# EDGAR Filing Document

**Accession Number:** 0000072971
**File Stem:** 0000072971-25-000170
**Filing Date:** 2025-7
**Character Count:** 175654
**Document Hash:** f773269b56fab5c66d5971862ae02b41
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000072971-25-000170.hdr.sgml**: 20250715

**ACCESSION NUMBER**: 0000072971-25-000170

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 39

**CONFORMED PERIOD OF REPORT**: 20250715

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

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250715

**DATE AS OF CHANGE**: 20250715

**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:** 251123048

**BUSINESS ADDRESS:**
- **STREET 1:** 420 MONTGOMERY STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94104
- **BUSINESS PHONE:** 8008693557

**MAIL ADDRESS:**
- **STREET 1:** 420 MONTGOMERY STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94104

**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-20250715

**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): July 15, 2025

**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;

**420 Montgomery Street, San Francisco, California 94104** 

(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 July 15, 2025, Wells Fargo & Company (the "Company") issued a news release regarding its results of operations and financial condition for the quarter ended June 30, 2025, and posted on its website its 2Q25 Quarterly Supplement, which contains certain additional information about the Company's financial results for the quarter ended June 30, 2025. The news release is included as Exhibit 99.1 and the 2Q25 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 July 15, 2025, the Company intends to host a live conference call that will also be available by webcast to discuss the Company's second 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](wfc2qer07-15x25ex991xrelea.htm)</u> | <u>[News Release dated July 15, 2025](wfc2qer07-15x25ex991xrelea.htm)</u> | Filed herewith |
| <u>[99.2](wfc2qer07-15x25ex992xsuppl.htm)</u> | <u>[2Q25 Quarterly Supplement](wfc2qer07-15x25ex992xsuppl.htm)</u> | Filed herewith |
| <u>[99.3](ex993-wellsfargo2q25pres.htm)</u> | <u>[Presentation Materials – 2Q25 Financial Results](ex993-wellsfargo2q25pres.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: | July 15, 2025 | 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;

---

| | |
|:---|:---|
| ![erwellsfargoimagea06.jpg](erwellsfargoimagea06.jpg) | News Release \| July 15, 2025<br>**Wells Fargo Reports Second Quarter 2025 Net Income of $5.5 billion, or $1.60 per Diluted Share**  |

---

---

| | | |
|:---|:---|:---|
| **Company-wide Financial Summary** | **Company-wide Financial Summary** | **Company-wide Financial Summary** |
|  | Quarter ended | Quarter ended |
|  | **Jun 30,<br>2025** | Jun 30,<br>2024 |
| **Selected Income Statement Data**<br>($ in millions except per share amounts) |  |  |
| Total revenue | $**20822** | 20689 |
| Noninterest expense | **13379** | 13293 |
| Provision for credit losses<sup>1</sup> | **1005** | 1236 |
| Net income | **5494** | 4910 |
| Diluted earnings per common share | **1.60** | 1.33 |
| **Selected Balance Sheet Data**<br>($ in billions) |  |  |
| Average loans | $**916.7** | 917.0 |
| Average deposits | **1331.7** | 1346.5 |
| CET1<sup>2</sup> | **11.1%** | 11.0 |
| **Performance Metrics** | **Performance Metrics** |  |
| ROE<sup>3</sup> | **12.8%** | 11.5 |
| ROTCE<sup>4</sup> | **15.2** | 13.7 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Operating Segments and Other Highlights** | **Operating Segments and Other Highlights** | **Operating Segments and Other Highlights** | **Operating Segments and Other Highlights** |
|  | Quarter ended | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from |
| ($ in billions) | Jun 30,<br>2025 | Mar 31,<br>2025 | Jun 30,<br>2024 |
| **Average loans** |  |  |  |
| Consumer Banking and Lending | $315.4 | (1)% | (3) |
| Commercial Banking | 226.5 | 1 | 1 |
| Corporate and Investment Banking | 285.9 | 3 | 4 |
| Wealth and Investment Management | 84.9 | 1 | 2 |
| **Average deposits** |  |  |  |
| Consumer Banking and Lending | 781.4 |  |  |
| Commercial Banking | 178.0 | (3) | 7 |
| Corporate and Investment Banking | 202.4 | (1) | 8 |
| Wealth and Investment Management | 123.6 |  | 20 |

---

**Capital**

◦ Repurchased 43.9 million shares, or $3.0 billion, of common stock in second quarter 2025

**Second quarter 2025 results included:**<br>

◦ $253 million, or $0.06 per share, gain associated with our acquisition of the remaining interest in our merchant services joint venture

Chief Executive Officer Charlie Scharf commented, "Our second quarter results reflect the progress we are making to consistently produce stronger financial results with net income and diluted earnings per share up from both the first quarter and a year ago. Our efforts to increase fee-based income drove revenue growth and both net interest income and noninterest income grew from the first quarter. We are investing in our businesses but remain focused on expense management. While there continue to be risks as we look forward, activity levels have remained consistent and our strong credit performance continues to point to the strength of our commercial and consumer customers' financial position."<br>"The lifting of the asset cap in the second quarter marked a pivotal milestone in Wells Fargo's ongoing transformation, along with the termination of thirteen consent orders since 2019, including seven this year alone. We are a far stronger company today because of the work we've done. This is a huge accomplishment, and I appreciate the focus and dedication that was required of everyone at Wells Fargo. We now have the opportunity to grow in ways we could not while the asset cap was in place and are able to move forward more aggressively to serve consumers, businesses, and communities to support U.S. economic growth," Scharf added.<br>"As we have been investing to drive organic growth and improve the earnings capacity in each of our businesses, we have also been returning excess capital to shareholders. During the first half of this year, we repurchased over $6 billion of common stock and as previously announced, we expect to increase our third quarter common stock dividend by 12.5%, subject to approval by the Company's Board of Directors at its regularly scheduled meeting later this month," 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 Quarterly Report on Form 10-Q for the quarter ended June 30, 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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from |
| | **Jun 30,<br>2025** | Mar 31,<br>2025 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 |
| **Earnings ($ in millions except per share amounts)** |  |  |  |  |  |
| Net interest income | $**11708** | 11495 | 11923 | 2% | (2) |
| Noninterest income | **9114** | 8654 | 8766 | 5 | 4 |
| **Total revenue** | **20822** | 20149 | 20689 | 3 | 1 |
| &nbsp;&nbsp;&nbsp;*Net charge-offs* | ***997*** | *1009* | *1303* | (1) | (23) |
| &nbsp;&nbsp;&nbsp;*Change in the allowance for credit losses* | ***8*** | *(77)* | *(67)* | 110 | 112 |
| Provision for credit losses<sup>1</sup> | **1005** | 932 | 1236 | 8 | (19) |
| Noninterest expense | **13379** | 13891 | 13293 | (4) | 1 |
| Income tax expense | **916** | 522 | 1251 | 75 | (27) |
| **Wells Fargo net income** | $**5494** | 4894 | 4910 | 12 | 12 |
| Diluted earnings per common share | **1.60** | 1.39 | 1.33 | 15 | 20 |
| **Balance Sheet Data (average) ($ in billions)** |  |  |  |  |  |
| Loans | $**916.7** | 908.2 | 917.0 | 1 |  |
| Deposits | **1331.7** | 1339.3 | 1346.5 | (1) | (1) |
| Assets | **1933.4** | 1919.7 | 1914.6 | 1 | 1 |
| **Financial Ratios** |  |  |  |  |  |
| Return on assets (ROA) | **1.14%** | 1.03 | 1.03 |  |  |
| Return on equity (ROE) | **12.8** | 11.5 | 11.5 |  |  |
| Return on average tangible common equity (ROTCE)<sup>2</sup>  | **15.2** | 13.6 | 13.7 |  |  |
| Efficiency ratio<sup>3</sup> | **64** | 69 | 64 |  |  |
| Net interest margin on a taxable-equivalent basis | **2.68** | 2.67 | 2.75 |  |  |

---

***Second Quarter 2025 vs. Second Quarter 2024***

◦ Net interest income decreased 2%, driven by the impact of lower interest rates on floating rate assets and deposit mix changes, partially offset by lower market funding and lower deposit pricing

◦ Noninterest income increased 4%, and included the gain associated with our merchant services joint venture acquisition, an increase in asset-based fees in Wealth and Investment Management on higher market valuations, and higher investment banking fees, partially offset by lower net gains from trading in our Markets business

◦ Noninterest expense increased 1%, driven by higher revenue-related compensation expense predominantly in Wealth and Investment Management and higher technology and equipment expense, partially offset by lower operating losses, lower salaries expense reflecting the impact of efficiency initiatives, and a decrease in Federal Deposit Insurance Corporation (FDIC) assessment expense

◦ Provision for credit losses in second quarter 2025 included a slight increase in the allowance for credit losses, reflecting a higher allowance for credit card loans on higher loan balances, partially offset by a lower allowance for commercial real estate loans on lower loan balances

Endnotes are presented on page 9. 2

------

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

---

| | | | |
|:---|:---|:---|:---|
|  | | Quarter ended | Quarter ended |
| ($ in billions) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Jun 30,<br>2024 |
| **Capital:** |  |  |  |
| Total equity | $**183.0** | 182.9 | 178.1 |
| Common stockholders' equity | **164.6** | 162.6 | 160.0 |
| Tangible common equity<sup>1</sup> | **139.1** | 137.8 | 134.7 |
| Common Equity Tier 1 (CET1) ratio<sup>2</sup> | **11.1%** | 11.1 | 11.0 |
| Total loss absorbing capacity (TLAC) ratio<sup>3</sup> | **24.4** | 25.1 | 24.8 |
| Supplementary Leverage Ratio (SLR)<sup>4</sup> | **6.7** | 6.8 | 6.7 |
| **Liquidity:** |  |  |  |
| Liquidity Coverage Ratio (LCR)<sup>5</sup> | **121%** | 125 | 124 |

---

◦ In June, the Company completed the 2025 Comprehensive Capital Analysis and Review stress test process

&nbsp;&nbsp;&nbsp;&nbsp;▪ The Federal Reserve Board (FRB) revised our current stress capital buffer (SCB) to 3.7%, down from 3.8%, effective immediately

&nbsp;&nbsp;&nbsp;&nbsp;▪ The Company's SCB is expected to decrease to 2.5%; however, the FRB has a pending notice of proposed rulemaking that, if finalized as proposed, would result in the Company's expected SCB being 2.6%

&nbsp;&nbsp;&nbsp;&nbsp;▪ Third quarter 2025 common stock dividend is expected to be $0.45 per share, up from $0.40 per share, subject to approval by the Company's Board of Directors at its regularly scheduled meeting in July

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

---

| | | | |
|:---|:---|:---|:---|
| | | Quarter ended | Quarter ended |
| ($ in millions) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Jun 30,<br>2024 |
| Net loan charge-offs | $**997** | 1009 | 1301 |
| Net loan charge-offs as a % of average total loans (annualized) | **0.44%** | 0.45 | 0.57 |
| Total nonaccrual loans | $**7757** | 7978 | 8434 |
| As a % of total loans | **0.84%** | 0.87 | 0.92 |
| Total nonperforming assets | $**7964** | 8225 | 8650 |
| As a % of total loans | **0.86%** | 0.90 | 0.94 |
| Allowance for credit losses for loans | $**14568** | 14552 | 14789 |
| As a % of total loans | **1.58%** | 1.59 | 1.61 |

---

***Second Quarter 2025 vs. First Quarter 2025***

◦ Commercial net loan charge-offs as a percentage of average loans were 0.18% (annualized), up from 0.16%, driven by higher commercial and industrial net loan charge-offs, partially offset by lower commercial real estate net loan charge-offs, predominantly in the office portfolio. The consumer net loan charge-off rate decreased to 0.81% (annualized), down from 0.86%, on lower auto and credit card net loan charge-offs

◦ Nonperforming assets were down $261 million, or 3%, driven by lower commercial real estate nonaccrual loans, predominantly in the office portfolio

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 with annual sales generally up to $10 million. 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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from |
| | **Jun 30,<br>2025** | Mar 31,<br>2025 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 |
| **Earnings (in millions)** |  |  |  |  |  |
| Consumer, Small and Business Banking | $**6288** | 5981 | 6129 | 5% | 3 |
| Consumer Lending: |  |  |  |  |  |
| Home Lending | **821** | 866 | 823 | (5) |  |
| Credit Card  | **1588** | 1524 | 1452 | 4 | 9 |
| Auto | **241** | 237 | 282 | 2 | (15) |
| Personal Lending | **290** | 305 | 320 | (5) | (9) |
| **Total revenue** | **9228** | 8913 | 9006 | 4 | 2 |
| Provision for credit losses | **945** | 739 | 932 | 28 | 1 |
| Noninterest expense | **5799** | 5928 | 5701 | (2) | 2 |
| **Net income** | $**1863** | 1689 | 1777 | 10 | 5 |
| **Average balances (in billions)** |  |  |  |  |  |
| Loans | $**315.4** | 318.1 | 325.9 | (1) | (3) |
| Deposits | **781.4** | 778.6 | 778.2 |  |  |

---

***Second Quarter 2025 vs. Second Quarter 2024***

◦ Revenue increased 2%

&nbsp;&nbsp;&nbsp;&nbsp;▪ Consumer, Small and Business Banking was up 3% driven by the impact of lower interest rates on deposit pricing and higher deposit balances, partially offset by lower deposit-related fees

&nbsp;&nbsp;&nbsp;&nbsp;▪ Home Lending was stable and included lower net interest income on lower loan balances, offset by higher mortgage banking fees

&nbsp;&nbsp;&nbsp;&nbsp;▪ Credit Card was up 9% driven by higher loan balances

&nbsp;&nbsp;&nbsp;&nbsp;▪ Auto was down 15% due to lower loan balances and loan spread compression

&nbsp;&nbsp;&nbsp;&nbsp;▪ Personal Lending was down 9% driven by lower loan balances

◦ Noninterest expense increased 2% driven by higher branch personnel and advertising expense, partially offset by lower operating losses and the impact of efficiency initiatives

------

**<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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from |
| | **Jun 30,<br>2025** | Mar 31,<br>2025 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 |
| **Earnings (in millions)** |  |  |  |  |  |
| Net interest income | $**1983** | 1977 | 2281 | —% | (13) |
| Noninterest income | **950** | 948 | 841 |  | 13 |
| **Total revenue** | **2933** | 2925 | 3122 |  | (6) |
| Provision for credit losses | **(43)** | 187 | 29 | NM | NM |
| Noninterest expense | **1519** | 1670 | 1506 | (9) | 1 |
| **Net income** | $**1086** | 794 | 1182 | 37 | (8) |
| **Average balances (in billions)** |  |  |  |  |  |
| Loans | $**226.5** | 223.8 | 224.4 | 1 | 1 |
| Deposits | **178.0** | 182.9 | 166.9 | (3) | 7 |

---

NM – Not meaningful

***Second Quarter 2025 vs. Second Quarter 2024***

◦ Revenue decreased 6%

&nbsp;&nbsp;&nbsp;&nbsp;▪ Net interest income was down 13% due to the impact of lower interest rates, partially offset by lower deposit pricing and higher deposit and loan balances

&nbsp;&nbsp;&nbsp;&nbsp;▪ Noninterest income was up 13% driven by higher revenue from tax credit investments and higher treasury management fees

◦ Noninterest expense increased 1% driven by higher operating costs, partially offset by lower personnel expense reflecting 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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from |
| | **Jun 30,<br>2025** | Mar 31,<br>2025 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 |
| **Earnings (in millions)** |  |  |  |  |  |
| Banking: |  |  |  |  |  |
| Lending | $**601** | 618 | 688 | (3)% | (13) |
| Treasury Management and Payments | **611** | 618 | 687 | (1) | (11) |
| Investment Banking | **463** | 534 | 430 | (13) | 8 |
| Total Banking | **1675** | 1770 | 1805 | (5) | (7) |
| Commercial Real Estate | **1212** | 1449 | 1283 | (16) | (6) |
| Markets: |  |  |  |  |  |
| Fixed Income, Currencies, and Commodities (FICC) | **1391** | 1382 | 1228 | 1 | 13 |
| Equities | **387** | 448 | 558 | (14) | (31) |
| Credit Adjustment (CVA/DVA/FVA) and Other | **1** | (3) | 7 | 133 | (86) |
| Total Markets | **1779** | 1827 | 1793 | (3) | (1) |
| Other | **7** | 18 | (43) | (61) | 116 |
| **Total revenue** | **4673** | 5064 | 4838 | (8) | (3) |
| Provision for credit losses | **103** |  | 285 | NM | (64) |
| Noninterest expense | **2251** | 2476 | 2170 | (9) | 4 |
| **Net income** | $**1737** | 1941 | 1785 | (11) | (3) |
| **Average balances (in billions)** |  |  |  |  |  |
| Loans | $**285.9** | 277.3 | 275.8 | 3 | 4 |
| Deposits | **202.4** | 203.9 | 187.5 | (1) | 8 |

---

NM – Not meaningful

***Second Quarter 2025 vs. Second Quarter 2024***

◦ Revenue decreased 3%

&nbsp;&nbsp;&nbsp;&nbsp;▪ Banking was down 7% driven by the impact of lower interest rates, partially offset by lower deposit pricing and higher investment banking revenue including higher advisory fees

&nbsp;&nbsp;&nbsp;&nbsp;▪ Commercial Real Estate was down 6% due to lower loan balances, the impact of lower interest rates, and lower mortgage banking income reflecting the sale of our commercial non-agency third party servicing business in first quarter 2025. These decreases were partially offset by higher revenue in our affordable housing business and increased capital markets activity

&nbsp;&nbsp;&nbsp;&nbsp;▪ Markets was down 1% driven by lower revenue in equities as second quarter 2024 included a $122 million gain related to an exchange of shares of Visa Inc. Class B common stock, partially offset by higher revenue in foreign exchange and rates products

◦ Noninterest expense increased 4% driven by higher incentive compensation expense and higher operating costs, 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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from |
| | **Jun 30,<br>2025** | Mar 31,<br>2025 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 |
| **Earnings (in millions)** |  |  |  |  |  |
| Net interest income | $**891** | 826 | 906 | 8% | (2) |
| Noninterest income | **3007** | 3048 | 2952 | (1) | 2 |
| **Total revenue** | **3898** | 3874 | 3858 | 1 | 1 |
| Provision for credit losses | **12** | 11 | (14) | 9 | 186 |
| Noninterest expense | **3245** | 3360 | 3193 | (3) | 2 |
| **Net income** | $**480** | 392 | 484 | 22 | (1) |
| **Total client assets (in billions)** | **2346** | 2233 | 2200 | 5 | 7 |
| **Average balances (in billions)** |  |  |  |  |  |
| Loans | $**84.9** | 84.3 | 83.2 | 1 | 2 |
| Deposits | **123.6** | 123.4 | 102.8 |  | 20 |

---

***Second Quarter 2025 vs. Second Quarter 2024***

◦ Revenue increased 1%

&nbsp;&nbsp;&nbsp;&nbsp;▪ Net interest income was down 2% driven by the impact of lower interest rates, partially offset by higher deposit and loan balances

&nbsp;&nbsp;&nbsp;&nbsp;▪ Noninterest income was up 2% on higher asset-based fees driven by an increase in market valuations

◦ Noninterest expense increased 2% due to higher revenue-related compensation expense, partially offset by lower operating losses and 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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from |
| | **Jun 30,<br>2025** | Mar 31,<br>2025 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 |
| **Earnings (in millions)** |  |  |  |  |  |
| Net interest income | $**(103)** | 36 | (144) | NM | 28 |
| Noninterest income | **662** | (213) | 392 | 411% | 69 |
| **Total revenue** | **559** | (177) | 248 | 416 | 125 |
| Provision for credit losses | **(12)** | (5) | 4 | NM | NM |
| Noninterest expense | **565** | 457 | 723 | 24 | (22) |
| **Net income (loss)** | $**328** | 78 | (318) | 321 | 203 |

---

NM – Not meaningful

***Second Quarter 2025 vs. Second Quarter 2024***

◦ Revenue increased reflecting the gain associated with our merchant services joint venture acquisition

◦ Noninterest expense decreased reflecting lower FDIC assessment expense and lower professional and outside services expense

------

**Endnotes**

**Page 1 – Company-wide Financial Summary**

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

2. Represents our Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach, which is our binding CET1 ratio. See table on page 26 of the 2Q25 Quarterly Supplement for more information on CET1. CET1 for June 30, 2025, is a preliminary estimate.

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

4. 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 2Q25 Quarterly Supplement.

**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 2Q25 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 2Q25 Quarterly Supplement.

2. Represents our CET1 ratio calculated under the Standardized Approach, which is our binding CET1 ratio. See table on page 26 of the 2Q25 Quarterly Supplement for more information on CET1. CET1 for June 30, 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 June 30, 2025, is a preliminary estimate.

4. SLR for June 30, 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 June 30, 2025, is a preliminary estimate.

**Conference Call**

The Company will host a live conference call on Tuesday, July 15, 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/wf2Qearnings25.

A replay of the conference call will be available from approximately 1:00 p.m. ET on Tuesday, July 15 through

Tuesday, July 29. Please dial 1-866-360-7722 (U.S. and Canada) or 203-369-0174 (International/U.S. Toll) and enter passcode: 6786#. The replay will also be available online at

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

https://metroconnections-events.com/wf2Qearnings25.

------

**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) environmental, social 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 management may discuss forward-looking non-GAAP financial measures, such as forward-looking estimates or targets for return on average tangible common equity. 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 $2.0 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;**

![erwellsfargoimagea06a.jpg](erwellsfargoimagea06a.jpg)<br>

2Q25 Quarterly Supplement

------

**Wells Fargo & Company and Subsidiaries**

**QUARTERLY FINANCIAL DATA**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| | **Page** |
| **<u>Consolidated Results</u>** | |
| [Summary Financial Data](#i7f289e71265f4eaf906fa9a5cf75f01e_7) | [3](#i7f289e71265f4eaf906fa9a5cf75f01e_7) |
| [Consolidated Statement of Income](#i7f289e71265f4eaf906fa9a5cf75f01e_10) | [5](#i7f289e71265f4eaf906fa9a5cf75f01e_10) |
| [Consolidated Balance Sheet](#i7f289e71265f4eaf906fa9a5cf75f01e_13) | [6](#i7f289e71265f4eaf906fa9a5cf75f01e_13) |
| Average Balances and Interest Rates (Taxable-Equivalent Basis) | [7](#i7f289e71265f4eaf906fa9a5cf75f01e_16) |
| **<u>Reportable Operating Segment Results</u>** |  |
| Combined [Segment Results](#i7f289e71265f4eaf906fa9a5cf75f01e_19) | [8](#i7f289e71265f4eaf906fa9a5cf75f01e_19) |
| Consumer Banking and Lending | [10](#i7f289e71265f4eaf906fa9a5cf75f01e_25) |
| Commercial Banking | [12](#i7f289e71265f4eaf906fa9a5cf75f01e_28) |
| Corporate and Investment Banking | [14](#i7f289e71265f4eaf906fa9a5cf75f01e_31) |
| Wealth and Investment Management | [16](#i7f289e71265f4eaf906fa9a5cf75f01e_34) |
| Corporate | [17](#i7f289e71265f4eaf906fa9a5cf75f01e_37) |
| **<u>Credit-Related Information</u>** |  |
| Consolidated [Loans](#i7f289e71265f4eaf906fa9a5cf75f01e_40) Outstanding – Period-End Balances, Average Balances, and Average Interest Rates | [18](#i7f289e71265f4eaf906fa9a5cf75f01e_40) |
| Net Loan Charge-offs | [19](#i7f289e71265f4eaf906fa9a5cf75f01e_43) |
| Changes in Allowance for Credit Losses for Loans | [20](#i7f289e71265f4eaf906fa9a5cf75f01e_46) |
| Allocation of the Allowance for Credit Losses for Loans | [21](#i7f289e71265f4eaf906fa9a5cf75f01e_49) |
| [Nonperforming Assets](#i7f289e71265f4eaf906fa9a5cf75f01e_52) (Nonaccrual Loans and Foreclosed Assets) | [22](#i7f289e71265f4eaf906fa9a5cf75f01e_52) |
| Commercial Loan Portfolio – Commercial and Industrial Loans and Lease Financing by Industry and Commercial Real Estate Loans by Property Type | [23](#i7f289e71265f4eaf906fa9a5cf75f01e_469) |
| **<u>Equity</u>** |  |
| Tangible Common Equity | [24](#i7f289e71265f4eaf906fa9a5cf75f01e_64) |
| Risk-Based Capital Ratios Under Basel III | [26](#i7f289e71265f4eaf906fa9a5cf75f01e_67) |

---

*Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Quarterly Report on Form 10-Q for the quarter ended June 30, 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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | |
| (in millions, except ratios and per share amounts) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 | **Jun 30,<br>2025** | Jun 30,<br>2024 | %<br>Change |
| **Selected Income Statement Data** |  |  |  |  |  |  |  |  |  |  |
| Total revenue | $**20822** | 20149 | 20378 | 20366 | 20689 | 3% | 1 | $**40971** | 41552 | (1)% |
| Noninterest expense | **13379** | 13891 | 13900 | 13067 | 13293 | (4) | 1 | **27270** | 27631 | (1) |
| Pre-tax pre-provision profit (PTPP) (1) | **7443** | 6258 | 6478 | 7299 | 7396 | 19 | 1 | **13701** | 13921 | (2) |
| Provision for credit losses (2) | **1005** | 932 | 1095 | 1065 | 1236 | 8 | (19) | **1937** | 2174 | (11) |
| Wells Fargo net income | **5494** | 4894 | 5079 | 5114 | 4910 | 12 | 12 | **10388** | 9529 | 9 |
| Wells Fargo net income applicable to common stock | **5214** | 4616 | 4801 | 4852 | 4640 | 13 | 12 | **9830** | 8953 | 10 |
| **Common Share Data** |  |  |  |  |  |  |  |  |  |  |
| Diluted earnings per common share | **1.60** | 1.39 | 1.43 | 1.42 | 1.33 | 15 | 20 | **2.98** | 2.53 | 18 |
| Dividends declared per common share | **0.40** | 0.40 | 0.40 | 0.40 | 0.35 |  | 14 | **0.80** | 0.70 | 14 |
| Common shares outstanding | **3220.4** | 3261.7 | 3288.9 | 3345.5 | 3402.7 | (1) | (5) |  |  |  |
| Average common shares outstanding | **3232.7** | 3280.4 | 3312.8 | 3384.8 | 3448.3 | (1) | (6) | **3256.4** | 3504.2 | (7) |
| Diluted average common shares outstanding | **3267.0** | 3321.6 | 3360.7 | 3425.1 | 3486.2 | (2) | (6) | **3294.2** | 3543.2 | (7) |
| Book value per common share (3) | $**51.13** | 49.86 | 48.85 | 49.26 | 47.01 | 3 | 9 |  |  |  |
| Tangible book value per common share (3)(4) | **43.18** | 42.24 | 41.24 | 41.76 | 39.57 | 2 | 9 |  |  |  |
| **Selected Equity Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Total equity | **182954** | 182906 | 181066 | 185011 | 178148 |  | 3 |  |  |  |
| Common stockholders' equity | **164644** | 162627 | 160656 | 164801 | 159963 | 1 | 3 |  |  |  |
| Tangible common equity (4)  | **139057** | 137776 | 135628 | 139711 | 134660 | 1 | 3 |  |  |  |
| **Performance Ratios** |  |  |  |  |  |  |  |  |  |  |
| Return on average assets (ROA) (5) | **1.14%** | 1.03 | 1.05 | 1.06 | 1.03 |  |  | **1.09%** | 1.00 |  |
| Return on average equity (ROE) (6) | **12.8** | 11.5 | 11.7 | 11.7 | 11.5 |  |  | **12.2** | 11.0 |  |
| Return on average tangible common equity (ROTCE) (4)  | **15.2** | 13.6 | 13.9 | 13.9 | 13.7 |  |  | **14.4** | 13.0 |  |
| Efficiency ratio (7) | **64** | 69 | 68 | 64 | 64 |  |  | **67** | 66 |  |
| Net interest margin on a taxable-equivalent basis | **2.68** | 2.67 | 2.70 | 2.67 | 2.75 |  |  | **2.67** | 2.78 |  |
| Average deposit cost | **1.52** | 1.58 | 1.73 | 1.91 | 1.84 |  |  | **1.55** | 1.79 |  |

---

(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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | |
| ($ in millions, unless otherwise noted) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 | **Jun 30,<br>2025** | Jun 30,<br>2024 | %<br>Change |
| **Selected Balance Sheet Data (average)** |  |  |  |  |  |  |  |  |  |  |
| Loans | $**916719** | 908182 | 906353 | 910255 | 916977 | 1% |  | $**912474** | 922526 | (1)% |
| Assets | **1933371** | 1919661 | 1918536 | 1916612 | 1914647 | 1 | 1 | **1926554** | 1915810 | 1 |
| Deposits | **1331651** | 1339328 | 1353836 | 1341680 | 1346478 | (1) | (1) | **1335469** | 1344052 | (1) |
| **Selected Balance Sheet Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Debt securities | **533916** | 528493 | 519131 | 529832 | 520254 | 1 | 3 |  |  |  |
| Loans | **924418** | 913842 | 912745 | 909711 | 917907 | 1 | 1 |  |  |  |
| Allowance for credit losses for loans | **14568** | 14552 | 14636 | 14739 | 14789 |  | (1) |  |  |  |
| Equity securities | **67476** | 63601 | 60644 | 59771 | 60763 | 6 | 11 |  |  |  |
| Assets | **1981269** | 1950311 | 1929845 | 1922125 | 1940073 | 2 | 2 |  |  |  |
| Deposits | **1340703** | 1361728 | 1371804 | 1349646 | 1365894 | (2) | (2) |  |  |  |
| Headcount (#) (period-end) | **212804** | 215367 | 217502 | 220167 | 222544 | (1) | (4) |  |  |  |
| **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) | **11.1%** | 11.1 | 11.1 | 11.3 | 11.0 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 capital | **12.4** | 12.6 | 12.6 | 12.8 | 12.3 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total capital | **15.0** | 15.2 | 15.2 | 15.5 | 15.0 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Risk-weighted assets (RWAs) (in billions) | $**1227.1** | 1222.0 | 1216.1 | 1219.9 | 1219.5 |  | 1 |  |  |  |
| &nbsp;&nbsp;Advanced Approach:  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Equity Tier 1 (CET1) | **12.7%** | 12.7 | 12.4 | 12.7 | 12.3 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 capital | **14.2** | 14.5 | 14.1 | 14.4 | 13.8 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total capital | **16.2** | 16.5 | 16.1 | 16.4 | 15.8 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Risk-weighted assets (RWAs) (in billions) | $**1074.0** | 1063.6 | 1085.0 | 1089.3 | 1093.0 | 1 | (2) |  |  |  |
| Tier 1 leverage ratio  | **8.0%** | 8.1 | 8.1 | 8.3 | 8.0 |  |  |  |  |  |
| Supplementary Leverage Ratio (SLR) | **6.7** | 6.8 | 6.7 | 6.9 | 6.7 |  |  |  |  |  |
| Total Loss Absorbing Capacity (TLAC) Ratio (3)  | **24.4** | 25.1 | 24.8 | 25.3 | 24.8 |  |  |  |  |  |
| Liquidity Coverage Ratio (LCR) (4)  | **121** | 125 | 125 | 127 | 124 |  |  |  |  |  |

---

(1)Ratios and metrics for June 30, 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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | |
| (in millions, except per share amounts) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 | **Jun 30,<br>2025** | Jun 30,<br>2024 | %<br>Change |
| **Interest income** | $**21320** | 20973 | 22055 | 22998 | 22884 | 2% | (7) | $**42293** | 45724 | (8)% |
| **Interest expense** | **9612** | 9478 | 10219 | 11308 | 10961 | 1 | (12) | **19090** | 21574 | (12) |
| &nbsp;&nbsp;&nbsp;**Net interest income** | **11708** | 11495 | 11836 | 11690 | 11923 | 2 | (2) | **23203** | 24150 | (4) |
| **Noninterest income** |  |  |  |  |  |  |  |  |  |  |
| Deposit-related fees | **1249** | 1269 | 1237 | 1299 | 1249 | (2) |  | **2518** | 2479 | 2 |
| Lending-related fees | **373** | 364 | 388 | 376 | 369 | 2 | 1 | **737** | 736 |  |
| Investment advisory and other asset-based fees | **2499** | 2536 | 2566 | 2463 | 2415 | (1) | 3 | **5035** | 4746 | 6 |
| Commissions and brokerage services fees | **610** | 638 | 635 | 646 | 614 | (4) | (1) | **1248** | 1240 | 1 |
| Investment banking fees | **696** | 775 | 725 | 672 | 641 | (10) | 9 | **1471** | 1268 | 16 |
| Card fees (1) | **1173** | 1044 | 1084 | 1096 | 1101 | 12 | 7 | **2217** | 2162 | 3 |
| Mortgage banking | **230** | 332 | 294 | 280 | 243 | (31) | (5) | **562** | 473 | 19 |
| Net gains from trading activities | **1270** | 1373 | 950 | 1438 | 1442 | (8) | (12) | **2643** | 2896 | (9) |
| Net losses from debt securities | **—** | (147) | (448) | (447) |  | 100 | NM | **(147)** | (25) | NM |
| Net gains (losses) from equity securities | **119** | (343) | 715 | 257 | 80 | 135 | 49 | **(224)** | 98 | NM |
| Lease income | **264** | 272 | 241 | 277 | 292 | (3) | (10) | **536** | 713 | (25) |
| Other | **631** | 541 | 155 | 319 | 320 | 17 | 97 | **1172** | 616 | 90 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **9114** | 8654 | 8542 | 8676 | 8766 | 5 | 4 | **17768** | 17402 | 2 |
| **Total revenue** | **20822** | 20149 | 20378 | 20366 | 20689 | 3 | 1 | **40971** | 41552 | (1) |
| Provision for credit losses (2) | **1005** | 932 | 1095 | 1065 | 1236 | 8 | (19) | **1937** | 2174 | (11) |
| **Noninterest expense** |  |  |  |  |  |  |  |  |  |  |
| Personnel | **8709** | 9474 | 9071 | 8591 | 8575 | (8) | 2 | **18183** | 18067 | 1 |
| Technology, telecommunications and equipment | **1287** | 1223 | 1282 | 1142 | 1106 | 5 | 16 | **2510** | 2159 | 16 |
| Occupancy | **766** | 761 | 789 | 786 | 763 | 1 |  | **1527** | 1477 | 3 |
| Operating losses | **311** | 143 | 338 | 293 | 493 | 117 | (37) | **454** | 1126 | (60) |
| Professional and outside services | **1089** | 1038 | 1237 | 1130 | 1139 | 5 | (4) | **2127** | 2240 | (5) |
| Leases (3) | **154** | 157 | 158 | 152 | 159 | (2) | (3) | **311** | 323 | (4) |
| Advertising and promotion | **266** | 181 | 243 | 205 | 224 | 47 | 19 | **447** | 421 | 6 |
| Other | **797** | 914 | 782 | 768 | 834 | (13) | (4) | **1711** | 1818 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | **13379** | 13891 | 13900 | 13067 | 13293 | (4) | 1 | **27270** | 27631 | (1) |
| **Income before income tax expense** | **6438** | 5326 | 5383 | 6234 | 6160 | 21 | 5 | **11764** | 11747 |  |
| Income tax expense | **916** | 522 | 120 | 1064 | 1251 | 75 | (27) | **1438** | 2215 | (35) |
| **Net income before noncontrolling interests** | **5522** | 4804 | 5263 | 5170 | 4909 | 15 | 12 | **10326** | 9532 | 8 |
| Less: Net income (loss) from noncontrolling interests | **28** | (90) | 184 | 56 | (1) | 131 | NM | **(62)** | 3 | NM |
| **Wells Fargo net income** | $**5494** | 4894 | 5079 | 5114 | 4910 | 12% | 12 | $**10388** | 9529 | 9% |
| Less: Preferred stock dividends and other | **280** | 278 | 278 | 262 | 270 | 1 | 4 | **558** | 576 | (3) |
| **Wells Fargo net income applicable to common stock** | $**5214** | 4616 | 4801 | 4852 | 4640 | 13% | 12 | $**9830** | 8953 | 10% |
| **Per share information** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings per common share | $**1.61** | 1.41 | 1.45 | 1.43 | 1.35 | 14% | 19 | $**3.02** | 2.56 | 18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted earnings per common share | **1.60** | 1.39 | 1.43 | 1.42 | 1.33 | 15 | 20 | **2.98** | 2.53 | 18 |

---

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

(3)Represents expenses for assets we lease to customers.

------

Wells Fargo & Company and Subsidiaries

**CONSOLIDATED BALANCE SHEET**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from |
| (in millions, except shares) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 |
| **Assets** |  |  |  |  |  |  |  |
| Cash and due from banks | $**35081** | 35256 | 37080 | 33530 | 32701 | —% | 7 |
| Interest-earning deposits with banks | **159480** | 142309 | 166281 | 152016 | 199322 | 12 | (20) |
| Federal funds sold and securities purchased under resale agreements | **104815** | 126830 | 105330 | 105390 | 82259 | (17) | 27 |
| Debt securities: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading, at fair value | **127554** | 125037 | 121205 | 120677 | 120766 | 2 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Available-for-sale, at fair value | **184869** | 176229 | 162978 | 166004 | 148752 | 5 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Held-to-maturity, at amortized cost | **221493** | 227227 | 234948 | 243151 | 250736 | (3) | (12) |
| Loans held for sale | **8730** | 6431 | 6260 | 7275 | 7312 | 36 | 19 |
| Loans | **924418** | 913842 | 912745 | 909711 | 917907 | 1 | 1 |
| Allowance for loan losses | **(13961)** | (14029) | (14183) | (14330) | (14360) |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loans | **910457** | 899813 | 898562 | 895381 | 903547 | 1 | 1 |
| Mortgage servicing rights | **7048** | 7180 | 7779 | 7493 | 8027 | (2) | (12) |
| Premises and equipment, net | **10768** | 10357 | 10297 | 9955 | 9648 | 4 | 12 |
| Goodwill | **25071** | 25066 | 25167 | 25173 | 25172 |  |  |
| Derivative assets | **23912** | 18518 | 20012 | 17721 | 18721 | 29 | 28 |
| Equity securities | **67476** | 63601 | 60644 | 59771 | 60763 | 6 | 11 |
| Other assets | **94515** | 86457 | 73302 | 78588 | 72347 | 9 | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $**1981269** | 1950311 | 1929845 | 1922125 | 1940073 | 2 | 2 |
| **Liabilities** |  |  |  |  |  |  |  |
| Noninterest-bearing deposits | $**370844** | 377443 | 383616 | 370005 | 348525 | (2) | 6 |
| Interest-bearing deposits | **969859** | 984285 | 988188 | 979641 | 1017369 | (1) | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | **1340703** | 1361728 | 1371804 | 1349646 | 1365894 | (2) | (2) |
| Short-term borrowings | **187995** | 139776 | 108806 | 111894 | 118834 | 34 | 58 |
| Derivative liabilities | **12548** | 11109 | 16335 | 11390 | 16237 | 13 | (23) |
| Accrued expenses and other liabilities | **80832** | 81132 | 78756 | 82169 | 81824 |  | (1) |
| Long-term debt | **176237** | 173660 | 173078 | 182015 | 179136 | 1 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | **1798315** | 1767405 | 1748779 | 1737114 | 1761925 | 2 | 2 |
| **Equity** |  |  |  |  |  |  |  |
| Wells Fargo stockholders' equity: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | **16608** | 18608 | 18608 | 18608 | 16608 | (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 | **60669** | 60275 | 60817 | 60623 | 60373 | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | **221308** | 217405 | 214198 | 210749 | 207281 | 2 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | **(9366)** | (9998) | (12176) | (8372) | (12721) | 6 | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury stock (1) | **(117244)** | (114336) | (111463) | (107479) | (104247) | (3) | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Wells Fargo stockholders' equity | **181111** | 181090 | 179120 | 183265 | 176430 |  | 3 |
| Noncontrolling interests | **1843** | 1816 | 1946 | 1746 | 1718 | 1 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total equity | **182954** | 182906 | 181066 | 185011 | 178148 |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $**1981269** | 1950311 | 1929845 | 1922125 | 1940073 | 2 | 2 |

---

(1)Number of shares of treasury stock were 2,261,443,304, 2,220,135,208, 2,192,867,645, 2,136,319,281, and 2,079,100,421 at June 30, and March 31, 2025, and December 31, September 30, and June 30, 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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | %<br>Change |
| ($ in millions) | **Jun 30, 2025** | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2025 | Jun 30, 2024 | **Jun 30, 2025** | Jun 30, 2024 | %<br>Change |
| **Average Balances** |  |  |  |  |  |  |  |  |  |  |
| **Assets** |  |  |  |  |  |  |  |  |  |  |
| Interest-earning deposits with banks | $**137136** | 150855 | 171100 | 182219 | 196436 | (9)% | (30) | $**143958** | 202002 | (29)% |
| Federal funds sold and securities purchased under resale agreements | **105987** | 101175 | 93294 | 81549 | 71769 | 5 | 48 | **103594** | 70744 | 46 |
| Trading debt securities | **134785** | 134951 | 127639 | 125083 | 120590 |  | 12 | **134868** | 116380 | 16 |
| Available-for-sale debt securities | **187390** | 175550 | 168511 | 160729 | 150024 | 7 | 25 | **181503** | 145005 | 25 |
| Held-to-maturity debt securities | **227525** | 233952 | 242961 | 250010 | 258631 | (3) | (12) | **230720** | 261693 | (12) |
| Loans held for sale | **8266** | 7589 | 7210 | 7032 | 7091 | 9 | 17 | **7930** | 6463 | 23 |
| Loans | **916719** | 908182 | 906353 | 910255 | 916977 | 1 |  | **912474** | 922526 | (1) |
| Equity securities | **30304** | 29267 | 29211 | 27480 | 26332 | 4 | 15 | **29788** | 23841 | 25 |
| Other interest-earning assets | **14048** | 10796 | 10079 | 9711 | 8128 | 30 | 73 | **12431** | 8534 | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | **1762160** | 1752317 | 1756358 | 1754068 | 1755978 | 1 |  | **1757266** | 1757188 |  |
| Total noninterest-earning assets | **171211** | 167344 | 162178 | 162544 | 158669 | 2 | 8 | **169288** | 158622 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $**1933371** | 1919661 | 1918536 | 1916612 | 1914647 | 1 | 1 | $**1926554** | 1915810 | 1 |
| **Liabilities** |  |  |  |  |  |  |  |  |  |  |
| Interest-bearing deposits | $**970684** | 972927 | 984438 | 986206 | 1006806 |  | (4) | $**971799** | 1001840 | (3) |
| Short-term borrowings | **147917** | 127892 | 109178 | 109902 | 106685 | 16 | 39 | **137960** | 100836 | 37 |
| Long-term debt | **175289** | 173052 | 175414 | 183586 | 182201 | 1 | (4) | **174177** | 189659 | (8) |
| Other interest-bearing liabilities | **40769** | 39249 | 36245 | 34735 | 34613 | 4 | 18 | **40013** | 33717 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | **1334659** | 1313120 | 1305275 | 1314429 | 1330305 | 2 |  | **1323949** | 1326052 |  |
| Noninterest-bearing deposits | **360967** | 366401 | 369398 | 355474 | 339672 | (1) | 6 | **363670** | 342212 | 6 |
| Other noninterest-bearing liabilities | **54477** | 56782 | 60930 | 62341 | 63118 | (4) | (14) | **55623** | 63435 | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | **1750103** | 1736303 | 1735603 | 1732244 | 1733095 | 1 | 1 | **1743242** | 1731699 | 1 |
| Total equity | **183268** | 183358 | 182933 | 184368 | 181552 |  | 1 | **183312** | 184111 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total liabilities and equity** | $**1933371** | 1919661 | 1918536 | 1916612 | 1914647 | 1 | 1 | $**1926554** | 1915810 | 1 |
| **Average Interest Rates** |  |  |  |  |  |  |  |  |  |  |
| **Interest-earning assets** |  |  |  |  |  |  |  |  |  |  |
| Interest-earning deposits with banks | **3.96%** | 3.96 | 4.36 | 4.95 | 5.05 |  |  | **3.96%** | 5.02 |  |
| Federal funds sold and securities purchased under resale agreements | **4.19** | 4.26 | 4.66 | 5.24 | 5.27 |  |  | **4.22** | 5.28 |  |
| Trading debt securities | **4.23** | 4.13 | 4.16 | 4.25 | 4.14 |  |  | **4.18** | 4.11 |  |
| Available-for-sale debt securities | **4.62** | 4.48 | 4.45 | 4.33 | 4.21 |  |  | **4.55** | 4.11 |  |
| Held-to-maturity debt securities | **2.35** | 2.41 | 2.51 | 2.57 | 2.64 |  |  | **2.38** | 2.67 |  |
| Loans held for sale | **6.65** | 6.20 | 6.38 | 7.33 | 7.53 |  |  | **6.44** | 7.66 |  |
| Loans | **5.95** | 5.96 | 6.16 | 6.41 | 6.40 |  |  | **5.95** | 6.39 |  |
| Equity securities | **1.99** | 2.01 | 2.40 | 2.26 | 2.99 |  |  | **2.00** | 2.91 |  |
| Other interest-earning assets | **3.55** | 4.15 | 4.73 | 5.12 | 5.42 |  |  | **3.81** | 5.27 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | **4.87** | 4.85 | 5.02 | 5.24 | 5.25 |  |  | **4.86** | 5.25 |  |
| **Interest-bearing liabilities** |  |  |  |  |  |  |  |  |  |  |
| Interest-bearing deposits | **2.09** | 2.17 | 2.37 | 2.60 | 2.46 |  |  | **2.13** | 2.40 |  |
| Short-term borrowings | **4.37** | 4.32 | 4.67 | 5.20 | 5.19 |  |  | **4.35** | 5.17 |  |
| Long-term debt | **5.95** | 5.97 | 6.35 | 6.89 | 6.95 |  |  | **5.96** | 6.87 |  |
| Other interest-bearing liabilities | **3.26** | 3.33 | 3.01 | 3.05 | 3.13 |  |  | **3.29** | 3.01 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | **2.89** | 2.92 | 3.12 | 3.43 | 3.31 |  |  | **2.90** | 3.27 |  |
| **Interest rate spread on a taxable-equivalent basis (2)** | **1.98** | 1.93 | 1.90 | 1.81 | 1.94 |  |  | **1.96** | 1.98 |  |
| **Net interest margin on a taxable-equivalent basis (2)** | **2.68** | 2.67 | 2.70 | 2.67 | 2.75 |  |  | **2.67** | 2.78 |  |

---

(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)Includes taxable-equivalent adjustments of $77 million, $77 million, $78 million, $84 million, and $89 million for the quarters ended June 30, and March 31, 2025, and December 31, September 30, and June 30, 2024, respectively, and $154 million and $178 million for the first half of 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 June 30, 2025** | **Quarter ended June 30, 2025** | **Quarter ended June 30, 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;**Net interest income** | $**7199** | **1983** | **1815** | **891** | **(103)** | **(77)** | **11708** |
| &nbsp;&nbsp;**Noninterest income** | **2029** | **950** | **2858** | **3007** | **662** | **(392)** | **9114** |
| **Total revenue** | **9228** | **2933** | **4673** | **3898** | **559** | **(469)** | **20822** |
| **Provision for credit losses** | **945** | **(43)** | **103** | **12** | **(12)** | **—** | **1005** |
| **Noninterest expense** | **5799** | **1519** | **2251** | **3245** | **565** | **—** | **13379** |
| **Income (loss) before income tax expense (benefit)** | **2484** | **1457** | **2319** | **641** | **6** | **(469)** | **6438** |
| **Income tax expense (benefit)** | **621** | **369** | **582** | **161** | **(348)** | **(469)** | **916** |
| **Net income before noncontrolling interests** | **1863** | **1088** | **1737** | **480** | **354** | **—** | **5522** |
| **Less: Net income from noncontrolling interests** | **—** | **2** | **—** | **—** | **26** | **—** | **28** |
| **Net income** | $**1863** | **1086** | **1737** | **480** | **328** | **—** | **5494** |
|  |  |  |  |  | Quarter ended March 31, 2025 | Quarter ended March 31, 2025 | Quarter ended March 31, 2025 |
| &nbsp;&nbsp;&nbsp;Net interest income | $6943 | 1977 | 1790 | 826 | 36 | (77) | 11495 |
| &nbsp;&nbsp;&nbsp;Noninterest income | 1970 | 948 | 3274 | 3048 | (213) | (373) | 8654 |
| Total revenue | 8913 | 2925 | 5064 | 3874 | (177) | (450) | 20149 |
| Provision for credit losses | 739 | 187 |  | 11 | (5) |  | 932 |
| Noninterest expense | 5928 | 1670 | 2476 | 3360 | 457 |  | 13891 |
| Income (loss) before income tax expense (benefit) | 2246 | 1068 | 2588 | 503 | (629) | (450) | 5326 |
| Income tax expense (benefit) | 557 | 272 | 647 | 111 | (615) | (450) | 522 |
| Net income (loss) before noncontrolling interests | 1689 | 796 | 1941 | 392 | (14) |  | 4804 |
| Less: Net income (loss) from noncontrolling interests |  | 2 |  |  | (92) |  | (90) |
| Net income | $1689 | 794 | 1941 | 392 | 78 |  | 4894 |
|  |  |  |  |  | Quarter ended June 30, 2024 | Quarter ended June 30, 2024 | Quarter ended June 30, 2024 |
| &nbsp;&nbsp;&nbsp;Net interest income | $7024 | 2281 | 1945 | 906 | (144) | (89) | 11923 |
| &nbsp;&nbsp;&nbsp;Noninterest income | 1982 | 841 | 2893 | 2952 | 392 | (294) | 8766 |
| Total revenue | 9006 | 3122 | 4838 | 3858 | 248 | (383) | 20689 |
| Provision for credit losses | 932 | 29 | 285 | (14) | 4 |  | 1236 |
| Noninterest expense | 5701 | 1506 | 2170 | 3193 | 723 |  | 13293 |
| Income (loss) before income tax expense (benefit) | 2373 | 1587 | 2383 | 679 | (479) | (383) | 6160 |
| Income tax expense (benefit) | 596 | 402 | 598 | 195 | (157) | (383) | 1251 |
| Net income (loss) before noncontrolling interests | 1777 | 1185 | 1785 | 484 | (322) |  | 4909 |
| Less: Net income (loss) from noncontrolling interests |  | 3 |  |  | (4) |  | (1) |
| Net income (loss) | $1777 | 1182 | 1785 | 484 | (318) |  | 4910 |

---

(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)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 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;**Net interest income** | $**14142** | **3960** | **3605** | **1717** | **(67)** | **(154)** | **23203** |
| &nbsp;&nbsp;**Noninterest income** | **3999** | **1898** | **6132** | **6055** | **449** | **(765)** | **17768** |
| **Total revenue** | **18141** | **5858** | **9737** | **7772** | **382** | **(919)** | **40971** |
| **Provision for credit losses** | **1684** | **144** | **103** | **23** | **(17)** | **—** | **1937** |
| **Noninterest expense** | **11727** | **3189** | **4727** | **6605** | **1022** | **—** | **27270** |
| **Income (loss) before income tax expense (benefit)** | **4730** | **2525** | **4907** | **1144** | **(623)** | **(919)** | **11764** |
| **Income tax expense (benefit)** | **1178** | **641** | **1229** | **272** | **(963)** | **(919)** | **1438** |
| **Net income before noncontrolling interests** | **3552** | **1884** | **3678** | **872** | **340** | **—** | **10326** |
| **Less: Net income (loss) from noncontrolling interests** | **—** | **4** | **—** | **—** | **(66)** | **—** | **(62)** |
| **Net income** | $**3552** | **1880** | **3678** | **872** | **406** | **—** | **10388** |
|  |  |  |  |  | Six months ended June 30, 2024 | Six months ended June 30, 2024 | Six months ended June 30, 2024 |
| &nbsp;&nbsp;&nbsp;Net interest income | $14134 | 4559 | 3972 | 1775 | (112) | (178) | 24150 |
| &nbsp;&nbsp;&nbsp;Noninterest income | 3963 | 1715 | 5848 | 5825 | 683 | (632) | 17402 |
| Total revenue | 18097 | 6274 | 9820 | 7600 | 571 | (810) | 41552 |
| Provision for credit losses | 1720 | 172 | 290 | (11) | 3 |  | 2174 |
| Noninterest expense | 11725 | 3185 | 4500 | 6423 | 1798 |  | 27631 |
| Income (loss) before income tax expense (benefit) | 4652 | 2917 | 5030 | 1188 | (1230) | (810) | 11747 |
| Income tax expense (benefit) | 1169 | 743 | 1264 | 323 | (474) | (810) | 2215 |
| Net income (loss) before noncontrolling interests | 3483 | 2174 | 3766 | 865 | (756) |  | 9532 |
| Less: Net income (loss) from noncontrolling interests |  | 6 |  |  | (3) |  | 3 |
| Net income (loss) | $3483 | 2168 | 3766 | 865 | (753) |  | 9529 |

---

(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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | |
| ($ in millions) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 | **Jun 30,<br>2025** | Jun 30,<br>2024 | %<br>Change |
| **Income Statement** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $**7199** | 6943 | 7020 | 7149 | 7024 | 4% | 2 | $**14142** | 14134 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest income: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposit-related fees | **653** | 651 | 657 | 710 | 690 |  | (5) | **1304** | 1367 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card fees (1) | **1109** | 978 | 1019 | 1031 | 1036 | 13 | 7 | **2087** | 2026 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking | **169** | 222 | 185 | 137 | 135 | (24) | 25 | **391** | 328 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | **98** | 119 | 99 | 97 | 121 | (18) | (19) | **217** | 242 | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **2029** | 1970 | 1960 | 1975 | 1982 | 3 | 2 | **3999** | 3963 | 1 |
| Total revenue | **9228** | 8913 | 8980 | 9124 | 9006 | 4 | 2 | **18141** | 18097 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | **818** | 877 | 887 | 871 | 907 | (7) | (10) | **1695** | 1788 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in the allowance for credit losses | **127** | (138) | 24 | 59 | 25 | 192 | 408 | **(11)** | (68) | 84 |
| Provision for credit losses | **945** | 739 | 911 | 930 | 932 | 28 | 1 | **1684** | 1720 | (2) |
| Noninterest expense | **5799** | 5928 | 5925 | 5624 | 5701 | (2) | 2 | **11727** | 11725 |  |
| Income before income tax expense | **2484** | 2246 | 2144 | 2570 | 2373 | 11 | 5 | **4730** | 4652 | 2 |
| Income tax expense | **621** | 557 | 542 | 646 | 596 | 11 | 4 | **1178** | 1169 | 1 |
| Net income | $**1863** | 1689 | 1602 | 1924 | 1777 | 10 | 5 | $**3552** | 3483 | 2 |
| **Revenue by Line of Business** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer, Small and Business Banking | $**6288** | 5981 | 6067 | 6222 | 6129 | 5 | 3 | $**12269** | 12221 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer Lending: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Lending | **821** | 866 | 854 | 842 | 823 | (5) |  | **1687** | 1687 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Card (1) | **1588** | 1524 | 1489 | 1471 | 1452 | 4 | 9 | **3112** | 2948 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Auto | **241** | 237 | 263 | 273 | 282 | 2 | (15) | **478** | 582 | (18) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personal Lending | **290** | 305 | 307 | 316 | 320 | (5) | (9) | **595** | 659 | (10) |
| Total revenue | $**9228** | 8913 | 8980 | 9124 | 9006 | 4 | 2 | $**18141** | 18097 |  |
| **Selected Balance Sheet Data (average)** |  |  |  |  |  |  |  |  |  |  |
| Loans by Line of Business: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer, Small and Business Banking | $**5913** | 6034 | 6105 | 6230 | 6370 | (2) | (7) | $**5973** | 6418 | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer Lending: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Lending | **203556** | 205507 | 207780 | 209825 | 211994 | (1) | (4) | **204526** | 213164 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Card | **49947** | 50109 | 50243 | 49141 | 47463 |  | 5 | **50028** | 46937 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Auto | **42366** | 42498 | 43005 | 43949 | 45650 |  | (7) | **42432** | 46636 | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personal Lending | **13651** | 13902 | 14291 | 14470 | 14462 | (2) | (6) | **13776** | 14679 | (6) |
| Total loans | $**315433** | 318050 | 321424 | 323615 | 325939 | (1) | (3) | $**316735** | 327834 | (3) |
| Total deposits | **781384** | 778601 | 773631 | 773554 | 778228 |  |  | **780000** | 775738 | 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;Consumer, Small and Business Banking | $**6033** | 6144 | 6256 | 6372 | 6513 | (2) | (7) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer Lending: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Lending | **203062** | 204656 | 207022 | 209083 | 211172 | (1) | (4) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Card | **50084** | 49518 | 50992 | 49521 | 48400 | 1 | 3 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Auto | **43373** | 41999 | 42914 | 43356 | 44780 | 3 | (3) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personal Lending | **13790** | 13656 | 14246 | 14413 | 14495 | 1 | (5) |  |  |  |
| Total loans | $**316342** | 315973 | 321430 | 322745 | 325360 |  | (3) |  |  |  |
| Total deposits | **780978** | 798841 | 783490 | 775745 | 781817 | (2) |  |  |  |  |

---

(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.

------

Wells Fargo & Company and Subsidiaries

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

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | |
| ($ in millions, unless otherwise noted) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 | **Jun 30,<br>2025** | Jun 30,<br>2024 | %<br>Change |
| **Selected Metrics** |  |  |  |  |  |  |  |  |  |  |
| **Consumer Banking and Lending:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return on allocated capital (1) | **15.9%** | 14.5 | 13.4 | 16.3 | 15.1 |  |  | **15.2%** | 14.8 |  |
| &nbsp;&nbsp;&nbsp;Efficiency ratio (2) | **63** | 67 | 66 | 62 | 63 |  |  | **65** | 65 |  |
| &nbsp;&nbsp;&nbsp;Retail bank branches (#, period-end) | **4135** | 4155 | 4177 | 4196 | 4227 | —% | (2) |  |  |  |
| &nbsp;&nbsp;&nbsp;Digital active customers (# in millions, period-end) (3) | **36.6** | 36.7 | 36.0 | 35.8 | 35.6 |  | 3 |  |  |  |
| &nbsp;&nbsp;&nbsp;Mobile active customers (# in millions, period-end) (3) | **32.1** | 31.8 | 31.4 | 31.2 | 30.8 | 1 | 4 |  |  |  |
| **Consumer, Small and Business Banking:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposit spread (4) | **2.57%** | 2.47 | 2.46 | 2.52 | 2.50 |  |  | **2.52%** | 2.52 |  |
| &nbsp;&nbsp;&nbsp;Debit card purchase volume ($ in billions) (5) | $**133.6** | 126.0 | 131.0 | 126.8 | 128.2 | 6 | 4 | $**259.6** | 249.7 | 4% |
| &nbsp;&nbsp;&nbsp;Debit card purchase transactions (# in millions) (5) | **2655** | 2486 | 2622 | 2585 | 2581 | 7 | 3 | **5141** | 5023 | 2 |
| **Home Lending:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Mortgage banking: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net servicing income  | $**136** | 181 | 128 | 114 | 89 | (25) | 53 | $**317** | 180 | 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gains on mortgage loan originations/sales | **33** | 41 | 57 | 23 | 46 | (20) | (28) | **74** | 148 | (50) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total mortgage banking | $**169** | 222 | 185 | 137 | 135 | (24) | 25 | $**391** | 328 | 19 |
| &nbsp;&nbsp;&nbsp;Mortgage loan originations ($ in billions) | $**7.4** | 4.4 | 5.9 | 5.5 | 5.3 | 68 | 40 | $**11.8** | 8.8 | 34 |
| &nbsp;&nbsp;&nbsp;% of originations held for sale (HFS) | **34.0%** | 38.2 | 40.3 | 41.0 | 38.6 |  |  | **35.6%** | 40.6 |  |
| &nbsp;&nbsp;&nbsp;Third party mortgage loans serviced ($ in billions, period-end) (6) | $**455.5** | 471.1 | 486.9 | 499.1 | 512.8 | (3) | (11) |  |  |  |
| &nbsp;&nbsp;&nbsp;Mortgage servicing rights (MSR) carrying value (period-end) | **6417** | 6536 | 6844 | 6544 | 7061 | (2) | (9) |  |  |  |
| &nbsp;&nbsp;&nbsp;Home lending loans 30+ days delinquency rate (period-end) (7)(8)(9) | **0.30%** | 0.29 | 0.29 | 0.30 | 0.33 |  |  |  |  |  |
| **Credit Card:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Credit card purchase volume ($ in billions) (5) | $**46.4** | 42.5 | 45.1 | 43.4 | 42.9 | 9 | 8 | $**88.9** | 82.0 | 8 |
| &nbsp;&nbsp;&nbsp;Credit card new accounts (# in thousands) | **643** | 554 | 486 | 615 | 677 | 16 | (5) | **1197** | 1328 | (10) |
| &nbsp;&nbsp;&nbsp;Credit card loans 30+ days delinquency rate (period-end) (8)(9) | **2.64%** | 2.82 | 2.91 | 2.87 | 2.71 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Credit card loans 90+ days delinquency rate (period-end) (8)(9) | **1.32** | 1.46 | 1.51 | 1.43 | 1.40 |  |  |  |  |  |
| **Auto:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Auto loan originations ($ in billions) | $**6.9** | 4.6 | 5.0 | 4.1 | 3.7 | 50 | 86 | $**11.5** | 7.8 | 47 |
| &nbsp;&nbsp;&nbsp;Auto loans 30+ days delinquency rate (period-end) (8)(9) | **1.72%** | 1.87 | 2.31 | 2.28 | 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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | |
| ($ in millions) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 | **Jun 30,<br>2025** | Jun 30,<br>2024 | %<br>Change |
| **Income Statement** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net interest income | $**1983** | 1977 | 2248 | 2289 | 2281 | —% | (13) | $**3960** | 4559 | (13)% |
| &nbsp;&nbsp;&nbsp;Noninterest income: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposit-related fees | **324** | 335 | 303 | 303 | 290 | (3) | 12 | **659** | 574 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lending-related fees | **138** | 136 | 140 | 138 | 139 | 1 | (1) | **274** | 277 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease income | **116** | 123 | 124 | 126 | 133 | (6) | (13) | **239** | 282 | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | **372** | 354 | 356 | 477 | 279 | 5 | 33 | **726** | 582 | 25 |
| &nbsp;&nbsp;&nbsp;Total noninterest income | **950** | 948 | 923 | 1044 | 841 |  | 13 | **1898** | 1715 | 11 |
| Total revenue | **2933** | 2925 | 3171 | 3333 | 3122 |  | (6) | **5858** | 6274 | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | **98** | 41 | 111 | 50 | 97 | 139 | 1 | **139** | 172 | (19) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in the allowance for credit losses | **(141)** | 146 | (78) | 35 | (68) | NM | NM | **5** |  | NM |
| Provision for credit losses | **(43)** | 187 | 33 | 85 | 29 | NM | NM | **144** | 172 | (16) |
| Noninterest expense | **1519** | 1670 | 1525 | 1480 | 1506 | (9) | 1 | **3189** | 3185 |  |
| Income before income tax expense | **1457** | 1068 | 1613 | 1768 | 1587 | 36 | (8) | **2525** | 2917 | (13) |
| Income tax expense | **369** | 272 | 408 | 448 | 402 | 36 | (8) | **641** | 743 | (14) |
| Less: Net income from noncontrolling interests | **2** | 2 | 2 | 2 | 3 |  | (33) | **4** | 6 | (33) |
| Net income | $**1086** | 794 | 1203 | 1318 | 1182 | 37 | (8) | $**1880** | 2168 | (13) |
| **Revenue by Product** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Lending and leasing | $**1262** | 1267 | 1291 | 1293 | 1308 |  | (4) | $**2529** | 2617 | (3) |
| &nbsp;&nbsp;&nbsp;Treasury management and payments | **1250** | 1260 | 1423 | 1434 | 1412 | (1) | (11) | **2510** | 2833 | (11) |
| &nbsp;&nbsp;&nbsp;Other | **421** | 398 | 457 | 606 | 402 | 6 | 5 | **819** | 824 | (1) |
| Total revenue | $**2933** | 2925 | 3171 | 3333 | 3122 |  | (6) | $**5858** | 6274 | (7) |
| **Selected Metrics** |  |  |  |  |  |  |  |  |  |  |
| Return on allocated capital | **15.8%** | 11.4 | 17.4 | 19.2 | 17.3 |  |  | **13.6%** | 15.8 |  |
| Efficiency ratio | **52** | 57 | 48 | 44 | 48 |  |  | **54** | 51 |  |

---

NM – Not meaningful

------

Wells Fargo & Company and Subsidiaries

**COMMERCIAL BANKING SEGMENT (continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | |
| ($ in millions) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 | **Jun 30,<br>2025** | Jun 30,<br>2024 | %<br>Change |
| **Selected Balance Sheet Data (average)** |  |  |  |  |  |  |  |  |  |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $**167134** | 164113 | 162060 | 161967 | 164027 | 2% | 2 | $**165632** | 163650 | 1% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **44373** | 44598 | 44555 | 44756 | 44990 | (1) | (1) | **44485** | 45143 | (1) |
| &nbsp;&nbsp;&nbsp;Lease financing and other | **14954** | 15093 | 15180 | 15393 | 15406 | (1) | (3) | **15023** | 15379 | (2) |
| Total loans | $**226461** | 223804 | 221795 | 222116 | 224423 | 1 | 1 | $**225140** | 224172 |  |
| Total deposits | **177994** | 182859 | 184293 | 173158 | 166892 | (3) | 7 | **180413** | 165460 | 9 |
| Allocated capital | **26000** | 26000 | 26000 | 26000 | 26000 |  |  | **26000** | 26000 |  |
| **Selected Balance Sheet Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $**169958** | 168369 | 163464 | 163878 | 165878 | 1 | 2 |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **44484** | 44788 | 44506 | 44715 | 44978 | (1) | (1) |  |  |  |
| &nbsp;&nbsp;&nbsp;Lease financing and other | **15102** | 15109 | 15348 | 15406 | 15617 |  | (3) |  |  |  |
| Total loans | $**229544** | 228266 | 223318 | 223999 | 226473 | 1 | 1 |  |  |  |
| Total deposits | **179848** | 181469 | 188650 | 178406 | 168979 | (1) | 6 |  |  |  |

---

------

Wells Fargo & Company and Subsidiaries

**CORPORATE AND INVESTMENT BANKING SEGMENT** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | |
| ($ in millions) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 | **Jun 30,<br>2025** | Jun 30,<br>2024 | %<br>Change |
| **Income Statement** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net interest income | $**1815** | 1790 | 2054 | 1909 | 1945 | 1% | (7) | $**3605** | 3972 | (9)% |
| &nbsp;&nbsp;&nbsp;Noninterest income: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposit-related fees | **266** | 275 | 269 | 279 | 263 | (3) | 1 | **541** | 525 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lending-related fees | **209** | 201 | 221 | 213 | 205 | 4 | 2 | **410** | 408 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | **700** | 765 | 726 | 668 | 634 | (8) | 10 | **1465** | 1281 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gains from trading activities | **1229** | 1347 | 933 | 1366 | 1387 | (9) | (11) | **2576** | 2792 | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | **454** | 686 | 410 | 476 | 404 | (34) | 12 | **1140** | 842 | 35 |
| &nbsp;&nbsp;&nbsp;Total noninterest income | **2858** | 3274 | 2559 | 3002 | 2893 | (13) | (1) | **6132** | 5848 | 5 |
| Total revenue | **4673** | 5064 | 4613 | 4911 | 4838 | (8) | (3) | **9737** | 9820 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | **75** | 97 | 214 | 196 | 303 | (23) | (75) | **172** | 499 | (66) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in the allowance for credit losses | **28** | (97) | (9) | (170) | (18) | 129 | 256 | **(69)** | (209) | 67 |
| Provision for credit losses | **103** |  | 205 | 26 | 285 | NM | (64) | **103** | 290 | (64) |
| Noninterest expense | **2251** | 2476 | 2300 | 2229 | 2170 | (9) | 4 | **4727** | 4500 | 5 |
| Income before income tax expense | **2319** | 2588 | 2108 | 2656 | 2383 | (10) | (3) | **4907** | 5030 | (2) |
| Income tax expense | **582** | 647 | 528 | 664 | 598 | (10) | (3) | **1229** | 1264 | (3) |
| Net income | $**1737** | 1941 | 1580 | 1992 | 1785 | (11) | (3) | $**3678** | 3766 | (2) |
| **Revenue by Line of Business** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Banking: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lending | $**601** | 618 | 691 | 698 | 688 | (3) | (13) | $**1219** | 1369 | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasury Management and Payments | **611** | 618 | 644 | 695 | 687 | (1) | (11) | **1229** | 1373 | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Banking | **463** | 534 | 491 | 419 | 430 | (13) | 8 | **997** | 904 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Banking | **1675** | 1770 | 1826 | 1812 | 1805 | (5) | (7) | **3445** | 3646 | (6) |
| &nbsp;&nbsp;&nbsp;Commercial Real Estate | **1212** | 1449 | 1274 | 1364 | 1283 | (16) | (6) | **2661** | 2506 | 6 |
| &nbsp;&nbsp;&nbsp;Markets: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed Income, Currencies, and Commodities (FICC) | **1391** | 1382 | 1179 | 1327 | 1228 | 1 | 13 | **2773** | 2587 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equities | **387** | 448 | 385 | 396 | 558 | (14) | (31) | **835** | 1008 | (17) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Adjustment (CVA/DVA/FVA) and Other (1) | **1** | (3) | (71) | 31 | 7 | 133 | (86) | **(2)** | 26 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Markets | **1779** | 1827 | 1493 | 1754 | 1793 | (3) | (1) | **3606** | 3621 |  |
| &nbsp;&nbsp;&nbsp;Other | **7** | 18 | 20 | (19) | (43) | (61) | 116 | **25** | 47 | (47) |
| Total revenue | $**4673** | 5064 | 4613 | 4911 | 4838 | (8) | (3) | $**9737** | 9820 | (1) |
| **Selected Metrics** |  |  |  |  |  |  |  |  |  |  |
| Return on allocated capital | **14.9%** | 17.0 | 13.4 | 17.1 | 15.4 |  |  | **15.9%** | 16.3 |  |
| Efficiency ratio | **48** | 49 | 50 | 45 | 45 |  |  | **49** | 46 |  |

---

NM – Not meaningful

(1)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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | |
| ($ in millions) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 | **Jun 30,<br>2025** | Jun 30,<br>2024 | %<br>Change |
| **Selected Balance Sheet Data (average)** |  |  |  |  |  |  |  |  |  |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $**202473** | 192654 | 185677 | 183255 | 180789 | 5% | 12 | $**197590** | 183110 | 8% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **83413** | 84633 | 88285 | 91963 | 94998 | (1) | (12) | **84020** | 96405 | (13) |
| Total loans | $**285886** | 277287 | 273962 | 275218 | 275787 | 3 | 4 | $**281610** | 279515 | 1 |
| Loans by Line of Business: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Banking | $**88994** | 86528 | 85722 | 86548 | 86130 | 3 | 3 | $**87768** | 88513 | (1) |
| &nbsp;&nbsp;&nbsp;Commercial Real Estate | **117917** | 117318 | 119414 | 124056 | 128107 | 1 | (8) | **117619** | 129908 | (9) |
| &nbsp;&nbsp;&nbsp;Markets | **78975** | 73441 | 68826 | 64614 | 61550 | 8 | 28 | **76223** | 61094 | 25 |
| Total loans | $**285886** | 277287 | 273962 | 275218 | 275787 | 3 | 4 | $**281610** | 279515 | 1 |
| Trading-related assets: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Trading account securities | $**149301** | 151483 | 144903 | 140501 | 136101 | (1) | 10 | $**150386** | 128724 | 17 |
| &nbsp;&nbsp;&nbsp;Reverse repurchase agreements/securities borrowed | **101894** | 97171 | 87517 | 74041 | 64896 | 5 | 57 | **99546** | 63876 | 56 |
| &nbsp;&nbsp;&nbsp;Derivative assets | **23404** | 19688 | 20254 | 19668 | 18552 | 19 | 26 | **21556** | 17793 | 21 |
| Total trading-related assets | $**274599** | 268342 | 252674 | 234210 | 219549 | 2 | 25 | $**271488** | 210393 | 29 |
| Total assets | **641499** | 611037 | 588154 | 574697 | 558063 | 5 | 15 | **626352** | 554498 | 13 |
| Total deposits | **202420** | 203914 | 205077 | 194315 | 187545 | (1) | 8 | **203163** | 185408 | 10 |
| Allocated capital | **44000** | 44000 | 44000 | 44000 | 44000 |  |  | **44000** | 44000 |  |
| **Selected Balance Sheet Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $**208161** | 197142 | 192573 | 183341 | 181441 | 6 | 15 |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **82417** | 83522 | 86107 | 90382 | 93889 | (1) | (12) |  |  |  |
| Total loans | $**290578** | 280664 | 278680 | 273723 | 275330 | 4 | 6 |  |  |  |
| Loans by Line of Business: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Banking | $**90999** | 88239 | 86328 | 88221 | 84054 | 3 | 8 |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial Real Estate | **117233** | 116051 | 117213 | 121238 | 126080 | 1 | (7) |  |  |  |
| &nbsp;&nbsp;&nbsp;Markets | **82346** | 76374 | 75139 | 64264 | 65196 | 8 | 26 |  |  |  |
| Total loans | $**290578** | 280664 | 278680 | 273723 | 275330 | 4 | 6 |  |  |  |
| Trading-related assets: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Trading account securities | $**158008** | 150401 | 142727 | 144148 | 140928 | 5 | 12 |  |  |  |
| &nbsp;&nbsp;&nbsp;Reverse repurchase agreements/securities borrowed | **100268** | 122875 | 96470 | 83562 | 70615 | (18) | 42 |  |  |  |
| &nbsp;&nbsp;&nbsp;Derivative assets | **24700** | 18883 | 21332 | 17906 | 19186 | 31 | 29 |  |  |  |
| Total trading-related assets | $**282976** | 292159 | 260529 | 245616 | 230729 | (3) | 23 |  |  |  |
| Total assets | **658029** | 632478 | 597278 | 583144 | 565334 | 4 | 16 |  |  |  |
| Total deposits | **208048** | 209200 | 212948 | 199700 | 200920 | (1) | 4 |  |  |  |

---

------

Wells Fargo & Company and Subsidiaries

**WEALTH AND INVESTMENT MANAGEMENT SEGMENT**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | |
| ($ in millions, unless otherwise noted) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 | **Jun 30,<br>2025** | Jun 30,<br>2024 | %<br>Change |
| **Income Statement** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net interest income | $**891** | 826 | 856 | 842 | 906 | 8% | (2) | $**1717** | 1775 | (3)% |
| &nbsp;&nbsp;&nbsp;Noninterest income: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment advisory and other asset-based fees | **2440** | 2474 | 2504 | 2406 | 2357 | (1) | 4 | **4914** | 4624 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commissions and brokerage services fees | **511** | 534 | 539 | 548 | 521 | (4) | (2) | **1045** | 1066 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | **56** | 40 | 59 | 82 | 74 | 40 | (24) | **96** | 135 | (29) |
| &nbsp;&nbsp;&nbsp;Total noninterest income | **3007** | 3048 | 3102 | 3036 | 2952 | (1) | 2 | **6055** | 5825 | 4 |
| Total revenue | **3898** | 3874 | 3958 | 3878 | 3858 | 1 | 1 | **7772** | 7600 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | **6** | (6) | (1) | (5) | (2) | 200 | 400 | **—** | 4 | (100) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in the allowance for credit losses | **6** | 17 | (26) | 21 | (12) | (65) | 150 | **23** | (15) | 253 |
| Provision for credit losses | **12** | 11 | (27) | 16 | (14) | 9 | 186 | **23** | (11) | 309 |
| Noninterest expense | **3245** | 3360 | 3307 | 3154 | 3193 | (3) | 2 | **6605** | 6423 | 3 |
| Income before income tax expense | **641** | 503 | 678 | 708 | 679 | 27 | (6) | **1144** | 1188 | (4) |
| Income tax expense | **161** | 111 | 170 | 179 | 195 | 45 | (17) | **272** | 323 | (16) |
| Net income | $**480** | 392 | 508 | 529 | 484 | 22 | (1) | $**872** | 865 | 1 |
| **Selected Metrics** |  |  |  |  |  |  |  |  |  |  |
| Return on allocated capital | **28.7%** | 23.6 | 30.2 | 31.5 | 29.0 |  |  | **26.1%** | 25.8 |  |
| Efficiency ratio | **83** | 87 | 84 | 81 | 83 |  |  | **85** | 85 |  |
| Client assets ($ in billions, period-end): |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Advisory assets  | $**1042** | 980 | 998 | 993 | 945 | 6 | 10 |  |  |  |
| &nbsp;&nbsp;&nbsp;Other brokerage assets and deposits  | **1304** | 1253 | 1295 | 1301 | 1255 | 4 | 4 |  |  |  |
| Total client assets | $**2346** | 2233 | 2293 | 2294 | 2200 | 5 | 7 |  |  |  |
| **Selected Balance Sheet Data (average)** |  |  |  |  |  |  |  |  |  |  |
| Total loans | $**84871** | 84344 | 83570 | 82797 | 83166 | 1 | 2 | $**84609** | 82824 | 2 |
| Total deposits | **123611** | 123378 | 118327 | 107991 | 102843 |  | 20 | **123495** | 102158 | 21 |
| Allocated capital | **6500** | 6500 | 6500 | 6500 | 6500 |  |  | **6500** | 6500 |  |
| **Selected Balance Sheet Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Total loans | $**84990** | 84444 | 84340 | 83023 | 83338 | 1 | 2 |  |  |  |
| Total deposits | **122912** | 124582 | 127008 | 112472 | 103722 | (1) | 19 |  |  |  |

---

------

Wells Fargo & Company and Subsidiaries

**CORPORATE (1)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Quarter ended | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | |
| ($ in millions) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 | **Jun 30,<br>2025** | Jun 30,<br>2024 | %<br>Change |
| **Income Statement** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net interest income | $**(103)** | 36 | (264) | (415) | (144) | NM | 28 | $**(67)** | (112) | 40% |
| &nbsp;&nbsp;&nbsp;Noninterest income | **662** | (213) | 368 | 78 | 392 | 411% | 69 | **449** | 683 | (34) |
| Total revenue | **559** | (177) | 104 | (337) | 248 | 416 | 125 | **382** | 571 | (33) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | **—** |  | (23) | (1) | (2) | NM | 100 | **—** | (3) | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in the allowance for credit losses | **(12)** | (5) | (4) | 9 | 6 | NM | NM | **(17)** | 6 | NM |
| Provision for credit losses | **(12)** | (5) | (27) | 8 | 4 | NM | NM | **(17)** | 3 | NM |
| Noninterest expense | **565** | 457 | 843 | 580 | 723 | 24 | (22) | **1022** | 1798 | (43) |
| Income (loss) before income tax benefit | **6** | (629) | (712) | (925) | (479) | 101 | 101 | **(623)** | (1230) | 49 |
| Income tax benefit | **(348)** | (615) | (1080) | (330) | (157) | 43 | NM | **(963)** | (474) | NM |
| Less: Net income (loss) from noncontrolling interests | **26** | (92) | 182 | 54 | (4) | 128 | 750 | **(66)** | (3) | NM |
| Net income (loss) | $**328** | 78 | 186 | (649) | (318) | 321 | 203 | $**406** | (753) | 154 |
| **Selected Balance Sheet Data (average)** |  |  |  |  |  |  |  |  |  |  |
| Available-for-sale debt securities | $**172879** | 161430 | 153969 | 147093 | 131822 | 7 | 31 | $**167186** | 127308 | 31 |
| Held-to-maturity debt securities | **220364** | 226714 | 235661 | 242621 | 251100 | (3) | (12) | **223521** | 254094 | (12) |
| Equity securities | **15493** | 15398 | 15027 | 15216 | 15571 | 1 | (1) | **15446** | 15765 | (2) |
| Total assets | **601010** | 618339 | 639324 | 648930 | 656535 | (3) | (8) | **609627** | 660009 | (8) |
| Total deposits | **46242** | 50576 | 72508 | 92662 | 110970 | (9) | (58) | **48398** | 115288 | (58) |
| **Selected Balance Sheet Data (period-end)** |  |  |  |  |  |  |  |  |  |  |
| Available-for-sale debt securities | $**176235** | 167634 | 154397 | 157042 | 138087 | 5 | 28 |  |  |  |
| Held-to-maturity debt securities | **218360** | 224111 | 231892 | 240174 | 247746 | (3) | (12) |  |  |  |
| Equity securities | **15907** | 15138 | 15437 | 14861 | 15297 | 5 | 4 |  |  |  |
| Total assets | **624556** | 621445 | 633799 | 642618 | 670494 | 1 | (7) |  |  |  |
| Total deposits | **48917** | 47636 | 59708 | 83323 | 110456 | 3 | (56) |  |  |  |

---

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 | Jun 30, 2025 <br>$ Change from | Jun 30, 2025 <br>$ Change from |
| ($ in millions) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 |
| **Period-End Loans** |  |  |  |  |  |  |  |
| Commercial and industrial | $**402150** | 390533 | 381241 | 372750 | 374588 | 11617 | 27562 |
| Commercial real estate | **132560** | 134035 | 136505 | 141410 | 145318 | (1475) | (12758) |
| Lease financing | **15060** | 16131 | 16413 | 16482 | 16705 | (1071) | (1645) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **549770** | 540699 | 534159 | 530642 | 536611 | 9071 | 13159 |
| Residential mortgage | **245755** | 247613 | 250269 | 252676 | 255085 | (1858) | (9330) |
| Credit card | **55318** | 54608 | 56542 | 55046 | 53756 | 710 | 1562 |
| Auto | **42878** | 41482 | 42367 | 42815 | 44280 | 1396 | (1402) |
| Other consumer | **30697** | 29440 | 29408 | 28532 | 28175 | 1257 | 2522 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **374648** | 373143 | 378586 | 379069 | 381296 | 1505 | (6648) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | $**924418** | 913842 | 912745 | 909711 | 917907 | 10576 | 6511 |
| **Average Loans** |  |  |  |  |  |  |  |
| Commercial and industrial | $**393602** | 381702 | 372848 | 370911 | 371514 | 11900 | 22088 |
| Commercial real estate | **133661** | 135271 | 139111 | 143187 | 146750 | (1610) | (13089) |
| Lease financing | **16046** | 16182 | 16301 | 16529 | 16519 | (136) | (473) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **543309** | 533155 | 528260 | 530627 | 534783 | 10154 | 8526 |
| Residential mortgage | **246512** | 248739 | 251256 | 253667 | 256189 | (2227) | (9677) |
| Credit card | **54985** | 55363 | 55699 | 54580 | 52642 | (378) | 2343 |
| Auto | **41865** | 41967 | 42466 | 43430 | 45164 | (102) | (3299) |
| Other consumer | **30048** | 28958 | 28672 | 27951 | 28199 | 1090 | 1849 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **373410** | 375027 | 378093 | 379628 | 382194 | (1617) | (8784) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | $**916719** | 908182 | 906353 | 910255 | 916977 | 8537 | (258) |
| **Average Interest Rates** |  |  |  |  |  |  |  |
| Commercial and industrial | **6.29%** | 6.34 | 6.73 | 7.16 | 7.22 |  |  |
| Commercial real estate | **6.17** | 6.19 | 6.52 | 6.90 | 6.93 |  |  |
| Lease financing | **5.72** | 5.78 | 5.77 | 5.68 | 5.47 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **6.24** | 6.28 | 6.65 | 7.05 | 7.08 |  |  |
| Residential mortgage | **3.70** | 3.68 | 3.68 | 3.67 | 3.65 |  |  |
| Credit card | **12.65** | 12.74 | 12.53 | 12.73 | 12.75 |  |  |
| Auto | **5.48** | 5.33 | 5.29 | 5.22 | 5.09 |  |  |
| Other consumer | **7.47** | 7.61 | 7.97 | 8.56 | 8.56 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **5.52** | 5.51 | 5.48 | 5.51 | 5.43 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | **5.95** | 5.96 | 6.16 | 6.41 | 6.40 |  |  |

---

------

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 | | |
| | **Jun 30, 2025** | **Jun 30, 2025** | Mar 31, 2025 | Mar 31, 2025 | Dec 31, 2024 | Dec 31, 2024 | Sep 30, 2024 | Sep 30, 2024 | Jun 30, 2024 | Jun 30, 2024 | Jun 30, 2025 <br>$ Change from | Jun 30, 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) | Mar 31,<br>2025 | Jun 30,<br>2024 |
| By product: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $**179** | **0.18%** | $108 | 0.11% | $132 | 0.14% | $129 | 0.14% | $188 | 0.20% | $71 | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | **61** | **0.18** | 95 | 0.28 | 261 | 0.74 | 184 | 0.51 | 271 | 0.74 | (34) | (210) |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease financing | **7** | **0.17** | 8 | 0.20 | 10 | 0.23 | 10 | 0.25 | 9 | 0.21 | (1) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **247** | **0.18** | 211 | 0.16 | 403 | 0.30 | 323 | 0.24 | 468 | 0.35 | 36 | (221) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | **(3)** | **—** | (15) | (0.02) | (14) | (0.02) | (23) | (0.04) | (19) | (0.03) | 12 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | **622** | **4.54** | 650 | 4.76 | 628 | 4.49 | 601 | 4.38 | 649 | 4.96 | (28) | (27) |
| &nbsp;&nbsp;&nbsp;&nbsp;Auto | **30** | **0.29** | 64 | 0.62 | 82 | 0.77 | 83 | 0.76 | 79 | 0.70 | (34) | (49) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | **101** | **1.35** | 99 | 1.39 | 112 | 1.56 | 127 | 1.82 | 124 | 1.77 | 2 | (23) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **750** | **0.81** | 798 | 0.86 | 808 | 0.85 | 788 | 0.83 | 833 | 0.88 | (48) | (83) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total net loan charge-offs | $**997** | **0.44%** | $1009 | 0.45% | $1211 | 0.53% | $1111 | 0.49% | $1301 | 0.57% | $(12) | (304) |
| By segment: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer Banking and Lending | $**818** | **1.04%** | $877 | 1.12% | $887 | 1.10% | $871 | 1.07% | $907 | 1.12% | $(59) | (89) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial Banking | **98** | **0.17** | 41 | 0.07 | 111 | 0.20 | 50 | 0.09 | 94 | 0.17 | 57 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate and Investing Banking | **75** | **0.11** | 97 | 0.14 | 214 | 0.31 | 196 | 0.28 | 303 | 0.44 | (22) | (228) |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth and Investment Management | **6** | **0.03** | (6) | (0.03) | (1) |  | (5) | (0.02) | (2) | (0.01) | 12 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate | **—** | **—** |  |  |  |  | (1) | (0.06) | (1) | (0.05) |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total net loan charge-offs | $**997** | **0.44%** | $1009 | 0.45% | $1211 | 0.53% | $1111 | 0.49% | $1301 | 0.57% | $(12) | (304) |

---

(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 | Jun 30, 2025 <br>$ Change from | Jun 30, 2025 <br>$ Change from |
| ($ in millions) | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 |
| **Balance, beginning of period** | $**14552** | 14636 | 14739 | 14789 | 14862 | (84) | (310) |
| Provision for credit losses for loans | **1007** | 925 | 1116 | 1059 | 1229 | 82 | (222) |
| Net loan charge-offs: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | **(179)** | (108) | (132) | (129) | (188) | (71) | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | **(61)** | (95) | (261) | (184) | (271) | 34 | 210 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease financing | **(7)** | (8) | (10) | (10) | (9) | 1 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **(247)** | (211) | (403) | (323) | (468) | (36) | 221 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | **3** | 15 | 14 | 23 | 19 | (12) | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | **(622)** | (650) | (628) | (601) | (649) | 28 | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;Auto | **(30)** | (64) | (82) | (83) | (79) | 34 | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | **(101)** | (99) | (112) | (127) | (124) | (2) | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **(750)** | (798) | (808) | (788) | (833) | 48 | 83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loan charge-offs | **(997)** | (1009) | (1211) | (1111) | (1301) | 12 | 304 |
| Other | **6** |  | (8) | 2 | (1) | 6 | 7 |
| **Balance, end of period** | $**14568** | 14552 | 14636 | 14739 | 14789 | 16 | (221) |
| Components: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan losses | $**13961** | 14029 | 14183 | 14330 | 14360 | (68) | (399) |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for unfunded credit commitments | **607** | 523 | 453 | 409 | 429 | 84 | 178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses for loans | $**14568** | 14552 | 14636 | 14739 | 14789 | 16 | (221) |
| Ratio of allowance for loan losses to total net loan charge-offs (annualized) | **3.49x** | 3.43 | 2.95 | 3.24 | 2.74 |  |  |
| Allowance for loan losses as a percentage of: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans | **1.51%** | 1.54 | 1.55 | 1.58 | 1.56 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual loans | **180** | 176 | 183 | 175 | 170 |  |  |
| Allowance for credit losses for loans as a percentage of: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans | **1.58** | 1.59 | 1.60 | 1.62 | 1.61 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual loans | **188** | 182 | 189 | 180 | 175 |  |  |

---

------

Wells Fargo & Company and Subsidiaries

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

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Jun 30, 2025** | **Jun 30, 2025** | Mar 31, 2025 | Mar 31, 2025 | Dec 31, 2024 | Dec 31, 2024 | Sep 30, 2024 | Sep 30, 2024 | Jun 30, 2024 | Jun 30, 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 | $**4306** | **1.07%** | $4331 | 1.11% | $4151 | 1.09% | $4230 | 1.13% | $4276 | 1.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | **3317** | **2.50** | 3365 | 2.51 | 3583 | 2.62 | 3653 | 2.58 | 3754 | 2.58 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease financing | **212** | **1.41** | 234 | 1.45 | 212 | 1.29 | 209 | 1.27 | 206 | 1.23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **7835** | **1.43** | 7930 | 1.47 | 7946 | 1.49 | 8092 | 1.52 | 8236 | 1.53 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage (1) | **568** | **0.23** | 542 | 0.22 | 541 | 0.22 | 542 | 0.21 | 521 | 0.20 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | **4910** | **8.88** | 4840 | 8.86 | 4869 | 8.61 | 4704 | 8.55 | 4517 | 8.40 |
| &nbsp;&nbsp;&nbsp;&nbsp;Auto | **657** | **1.53** | 629 | 1.52 | 636 | 1.50 | 726 | 1.70 | 804 | 1.82 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | **598** | **1.95** | 611 | 2.08 | 644 | 2.19 | 675 | 2.37 | 711 | 2.52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **6733** | **1.80** | 6622 | 1.77 | 6690 | 1.77 | 6647 | 1.75 | 6553 | 1.72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total allowance for credit losses for loans | $**14568** | **1.58%** | $14552 | 1.59% | $14636 | 1.60% | $14739 | 1.62% | $14789 | 1.61% |
| By segment: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer Banking and Lending | $**7458** | **2.36%** | $7332 | 2.32% | $7470 | 2.32% | $7445 | 2.31% | $7386 | 2.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial Banking | **2368** | **1.03** | 2509 | 1.10 | 2364 | 1.06 | 2443 | 1.09 | 2408 | 1.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate and Investing Banking | **4470** | **1.54** | 4444 | 1.58 | 4551 | 1.63 | 4573 | 1.67 | 4738 | 1.72 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth and Investment Management | **264** | **0.31** | 258 | 0.31 | 241 | 0.29 | 266 | 0.32 | 245 | 0.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate | **8** | **0.27** | 9 | 0.20 | 10 | 0.20 | 12 | 0.19 | 12 | 0.16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total allowance for credit losses for loans | $**14568** | **1.58%** | $14552 | 1.59% | $14636 | 1.60% | $14739 | 1.62% | $14789 | 1.61% |

---

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

------

Wells Fargo & Company and Subsidiaries

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

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Jun 30, 2025** | **Jun 30, 2025** | Mar 31, 2025 | Mar 31, 2025 | Dec 31, 2024 | Dec 31, 2024 | Sep 30, 2024 | Sep 30, 2024 | Jun 30, 2024 | Jun 30, 2024 | Jun 30, 2025 <br>$ Change from | Jun 30, 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 | Mar 31,<br>2025 | Jun 30,<br>2024 |
| By product: |  |  |  |  |  |  |  |  |  |  |  |  |
| Nonaccrual loans: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $**925** | **0.23%** | $969 | 0.25% | $763 | 0.20% | $743 | 0.20% | $754 | 0.20% | $(44) | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | **3556** | **2.68** | 3836 | 2.86 | 3771 | 2.76 | 4115 | 2.91 | 4321 | 2.97 | (280) | (765) |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease financing | **82** | **0.54** | 78 | 0.48 | 84 | 0.51 | 94 | 0.57 | 86 | 0.51 | 4 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | **4563** | **0.83** | 4883 | 0.90 | 4618 | 0.86 | 4952 | 0.93 | 5161 | 0.96 | (320) | (598) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage (1) | **3090** | **1.26** | 2982 | 1.20 | 2991 | 1.20 | 3086 | 1.22 | 3135 | 1.23 | 108 | (45) |
| &nbsp;&nbsp;&nbsp;&nbsp;Auto | **76** | **0.18** | 83 | 0.20 | 89 | 0.21 | 99 | 0.23 | 103 | 0.23 | (7) | (27) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other consumer | **28** | **0.09** | 30 | 0.10 | 32 | 0.11 | 35 | 0.12 | 35 | 0.12 | (2) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | **3194** | **0.85** | 3095 | 0.83 | 3112 | 0.82 | 3220 | 0.85 | 3273 | 0.86 | 99 | (79) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonaccrual loans | **7757** | **0.84** | 7978 | 0.87 | 7730 | 0.85 | 8172 | 0.90 | 8434 | 0.92 | (221) | (677) |
| Foreclosed assets | **207** |  | 247 |  | 206 |  | 212 |  | 216 |  | (40) | (9) |
| Total nonperforming assets | $**7964** | **0.86%** | $8225 | 0.90% | $7936 | 0.87% | $8384 | 0.92% | $8650 | 0.94% | $(261) | (686) |
| By segment: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer Banking and Lending | $**3054** | **0.97%** | $3011 | 0.95% | $3029 | 0.94% | $3144 | 0.97% | $3194 | 0.98% | $43 | (140) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial Banking | **1489** | **0.65** | 1536 | 0.67 | 1173 | 0.53 | 1120 | 0.50 | 980 | 0.43 | (47) | 509 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate and Investing Banking | **3132** | **1.08** | 3442 | 1.23 | 3508 | 1.26 | 3912 | 1.43 | 4265 | 1.55 | (310) | (1133) |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth and Investment Management | **289** | **0.34** | 236 | 0.28 | 226 | 0.27 | 208 | 0.25 | 211 | 0.25 | 53 | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate | **—** | **—** |  |  |  |  |  |  |  |  |  |  |
| Total nonperforming assets | $**7964** | **0.86%** | $8225 | 0.90% | $7936 | 0.87% | $8384 | 0.92% | $8650 | 0.94% | $(261) | (686) |

---

(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 – COMMERCIAL AND INDUSTRIAL LOANS AND LEASE FINANCING BY INDUSTRY AND COMMERCIAL REAL ESTATE LOANS BY PROPERTY TYPE**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Jun 30, 2025** | **Jun 30, 2025** | **Jun 30, 2025** | Mar 31, 2025 | Mar 31, 2025 | Mar 31, 2025 | Jun 30, 2024 | Jun 30, 2024 | Jun 30, 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:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Financials except banks | $**26** | **169977** | **275508** | 16 | 162485 | 260237 | 51 | 145269 | 231777 |
| &nbsp;&nbsp;&nbsp;Technology, telecom and media | **47** | **25053** | **62361** | 68 | 23259 | 60552 | 87 | 24661 | 61246 |
| &nbsp;&nbsp;&nbsp;Real estate and construction | **84** | **28421** | **58893** | 95 | 25411 | 54272 | 87 | 26090 | 54542 |
| &nbsp;&nbsp;&nbsp;Equipment, machinery and parts manufacturing | **30** | **25578** | **50479** | 31 | 25563 | 50572 | 37 | 25727 | 49539 |
| &nbsp;&nbsp;&nbsp;Retail | **153** | **18129** | **45153** | 268 | 18623 | 45408 | 53 | 19674 | 47691 |
| &nbsp;&nbsp;&nbsp;Food and beverage manufacturing | **10** | **17285** | **34365** | 9 | 16316 | 32215 | 22 | 16535 | 33390 |
| &nbsp;&nbsp;&nbsp;Materials and commodities | **147** | **14288** | **33560** | 119 | 14476 | 33883 | 28 | 14842 | 37380 |
| &nbsp;&nbsp;&nbsp;Auto related | **6** | **16647** | **31249** | 7 | 16505 | 31013 | 11 | 17224 | 30723 |
| &nbsp;&nbsp;&nbsp;Health care and pharmaceuticals | **72** | **14237** | **31205** | 62 | 13590 | 30564 | 66 | 14508 | 29647 |
| &nbsp;&nbsp;&nbsp;Oil, gas and pipelines | **3** | **9473** | **28892** | 3 | 10950 | 30638 | 26 | 10308 | 32284 |
| &nbsp;&nbsp;&nbsp;Diversified or miscellaneous | **74** | **11159** | **27328** | 10 | 10295 | 25897 | 56 | 8395 | 21908 |
| &nbsp;&nbsp;&nbsp;Commercial services | **77** | **11080** | **27115** | 88 | 11148 | 27462 | 33 | 10699 | 26288 |
| &nbsp;&nbsp;&nbsp;Utilities | **1** | **7465** | **26101** | 1 | 7030 | 25221 | 1 | 6839 | 24269 |
| &nbsp;&nbsp;&nbsp;Entertainment and recreation | **29** | **12790** | **19116** | 42 | 13786 | 24967 | 22 | 13040 | 19429 |
| &nbsp;&nbsp;&nbsp;Insurance and fiduciaries | **1** | **5509** | **17536** | 1 | 5456 | 16832 | 1 | 5749 | 17285 |
| &nbsp;&nbsp;&nbsp;Transportation services | **150** | **8449** | **15793** | 149 | 9418 | 16563 | 161 | 9407 | 16360 |
| &nbsp;&nbsp;&nbsp;Other | **97** | **21670** | **40264** | 78 | 22353 | 41502 | 98 | 22326 | 43757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial and industrial loans and lease financing | **1007** | **417210** | **824918** | 1047 | 406664 | 807798 | 840 | 391293 | 777515 |
| **Commercial real estate loans by property type (2):** | **Commercial real estate loans by property type (2):** | **Commercial real estate loans by property type (2):** | **Commercial real estate loans by property type (2):** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Apartments | **378** | **38910** | **43085** | 352 | 39537 | 43808 | 28 | 43048 | 49846 |
| &nbsp;&nbsp;&nbsp;Office | **2532** | **25219** | **26400** | 2897 | 26415 | 27611 | 3693 | 29704 | 31636 |
| &nbsp;&nbsp;&nbsp;Industrial/warehouse | **46** | **23485** | **25736** | 67 | 23286 | 25576 | 25 | 24877 | 27268 |
| &nbsp;&nbsp;&nbsp;Hotel/motel | **253** | **12005** | **12358** | 239 | 11606 | 12004 | 252 | 11601 | 12130 |
| &nbsp;&nbsp;&nbsp;Retail (excluding shopping center) | **104** | **11175** | **12056** | 145 | 11296 | 11915 | 114 | 11273 | 12197 |
| &nbsp;&nbsp;&nbsp;Shopping center | **60** | **7980** | **8414** | 97 | 7969 | 8404 | 165 | 8718 | 9256 |
| &nbsp;&nbsp;&nbsp;Institutional | **13** | **5105** | **5357** | 13 | 5095 | 5365 | 13 | 5555 | 5992 |
| &nbsp;&nbsp;&nbsp;Other | **170** | **8681** | **10594** | 26 | 8831 | 10959 | 31 | 10542 | 13433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial real estate loans | **3556** | **132560** | **144000** | 3836 | 134035 | 145642 | 4321 | 145318 | 161758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial loans | $**4563** | **549770** | **968918** | 4883 | 540699 | 953440 | 5161 | 536611 | 939273 |

---

(1)Total commitments consists 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)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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from |
| ($ in millions)  |  | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 |
| Tangible book value per common share: |  |  |  |  |  |  |  |  |
| Total equity |  | $**182954** | 182906 | 181066 | 185011 | 178148 | —% | 3 |
| Adjustments: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock |  | **(16608)** | (18608) | (18608) | (18608) | (16608) | 11 |  |
| &nbsp;&nbsp;Additional paid-in capital on preferred stock |  | **141** | 145 | 144 | 144 | 141 | (3) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests |  | **(1843)** | (1816) | (1946) | (1746) | (1718) | (1) | (7) |
| Total common stockholders' equity | (A) | **164644** | 162627 | 160656 | 164801 | 159963 | 1 | 3 |
| Adjustments: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill |  | **(25071)** | (25066) | (25167) | (25173) | (25172) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Certain identifiable intangible assets (other than MSRs) |  | **(902)** | (65) | (73) | (85) | (96) | NM | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) |  | **(674)** | (674) | (735) | (772) | (968) |  | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;Applicable deferred taxes related to goodwill and other intangible assets (1) |  | **1060** | 954 | 947 | 940 | 933 | 11 | 14 |
| **Tangible common equity** | (B) | $**139057** | 137776 | 135628 | 139711 | 134660 | 1 | 3 |
| Common shares outstanding | (C) | **3220.4** | 3261.7 | 3288.9 | 3345.5 | 3402.7 | (1) | (5) |
| Book value per common share | (A)/(C) | $**51.13** | 49.86 | 48.85 | 49.26 | 47.01 | 3 | 9 |
| Tangible book value per common share | (B)/(C) | **43.18** | 42.24 | 41.24 | 41.76 | 39.57 | 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 | Jun 30, 2025 % Change from | Jun 30, 2025 % Change from | Six months ended | Six months ended | |
| ($ in millions)  |  | **Jun 30,<br>2025** | Mar 31,<br>2025 | Dec 31,<br>2024 | Sep 30,<br>2024 | Jun 30,<br>2024 | Mar 31,<br>2025 | Jun 30,<br>2024 | **Jun 30,<br>2025** | Jun 30,<br>2024 | %<br>Change |
| Return on average tangible common equity: |  |  |  |  |  |  |  |  |  |  |  |
| Net income applicable to common stock | (A) | $**5214** | 4616 | 4801 | 4852 | 4640 | 13% | 12 | $**9830** | 8953 | 10% |
| Average total equity |  | **183268** | 183358 | 182933 | 184368 | 181552 |  | 1 | **183312** | 184111 |  |
| Adjustments: |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock  |  | **(18278)** | (18608) | (18608) | (18129) | (18300) | 2 |  | **(18442)** | (18795) | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital on preferred stock |  | **143** | 145 | 144 | 143 | 145 | (1) | (1) | **144** | 150 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests |  | **(1818)** | (1894) | (1803) | (1748) | (1743) | 4 | (4) | **(1856)** | (1727) | (7) |
| Average common stockholders' equity | (B) | **163315** | 163001 | 162666 | 164634 | 161654 |  | 1 | **163158** | 163739 |  |
| Adjustments: |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill |  | **(25070)** | (25135) | (25170) | (25172) | (25172) |  |  | **(25102)** | (25173) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Certain identifiable intangible assets (other than MSRs) |  | **(863)** | (69) | (78) | (89) | (101) | NM | NM | **(468)** | (106) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) |  | **(674)** | (734) | (772) | (965) | (965) | 8 | 30 | **(704)** | (922) | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;Applicable deferred taxes related to goodwill and other intangible assets (1) |  | **989** | 952 | 945 | 938 | 931 | 4 | 6 | **647** | 928 | (30) |
| **Average tangible common equity** | (C) | $**137697** | 138015 | 137591 | 139346 | 136347 |  | 1 | $**137531** | 138466 | (1) |
| Return on average common stockholders' equity (ROE) (annualized) | (A)/(B) | **12.8%** | 11.5 | 11.7 | 11.7 | 11.5 |  |  | **12.2%** | 11.0% |  |
| Return on average tangible common equity (ROTCE) (annualized) | (A)/(C) | **15.2** | 13.6 | 13.9 | 13.9 | 13.7 |  |  | **14.4** | 13.0 |  |

---

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)  |  | **Jun 30, 2025** | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 |
| Total equity  |  | $**183.0** | 182.9 | 181.1 | 185.0 | 178.1 |
| Adjustments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock |  | **(16.6)** | (18.6) | (18.6) | (18.6) | (16.6) |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital on preferred stock |  | **0.1** | 0.1 | 0.1 | 0.1 | 0.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests |  | **(1.9)** | (1.8) | (1.9) | (1.7) | (1.7) |
| Total common stockholders' equity |  | **164.6** | 162.6 | 160.7 | 164.8 | 160.0 |
| Adjustments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Goodwill |  | **(25.1)** | (25.1) | (25.2) | (25.2) | (25.2) |
| &nbsp;&nbsp;&nbsp;Certain identifiable intangible assets (other than MSRs) |  | **(0.9)** | (0.1) | (0.1) | (0.1) | (0.1) |
| &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) | (0.8) | (1.0) |
| &nbsp;&nbsp;&nbsp;Applicable deferred taxes related to goodwill and other intangible assets (2) |  | **1.1** | 1.0 | 0.9 | 0.9 | 0.9 |
| &nbsp;&nbsp;&nbsp;Other |  | **(2.6)** | (2.1) | (1.0) | (1.3) | (0.4) |
| Common Equity Tier 1 under the Standardized and Advanced Approaches | (A) | **136.4** | 135.6 | 134.6 | 138.3 | 134.2 |
| &nbsp;&nbsp;&nbsp;Preferred stock |  | **16.6** | 18.6 | 18.6 | 18.6 | 16.6 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital on preferred stock |  | **(0.1)** | (0.1) | (0.1) | (0.1) | (0.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other |  | **(0.2)** | (0.2) | (0.2) | (0.2) | (0.1) |
| Total Tier 1 capital under the Standardized and Advanced Approaches | (B) | **152.7** | 153.9 | 152.9 | 156.6 | 150.5 |
| &nbsp;&nbsp;&nbsp;Long-term debt and other instruments qualifying as Tier 2 |  | **17.3** | 17.6 | 17.6 | 17.7 | 18.3 |
| &nbsp;&nbsp;&nbsp;Qualifying allowance for credit losses (3) |  | **14.6** | 14.4 | 14.5 | 14.6 | 14.7 |
| &nbsp;&nbsp;&nbsp;Other |  | **(0.4)** | (0.4) | (0.3) | (0.4) | (0.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Tier 2 capital under the Standardized Approach | (C) | **31.5** | 31.6 | 31.8 | 31.9 | 32.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total qualifying capital under the Standardized Approach | (B)+(C) | $**184.2** | 185.5 | 184.7 | 188.5 | 183.2 |
| &nbsp;&nbsp;&nbsp;Long-term debt and other instruments qualifying as Tier 2 |  | **17.3** | 17.6 | 17.6 | 17.7 | 18.3 |
| &nbsp;&nbsp;&nbsp;Qualifying allowance for credit losses (3) |  | **4.3** | 4.3 | 4.3 | 4.3 | 4.4 |
| &nbsp;&nbsp;&nbsp;Other |  | **(0.4)** | (0.4) | (0.3) | (0.4) | (0.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Tier 2 capital under the Advanced Approach | (D) | **21.2** | 21.5 | 21.6 | 21.6 | 22.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total qualifying capital under the Advanced Approach | (B)+(D) | $**173.9** | 175.4 | 174.5 | 178.2 | 172.9 |
| Total risk-weighted assets (RWAs) under the Standardized Approach | (E) | $**1227.1** | 1222.0 | 1216.1 | 1219.9 | 1219.5 |
| Total RWAs under the Advanced Approach | (F) | $**1074.0** | 1063.6 | 1085.0 | 1089.3 | 1093.0 |
| **Ratios under the Standardized Approach:** |  |  |  |  |  |  |
| Common Equity Tier 1 | (A)/(E) | **11.1%** | 11.1 | 11.1 | 11.3 | 11.0 |
| Tier 1 capital | (B)/(E) | **12.4** | 12.6 | 12.6 | 12.8 | 12.3 |
| Total capital | (B)+(C)/(E) | **15.0** | 15.2 | 15.2 | 15.5 | 15.0 |
| **Ratios under the Advanced Approach:** |  |  |  |  |  |  |
| Common Equity Tier 1 | (A)/(F) | **12.7%** | 12.7 | 12.4 | 12.7 | 12.3 |
| Tier 1 capital | (B)/(F) | **14.2** | 14.5 | 14.1 | 14.4 | 13.8 |
| Total capital | (B)+(D)/(F) | **16.2** | 16.5 | 16.1 | 16.4 | 15.8 |

---

(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.

## Exhibit 99.3

![](ex993-wellsfargo2q25pres001.jpg)© 2025 Wells Fargo Bank, N.A. All rights reserved. 2Q25 Financial Results July 15, 2025 Exhibit 99.3

------

![](ex993-wellsfargo2q25pres002.jpg)

22Q25 Financial Results 2Q25 results Financial Results ROE: 12.8% ROTCE: 15.2%1 Efficiency ratio: 64%2 Credit Quality Capital and Liquidity CET1 ratio: 11.1%5 LCR: 121%6 TLAC ratio: 24.4%7 • Provision for credit losses4 of $1.0 billion – Total net loan charge-offs of $1.0 billion, down $304 million, with net loan charge-offs of 0.44% of average loans (annualized) – Allowance for credit losses for loans of $14.6 billion, down 1% • Common Equity Tier 1 (CET1) capital5 of $136.4 billion • CET1 ratio5 of 11.1% under the Standardized Approach • Liquidity coverage ratio (LCR)6 of 121% • Net income of $5.5 billion, or $1.60 per diluted common share, included: – $253 million, or $0.06 per share, gain associated with our acquisition of the remaining interest in our merchant services joint venture • Revenue of $20.8 billion, up 1% – Net interest income of $11.7 billion, down 2% – Noninterest income of $9.1 billion, up 4% • Noninterest expense of $13.4 billion, up 1% • Pre-tax pre-provision profit3 of $7.4 billion, up 1% • Effective income tax rate of 14.3% • Average loans of $916.7 billion, stable • Average deposits of $1.3 trillion, down 1% Comparisons in the bullet points are for 2Q25 versus 2Q24, unless otherwise noted. Endnotes are presented starting on page 17.

------

![](ex993-wellsfargo2q25pres003.jpg)

32Q25 Financial Results 2Q25 earnings Quarter ended $ Change from $ in millions, except per share data 2Q25 1Q25 2Q24 1Q25 2Q24 Net interest income $11,708 11,495 11,923 $213 (215) Noninterest income 9,114 8,654 8,766 460 348 Total revenue 20,822 20,149 20,689 673 133 Net charge-offs 997 1,009 1,303 (12) (306) Change in the allowance for credit losses 8 (77) (67) 85 75 Provision for credit losses1 1,005 932 1,236 73 (231) Noninterest expense 13,379 13,891 13,293 (512) 86 Pre-tax income 6,438 5,326 6,160 1,112 278 Income tax expense 916 522 1,251 394 (335) Effective income tax rate (%) 14.3 % 9.6 20.3 465 bps (601) Net income $5,494 4,894 4,910 $600 584 Diluted earnings per common share $1.60 1.39 1.33 $0.21 0.27 Diluted average common shares (# mm) 3,267.0 3,321.6 3,486.2 (55) (219) Return on equity (ROE) 12.8 % 11.5 11.5 132 bps 126 Return on average tangible common equity (ROTCE)2 15.2 13.6 13.7 162 150 Efficiency ratio 64 69 64 (469) — Endnotes are presented starting on page 17.

------

![](ex993-wellsfargo2q25pres004.jpg)

42Q25 Financial Results Net Interest Income ($ in millions) 11,923 11,690 11,836 11,495 11,708 Net Interest Margin (NIM) on a taxable-equivalent basis 2Q24 3Q24 4Q24 1Q25 2Q25 2.68% Net interest income • Net interest income down $215 million, or 2%, from 2Q24 driven by the impact of lower interest rates on floating rate assets and the impact of deposit mix changes, partially offset by lower market funding and lower deposit costs • Net interest income up $213 million, or 2%, from 1Q25 driven by lower deposit costs, one additional day in the quarter, a higher securities yield, and higher loan balances, partially offset by lower deposit balances 2.75% 2.67% 2.70% 2.67% 1 Endnotes are presented starting on page 17.

------

![](ex993-wellsfargo2q25pres005.jpg)

52Q25 Financial Results Loans and deposits • Average loans down $258 million year-over-year (YoY) as declines in commercial real estate and residential mortgage loans were largely offset by higher commercial and industrial loans; up $8.5 billion, or 1%, from 1Q25 driven by commercial and industrial loan growth • Total average loan yield of 5.95%, down 45 bps YoY reflecting the impact of lower interest rates • Period-end loans up $6.5 billion YoY and up $10.6 billion from 1Q25 • Average deposits down $14.8 billion, or 1%, YoY driven by a reduction in higher cost CDs issued by Corporate Treasury; down $7.6 billion, or 1%, from 1Q25 • Period-end deposits down $25.2 billion YoY and down $21.0 billion from 1Q25 Average Loans Outstanding ($ in billions) 917.0 910.3 906.4 908.2 916.7 534.8 530.6 528.3 533.2 543.3 382.2 379.7 378.1 375.0 373.4 Total Average Loan Yield Consumer Loans Commercial Loans 2Q24 3Q24 4Q24 1Q25 2Q25 6.40% 6.41% 6.16% 5.96% 5.95% Period-End Deposits ($ in billions) 2Q25 vs 1Q25 vs 2Q24 Consumer Banking and Lending $781.0 (2) % — % Commercial Banking 179.9 (1) 6 Corporate and Investment Banking 208.0 (1) 4 Wealth and Investment Management 122.9 (1) 19 Corporate 48.9 3 (56) Total deposits $1,340.7 (2) % (2) % Average deposit cost 1.52 % (0.06) (0.32) 1,346.5 1,341.7 1,353.8 1,339.3 1,331.7 778.2 773.6 773.6 778.6 781.4 166.9 173.2 184.3 182.9 178.0 187.5 194.3 205.1 203.9 202.4 102.8 108.0 118.3 123.4 123.6 111.1 92.6 72.5 Corporate Wealth and Investment Management Corporate and Investment Banking Commercial Banking Consumer Banking and Lending 2Q24 3Q24 4Q24 1Q25 2Q25 Period-End Loans Outstanding ($ in billions) 2Q25 vs 1Q25 vs 2Q24 Commercial $549.8 2 % 2 % Consumer 374.6 — (2) Total loans $924.4 1 % 1 % Average Deposits ($ in billions) 46.350.5

------

![](ex993-wellsfargo2q25pres006.jpg)

62Q25 Financial Results 8,766 8,676 8,542 8,654 9,114 935 686 957 655 1,244 1,101 1,096 1,084 1,044 1,173 641 672 725 775 696 1,442 1,438 950 1,373 1,270 1,618 1,675 1,625 1,633 1,622 3,029 3,109 3,201 3,174 3,109 Investment advisory fees and brokerage commissions Deposit and lending-related fees Net gains from trading activities Investment banking fees Card fees All other 2Q24 3Q24 4Q24 1Q25 2Q25 Noninterest Income ($ in millions) • Noninterest income up $348 million, or 4%, from 2Q24 – Investment advisory fees and brokerage commissions1 up $80 million, or 3%, driven by higher asset-based fees reflecting higher market valuations – Net gains from trading activities down $172 million, or 12%, driven by lower revenue in equities as 2Q24 included a $122 million gain related to an exchange of shares of Visa Inc. Class B common stock, partially offset by higher revenue in foreign exchange and rates products – Investment banking fees up $55 million, or 9%, and included higher advisory fees – Card fees2 up $72 million, or 7%, on higher merchant processing revenue following our acquisition of the remaining interest in our merchant services joint venture – All other3 up $309 million and included a $253 million gain associated with the merchant services joint venture acquisition • Noninterest income up $460 million, or 5%, from 1Q25 – Net gains from trading activities down $103 million, or 8%, on lower revenue in commodities, equities, and structured products, partially offset by higher revenue in foreign exchange – Investment banking fees down $79 million, or 10%, on lower debt capital markets fees – Card fees2 up $129 million, or 12%, on higher merchant processing revenue, as well as higher debit card interchange income – All other3 up $589 million and included: ◦ $462 million higher net gains from equity securities driven by higher results from our venture capital investments ◦ $147 million higher net gains from debt securities from a 1Q25 that included a repositioning Noninterest income 3 1 Endnotes are presented starting on page 17. 2

------

![](ex993-wellsfargo2q25pres007.jpg)

72Q25 Financial Results 13,293 13,067 13,900 13,891 13,379 4,225 4,183 4,491 4,274 4,359 8,575 8,591 8,424 9,474 8,709 Operating Losses Personnel Expense Non-personnel Expense 2Q24 3Q24 4Q24 1Q25 2Q25 Noninterest expense • Noninterest expense up $86 million, or 1%, from 2Q24 – Operating losses down $182 million on lower customer remediation expense and litigation accruals – Personnel expense up $134 million on higher revenue-related compensation expense predominantly in Wealth and Investment Management and also included $77 million for a special award to employees, partially offset by the impact of efficiency initiatives – Non-personnel expense up $134 million, or 3%, and included higher technology and equipment expense and higher advertising and promotion expense, partially offset by the impact of efficiency initiatives and lower Federal Deposit Insurance Corporation (FDIC) assessment expense • Noninterest expense down $512 million, or 4%, from 1Q25 – Operating losses up $168 million predominantly on higher litigation accruals – Personnel expense down $765 million on seasonally higher personnel expense in 1Q, as well as the impact of efficiency initiatives – Non-personnel expense up $85 million, or 2%, and included higher advertising and promotion expense, partially offset by the impact of efficiency initiatives Noninterest Expense ($ in millions) Headcount (Period-end, '000s) 2Q24 3Q24 4Q24 1Q25 2Q25 223 220 218 215 213 143338 293493 Endnotes are presented starting on page 17. 6471 1 311

------

![](ex993-wellsfargo2q25pres008.jpg)

82Q25 Financial Results 1,236 1,065 1,095 932 1,005 1,301 1,111 1,211 1,009 997 Provision for Credit Losses Net Loan Charge-offs Net Loan Charge-off Ratio 2Q24 3Q24 4Q24 1Q25 2Q25 Credit quality: net loan charge-offs • Commercial net loan charge-offs up $36 million to 18 bps of average loans (annualized) as $71 million higher commercial and industrial net loan charge-offs were partially offset by a $34 million decrease in commercial real estate (CRE) net loan charge-offs – CRE net loan charge-offs of $61 million, or 18 bps of average loans (annualized), predominantly driven by CRE office net loan charge-offs • Consumer net loan charge-offs down $48 million to 81 bps of average loans (annualized) on lower auto and credit card net loan charge-offs • Nonperforming assets of $8.0 billion, down $261 million, or 3%, driven by a decline in commercial real estate nonaccrual loans Provision for Credit Losses1 and Net Loan Charge-offs ($ in millions) Comparisons in the bullet points are for 2Q25 versus 1Q25. Endnotes are presented starting on page 17. 0.57% 0.49% 0.45% 0.53% 1 0.44%

------

![](ex993-wellsfargo2q25pres009.jpg)

92Q25 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 $16 million – Allowance coverage for total loans down 3 bps from 2Q24 and down 1 bp from 1Q25 • CRE office ACL of $2.0 billion, down $105 million largely reflecting net loan charge-offs – CRE office ACL as a % of loans of 7.9%, stable with 1Q25 ◦ Corporate and Investment Banking (CIB) CRE office ACL as a % of loans of 11.1%, down modestly from 11.2% • CRE nonaccrual loans of $3.6 billion, down $280 million, or 7%, and included a $365 million decrease in CRE office nonaccrual loans as payoffs/paydowns outpaced migration to nonaccrual loans 14,789 14,739 14,636 14,552 14,568 8,236 8,092 7,946 7,930 7,835 6,553 6,647 6,690 6,622 6,733 Commercial Consumer Allowance coverage for total loans 2Q24 3Q24 4Q24 1Q25 2Q25 1.62%1.61% 1.60% 1.59% 1.58% 1 CRE Allowance for Credit Losses (ACL) and Nonaccrual Loans, as of 6/30/25 ($ in millions) Allowance for Credit Losses Loans Outstanding ACL as a % of Loans Nonaccrual Loans CIB CRE Office $1,749 15,767 11.1% $2,360 All other CRE Office 240 9,452 2.5 172 Total CRE Office 1,989 25,219 7.9 2,532 All other CRE 1,328 107,341 1.2 1,024 Total CRE $3,317 132,560 2.5% $3,556 Comparisons in the bullet points are for 2Q25 versus 1Q25, unless otherwise noted.

------

![](ex993-wellsfargo2q25pres010.jpg)

102Q25 Financial Results Capital and liquidity Capital Position • Common Equity Tier 1 (CET1) ratio1 of 11.1% at June 30, 2025 • CET1 ratio up 11 bps from 2Q24 and up 3 bps from 1Q25 – The Company's stress capital buffer (SCB) is expected to decrease to 2.5%, down 120 bps from our current SCB of 3.7%3 ◦ The Federal Reserve Board has a pending notice of proposed rulemaking that, if finalized as proposed, would result in the Company's expected SCB being 2.6% Capital Return • $3.0 billion in gross common stock repurchases, or 43.9 million shares, in 2Q25; period-end common shares outstanding down 182.3 million, or 5%, from 2Q24 • 2Q25 common stock dividend of $0.40 per share with $1.3 billion in common stock dividends paid • We expect to increase our 3Q25 common stock dividend to $0.45 per share, subject to approval by the Company's Board of Directors at its regularly scheduled meeting in July Total Loss Absorbing Capacity (TLAC) • As of June 30, 2025, our TLAC as a percentage of total risk-weighted assets4 was 24.4% compared with the required minimum of 21.5% Liquidity Position • Strong liquidity position with a 2Q25 LCR5 of 121% which remained above our regulatory minimum of 100% 11.0% 11.3% 11.1% 11.1% 11.1% 2Q24 3Q24 4Q24 1Q25 2Q25 Estimated 9.7% Regulatory Minimum and Buffers2 Common Equity Tier 1 Ratio under the Standardized Approach1 Endnotes are presented starting on page 17.

------

![](ex993-wellsfargo2q25pres011.jpg)

112Q25 Financial Results • Total revenue up 2% YoY and up 4% from 1Q25 – CSBB up 3% YoY driven by higher net interest income; up 5% from 1Q25 on higher net interest income and seasonally higher debit card interchange income – Home Lending down 5% from 1Q25 predominantly reflecting lower mortgage servicing income resulting from portfolio run-off and sales – Credit Card up 9% YoY on higher loan balances – Auto down 15% YoY driven by lower loan balances and loan spread compression – Personal Lending down 9% YoY driven by lower loan balances • Noninterest expense up 2% YoY reflecting higher branch personnel and advertising expense, partially offset by lower operating losses and the impact of efficiency initiatives; down 2% from 1Q25 on lower personnel expense reflecting 1Q seasonality Consumer Banking and Lending (CBL) Summary Financials $ in millions (mm) 2Q25 vs. 1Q25 vs. 2Q24 Revenue by line of business: Consumer, Small and Business Banking (CSBB) $6,288 $307 159 Consumer Lending: Home Lending 821 (45) (2) Credit Card 1,588 64 136 Auto 241 4 (41) Personal Lending 290 (15) (30) Total revenue 9,228 315 222 Provision for credit losses 945 206 13 Noninterest expense 5,799 (129) 98 Pre-tax income 2,484 238 111 Net income $1,863 $174 86 Selected Metrics and Average Balances $ in billions 2Q25 1Q25 2Q24 Return on allocated capital1 15.9 % 14.5 15.1 Efficiency ratio2 63 67 63 Average loans $315.4 318.1 325.9 Average deposits 781.4 778.6 778.2 Retail bank branches (#, period-end) 4,135 4,155 4,227 Mobile active customers3 (# in mm, period-end) 32.1 31.8 30.8 Other Selected Metrics $ in billions 2Q25 1Q25 2Q24 Debit card purchase volume4 $133.6 126.0 128.2 Average Home Lending loans 203.6 205.5 212.0 Mortgage loan originations 7.4 4.4 5.3 Average Credit Card loans 49.9 50.1 47.5 Credit Card purchase volume4 46.4 42.5 42.9 Credit Card new accounts (# in thousands) 643 554 677 Average Auto loans $42.4 42.5 45.7 Auto loan originations 6.9 4.6 3.7 Endnotes are presented starting on page 17.

------

![](ex993-wellsfargo2q25pres012.jpg)

122Q25 Financial Results Commercial Banking (CB) • Total revenue down 6% YoY and up modestly from 1Q25 – Net interest income down 13% YoY driven by the impact of lower interest rates, partially offset by lower deposit pricing and higher deposit and loan balances – Noninterest income up 13% YoY on higher revenue from tax credit investments and higher treasury management fees • Noninterest expense up 1% YoY as higher operating costs were partially offset by lower personnel expense reflecting the impact of efficiency initiatives; down 9% from 1Q25 driven by lower personnel expense reflecting 1Q seasonality Summary Financials $ in millions 2Q25 vs. 1Q25 vs. 2Q24 Net interest income $1,983 $6 (298) Noninterest income 950 2 109 Total revenue 2,933 8 (189) Provision for credit losses (43) (230) (72) Noninterest expense 1,519 (151) 13 Pre-tax income 1,457 389 (130) Net income $1,086 $292 (96) Selected Metrics 2Q25 1Q25 2Q24 Return on allocated capital 15.8 % 11.4 17.3 Efficiency ratio 52 57 48 Average balances ($ in billions) Loans $226.5 223.8 224.4 Deposits 178.0 182.9 166.9

------

![](ex993-wellsfargo2q25pres013.jpg)

132Q25 Financial Results Corporate and Investment Banking (CIB) • Total revenue down 3% YoY and down 8% from 1Q25 – Banking revenue down 7% YoY driven by the impact of lower interest rates, partially offset by lower deposit pricing and higher investment banking revenue including higher advisory fees – Commercial Real Estate revenue down 16% from 1Q25 which included a $253 million gain on the sale of our non-agency third party servicing business in 1Q25, as well as lower mortgage servicing income resulting from the 1Q25 sale – Markets revenue down 1% YoY driven by lower revenue in equities as 2Q24 included a $122 million gain related to an exchange of shares of Visa Inc. Class B common stock, partially offset by higher revenue in foreign exchange and rates products; down 3% from 1Q25 on lower activity in structured products, credit products, and equities • Noninterest expense up 4% YoY driven by higher incentive compensation expense and operating costs, partially offset by the impact of efficiency initiatives; down 9% from 1Q25 driven by lower personnel expense reflecting 1Q seasonality Summary Financials $ in millions 2Q25 vs. 1Q25 vs. 2Q24 Revenue by line of business: Banking: Lending $601 ($17) (87) Treasury Management and Payments 611 (7) (76) Investment Banking 463 (71) 33 Total Banking 1,675 (95) (130) Commercial Real Estate 1,212 (237) (71) Markets: Fixed Income, Currencies and Commodities (FICC) 1,391 9 163 Equities 387 (61) (171) Credit Adjustment (CVA/DVA/FVA) and Other 1 4 (6) Total Markets 1,779 (48) (14) Other 7 (11) 50 Total revenue 4,673 (391) (165) Provision for credit losses 103 103 (182) Noninterest expense 2,251 (225) 81 Pre-tax income 2,319 (269) (64) Net income $1,737 ($204) (48) Selected Metrics 2Q25 1Q25 2Q24 Return on allocated capital 14.9 % 17.0 15.4 Efficiency ratio 48 49 45 Average Balances ($ in billions) Loans by line of business 2Q25 1Q25 2Q24 Banking $89.0 86.5 86.1 Commercial Real Estate 117.9 117.3 128.1 Markets 79.0 73.4 61.6 Total loans $285.9 277.2 275.8 Deposits 202.4 203.9 187.5 Trading-related assets 274.6 268.3 219.5

------

![](ex993-wellsfargo2q25pres014.jpg)

142Q25 Financial Results Wealth and Investment Management (WIM) Summary Financials $ in millions 2Q25 vs. 1Q25 vs. 2Q24 Net interest income $891 $65 (15) Noninterest income 3,007 (41) 55 Total revenue 3,898 24 40 Provision for credit losses 12 1 26 Noninterest expense 3,245 (115) 52 Pre-tax income 641 138 (38) Net income $480 $88 (4) Selected Metrics $ in billions 2Q25 1Q25 2Q24 Return on allocated capital 28.7 % 23.6 29.0 Efficiency ratio 83 87 83 Average loans $84.9 84.3 83.2 Average deposits 123.6 123.4 102.8 Client assets Advisory assets 1,042 980 945 Other brokerage assets and deposits 1,304 1,253 1,255 Total client assets $2,346 2,233 2,200 • Total revenue up 1% YoY and up 1% from 1Q25 – Net interest income down 2% YoY driven by the impact of lower interest rates, partially offset by higher deposit and loan balances; up 8% from 1Q25 driven by lower deposit costs – Noninterest income up 2% YoY on higher asset-based fees driven by an increase in market valuations; down 1% from 1Q25 driven by lower asset- based fees on lower market valuations, as well as lower retail brokerage commissions on lower transactional activity • Noninterest expense up 2% YoY on higher revenue-related compensation, partially offset by lower operating losses and the impact of efficiency initiatives; down 3% from 1Q25 on lower personnel expense reflecting 1Q seasonality

------

![](ex993-wellsfargo2q25pres015.jpg)

152Q25 Financial Results Corporate • Revenue increased YoY reflecting the $253 million gain associated with our acquisition of the remaining interest in our merchant services joint venture • Noninterest expense down YoY reflecting lower FDIC assessment expense and lower professional and outside services expense Summary Financials $ in millions 2Q25 vs. 1Q25 vs. 2Q24 Net interest income ($103) ($139) 41 Noninterest income 662 875 270 Total revenue 559 736 311 Provision for credit losses (12) (7) (16) Noninterest expense 565 108 (158) Pre-tax income 6 635 485 Income tax benefit (348) 267 (191) Less: Net income from noncontrolling interests 26 118 30 Net income $328 $250 646

------

![](ex993-wellsfargo2q25pres016.jpg)

162Q25 Financial Results Outlook Expect 2025 net interest income (NII) to be roughly in line with 2024 NII of $47.7 billion • The largest driver of the change from our prior guidance is lower NII in our Markets business (largely offset by higher noninterest income) • 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; and loan demand Net Interest Income Noninterest Expense Expect 2025 noninterest expense to be ~$54.2 billion, unchanged from prior guidance

------

![](ex993-wellsfargo2q25pres017.jpg)

172Q25 Financial Results Endnotes Page 2 – 2Q25 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 19. 2. The efficiency ratio is noninterest expense divided by total revenue (net interest income and noninterest income). 3. 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. 4. Includes provision for credit losses for loans, debt securities, and other financial assets. 5. The Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach is our binding CET1 ratio. See page 20 for additional information regarding CET1 capital and ratios. CET1 for June 30, 2025, is a preliminary estimate. 6. 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 June 30, 2025, is a preliminary estimate. 7. 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 June 30, 2025, is a preliminary estimate. Page 3 – 2Q25 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 19. Page 4 – Net interest income 1. Includes taxable-equivalent adjustments predominantly related to tax-exempt income on certain loans and securities. Page 6 – 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 losses from debt securities, net gains (losses) from equity securities, lease income, and other. Page 7 – Noninterest expense 1. 4Q24 total personnel expense of $9.1 billion included $647 million of severance expense.

------

![](ex993-wellsfargo2q25pres018.jpg)

182Q25 Financial Results Page 8 – Credit quality: net loan charge-offs 1. Includes provision for credit losses for loans, debt securities, and other financial assets. Page 10 – Capital and liquidity 1. The Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach is our binding CET1 ratio. See page 20 for additional information regarding CET1 capital and ratios. 2Q25 CET1 is a preliminary estimate. 2. Includes a 4.50% minimum requirement, a stress capital buffer (SCB) of 3.70%, and a G-SIB capital surcharge of 1.50%. 3. The Federal Reserve Board (FRB) revised our current SCB to 3.70%, down from 3.80%, effective immediately, due to the correction of modest errors in the FRB's loss projections related to corporate and first lien mortgage loans in the 2024 stress test results. 4. 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. 5. 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. 2Q25 LCR is a preliminary estimate. Page 11 – 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. 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. 4. Reflects combined activity for consumer and small business customers. Endnotes (continued)

------

![](ex993-wellsfargo2q25pres019.jpg)

192Q25 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 ($ in millions) Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Return on average tangible common equity: Net income applicable to common stock (A) $5,214 4,616 4,801 4,852 4,640 Average total equity 183,268 183,358 182,933 184,368 181,552 Adjustments: Preferred stock (18,278) (18,608) (18,608) (18,129) (18,300) Additional paid-in capital on preferred stock 143 145 144 143 145 Noncontrolling interests (1,818) (1,894) (1,803) (1,748) (1,743) Average common stockholders' equity (B) 163,315 163,001 162,666 164,634 161,654 Adjustments: Goodwill (25,070) (25,135) (25,170) (25,172) (25,172) Certain identifiable intangible assets (other than MSRs) (863) (69) (78) (89) (101) Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) (674) (734) (772) (965) (965) Applicable deferred taxes related to goodwill and other intangible assets1 989 952 945 938 931 Average tangible common equity (C) $137,697 138,015 137,591 139,346 136,347 Return on average common stockholders' equity (ROE) (annualized) (A)/(B) 12.8 % 11.5 11.7 11.7 11.5 Return on average tangible common equity (ROTCE) (annualized) (A)/(C) 15.2 13.6 13.9 13.9 13.7 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-wellsfargo2q25pres020.jpg)

202Q25 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) Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Total equity $183.0 182.9 181.1 185.0 178.1 Adjustments: Preferred stock (16.6) (18.6) (18.6) (18.6) (16.6) Additional paid-in capital on preferred stock 0.1 0.1 0.1 0.1 0.2 Noncontrolling interests (1.9) (1.8) (1.9) (1.7) (1.7) Total common stockholders' equity 164.6 162.6 160.7 164.8 160.0 Adjustments: Goodwill (25.1) (25.1) (25.2) (25.2) (25.2) Certain identifiable intangible assets (other than MSRs) (0.9) (0.1) (0.1) (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) (0.8) (1.0) Applicable deferred taxes related to goodwill and other intangible assets2 1.1 1.0 0.9 0.9 0.9 Other (2.6) (2.1) (1.0) (1.3) (0.4) Common Equity Tier 1 (A) $136.4 135.6 134.6 138.3 134.2 Total risk-weighted assets (RWAs) under the Standardized Approach (B) 1,227.1 1,222.0 1,216.1 1,219.9 1,219.5 Total RWAs under the Advanced Approach (C) 1,074.0 1,063.6 1,085.0 1,089.3 1,093.0 Common Equity Tier 1 to total RWAs under the Standardized Approach (A)/(B) 11.1 % 11.1 11.1 11.3 11.0 Common Equity Tier 1 to total RWAs under the Advanced Approach (A)/(C) 12.7 12.7 12.4 12.7 12.3

------

![](ex993-wellsfargo2q25pres021.jpg)

212Q25 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 Quarterly Report on Form 10-Q for the quarter ended June 30, 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) environmental, social 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 second 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.

------