assets 1,127 1,104 998 Other brokerage assets and deposits 1,382 1,369 1,295 Total client assets $2,509 2,473 2,293 • Total revenue up 10% YoY and up 4% from 3Q25 – Net interest income up 16% YoY driven by lower deposit pricing and higher deposit and loan balances – Noninterest income up 9% YoY and 5% from 3Q25 on higher asset-based fees driven by an increase in market valuations • Noninterest expense up 6% YoY and 2% from 3Q25 on higher revenue- related compensation expense, partially offset by the impact of efficiency initiatives

------

![](ex993-wellsfargo4q25pres016.jpg)

164Q25 Financial Results Corporate • Revenue increased YoY from a 4Q24 that included $448 million of net losses due to a repositioning of the investment securities portfolio, and 4Q25 included lower results from our venture capital investments • Noninterest expense down YoY and included lower FDIC assessment expense Summary Financials $ in millions 4Q25 vs. 3Q25 vs. 4Q24 Net interest income ($199) $74 65 Noninterest income 388 (61) 20 Total revenue 189 13 85 Provision for credit losses (45) (41) (18) Noninterest expense 624 (26) (219) Pre-tax loss (390) 80 322 Income tax benefit (246) (73) 834 Less: Net income from noncontrolling interests 60 42 (122) Net loss ($204) $111 (390)

------

![](ex993-wellsfargo4q25pres017.jpg)

174Q25 Financial Results $47.5 2025 NII Rates/Repricing Balance Sheet/Mix Markets NII 2026 NII Outlook 2026 net interest income expectation 2026 Net Interest Income (NII) Expectation • 2026 NII excluding Markets1 is expected to increase from 2025 driven by growth in the balance sheet and changes in loan and deposit mix, as well as continued fixed asset repricing – Key assumptions include: ◦ Two to three fed funds rate cuts in 2026 with the 10-year UST expected to remain relatively stable throughout 2026 ◦ Average loans (4Q26 vs. 4Q25) expected to increase mid-single digits primarily driven by growth in commercial, auto and credit card loans ◦ Average deposits (4Q26 vs. 4Q25) expected to increase mid-single digits with growth in all operating segments (CBL, CB, CIB and WIM) • 2026 Markets NII is expected to increase on lower short-term funding costs and growth in the balance sheet driven by client financings, which are lower risk assets and lower margin, but NII accretive • Net interest income performance will ultimately be determined by a variety of factors, many of which are uncertain, including the absolute level of rates and the shape of the yield curve; deposit balances, mix and pricing; loan demand; and the ultimate mix of activity and volatility in Markets ($ in billions) +/- $50 Markets NII of $0.7B NII ex. Markets1 of $46.7B Markets NII Outlook of +/- $2B NII ex. Markets1 Outlook of +/- $48B Endnotes are presented starting on page 20.

------

![](ex993-wellsfargo4q25pres018.jpg)

184Q25 Financial Results $54.8 (0.7) 0.8 0.4 0.3 $55.7 2025 Expense 2026 Outlook 1.1 0.8 0.8 Efficiency initiatives Incremental technology expense Incremental other investments Other including expected merit increases 2026 Expense Expectation ($ in billions) Expected net other expense change details Higher revenue- related expense Lower severance expense Higher FDIC assessment expense Net other expense change $(2.4) 2026 expense expectation • 2026 expense expectations – Lower severance expense – Higher revenue-related expense in Wealth and Investment Management (assumes modestly higher equity markets) – Higher FDIC assessment expense driven by assumed balance sheet growth and a special assessment credit in 4Q25 • Efficiency initiatives include: – Operational efficiencies from continued business optimization and process rationalization – Technology driven efficiencies, including increased automation through more modern data platforms and tools – Continued enhancements to our digital infrastructure to further improve service delivery – Continue to see more opportunities past 2026, including acceleration of artificial intelligence (AI) capabilities focused on improved productivity • Incremental technology expense includes investments in infrastructure and business capabilities • Incremental other investments - see page 19 for additional detail • Other includes: – Expected merit and benefit increases as well as performance-based discretionary compensation – Lower expense due to the sale of our rail car leasing business in 1Q26 (offset by a reduction in noninterest income) ~

------

![](ex993-wellsfargo4q25pres019.jpg)

194Q25 Financial Results Areas of focus for 2026 investments Firmwide • Continue to enhance risk and control infrastructure • Enhance cybersecurity monitoring and tools, including access management, incident response and threat detection capabilities • Continue migration into new data centers and transition of applications to public/private cloud • Scale investment in generative artificial intelligence (AI) to drive more automation and improvement in client service • Continue to invest in data platforms to better leverage AI and drive more insights • Continue modernization and consolidation of office real estate Consumer, Small and Business Banking Consumer Lending • Continue to modernize core banking and call center platforms; use AI to accelerate efforts • Invest in digital offerings, including Wells Fargo mobile® app, FargoTM, Zelle® (including stablecoin offering) and PazeSM • Enhance Wells Fargo Premier® and Business Banking product offerings and service experience • Expand marketing efforts to accelerate customer acquisition and organic growth • Grow Wells Fargo Premier® by recruiting and improving productivity of branch-based bankers and financial advisors • Continue to refurbish and strategically position physical branch network • Continue to improve and accelerate rollout of core credit card capabilities including offers/marketing, underwriting, servicing and rewards • Expand credit card product offerings focused on Wells Fargo Premier® clients • Continue to improve the profitability and returns of Home Lending • Grow auto loan originations and returns by enhancing pricing and decisioning capabilities • Continue modernization of auto loan servicing systems Commercial Banking • Continue lending platform modernization to improve efficiency and automation • Continue investment to build out coverage in underpenetrated and high growth markets and improve overall banker productivity • Continue to enhance digital tools through our Vantage™ platform across banking, lending and foreign exchange • Continue to modernize and improve core payment platforms to meet clients' expanding needs • Launch a pilot using tokenized deposits to enhance cross- border payment experience Corporate and Investment Banking Wealth and Investment Management • Continue hiring in priority sectors and products within investment banking and capital markets to support growth initiatives • Grow and expand financing capabilities, expand electronic trading and launch new products • Continue investment to enhance market/counterparty risk management capabilities in line with expected growth in the business • Enhance liquidity and payments products, including cross-border payments, automated foreign exchange and instant payments • Improve advisor productivity with investment in new proposal generation and risk analytics to drive net asset flows • Increase penetration of banking and lending products • Enhance independent channel offering and build out of Registered Investment Advisor (RIA) solutions • Expand our discretionary Unified Managed Account (UMA) platform that allows advisors to seamlessly manage assets across all investment strategies

------

![](ex993-wellsfargo4q25pres020.jpg)

204Q25 Financial Results Endnotes Page 2 – 4Q25 results 1. Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the "Tangible Common Equity" table on page 23. 2. The efficiency ratio is noninterest expense divided by total revenue (net interest income and noninterest income). 3. Net income and diluted earnings per common share (EPS) excluding severance expense are non-GAAP financial measures. Excluding $612 million (pre-tax) of severance expense in fourth quarter 2025 resulted in an increase of $461 million (after-tax) to reported net income from $5.4 billion to $5.8 billion and an increase of $0.14 per diluted share to reported EPS from $1.62 to $1.76. Management believes these non-GAAP financial measures provide useful information to management, investors, and others in assessing the Company's financial results. 4. Pre-tax pre-provision profit (PTPP) is total revenue less noninterest expense. Management believes that PTPP is a useful financial measure because it enables investors and others to assess the Company's ability to generate capital to cover credit losses through a credit cycle. 5. Includes provision for credit losses for loans, debt securities, and other financial assets. 6. The Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach is our binding CET1 framework. See page 24 for additional information regarding CET1 capital and ratios. CET1 for December 31, 2025, is a preliminary estimate. 7. Liquidity coverage ratio (LCR) represents average high-quality liquid assets divided by average projected net cash outflows, as each is defined under the LCR rule. LCR for December 31, 2025, is a preliminary estimate. 8. Represents total loss absorbing capacity (TLAC) divided by risk-weighted assets (RWAs), which is our binding TLAC ratio, determined by using the greater of RWAs under the Standardized and Advanced Approaches. TLAC for December 31, 2025, is a preliminary estimate. Page 3 – 4Q25 earnings 1. Includes provision for credit losses for loans, debt securities, and other financial assets. 2. Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the "Tangible Common Equity" table on page 23. Page 4 – Net interest income 1. Includes taxable-equivalent adjustments predominantly related to tax-exempt income on certain loans and securities. 2. Net interest income excluding Markets is a non-GAAP financial measure. For additional information, including a corresponding reconciliation to a GAAP financial measure, see the "Net Interest Income Excluding Markets" table on page 22. Page 5 – Loans 1. Includes originators or servicers of financial assets collateralized by commercial or residential real estate loans. 2. Includes originators or servicers of financial assets collateralized by consumer loans such as auto loans and leases, and credit cards. 3. Includes asset-based lending and leasing, including loans to special purpose entities, loans to commercial leasing entities, and structured lending facilities to commercial loan managers. 4. Includes loans for subscription or capital calls and loans to prime brokerage customers and securities firms. Page 7 – Noninterest income 1. Investment advisory fees and brokerage commissions includes investment advisory and other asset-based fees and commissions and brokerage services fees. 2. In April 2025, we completed our acquisition of the remaining interest in our merchant services joint venture. Following the acquisition, the revenue from this business has been included in card fees. Prior to the acquisition, our share of the net earnings of the joint venture was included in other noninterest income. 3. All other includes mortgage banking, net gains (losses) from debt securities, net gains (losses) from equity investments, and other.

------

![](ex993-wellsfargo4q25pres021.jpg)

214Q25 Financial Results Page 8 – Noninterest expense 1. 4Q25, 3Q25, and 4Q24 total personnel expense of $9.1 billion, $9.0 billion, and $9.1 billion, respectively, included severance expense of $612 million, $296 million, and $647 million, respectively. Page 9 – Credit quality: net loan charge-offs 1. Includes provision for credit losses for loans, debt securities, and other financial assets. Page 11 – Capital and liquidity 1. The Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach is our binding CET1 framework. See page 24 for additional information regarding CET1 capital and ratios. 4Q25 CET1 is a preliminary estimate. 2. Includes a 4.50% minimum requirement, a stress capital buffer (SCB) of 2.50%, and a G-SIB capital surcharge of 1.50%. 3. Represents total loss absorbing capacity (TLAC) divided by risk-weighted assets (RWAs), which is our binding TLAC ratio, determined by using the greater of RWAs under the Standardized and Advanced Approaches. TLAC is a preliminary estimate. 4. Liquidity coverage ratio (LCR) represents average high-quality liquid assets divided by average projected net cash outflows, as each is defined under the LCR rule. 4Q25 LCR is a preliminary estimate. Page 12 – Consumer Banking and Lending 1. Return on allocated capital is segment net income (loss) applicable to common stock divided by segment average allocated capital. Segment net income (loss) applicable to common stock is segment net income (loss) less allocated preferred stock dividends. 2. Efficiency ratio is segment noninterest expense divided by segment total revenue. 3. In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. 4. Mobile active customers is the number of consumer and small business customers who have logged on via a mobile device in the prior 90 days. 5. Reflects combined activity for consumer and small business customers. Page 13 – Commercial Banking 1. In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. Page 17 – 2026 net interest interest income expectation 1. Net interest income excluding Markets is a non-GAAP financial measure. For additional information, including a corresponding reconciliation to a GAAP financial measure, see the "Net Interest Income Excluding Markets" table on page 22. Endnotes (continued)

------

![](ex993-wellsfargo4q25pres022.jpg)

224Q25 Financial Results Net Interest Income Excluding Markets Quarter ended Dec 31, 2025 % Change from Year ended ($ in millions) Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2025 Dec 31, 2024 Dec 31, 2025 Dec 31, 2024 % Change Net interest income $12,331 11,950 11,708 11,495 11,836 3 % 4 $47,484 47,676 — % Markets net interest income 358 144 104 131 180 149 99 737 396 86 Net interest income excluding Markets $11,973 11,806 11,604 11,364 11,656 1 3 $46,747 47,280 (1) Wells Fargo & Company and Subsidiaries NET INTEREST INCOME EXCLUDING MARKETS We also evaluate the Company's net interest income excluding the net interest income of the Corporate and Investment Banking Markets (Markets) line of business. Net interest income excluding Markets is a non-GAAP financial measure that management believes is useful because it enables management, investors, and others to assess the net interest income from the Company's lending, investing, and deposit-raising activities without the volatility that may be associated with Markets activities. The table below provides a reconciliation of this non-GAAP financial measure to a GAAP financial measure.

------

![](ex993-wellsfargo4q25pres023.jpg)

234Q25 Financial Results Tangible Common Equity Wells Fargo & Company and Subsidiaries TANGIBLE COMMON EQUITY We also evaluate our business based on certain ratios that utilize tangible common equity. Tangible common equity is a non-GAAP financial measure and represents total equity less preferred equity, noncontrolling interests, goodwill, certain identifiable intangible assets (other than MSRs) and goodwill and other intangibles on venture capital investments in consolidated portfolio companies, net of applicable deferred taxes. One of these ratios is return on average tangible common equity (ROTCE), which represents our annualized earnings as a percentage of tangible common equity. The methodology of determining tangible common equity may differ among companies. Management believes that return on average tangible common equity, which utilizes tangible common equity, is a useful financial measure because it enables management, investors, and others to assess the Company's use of equity. The table below provides a reconciliation of this non-GAAP financial measure to GAAP financial measures. Quarter ended Year ended ($ in millions) Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Dec 31, 2025 Dec 31, 2024 Return on average tangible common equity: Net income applicable to common stock (A) $5,114 5,341 5,214 4,616 4,801 $20,285 18,606 Average total equity 183,844 183,428 183,268 183,358 182,933 183,476 183,879 Adjustments: Preferred stock (16,608) (16,608) (18,278) (18,608) (18,608) (17,517) (18,581) Additional paid-in capital on preferred stock 141 141 143 145 144 142 147 Noncontrolling interests (1,879) (1,850) (1,818) (1,894) (1,803) (1,860) (1,751) Average common stockholders' equity (B) 165,498 165,111 163,315 163,001 162,666 164,241 163,694 Adjustments: Goodwill (25,055) (25,070) (25,070) (25,135) (25,170) (25,082) (25,172) Certain identifiable intangible assets (other than MSRs) (847) (889) (863) (69) (78) (670) (95) Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) (698) (674) (674) (734) (772) (695) (895) Applicable deferred taxes related to goodwill and other intangible assets1 1,063 1,061 989 952 945 1,355 935 Average tangible common equity (C) $139,961 139,539 137,697 138,015 137,591 $139,149 138,467 Return on average common stockholders' equity (ROE) (annualized) (A)/(B) 12.3 % 12.8 12.8 11.5 11.7 12.4 % 11.4 Return on average tangible common equity (ROTCE) (annualized) (A)/(C) 14.5 15.2 15.2 13.6 13.9 14.6 13.4 1. Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period-end.

------

![](ex993-wellsfargo4q25pres024.jpg)

244Q25 Financial Results 1. The Basel III capital rules provide for two capital frameworks (the Standardized Approach and the Advanced Approach applicable to certain institutions), and we must calculate our CET1, Tier 1 and total capital ratios under both approaches. 2. Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period-end. Common Equity Tier 1 under Basel III Wells Fargo & Company and Subsidiaries RISK-BASED CAPITAL RATIOS UNDER BASEL III1 Estimated ($ in billions) Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Total equity $183.0 183.0 183.0 182.9 181.1 Adjustments: Preferred stock (16.6) (16.6) (16.6) (18.6) (18.6) Additional paid-in capital on preferred stock 0.1 0.2 0.1 0.1 0.1 Noncontrolling interests (1.8) (1.9) (1.9) (1.8) (1.9) Total common stockholders' equity 164.7 164.7 164.6 162.6 160.7 Adjustments: Goodwill (25.0) (25.1) (25.1) (25.1) (25.2) Certain identifiable intangible assets (other than MSRs) (0.8) (0.9) (0.9) (0.1) (0.1) Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) (0.7) (0.7) (0.7) (0.7) (0.7) Applicable deferred taxes related to goodwill and other intangible assets2 1.1 1.1 1.1 1.0 0.9 Other (2.0) (2.5) (2.6) (2.1) (1.0) Common Equity Tier 1 (A) $137.3 136.6 136.4 135.6 134.6 Total risk-weighted assets (RWAs) under the Standardized Approach (B) 1,293.4 1,242.4 1,225.9 1,222.0 1,216.1 Total RWAs under the Advanced Approach (C) 1,113.2 1,072.2 1,070.4 1,063.6 1,085.0 Common Equity Tier 1 to total RWAs under the Standardized Approach (A)/(B) 10.6 % 11.0 11.1 11.1 11.1 Common Equity Tier 1 to total RWAs under the Advanced Approach (A)/(C) 12.3 12.7 12.7 12.7 12.4

------

![](ex993-wellsfargo4q25pres025.jpg)

254Q25 Financial Results Disclaimer and forward-looking statements Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Annual Report on Form 10-K for the year ended December 31, 2025, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information. This document contains forward-looking statements. In addition, we may make forward-looking statements in our other documents filed or furnished with the Securities and Exchange Commission, and our management may make forward-looking statements orally to analysts, investors, representatives of the media and others. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "target," "projects," "outlook," "forecast," "will," "may," "could," "should," "can" and similar references to future periods. In particular, forward-looking statements include, but are not limited to, statements we make about: (i) the future operating or financial performance of the Company or any of its businesses, including our outlook for future growth; (ii) our expectations regarding noninterest expense and our efficiency ratio; (iii) future credit quality and performance, including our expectations regarding future loan losses, our allowance for credit losses, and the economic scenarios considered to develop the allowance; (iv) our expectations regarding net interest income and net interest margin; (v) loan growth or the reduction or mitigation of risk in our loan portfolios; (vi) future capital or liquidity levels, ratios or targets; (vii) the expected outcome and impact of legal, regulatory and legislative developments, as well as our expectations regarding compliance therewith; (viii) future common stock dividends, common share repurchases and other uses of capital; (ix) our targeted range for return on assets, return on equity, and return on tangible common equity; (x) expectations regarding our effective income tax rate; (xi) the outcome of contingencies, such as legal actions; (xii) sustainability and governance related goals or commitments; and (xiii) the Company's plans, objectives and strategies. Forward-looking statements are not based on historical facts but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions. Investors are urged to not unduly rely on forward-looking statements as actual results may differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For additional information about factors that could cause actual results to differ materially from our expectations, refer to the "Forward-Looking Statements" discussion in Wells Fargo's press release announcing our fourth quarter 2025 results and in our most recent Quarterly Report on Form 10-Q, as well as to Wells Fargo's other reports filed with the Securities and Exchange Commission, including the discussion under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024.

------