Climate Disclosure - Wells Fargo

Climate Report

Published August 2024

Table of contents

3

Message from the Chief Executive Officer

4

Introduction

8

Governance

15 Strategy

36 Risk management

44 Metrics and targets

55 Future plans

56 Disclaimer and forward-looking statements

59 Appendix

Table of contents

Governance

Strategy

Risk management

Metrics and targets

Message from the Chief Executive Officer

Wells Fargo¡¯s Climate Report captures our continued evolution and approach to supporting our clients¡¯ climate and transition-related

activities, building our internal capabilities, and managing risks associated with climate change.

We recognize that we have an important role to play in meeting the changing needs of our customers, clients, and communities in the

transition to a lower-carbon economy. However, we know that we cannot facilitate this transition alone. The complex solutions needed

require action from governments, businesses, communities, and individuals; it will also require policy measures, technological

advancements, and behavioral changes

In this report, I invite you to learn about our ongoing activities and overarching approach to our part in helping to address climate-related

risk and finding opportunities in the transition to a low-carbon and sustainable future.

Charlie Scharf

Chief Executive Officer

Wells Fargo & Company

3

Table of contents

Governance

Strategy

Risk management

Metrics and targets

1

Introduction

5 About Wells Fargo

6 Our climate focus and objectives

1

References to publicly available websites are provided herein for your convenience. Unless otherwise noted, Wells Fargo does not control the websites and does not endorse and is not responsible for the content, links, privacy policies, or the security policies of such websites.

For other disclaimers regarding the nature of the content contained in this document, please see our Disclaimer and Forward-Looking Statements section of this report.

4

Table of contents

Governance

Strategy

Risk management

Metrics and targets

About Wells Fargo

Wells Fargo & Company is a leading financial

services company that has approximately

$1.9 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 and Investment

Management. Wells Fargo ranked No. 34 on

Fortune¡¯s 2024 rankings of America¡¯s largest

corporations. We ranked fourth in assets and

third in the market value of our common stock

among all U.S. banks at December 31, 2023.

Cautionary notes: This document contains

forward-looking statements about our business,

including discussion of the Company¡¯s plans,

objectives and strategies, and expectations for

our operations and business related to our

environmental, social, and governance activities.

For additional information, including about factors

that could cause actual results to differ materially

from our expectations, refer to the Disclaimer and

Forward-Looking Statements section of this

document and 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, 2023, as filed with the Securities

and Exchange Commission and available on its

website at . Data herein is as of

December 31, 2023, unless otherwise indicated.

5

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