wfc-20260114

Exhibit 99.1


			News Release \| January 14, 2026 Wells Fargo Reports Fourth Quarter 2025 Net Income of $5.4 billion, or $1.62 per Diluted Share Net income, excluding a notable item, of $5.8 billion, or $1.76 per diluted share1


Company-wide Financial Summary

		Quarter ended
		Dec 31, 2025			Dec 31, 2024
Selected Income Statement Data ($ in millions except per share amounts)
	Total revenue	$	21,292		20,378
	Noninterest expense	13,726			13,900
	Provision for credit losses2	1,040			1,095
	Net income	5,361			5,079
	Diluted earnings per common share	1.62			1.43
Selected Balance Sheet Data ($ in billions)
	Average loans	$	955.8		906.4
	Average deposits	1,377.7			1,353.8
	CET13	10.6		%	11.1
Performance Metrics
	ROE4	12.3		%	11.7
	ROTCE5	14.5			13.9


Operating Segments and Other Highlights

	Quarter ended		Dec 31, 2025 % Change from
($ in billions)	Dec 31, 2025			Sep 30, 2025		Dec 31, 2024
Average loans
Consumer Banking and Lending (CBL)6	$	329.3		1	%	2
Commercial Banking (CB)6	224.0			2		1
Corporate and Investment Banking	312.9			6		14
Wealth and Investment Management	88.7			3		6
Average deposits
Consumer Banking and Lending6	778.6			—		1
Commercial Banking6	181.0			5		(2)
Corporate and Investment Banking	214.5			5		5
Wealth and Investment Management	134.5			6		14

Capital

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


Fourth quarter 2025 notable item:

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


Chairman and Chief Executive Officer Charlie Scharf commented, “Strong financial performance, removal of the asset cap imposed by the Federal Reserve, termination of multiple consent orders, and stronger growth in both our consumer and commercial businesses make me proud of our 2025 results. We achieved our prior ROTCE5 target of 15% and have set a new medium-term target of 17-18%. As compared to full year 2024, diluted earnings per share grew 17%, fee-based income grew 5%, credit performance was strong as net charge-offs declined by 16%, and expenses grew less than 1%. We continued to operate with significant excess capital while returning $23 billion to shareholders through $18 billion in common stock repurchases and increasing our dividend per common share by 13% in 2025. We have worked hard to balance short-term performance and investing for long-term success. We have funded significant increased investments in infrastructure and business growth by driving greater savings from efficiencies across the company. Over the past 5 years, gross expense reductions of $15 billion have allowed us to make these investments while reducing the total expense base.” “Evidence of increased growth can be seen across the company. In our consumer businesses, credit card continues to see strong increases in spend and new accounts grew over 20% from a year ago. Auto lending returned to growth with balances up 19% from the prior year. Net checking account growth was stronger and deposits and investment balances in our affluent offering – Wells Fargo Premier® – grew 14% from the prior year. Advisory fees in our Wealth and Investment Management business grew 8%. In our commercial businesses, loans grew 12%. Investment banking fees increased 14%. We grew investment banking market share and our M&A ranking increased from 12 to 8,” Scharf added. “We have built a strong foundation and have made great progress in improving growth and returns though we have operated with significant constraints. We are excited to now compete on a level playing field and are able to dedicate even more resources to growth with the ability to grow our balance sheet. The dedication and hard work of all those at Wells Fargo has positioned us to enter 2026 in a position of strength and we are excited by the momentum we have and opportunities in front of us,” Scharf concluded.


Endnotes are presented on page 9.

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

Selected Company-wide Financial Information


		Quarter ended					Dec 31, 2025 % Change from			Year ended
		Dec 31, 2025			Sep 30, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025			Dec 31, 2024
Earnings ($ in millions except per share amounts)
	Net interest income	$	12,331		11,950	11,836	3	%	4	$	47,484		47,676
	Noninterest income	8,961			9,486	8,542	(6)		5	36,215			34,620
	Total revenue	21,292			21,436	20,378	(1)		4	83,699			82,296
	Net charge-offs	1,030			954	1,188	8		(13)	3,990			4,759
	Change in the allowance for credit losses	10			(273)	(93)	104		111	(332)			(425)
	Provision for credit losses1	1,040			681	1,095	53		(5)	3,658			4,334
	Noninterest expense	13,726			13,846	13,900	(1)		(1)	54,842			54,598
	Income tax expense	1,103			1,300	120	(15)		819	3,841			3,399

	Wells Fargo net income	$	5,361		5,589	5,079	(4)		6	$	21,338		19,722
	Diluted earnings per common share	1.62			1.66	1.43	(2)		13	6.26			5.37

Balance Sheet Data (average) ($ in billions)
	Loans	$	955.8		928.7	906.4	3		5	$	927.5		915.4
	Deposits	1,377.7			1,339.9	1,353.8	3		2	1,347.2			1,345.9
	Assets	2,079.8			2,010.2	1,918.5	3		8	1,986.3			1,916.7

Financial Ratios
	Return on assets (ROA)	1.02		%	1.10	1.05				1.07		%	1.03
	Return on equity (ROE)	12.3			12.8	11.7				12.4			11.4
	Return on average tangible common equity (ROTCE)2	14.5			15.2	13.9				14.6			13.4
	Efficiency ratio3	64			65	68				66			66
	Net interest margin on a taxable-equivalent basis	2.60			2.61	2.70				2.64			2.73

Fourth Quarter 2025 vs. Fourth Quarter 2024

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

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

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

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


Endnotes are presented on page 9.			2

Selected Company-wide Capital and Liquidity Information


					Quarter ended
($ in billions)		Dec 31, 2025			Sep 30, 2025	Dec 31, 2024
Capital:
	Total equity	$	183.0		183.0	181.1
	Common stockholders’ equity	164.7			164.7	160.7
	Tangible common equity1	139.2			139.1	135.6
	Common Equity Tier 1 (CET1) ratio2	10.6		%	11.0	11.1
	Total loss absorbing capacity (TLAC) ratio3	23.2			24.6	24.8
	Supplementary Leverage Ratio (SLR)4	6.2			6.4	6.7

Liquidity:
	Liquidity Coverage Ratio (LCR)5	119		%	121	125

Selected Company-wide Loan Credit Information


					Quarter ended
($ in millions)		Dec 31, 2025			Sep 30, 2025	Dec 31, 2024

Net loan charge-offs		$	1,046		942	1,211
	Net loan charge-offs as a % of average total loans (annualized)	0.43		%	0.40	0.53

Total nonaccrual loans		$	8,201		7,614	7,730
	As a % of total loans	0.83		%	0.81	0.85
Total nonperforming assets		$	8,503		7,832	7,936
	As a % of total loans	0.86		%	0.83	0.87

Allowance for credit losses for loans		$	14,337		14,311	14,636
	As a % of total loans	1.45		%	1.52	1.60

Fourth Quarter 2025 vs. Third Quarter 2025

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

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


Endnotes are presented on page 9.			3

Operating Segment Performance

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

Selected Financial Information


			Quarter ended				Dec 31, 2025 % Change from
			Dec 31, 2025		Sep 30, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024
Earnings (in millions)
	Consumer, Small and Business Banking		$	6,591	6,567	6,067	—	%	9
	Consumer Lending:
		Home Lending	807		870	854	(7)		(6)
		Credit Card	1,600		1,663	1,489	(4)		7
		Auto	282		256	263	10		7
		Personal Lending	291		294	307	(1)		(5)

	Total revenue		9,571		9,650	8,980	(1)		7
	Provision for credit losses		911		767	911	19		—
	Noninterest expense		5,820		5,968	5,925	(2)		(2)

	Net income		$	2,128	2,185	1,602	(3)		33

Average balances (in billions)
	Loans		$	329.3	325.3	321.4	1		2
	Deposits		778.6		781.3	773.6	—		1

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

Fourth Quarter 2025 vs. Fourth Quarter 2024

◦Revenue increased 7%

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

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

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

▪Auto was up 7% due to higher loan balances

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

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

Commercial Banking 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				Dec 31, 2025 % Change from
		Dec 31, 2025		Sep 30, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024
Earnings (in millions)
	Net interest income	$	1,993	1,949	2,248	2	%	(11)
	Noninterest income	1,086		1,092	923	(1)		18
	Total revenue	3,079		3,041	3,171	1		(3)
	Provision for credit losses	105		39	33	169		218
	Noninterest expense	1,443		1,445	1,525	—		(5)

	Net income	$	1,142	1,162	1,203	(2)		(5)

Average balances (in billions)
	Loans	$	224.0	219.4	221.8	2		1
	Deposits	181.0		172.0	184.3	5		(2)

Fourth Quarter 2025 vs. Fourth Quarter 2024

◦Revenue decreased 3%

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

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

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

Corporate and Investment Banking 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				Dec 31, 2025 % Change from
			Dec 31, 2025		Sep 30, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024
Earnings (in millions)
	Banking:
		Lending	$	656	647	691	1	%	(5)
		Treasury Management and Payments	648		630	644	3		1
		Investment Banking	457		554	491	(18)		(7)
	Total Banking		1,761		1,831	1,826	(4)		(4)
	Commercial Real Estate		1,236		1,186	1,274	4		(3)
	Markets:
		Fixed Income, Currencies, and Commodities (FICC)	1,164		1,355	1,179	(14)		(1)
		Equities	453		450	385	1		18
		Credit Adjustment (CVA/DVA/FVA) and Other	(15)		48	(71)	NM		79
	Total Markets		1,602		1,853	1,493	(14)		7
	Other		17		9	20	89		(15)
	Total revenue		4,616		4,879	4,613	(5)		—
	Provision for credit losses		78		(107)	205	173		(62)
	Noninterest expense		2,347		2,362	2,300	(1)		2

	Net income		$	1,639	1,966	1,580	(17)		4

Average balances (in billions)
	Loans		$	312.9	295.9	274.0	6		14
	Deposits		214.5		204.1	205.1	5		5

NM – Not meaningful

Fourth Quarter 2025 vs. Fourth Quarter 2024

◦Revenue was relatively flat

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

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

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

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

Wealth and Investment Management 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® and Intuitive Investor®.

Selected Financial Information


		Quarter ended				Dec 31, 2025 % Change from
		Dec 31, 2025		Sep 30, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024
Earnings (in millions)
	Net interest income	$	993	974	856	2	%	16
	Noninterest income	3,367		3,222	3,102	5		9
	Total revenue	4,360		4,196	3,958	4		10
	Provision for credit losses	(9)		(14)	(27)	36		67
	Noninterest expense	3,492		3,421	3,307	2		6

	Net income	$	656	591	508	11		29

Total client assets (in billions)		2,509		2,473	2,293	1		9

Average balances (in billions)
	Loans	$	88.7	86.2	83.6	3		6
	Deposits	134.5		127.4	118.3	6		14

Fourth Quarter 2025 vs. Fourth Quarter 2024

◦Revenue increased 10%

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

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

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

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.

Selected Financial Information


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

	Net income (loss)	$	(204)	(315)	186	35		NM

NM – Not meaningful

Fourth Quarter 2025 vs. Fourth Quarter 2024

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

◦Noninterest expense decreased and included lower FDIC assessment expense

Endnotes

Page 1 – Company-wide Financial Summary / Operating Segments

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

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

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

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

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

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

Page 2 – Selected Company-wide Financial Information

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

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

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

Page 3 – Selected Company-wide Capital and Liquidity Information

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

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

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

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

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

Conference Call

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

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

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

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

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

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

Forward-Looking Statements

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

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

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

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

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

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

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

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

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

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

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

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

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

•fiscal and monetary policies of the Federal Reserve Board;

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

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

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

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

For additional information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission and available on its website at www.sec.gov1.

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.

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

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About Wells Fargo

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

Contact Information

Media

Beth Richek, 980-308-1568

beth.richek@wellsfargo.com

Investor Relations

John M. Campbell, 415-396-0523

john.m.campbell@wellsfargo.com

# # #

Exhibit 99.2

4Q25 Quarterly Supplement

Wells Fargo & Company and Subsidiaries

QUARTERLY FINANCIAL DATA

TABLE OF CONTENTS


			Page
Consolidated Results

Summary Financial Data			3


Consolidated Statement of Income			5


Consolidated Balance Sheet			6
Average Balances and Interest Rates (Taxable-Equivalent Basis)			7









Reportable Operating Segment Results
Combined Segment Results			8
Consumer Banking and Lending			10
Commercial Banking			12
Corporate and Investment Banking			14
Wealth and Investment Management			16
Corporate			17

Credit-Related Information
Consolidated Loans Outstanding – Period-End Balances, Average Balances, and Average Interest Rates			18
Net Loan Charge-offs			19
Changes in Allowance for Credit Losses for Loans			20
Allocation of the Allowance for Credit Losses for Loans			21
Nonperforming Assets (Nonaccrual Loans and Foreclosed Assets)			22


Commercial Loan Portfolio – Commercial and Industrial Loans and Lease Financing by Industry and Commercial Real Estate Loans by Property Type			23


Other
Tangible Common Equity			24

Risk-Based Capital Ratios Under Basel III			26
Net Interest Income Excluding Markets			27
Changes in Trading Assets and Liabilities			27

Wells Fargo & Company and Subsidiaries

SUMMARY FINANCIAL DATA


	Quarter ended							Dec 31, 2025 % Change from			Year ended
(in millions, except ratios and per share amounts)	Dec 31, 2025			Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025			Dec 31, 2024	% Change
Selected Income Statement Data
Total revenue	$	21,292		21,436	20,822	20,149	20,378	(1)	%	4	$	83,699		82,296	2	%
Noninterest expense	13,726			13,846	13,379	13,891	13,900	(1)		(1)	54,842			54,598	—
Pre-tax pre-provision profit (PTPP) (1)	7,566			7,590	7,443	6,258	6,478	—		17	28,857			27,698	4
Provision for credit losses (2)	1,040			681	1,005	932	1,095	53		(5)	3,658			4,334	(16)
Wells Fargo net income	5,361			5,589	5,494	4,894	5,079	(4)		6	21,338			19,722	8
Wells Fargo net income applicable to common stock	5,114			5,341	5,214	4,616	4,801	(4)		7	20,285			18,606	9

Common Share Data
Diluted earnings per common share	1.62			1.66	1.60	1.39	1.43	(2)		13	6.26			5.37	17
Dividends declared per common share	0.45			0.45	0.40	0.40	0.40	—		13	1.70			1.50	13
Common shares outstanding	3,092.6			3,148.9	3,220.4	3,261.7	3,288.9	(2)		(6)
Average common shares outstanding	3,113.8			3,182.2	3,232.7	3,280.4	3,312.8	(2)		(6)	3,201.8			3,426.1	(7)
Diluted average common shares outstanding	3,159.0			3,223.5	3,267.0	3,321.6	3,360.7	(2)		(6)	3,242.3			3,467.6	(6)
Book value per common share (3)	$	53.24		52.30	51.13	49.86	48.85	2		9
Tangible book value per common share (3)(4)	45.02			44.18	43.18	42.24	41.24	2		9

Selected Equity Data (period-end)
Total equity	183,038			183,012	182,954	182,906	181,066	—		1
Common stockholders' equity	164,651			164,687	164,644	162,627	160,656	—		2
Tangible common equity (4)	139,219			139,119	139,057	137,776	135,628	—		3

Performance Ratios
Return on average assets (ROA) (5)	1.02		%	1.10	1.14	1.03	1.05				1.07		%	1.03
Return on average equity (ROE) (6)	12.3			12.8	12.8	11.5	11.7				12.4			11.4
Return on average tangible common equity (ROTCE) (4)	14.5			15.2	15.2	13.6	13.9				14.6			13.4
Efficiency ratio (7)	64			65	64	69	68				66			66
Net interest margin on a taxable-equivalent basis	2.60			2.61	2.68	2.67	2.70				2.64			2.73
Average deposit cost	1.44			1.54	1.52	1.58	1.73				1.52			1.80

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

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

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

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

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

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

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

-3-

Wells Fargo & Company and Subsidiaries

SUMMARY FINANCIAL DATA (continued)


	Quarter ended							Dec 31, 2025 % Change from			Year ended
($ in millions, unless otherwise noted)	Dec 31, 2025			Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025		Dec 31, 2024	% Change
Selected Balance Sheet Data (average)
Loans	$	955,849		928,677	916,719	908,182	906,353	3	%	5	$	927,491	915,376	1	%
Assets	2,079,777			2,010,200	1,933,371	1,919,661	1,918,536	3		8	1,986,258		1,916,697	4
Deposits	1,377,718			1,339,939	1,331,651	1,339,328	1,353,836	3		2	1,347,245		1,345,915	—

Selected Balance Sheet Data (period-end)
Available-for-sale and Held-to-maturity debt securities	421,596			420,914	406,362	403,456	397,926	—		6
Loans	986,167			943,102	924,418	913,842	912,745	5		8
Allowance for credit losses for loans	14,337			14,311	14,568	14,552	14,636	—		(2)

Assets	2,148,631			2,062,926	1,981,269	1,950,311	1,929,845	4		11
Deposits	1,426,207			1,367,361	1,340,703	1,361,728	1,371,804	4		4

Headcount (#) (period-end)	205,198			210,821	212,804	215,367	217,502	(3)		(6)

Capital and other metrics (1)
Risk-based capital ratios and components (2):
Standardized Approach:
Common Equity Tier 1 (CET1)	10.6		%	11.0	11.1	11.1	11.1
Tier 1 capital	11.9			12.3	12.5	12.6	12.6
Total capital	14.3			14.8	15.0	15.2	15.2
Risk-weighted assets (RWAs) (in billions)	$	1,293.4		1,242.4	1,225.9	1,222.0	1,216.1	4		6

Advanced Approach:
Common Equity Tier 1 (CET1)	12.3		%	12.7	12.7	12.7	12.4
Tier 1 capital	13.8			14.3	14.3	14.5	14.1
Total capital	15.7			16.2	16.2	16.5	16.1
Risk-weighted assets (RWAs) (in billions)	$	1,113.2		1,072.2	1,070.4	1,063.6	1,085.0	4		3

Tier 1 leverage ratio	7.5		%	7.7	8.0	8.1	8.1
Supplementary Leverage Ratio (SLR)	6.2			6.4	6.7	6.8	6.7
Total Loss Absorbing Capacity (TLAC) Ratio (3)	23.2			24.6	24.4	25.1	24.8
Liquidity Coverage Ratio (LCR) (4)	119			121	121	125	125

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

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

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

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

-4-

Wells Fargo & Company and Subsidiaries

CONSOLIDATED STATEMENT OF INCOME


	Quarter ended						Dec 31, 2025 % Change from			Year ended
(in millions, except per share amounts)	Dec 31, 2025		Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025		Dec 31, 2024	% Change







Interest income	$	22,602	22,419	21,320	20,973	22,055	1	%	2	$	87,314	90,777	(4)	%





Interest expense	10,271		10,469	9,612	9,478	10,219	(2)		1	39,830		43,101	(8)
Net interest income	12,331		11,950	11,708	11,495	11,836	3		4	47,484		47,676	—
Noninterest income
Deposit-related fees	1,291		1,290	1,249	1,269	1,237	—		4	5,099		5,015	2
Lending-related fees	393		384	373	364	388	2		1	1,514		1,500	1
Investment advisory and other asset-based fees	2,803		2,660	2,499	2,536	2,566	5		9	10,498		9,775	7
Commissions and brokerage services fees	657		651	610	638	635	1		3	2,556		2,521	1
Investment banking fees	716		840	696	775	725	(15)		(1)	3,027		2,665	14
Card fees (1)	1,149		1,223	1,173	1,044	1,084	(6)		6	4,589		4,342	6
Mortgage banking	322		268	230	332	294	20		10	1,152		1,047	10
Net gains from trading activities (2)	979		1,408	1,376	1,384	1,003	(30)		(2)	5,147		5,366	(4)
Net gains (losses) from debt securities	3		—	—	(147)	(448)	NM		101	(144)		(920)	84
Net gains (losses) from equity investments	319		149	119	(343)	715	114		(55)	244		1,070	(77)

Other (2)(3)	329		613	789	802	343	(46)		(4)	2,533		2,239	13
Total noninterest income	8,961		9,486	9,114	8,654	8,542	(6)		5	36,215		34,620	5
Total revenue	21,292		21,436	20,822	20,149	20,378	(1)		4	83,699		82,296	2




Provision for credit losses (4)	1,040		681	1,005	932	1,095	53		(5)	3,658		4,334	(16)
Noninterest expense
Personnel	9,077		9,021	8,709	9,474	9,071	1		—	36,281		35,729	2
Technology, telecommunications and equipment	1,374		1,319	1,287	1,223	1,282	4		7	5,203		4,583	14
Occupancy	840		784	766	761	789	7		6	3,151		3,052	3

Professional and outside services	1,236		1,177	1,089	1,038	1,237	5		—	4,540		4,607	(1)

Advertising and promotion	352		295	266	181	243	19		45	1,094		869	26
Other (3)	847		1,250	1,262	1,214	1,278	(32)		(34)	4,573		5,758	(21)
Total noninterest expense	13,726		13,846	13,379	13,891	13,900	(1)		(1)	54,842		54,598	—
Income before income tax expense	6,526		6,909	6,438	5,326	5,383	(6)		21	25,199		23,364	8
Income tax expense	1,103		1,300	916	522	120	(15)		819	3,841		3,399	13
Net income before noncontrolling interests	5,423		5,609	5,522	4,804	5,263	(3)		3	21,358		19,965	7
Less: Net income (loss) from noncontrolling interests	62		20	28	(90)	184	210		(66)	20		243	(92)
Wells Fargo net income	$	5,361	5,589	5,494	4,894	5,079	(4)	%	6	$	21,338	19,722	8	%
Less: Preferred stock dividends and other	247		248	280	278	278	—		(11)	1,053		1,116	(6)
Wells Fargo net income applicable to common stock	$	5,114	5,341	5,214	4,616	4,801	(4)	%	7	$	20,285	18,606	9	%
Per share information
Earnings per common share	$	1.64	1.68	1.61	1.41	1.45	(2)	%	13	$	6.34	5.43	17	%
Diluted earnings per common share	1.62		1.66	1.60	1.39	1.43	(2)		13	6.26		5.37	17

NM – Not meaningful

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

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

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

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

-5-

Wells Fargo & Company and Subsidiaries

CONSOLIDATED BALANCE SHEET


							Dec 31, 2025 % Change from
(in millions, except shares)	Dec 31, 2025		Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024
Assets
Cash and due from banks	$	39,182	34,801	35,081	35,256	37,080	13	%	6
Interest-earning deposits with banks	135,028		139,524	159,480	142,309	166,281	(3)		(19)

Federal funds sold and securities borrowed or purchased under resale agreements	193,929		154,576	104,815	126,830	105,330	25		84
Trading assets, at fair value (1)	227,935		225,624	192,933	179,707	168,595	1		35



Available-for-sale debt securities, at fair value	213,573		206,682	184,869	176,229	162,978	3		31
Held-to-maturity debt securities, at amortized cost	208,023		214,232	221,493	227,227	234,948	(3)		(11)
Loans	986,167		943,102	924,418	913,842	912,745	5		8
Allowance for loan losses	(13,797)		(13,744)	(13,961)	(14,029)	(14,183)	—		3
Net loans	972,370		929,358	910,457	899,813	898,562	5		8
Premises and equipment, net	11,395		11,040	10,768	10,357	10,297	3		11
Goodwill	24,967		25,069	25,071	25,066	25,167	—		(1)
Equity investments (1)	40,932		39,267	39,051	40,281	41,374	4		(1)
Other assets (1)	81,297		82,753	97,251	87,236	79,233	(2)		3
Total assets	$	2,148,631	2,062,926	1,981,269	1,950,311	1,929,845	4		11
Liabilities
Noninterest-bearing deposits	$	365,368	366,814	370,844	377,443	383,616	—		(5)
Interest-bearing deposits	1,060,839		1,000,547	969,859	984,285	988,188	6		7
Total deposits	1,426,207		1,367,361	1,340,703	1,361,728	1,371,804	4		4
Federal funds purchased and securities loaned or sold under repurchase agreements (1)	232,687		202,274	161,618	124,825	95,235	15		144
Short-term borrowings (1)	18,323		16,449	13,361	2,324	2,704	11		578
Trading liabilities, at fair value (1)	45,468		45,258	43,531	44,878	44,813	—		1


Accrued expenses and other liabilities (1)	68,196		70,799	62,865	59,990	61,145	(4)		12
Long-term debt	174,712		177,773	176,237	173,660	173,078	(2)		1
Total liabilities	1,965,593		1,879,914	1,798,315	1,767,405	1,748,779	5		12
Equity
Wells Fargo stockholders’ equity:
Preferred stock	16,608		16,608	16,608	18,608	18,608	—		(11)
Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares	9,136		9,136	9,136	9,136	9,136	—		—
Additional paid-in capital	61,288		61,016	60,669	60,275	60,817	—		1
Retained earnings	228,873		225,189	221,308	217,405	214,198	2		7
Accumulated other comprehensive loss	(6,673)		(7,647)	(9,366)	(9,998)	(12,176)	13		45
Treasury stock (2)	(128,115)		(123,148)	(117,244)	(114,336)	(111,463)	(4)		(15)

Total Wells Fargo stockholders’ equity	181,117		181,154	181,111	181,090	179,120	—		1
Noncontrolling interests	1,921		1,858	1,843	1,816	1,946	3		(1)
Total equity	183,038		183,012	182,954	182,906	181,066	—		1
Total liabilities and equity	$	2,148,631	2,062,926	1,981,269	1,950,311	1,929,845	4		11

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

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

-6-

Wells Fargo & Company and Subsidiaries

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


	Quarter ended							Dec 31, 2025 % Change from			Year ended				% Change
($ in millions)	Dec 31, 2025			Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025			Dec 31, 2024
Average Balances

Assets
Interest-earning deposits with banks	$	144,428		158,704	137,136	150,855	171,100	(9)	%	(16)	$	147,793		189,261	(22)	%
Federal funds sold and securities borrowed or purchased under resale agreements	159,759			120,900	105,987	101,175	93,294	32		71	122,113			79,128	54
Trading assets (2)	183,706			172,409	157,704	156,417	148,425	7		24	167,647			138,446	21
Available-for-sale debt securities	212,487			200,309	187,390	175,550	168,511	6		26	194,053			154,866	25
Held-to-maturity debt securities	213,545			221,447	227,525	233,952	242,961	(4)		(12)	224,054			254,048	(12)
Loans	955,849			928,677	916,719	908,182	906,353	3		5	927,491			915,376	1
Equity investments (2)	11,712			12,450	12,039	12,084	11,853	(6)		(1)	12,072			11,986	1
Other interest-earning assets (2)	17,809			17,614	17,660	14,102	13,861	1		28	16,808			13,084	28
Total interest-earning assets	1,899,295			1,832,510	1,762,160	1,752,317	1,756,358	4		8	1,812,031			1,756,195	3
Total noninterest-earning assets	180,482			177,690	171,211	167,344	162,178	2		11	174,227			160,502	9
Total assets	$	2,079,777		2,010,200	1,933,371	1,919,661	1,918,536	3		8	$	1,986,258		1,916,697	4
Liabilities
Interest-bearing deposits	$	1,020,494		984,197	970,684	972,927	984,438	4		4	$	987,198		993,536	(1)
Federal funds purchased and securities loaned or sold under repurchase agreements (2)	215,871			182,636	130,388	115,503	96,911	18		123	161,433			91,363	77
Short-term borrowings (2)	10,869			17,936	6,455	2,459	1,877	(39)		479	9,476			3,458	174
Trading liabilities (2)	35,702			33,086	30,937	30,561	28,031	8		27	32,587			26,729	22
Long-term debt	177,130			175,944	175,289	173,052	175,414	1		1	175,366			184,551	(5)
Other interest-bearing liabilities (2)	19,619			20,382	20,906	18,618	18,604	(4)		5	19,745			18,270	8
Total interest-bearing liabilities	1,479,685			1,414,181	1,334,659	1,313,120	1,305,275	5		13	1,385,805			1,317,907	5
Noninterest-bearing deposits	357,224			355,742	360,967	366,401	369,398	—		(3)	360,047			352,379	2
Other noninterest-bearing liabilities	59,024			56,849	54,477	56,782	60,930	4		(3)	56,930			62,532	(9)
Total liabilities	1,895,933			1,826,772	1,750,103	1,736,303	1,735,603	4		9	1,802,782			1,732,818	4
Total equity	183,844			183,428	183,268	183,358	182,933	—		—	183,476			183,879	—
Total liabilities and equity	$	2,079,777		2,010,200	1,933,371	1,919,661	1,918,536	3		8	$	1,986,258		1,916,697	4

Average Interest Rates

Interest-earning assets
Interest-earning deposits with banks	3.65		%	4.01	3.96	3.96	4.36				3.90		%	4.85
Federal funds sold and securities borrowed or purchased under resale agreements	3.95			4.22	4.19	4.26	4.66				4.13			5.08
Trading assets (2)	4.11			3.97	4.02	3.91	3.98				4.00			4.01
Available-for-sale debt securities	4.60			4.66	4.62	4.48	4.45				4.59			4.26
Held-to-maturity debt securities	2.27			2.32	2.35	2.41	2.51				2.34			2.61
Loans	5.78			5.97	5.95	5.96	6.16				5.91			6.34
Equity investments (2)	2.64			2.22	2.19	2.62	2.83				2.41			3.22
Other interest-earning assets (2)	4.78			5.61	4.24	4.59	5.11				4.81			5.71
Total interest-earning assets	4.75			4.88	4.87	4.85	5.02				4.84			5.19
Interest-bearing liabilities
Interest-bearing deposits	1.94			2.09	2.09	2.17	2.37				2.07			2.44
Federal funds purchased and securities loaned or sold under repurchase agreements (2)	4.05			4.39	4.40	4.40	4.80				4.28			5.22
Short-term borrowings (2)	4.47			4.68	5.04	5.48	6.02				4.73			6.22
Trading liabilities (2)	3.23			3.20	3.19	3.17	3.07				3.20			3.07
Long-term debt	5.61			5.89	5.95	5.97	6.35				5.85			6.75
Other interest-bearing liabilities (2)	3.61			3.75	3.61	3.52	3.04				3.63			3.06
Total interest-bearing liabilities	2.76			2.94	2.89	2.92	3.12				2.87			3.27

Interest rate spread on a taxable-equivalent basis (3)	1.99			1.94	1.98	1.93	1.90				1.97			1.92
Net interest margin on a taxable-equivalent basis (3)	2.60			2.61	2.68	2.67	2.70				2.64			2.73

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

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

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

-7-

Wells Fargo & Company and Subsidiaries

COMBINED SEGMENT RESULTS (1)


						Quarter ended December 31, 2025
(in millions)	Consumer Banking and Lending		Commercial Banking	Corporate and Investment Banking	Wealth and Investment Management	Corporate (2)	Reconciling Items (3)	Consolidated Company
Net interest income	$	7,536	1,993	2,082	993	(199)	(74)	12,331
Noninterest income	2,035		1,086	2,534	3,367	388	(449)	8,961
Total revenue	9,571		3,079	4,616	4,360	189	(523)	21,292
Provision for credit losses	911		105	78	(9)	(45)	—	1,040
Noninterest expense	5,820		1,443	2,347	3,492	624	—	13,726
Income (loss) before income tax expense (benefit)	2,840		1,531	2,191	877	(390)	(523)	6,526
Income tax expense (benefit)	712		387	552	221	(246)	(523)	1,103
Net income (loss) before noncontrolling interests	2,128		1,144	1,639	656	(144)	—	5,423
Less: Net income from noncontrolling interests	—		2	—	—	60	—	62
Net income (loss)	$	2,128	1,142	1,639	656	(204)	—	5,361

						Quarter ended September 30, 2025
Net interest income	$	7,505	1,949	1,870	974	(273)	(75)	11,950
Noninterest income	2,145		1,092	3,009	3,222	449	(431)	9,486
Total revenue	9,650		3,041	4,879	4,196	176	(506)	21,436
Provision for credit losses	767		39	(107)	(14)	(4)	—	681
Noninterest expense	5,968		1,445	2,362	3,421	650	—	13,846
Income (loss) before income tax expense (benefit)	2,915		1,557	2,624	789	(470)	(506)	6,909
Income tax expense (benefit)	730		393	658	198	(173)	(506)	1,300
Net income (loss) before noncontrolling interests	2,185		1,164	1,966	591	(297)	—	5,609
Less: Net income from noncontrolling interests	—		2	—	—	18	—	20
Net income (loss)	$	2,185	1,162	1,966	591	(315)	—	5,589

						Quarter ended December 31, 2024
Net interest income	$	7,020	2,248	2,054	856	(264)	(78)	11,836
Noninterest income	1,960		923	2,559	3,102	368	(370)	8,542
Total revenue	8,980		3,171	4,613	3,958	104	(448)	20,378
Provision for credit losses	911		33	205	(27)	(27)	—	1,095
Noninterest expense	5,925		1,525	2,300	3,307	843	—	13,900
Income (loss) before income tax expense (benefit)	2,144		1,613	2,108	678	(712)	(448)	5,383
Income tax expense (benefit)	542		408	528	170	(1,080)	(448)	120
Net income before noncontrolling interests	1,602		1,205	1,580	508	368	—	5,263
Less: Net income from noncontrolling interests	—		2	—	—	182	—	184
Net income	$	1,602	1,203	1,580	508	186	—	5,079

(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.

-8-

Wells Fargo & Company and Subsidiaries

COMBINED SEGMENT RESULTS (continued) (1)


						Year ended December 31, 2025
(in millions)	Consumer Banking and Lending		Commercial Banking	Corporate and Investment Banking	Wealth and Investment Management	Corporate (2)	Reconciling Items (3)	Consolidated Company
Net interest income	$	29,183	7,902	7,557	3,684	(539)	(303)	47,484
Noninterest income	8,179		4,076	11,675	12,644	1,286	(1,645)	36,215
Total revenue	37,362		11,978	19,232	16,328	747	(1,948)	83,699
Provision for credit losses	3,362		288	74	—	(66)	—	3,658
Noninterest expense	23,515		6,077	9,436	13,518	2,296	—	54,842
Income (loss) before income tax expense (benefit)	10,485		5,613	9,722	2,810	(1,483)	(1,948)	25,199
Income tax expense (benefit)	2,620		1,421	2,439	691	(1,382)	(1,948)	3,841
Net income (loss) before noncontrolling interests	7,865		4,192	7,283	2,119	(101)	—	21,358
Less: Net income from noncontrolling interests	—		8	—	—	12	—	20
Net income (loss)	$	7,865	4,184	7,283	2,119	(113)	—	21,338

						Year ended December 31, 2024
Net interest income	$	28,303	9,096	7,935	3,473	(791)	(340)	47,676
Noninterest income	7,898		3,682	11,409	11,963	1,129	(1,461)	34,620
Total revenue	36,201		12,778	19,344	15,436	338	(1,801)	82,296
Provision for credit losses	3,561		290	521	(22)	(16)	—	4,334
Noninterest expense	23,274		6,190	9,029	12,884	3,221	—	54,598
Income (loss) before income tax expense (benefit)	9,366		6,298	9,794	2,574	(2,867)	(1,801)	23,364
Income tax expense (benefit)	2,357		1,599	2,456	672	(1,884)	(1,801)	3,399
Net income (loss) before noncontrolling interests	7,009		4,699	7,338	1,902	(983)	—	19,965
Less: Net income from noncontrolling interests	—		10	—	—	233	—	243
Net income (loss)	$	7,009	4,689	7,338	1,902	(1,216)	—	19,722

-9-

Wells Fargo & Company and Subsidiaries

CONSUMER BANKING AND LENDING SEGMENT


	Quarter ended						Dec 31, 2025 % Change from			Year ended
($ in millions)	Dec 31, 2025		Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025		Dec 31, 2024	% Change
Income Statement
Net interest income	$	7,536	7,505	7,199	6,943	7,020	—	%	7	$	29,183	28,303	3	%
Noninterest income:
Deposit-related fees	692		698	653	651	657	(1)		5	2,694		2,734	(1)
Card fees (1)	1,088		1,162	1,109	978	1,019	(6)		7	4,337		4,076	6
Mortgage banking	179		199	169	222	185	(10)		(3)	769		650	18
Other	76		86	98	119	99	(12)		(23)	379		438	(13)
Total noninterest income	2,035		2,145	2,029	1,970	1,960	(5)		4	8,179		7,898	4
Total revenue	9,571		9,650	9,228	8,913	8,980	(1)		7	37,362		36,201	3
Net charge-offs	775		766	818	877	887	1		(13)	3,236		3,546	(9)
Change in the allowance for credit losses	136		1	127	(138)	24	NM		467	126		15	740
Provision for credit losses	911		767	945	739	911	19		—	3,362		3,561	(6)
Noninterest expense	5,820		5,968	5,799	5,928	5,925	(2)		(2)	23,515		23,274	1
Income before income tax expense	2,840		2,915	2,484	2,246	2,144	(3)		32	10,485		9,366	12
Income tax expense	712		730	621	557	542	(2)		31	2,620		2,357	11
Net income	$	2,128	2,185	1,863	1,689	1,602	(3)		33	$	7,865	7,009	12
Revenue by Line of Business
Consumer, Small and Business Banking	$	6,591	6,567	6,288	5,981	6,067	—		9	$	25,427	24,510	4
Consumer Lending:
Home Lending	807		870	821	866	854	(7)		(6)	3,364		3,383	(1)
Credit Card (1)	1,600		1,663	1,588	1,524	1,489	(4)		7	6,375		5,908	8
Auto	282		256	241	237	263	10		7	1,016		1,118	(9)
Personal Lending	291		294	290	305	307	(1)		(5)	1,180		1,282	(8)
Total revenue	$	9,571	9,650	9,228	8,913	8,980	(1)		7	$	37,362	36,201	3
Selected Balance Sheet Data (average)
Loans by Line of Business:
Consumer, Small and Business Banking (2)	$	13,487	13,700	5,913	6,034	6,105	(2)		121	$	9,815	6,292	56
Consumer Lending:
Home Lending	200,226		201,803	203,556	205,507	207,780	(1)		(4)	202,756		210,972	(4)
Credit Card	52,898		51,121	49,947	50,109	50,243	3		5	51,027		48,322	6
Auto	48,699		44,775	42,366	42,498	43,005	9		13	44,602		45,048	(1)
Personal Lending	13,977		13,880	13,651	13,902	14,291	1		(2)	13,852		14,529	(5)
Total loans	$	329,287	325,279	315,433	318,050	321,424	1		2	$	322,052	325,163	(1)
Total deposits (2)	778,646		781,329	781,384	778,601	773,631	—		1	779,994		774,660	1
Allocated capital	45,500		45,500	45,500	45,500	45,500	—		—	45,500		45,500	—

Selected Balance Sheet Data (period-end)
Loans by Line of Business:
Consumer, Small and Business Banking (2)	$	13,674	13,789	6,033	6,144	6,256	(1)		119
Consumer Lending:
Home Lending	199,742		201,345	203,062	204,656	207,022	(1)		(4)
Credit Card	54,059		51,572	50,084	49,518	50,992	5		6
Auto	50,954		46,524	43,373	41,999	42,914	10		19
Personal Lending	14,052		13,984	13,790	13,656	14,246	—		(1)
Total loans	$	332,481	327,214	316,342	315,973	321,430	2		3
Total deposits (2)	790,962		782,292	780,978	798,841	783,490	1		1

NM – Not meaningful

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

-10-

Wells Fargo & Company and Subsidiaries

CONSUMER BANKING AND LENDING SEGMENT (continued)


	Quarter ended							Dec 31, 2025 % Change from			Year ended
($ in millions, unless otherwise noted)	Dec 31, 2025			Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025			Dec 31, 2024	% Change
Selected Metrics
Consumer Banking and Lending:
Return on allocated capital (1)	18.0		%	18.5	15.9	14.5	13.4				16.7		%	14.8
Efficiency ratio (2)	61			62	63	67	66				63			64

Retail bank branches (#, period-end)	4,090			4,108	4,135	4,155	4,177	—	%	(2)
Digital active customers (# in millions, period-end) (3)	37.2			37.0	36.6	36.7	36.0	1		3
Mobile active customers (# in millions, period-end) (3)	32.8			32.5	32.1	31.8	31.4	1		4

Consumer, Small and Business Banking:
Deposit spread (4)	2.65		%	2.63	2.57	2.47	2.46				2.58		%	2.50
Debit card purchase volume ($ in billions) (5)	$	137.3		133.6	133.6	126.0	131.0	3		5	$	530.5		507.5	5	%
Debit card purchase transactions (# in millions) (5)	2,696			2,674	2,655	2,486	2,622	1		3	10,511			10,230	3

Home Lending:
Mortgage banking:
Net servicing income	$	150		152	136	181	128	(1)		17	$	619		422	47
Net gains on mortgage loan originations/sales	29			47	33	41	57	(38)		(49)	150			228	(34)
Total mortgage banking	$	179		199	169	222	185	(10)		(3)	$	769		650	18


Mortgage loan originations ($ in billions)	$	7.5		7.0	7.4	4.4	5.9	7		27	$	26.3		20.2	30

% of originations held for sale (HFS)	21.9		%	31.0	34.0	38.2	40.3				30.4		%	40.6
Third party mortgage loans serviced ($ in billions, period-end) (6)	$	397.0		433.8	455.5	471.1	486.9	(8)		(18)
Mortgage servicing rights (MSR) carrying value (period-end)	5,696			6,167	6,417	6,536	6,844	(8)		(17)

Home lending loans 30+ days delinquency rate (period-end) (7)(8)(9)	0.31		%	0.32	0.30	0.29	0.29

Credit Card (5):
Credit card purchase volume ($ in billions)	$	49.7		47.4	46.4	42.5	45.1	5		10	$	186.0		170.5	9
Credit card new accounts (# in thousands)	819			914	643	554	486	(10)		69	2,930			2,429	21


Credit card loans 30+ days delinquency rate (period-end) (8)(9)	2.80		%	2.69	2.64	2.82	2.91
Credit card loans 90+ days delinquency rate (period-end) (8)(9)	1.43			1.34	1.32	1.46	1.51

Auto:
Auto loan originations ($ in billions)	$	10.2		8.8	6.9	4.6	5.0	16		104	$	30.5		16.9	80
Auto loans 30+ days delinquency rate (period-end) (8)(9)	1.52		%	1.54	1.72	1.87	2.31

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

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

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

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

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

(6)Excludes residential mortgage loans subserviced for others.

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

(8)Excludes loans held for sale.

(9)Delinquency balances exclude nonaccrual loans.

-11-

Wells Fargo & Company and Subsidiaries

COMMERCIAL BANKING SEGMENT


	Quarter ended							Dec 31, 2025 % Change from			Year ended
($ in millions)	Dec 31, 2025			Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025			Dec 31, 2024	% Change
Income Statement
Net interest income	$	1,993		1,949	1,983	1,977	2,248	2	%	(11)	$	7,902		9,096	(13)	%
Noninterest income:
Deposit-related fees	320			311	324	335	303	3		6	1,290			1,180	9
Lending-related fees	147			144	138	136	140	2		5	565			555	2
Lease income	115			119	116	123	124	(3)		(7)	473			532	(11)
Other	504			518	372	354	356	(3)		42	1,748			1,415	24
Total noninterest income	1,086			1,092	950	948	923	(1)		18	4,076			3,682	11
Total revenue	3,079			3,041	2,933	2,925	3,171	1		(3)	11,978			12,778	(6)
Net charge-offs	96			83	98	41	111	16		(14)	318			333	(5)
Change in the allowance for credit losses	9			(44)	(141)	146	(78)	120		112	(30)			(43)	30
Provision for credit losses	105			39	(43)	187	33	169		218	288			290	(1)
Noninterest expense	1,443			1,445	1,519	1,670	1,525	—		(5)	6,077			6,190	(2)
Income before income tax expense	1,531			1,557	1,457	1,068	1,613	(2)		(5)	5,613			6,298	(11)
Income tax expense	387			393	369	272	408	(2)		(5)	1,421			1,599	(11)
Less: Net income from noncontrolling interests	2			2	2	2	2	—		—	8			10	(20)
Net income	$	1,142		1,162	1,086	794	1,203	(2)		(5)	$	4,184		4,689	(11)






Revenue by Product
Lending and leasing	$	1,254		1,251	1,262	1,267	1,291	—		(3)	$	5,034		5,201	(3)
Treasury management and payments	1,284			1,206	1,250	1,260	1,423	6		(10)	5,000			5,690	(12)
Other	541			584	421	398	457	(7)		18	1,944			1,887	3
Total revenue	$	3,079		3,041	2,933	2,925	3,171	1		(3)	$	11,978		12,778	(6)

Selected Metrics
Return on allocated capital	16.5		%	16.8	15.8	11.4	17.4				15.1		%	17.1
Efficiency ratio	47			48	52	57	48				51			48

-12-

Wells Fargo & Company and Subsidiaries

COMMERCIAL BANKING SEGMENT (continued)


	Quarter ended						Dec 31, 2025 % Change from			Year ended
($ in millions)	Dec 31, 2025		Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025		Dec 31, 2024	% Change
Selected Balance Sheet Data (average)
Loans:
Commercial and industrial	$	170,565	166,946	167,134	164,113	162,060	2	%	5	$	167,207	162,827	3	%
Commercial real estate	38,405		37,605	44,373	44,598	44,555	2		(14)	41,218		44,898	(8)
Lease financing and other	15,046		14,805	14,954	15,093	15,180	2		(1)	14,974		15,332	(2)
Total loans (1)	$	224,016	219,356	226,461	223,804	221,795	2		1	$	223,399	223,057	—






Total deposits (1)	180,989		171,976	177,994	182,859	184,293	5		(2)	178,432		172,129	4
Allocated capital	26,000		26,000	26,000	26,000	26,000	—		—	26,000		26,000	—

Selected Balance Sheet Data (period-end)
Loans:
Commercial and industrial	$	173,931	170,031	169,958	168,369	163,464	2		6
Commercial real estate	39,227		38,030	44,484	44,788	44,506	3		(12)
Lease financing and other	15,469		15,174	15,102	15,109	15,348	2		1
Total loans (1)	$	228,627	223,235	229,544	228,266	223,318	2		2






Total deposits (1)	190,004		176,954	179,848	181,469	188,650	7		1

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

-13-

Wells Fargo & Company and Subsidiaries

CORPORATE AND INVESTMENT BANKING SEGMENT


	Quarter ended							Dec 31, 2025 % Change from			Year ended
($ in millions)	Dec 31, 2025			Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025			Dec 31, 2024	% Change
Income Statement
Net interest income	$	2,082		1,870	1,815	1,790	2,054	11	%	1	$	7,557		7,935	(5)	%
Noninterest income:
Deposit-related fees	272			273	266	275	269	—		1	1,086			1,073	1
Lending-related fees	220			214	209	201	221	3		—	844			842	—
Investment banking fees	694			826	700	765	726	(16)		(4)	2,985			2,675	12
Net gains from trading activities (1)	927			1,367	1,335	1,358	986	(32)		(6)	4,987			5,173	(4)
Other (1)	421			329	348	675	357	28		18	1,773			1,646	8
Total noninterest income	2,534			3,009	2,858	3,274	2,559	(16)		(1)	11,675			11,409	2
Total revenue	4,616			4,879	4,673	5,064	4,613	(5)		—	19,232			19,344	(1)
Net charge-offs	182			96	75	97	214	90		(15)	450			909	(50)
Change in the allowance for credit losses	(104)			(203)	28	(97)	(9)	49		NM	(376)			(388)	3
Provision for credit losses	78			(107)	103	—	205	173		(62)	74			521	(86)
Noninterest expense	2,347			2,362	2,251	2,476	2,300	(1)		2	9,436			9,029	5
Income before income tax expense	2,191			2,624	2,319	2,588	2,108	(17)		4	9,722			9,794	(1)
Income tax expense	552			658	582	647	528	(16)		5	2,439			2,456	(1)

Net income	$	1,639		1,966	1,737	1,941	1,580	(17)		4	$	7,283		7,338	(1)

Revenue by Line of Business
Banking:
Lending	$	656		647	601	618	691	1		(5)	$	2,522		2,758	(9)
Treasury Management and Payments	648			630	611	618	644	3		1	2,507			2,712	(8)
Investment Banking	457			554	463	534	491	(18)		(7)	2,008			1,814	11
Total Banking	1,761			1,831	1,675	1,770	1,826	(4)		(4)	7,037			7,284	(3)
Commercial Real Estate	1,236			1,186	1,212	1,449	1,274	4		(3)	5,083			5,144	(1)
Markets:
Fixed Income, Currencies, and Commodities (FICC)	1,164			1,355	1,391	1,382	1,179	(14)		(1)	5,292			5,093	4
Equities	453			450	387	448	385	1		18	1,738			1,789	(3)
Credit Adjustment (CVA/DVA/FVA) and Other (2)	(15)			48	1	(3)	(71)	NM		79	31			(14)	321
Total Markets	1,602			1,853	1,779	1,827	1,493	(14)		7	7,061			6,868	3
Other	17			9	7	18	20	89		(15)	51			48	6
Total revenue	$	4,616		4,879	4,673	5,064	4,613	(5)		—	$	19,232		19,344	(1)

Selected Metrics
Return on allocated capital	13.8		%	16.8	14.9	17.0	13.4				15.6		%	15.7
Efficiency ratio	51			48	48	49	50				49			47

NM – Not meaningful

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

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

-14-

Wells Fargo & Company and Subsidiaries

CORPORATE AND INVESTMENT BANKING SEGMENT (continued)


	Quarter ended						Dec 31, 2025 % Change from			Year ended
($ in millions)	Dec 31, 2025		Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025		Dec 31, 2024	% Change
Selected Balance Sheet Data (average)
Loans:
Commercial and industrial	$	233,429	214,774	202,473	192,654	185,677	9	%	26	$	210,955	183,792	15	%
Commercial real estate	79,437		81,121	83,413	84,633	88,285	(2)		(10)	82,134		93,247	(12)
Total loans	$	312,866	295,895	285,886	277,287	273,962	6		14	$	293,089	277,039	6

Loans by Line of Business:
Banking	$	100,961	92,787	88,994	86,528	85,722	9		18	$	92,358	87,318	6
Commercial Real Estate	116,584		117,115	117,917	117,318	119,414	—		(2)	117,232		125,799	(7)
Markets	95,321		85,993	78,975	73,441	68,826	11		38	83,499		63,922	31
Total loans	$	312,866	295,895	285,886	277,287	273,962	6		14	$	293,089	277,039	6
Trading-related assets:
Trading assets, excluding derivative assets (1)	$	197,928	177,045	158,449	159,548	149,082	12		33	$	173,358	138,764	25
Derivative assets	22,392		22,682	23,404	19,688	20,254	(1)		11	22,051		18,883	17
Reverse repurchase agreements/securities borrowed	144,040		115,868	101,894	97,171	87,517	24		65	114,875		72,374	59
Total trading-related assets (1)	$	364,360	315,595	283,747	276,407	256,853	15		42	$	310,284	230,021	35
Total assets	735,281		679,877	641,499	611,037	588,154	8		25	667,299		568,035	17
Total deposits	214,520		204,056	202,420	203,914	205,077	5		5	206,251		192,592	7
Allocated capital	44,000		44,000	44,000	44,000	44,000	—		—	44,000		44,000	—

Selected Balance Sheet Data (period-end)
Loans:
Commercial and industrial	$	253,004	224,462	208,161	197,142	192,573	13		31
Commercial real estate	80,505		79,518	82,417	83,522	86,107	1		(7)
Total loans	$	333,509	303,980	290,578	280,664	278,680	10		20

Loans by Line of Business:
Banking	$	111,260	95,215	90,999	88,239	86,328	17		29
Commercial Real Estate	118,516		116,314	117,233	116,051	117,213	2		1
Markets	103,733		92,451	82,346	76,374	75,139	12		38
Total loans	$	333,509	303,980	290,578	280,664	278,680	10		20
Trading-related assets:
Trading assets, excluding derivative assets (1)	$	205,356	202,471	168,029	160,166	147,514	1		39
Derivative assets	22,474		22,574	24,700	18,883	21,332	—		5
Reverse repurchase agreements/securities borrowed	170,661		130,196	100,268	122,875	96,470	31		77
Total trading-related assets (1)	$	398,491	355,241	292,997	301,924	265,316	12		50
Total assets	787,751		715,683	658,029	632,478	597,278	10		32
Total deposits	224,146		211,051	208,048	209,200	212,948	6		5

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

-15-

Wells Fargo & Company and Subsidiaries

WEALTH AND INVESTMENT MANAGEMENT SEGMENT


	Quarter ended							Dec 31, 2025 % Change from			Year ended
($ in millions, unless otherwise noted)	Dec 31, 2025			Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025			Dec 31, 2024	% Change
Income Statement
Net interest income	$	993		974	891	826	856	2	%	16	$	3,684		3,473	6	%
Noninterest income:
Investment advisory and other asset-based fees	2,744			2,601	2,440	2,474	2,504	5		10	10,259			9,534	8
Commissions and brokerage services fees	560			557	511	534	539	1		4	2,162			2,153	—
Other	63			64	56	40	59	(2)		7	223			276	(19)
Total noninterest income	3,367			3,222	3,007	3,048	3,102	5		9	12,644			11,963	6
Total revenue	4,360			4,196	3,898	3,874	3,958	4		10	16,328			15,436	6
Net charge-offs	—			(1)	6	(6)	(1)	100		100	(1)			(2)	50
Change in the allowance for credit losses	(9)			(13)	6	17	(26)	31		65	1			(20)	105
Provision for credit losses	(9)			(14)	12	11	(27)	36		67	—			(22)	100
Noninterest expense	3,492			3,421	3,245	3,360	3,307	2		6	13,518			12,884	5
Income before income tax expense	877			789	641	503	678	11		29	2,810			2,574	9
Income tax expense	221			198	161	111	170	12		30	691			672	3

Net income	$	656		591	480	392	508	11		29	$	2,119		1,902	11

Selected Metrics
Return on allocated capital	39.1		%	35.1	28.7	23.6	30.2				31.7		%	28.3
Efficiency ratio	80			82	83	87	84				83			83

Client assets ($ in billions, period-end):
Advisory assets	$	1,127		1,104	1,042	980	998	2		13
Other brokerage assets and deposits	1,382			1,369	1,304	1,253	1,295	1		7
Total client assets	$	2,509		2,473	2,346	2,233	2,293	1		9

Selected Balance Sheet Data (average)
Total loans	$	88,663		86,150	84,871	84,344	83,570	3		6	$	86,019		83,005	4
Total deposits	134,539			127,377	123,611	123,378	118,327	6		14	127,257			107,689	18
Allocated capital	6,500			6,500	6,500	6,500	6,500	—		—	6,500			6,500	—

Selected Balance Sheet Data (period-end)
Total loans	$	90,635		87,752	84,990	84,444	84,340	3		7
Total deposits	147,616			132,657	122,912	124,582	127,008	11		16

-16-

Wells Fargo & Company and Subsidiaries

CORPORATE (1)


	Quarter ended						Dec 31, 2025 % Change from			Year ended
($ in millions)	Dec 31, 2025		Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025		Dec 31, 2024	% Change
Income Statement
Net interest income	$	(199)	(273)	(103)	36	(264)	27	%	25	$	(539)	(791)	32	%
Noninterest income	388		449	662	(213)	368	(14)		5	1,286		1,129	14
Total revenue	189		176	559	(177)	104	7		82	747		338	121
Net charge-offs	(23)		10	—	—	(23)	NM		—	(13)		(27)	52
Change in the allowance for credit losses	(22)		(14)	(12)	(5)	(4)	(57)		NM	(53)		11	NM
Provision for credit losses	(45)		(4)	(12)	(5)	(27)	NM		(67)	(66)		(16)	NM
Noninterest expense	624		650	565	457	843	(4)		(26)	2,296		3,221	(29)
Income (loss) before income tax benefit	(390)		(470)	6	(629)	(712)	17		45	(1,483)		(2,867)	48
Income tax benefit	(246)		(173)	(348)	(615)	(1,080)	(42)		77	(1,382)		(1,884)	27
Less: Net income (loss) from noncontrolling interests	60		18	26	(92)	182	233		(67)	12		233	(95)
Net income (loss)	$	(204)	(315)	328	78	186	35		NM	$	(113)	(1,216)	91




Selected Balance Sheet Data (average)

Available-for-sale debt securities	$	203,202	188,103	172,879	161,430	153,969	8		32	$	181,536	138,983	31
Held-to-maturity debt securities	206,595		214,409	220,364	226,714	235,661	(4)		(12)	216,958		246,577	(12)
Equity investments	16,062		16,450	15,493	15,398	15,027	(2)		7	15,854		15,441	3

Total assets	638,732		636,359	601,010	618,339	639,324	—		—	623,701		652,024	(4)
Total deposits	69,024		55,201	46,242	50,576	72,508	25		(5)	55,311		98,845	(44)

Selected Balance Sheet Data (period-end)

Available-for-sale debt securities	$	205,670	198,665	176,235	167,634	154,397	4		33
Held-to-maturity debt securities	204,811		211,069	218,360	224,111	231,892	(3)		(12)
Equity investments	16,451		16,273	15,907	15,138	15,437	1		7

Total assets	638,664		642,044	624,556	621,445	633,799	(1)		1
Total deposits	73,479		64,407	48,917	47,636	59,708	14		23

NM – Not meaningful

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

-17-

Wells Fargo & Company and Subsidiaries

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


	Quarter ended							Dec 31, 2025 $ Change from
($ in millions)	Dec 31, 2025			Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025	Dec 31, 2024
Period-End Loans
Commercial and industrial	$	452,068		417,904	402,150	390,533	381,241	34,164	70,827


Commercial real estate	132,284			130,250	132,560	134,035	136,505	2,034	(4,221)
Lease financing	15,543			15,311	15,060	16,131	16,413	232	(870)
Total commercial	599,895			563,465	549,770	540,699	534,159	36,430	65,736



Residential mortgage	242,190			243,910	245,755	247,613	250,269	(1,720)	(8,079)
Credit card	59,540			56,996	55,318	54,608	56,542	2,544	2,998
Auto	50,487			46,041	42,878	41,482	42,367	4,446	8,120
Other consumer (1)	34,055			32,690	30,697	29,440	29,408	1,365	4,647
Total consumer	386,272			379,637	374,648	373,143	378,586	6,635	7,686
Total loans	$	986,167		943,102	924,418	913,842	912,745	43,065	73,422

Average Loans
Commercial and industrial	$	427,616		405,753	393,602	381,702	372,848	21,863	54,768
Commercial real estate	130,507			131,623	133,661	135,271	139,111	(1,116)	(8,604)
Lease financing	15,243			14,986	16,046	16,182	16,301	257	(1,058)
Total commercial	573,366			552,362	543,309	533,155	528,260	21,004	45,106
Residential mortgage	242,848			244,562	246,512	248,739	251,256	(1,714)	(8,408)
Credit card	58,245			56,420	54,985	55,363	55,699	1,825	2,546
Auto	48,231			44,292	41,865	41,967	42,466	3,939	5,765
Other consumer	33,159			31,041	30,048	28,958	28,672	2,118	4,487
Total consumer	382,483			376,315	373,410	375,027	378,093	6,168	4,390
Total loans	$	955,849		928,677	916,719	908,182	906,353	27,172	49,496

Average Interest Rates
Commercial and industrial	5.94		%	6.26	6.29	6.34	6.73
Commercial real estate	5.94			6.15	6.17	6.19	6.52
Lease financing	5.86			5.85	5.72	5.78	5.77
Total commercial	5.93			6.23	6.24	6.28	6.65
Residential mortgage	3.72			3.72	3.70	3.68	3.68
Credit card	12.27			12.70	12.65	12.74	12.53
Auto	5.70			5.59	5.48	5.33	5.29
Other consumer	6.98			7.40	7.47	7.61	7.97
Total consumer	5.55			5.59	5.52	5.51	5.48
Total loans	5.78			5.97	5.95	5.96	6.16

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

-18-

Wells Fargo & Company and Subsidiaries

NET LOAN CHARGE-OFFS


	Quarter ended
	Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025				Dec 31, 2024				Dec 31, 2025 $ Change from
($ in millions)	Net loan charge-offs		As a % of average loans (1)		Net loan charge-offs		As a % of average loans (1)		Net loan charge-offs		As a % of average loans (1)		Net loan charge-offs		As a % of average loans (1)		Net loan charge-offs		As a % of average loans (1)		Sep 30, 2025		Dec 31, 2024
By product:
Commercial and industrial	$	157	0.15	%	$	131	0.13	%	$	179	0.18	%	$	108	0.11	%	$	132	0.14	%	$	26	25


Commercial real estate	158		0.48		107		0.32		61		0.18		95		0.28		261		0.74		51		(103)
Lease financing	10		0.26		12		0.32		7		0.17		8		0.20		10		0.23		(2)		—
Total commercial	325		0.22		250		0.18		247		0.18		211		0.16		403		0.30		75		(78)


Residential mortgage	(13)		(0.02)		(22)		(0.04)		(3)		—		(15)		(0.02)		(14)		(0.02)		9		1
Credit card	583		3.97		571		4.02		622		4.54		650		4.76		628		4.49		12		(45)
Auto	60		0.49		50		0.45		30		0.29		64		0.62		82		0.77		10		(22)
Other consumer	91		1.09		93		1.19		101		1.35		99		1.39		112		1.56		(2)		(21)
Total consumer	721		0.75		692		0.73		750		0.81		798		0.86		808		0.85		29		(87)
Total net loan charge-offs	$	1,046	0.43	%	$	942	0.40	%	$	997	0.44	%	$	1,009	0.45	%	$	1,211	0.53	%	$	104	(165)
By segment:
Consumer Banking and Lending	$	775	0.93	%	$	766	0.93	%	$	818	1.04	%	$	877	1.12	%	$	887	1.10	%	$	9	(112)
Commercial Banking	90		0.16		83		0.15		98		0.17		41		0.07		111		0.20		7		(21)
Corporate and Investing Banking	181		0.23		94		0.13		75		0.11		97		0.14		214		0.31		87		(33)
Wealth and Investment Management	—		—		(1)		—		6		0.03		(6)		(0.03)		(1)		—		1		1
Corporate	—		—		—		—		—		—		—		—		—		—		—		—
Total net loan charge-offs	$	1,046	0.43	%	$	942	0.40	%	$	997	0.44	%	$	1,009	0.45	%	$	1,211	0.53	%	$	104	(165)

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

-19-

Wells Fargo & Company and Subsidiaries

CHANGES IN ALLOWANCE FOR CREDIT LOSSES FOR LOANS


	Quarter ended							Dec 31, 2025 $ Change from
($ in millions)	Dec 31, 2025			Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025	Dec 31, 2024


Balance, beginning of period	$	14,311		14,568	14,552	14,636	14,739	(257)	(428)
Provision for credit losses for loans	1,071			687	1,007	925	1,116	384	(45)
Net loan charge-offs:
Commercial and industrial	(157)			(131)	(179)	(108)	(132)	(26)	(25)


Commercial real estate	(158)			(107)	(61)	(95)	(261)	(51)	103
Lease financing	(10)			(12)	(7)	(8)	(10)	2	—
Total commercial	(325)			(250)	(247)	(211)	(403)	(75)	78


Residential mortgage	13			22	3	15	14	(9)	(1)
Credit card	(583)			(571)	(622)	(650)	(628)	(12)	45
Auto	(60)			(50)	(30)	(64)	(82)	(10)	22
Other consumer	(91)			(93)	(101)	(99)	(112)	2	21
Total consumer	(721)			(692)	(750)	(798)	(808)	(29)	87
Net loan charge-offs	(1,046)			(942)	(997)	(1,009)	(1,211)	(104)	165
Other	1			(2)	6	—	(8)	3	9
Balance, end of period	$	14,337		14,311	14,568	14,552	14,636	26	(299)
Components:
Allowance for loan losses	$	13,797		13,744	13,961	14,029	14,183	53	(386)
Allowance for unfunded credit commitments	540			567	607	523	453	(27)	87
Allowance for credit losses for loans	$	14,337		14,311	14,568	14,552	14,636	26	(299)
Ratio of allowance for loan losses to total net loan charge-offs (annualized)	3.32x			3.68	3.49	3.43	2.95
Allowance for loan losses as a percentage of:
Total loans	1.40		%	1.46	1.51	1.54	1.55
Nonaccrual loans	168			181	180	176	183
Allowance for credit losses for loans as a percentage of:
Total loans	1.45			1.52	1.58	1.59	1.60
Nonaccrual loans	175			188	188	182	189

-20-

Wells Fargo & Company and Subsidiaries

ALLOCATION OF ALLOWANCE FOR CREDIT LOSSES FOR LOANS


	Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025				Dec 31, 2024
($ in millions)	ACL		ACL as % of loan class		ACL		ACL as % of loan class		ACL		ACL as % of loan class		ACL		ACL as % of loan class		ACL		ACL as % of loan class
By product:
Commercial and industrial	$	4,510	1.00	%	$	4,376	1.05	%	$	4,306	1.07	%	$	4,331	1.11	%	$	4,151	1.09	%


Commercial real estate	2,737		2.07		2,965		2.28		3,317		2.50		3,365		2.51		3,583		2.62
Lease financing	210		1.35		211		1.38		212		1.41		234		1.45		212		1.29
Total commercial	7,457		1.24		7,552		1.34		7,835		1.43		7,930		1.47		7,946		1.49



Residential mortgage (1)	555		0.23		569		0.23		568		0.23		542		0.22		541		0.22
Credit card	4,956		8.32		4,907		8.61		4,910		8.88		4,840		8.86		4,869		8.61
Auto	817		1.62		717		1.56		657		1.53		629		1.52		636		1.50
Other consumer	552		1.62		566		1.73		598		1.95		611		2.08		644		2.19
Total consumer	6,880		1.78		6,759		1.78		6,733		1.80		6,622		1.77		6,690		1.77
Total allowance for credit losses for loans	$	14,337	1.45	%	$	14,311	1.52	%	$	14,568	1.58	%	$	14,552	1.59	%	$	14,636	1.60	%
By segment:
Consumer Banking and Lending	$	7,734	2.33	%	$	7,599	2.32	%	$	7,458	2.36	%	$	7,332	2.32	%	$	7,470	2.32	%
Commercial Banking	2,194		0.96		2,184		0.98		2,368		1.03		2,509		1.10		2,364		1.06
Corporate and Investing Banking	4,167		1.25		4,275		1.41		4,470		1.54		4,444		1.58		4,551		1.63
Wealth and Investment Management	241		0.27		251		0.29		264		0.31		258		0.31		241		0.29
Corporate	1		0.11		2		0.22		8		0.27		9		0.20		10		0.20
Total allowance for credit losses for loans	$	14,337	1.45	%	$	14,311	1.52	%	$	14,568	1.58	%	$	14,552	1.59	%	$	14,636	1.60	%

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

-21-

Wells Fargo & Company and Subsidiaries

NONPERFORMING ASSETS (NONACCRUAL LOANS AND FORECLOSED ASSETS)


	Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025				Dec 31, 2024				Dec 31, 2025 $ Change from
($ in millions)	Balance		% of total loans		Balance		% of total loans		Balance		% of total loans		Balance		% of total loans		Balance		% of total loans		Sep 30, 2025		Dec 31, 2024
By product:
Nonaccrual loans:
Commercial and industrial	$	1,312	0.29	%	$	1,050	0.25	%	$	925	0.23	%	$	969	0.25	%	$	763	0.20	%	$	262	549


Commercial real estate	3,879		2.93		3,334		2.56		3,556		2.68		3,836		2.86		3,771		2.76		545		108
Lease financing	75		0.48		75		0.49		82		0.54		78		0.48		84		0.51		—		(9)
Total commercial	5,266		0.88		4,459		0.79		4,563		0.83		4,883		0.90		4,618		0.86		807		648



Residential mortgage (1)	2,838		1.17		3,057		1.25		3,090		1.26		2,982		1.20		2,991		1.20		(219)		(153)
Auto	70		0.14		71		0.15		76		0.18		83		0.20		89		0.21		(1)		(19)
Other consumer	27		0.08		27		0.08		28		0.09		30		0.10		32		0.11		—		(5)
Total consumer	2,935		0.76		3,155		0.83		3,194		0.85		3,095		0.83		3,112		0.82		(220)		(177)
Total nonaccrual loans	8,201		0.83		7,614		0.81		7,757		0.84		7,978		0.87		7,730		0.85		587		471



Foreclosed assets	302				218				207				247				206				84		96
Total nonperforming assets	$	8,503	0.86	%	$	7,832	0.83	%	$	7,964	0.86	%	$	8,225	0.90	%	$	7,936	0.87	%	$	671	567
By segment:
Consumer Banking and Lending	$	2,941	0.88	%	$	3,181	0.97	%	$	3,054	0.97	%	$	3,011	0.95	%	$	3,029	0.94	%	$	(240)	(88)
Commercial Banking	1,324		0.58		1,086		0.49		1,489		0.65		1,536		0.67		1,173		0.53		238		151
Corporate and Investing Banking	3,973		1.19		3,276		1.08		3,132		1.08		3,442		1.23		3,508		1.26		697		465
Wealth and Investment Management	265		0.29		289		0.33		289		0.34		236		0.28		226		0.27		(24)		39
Corporate	—		—		—		—		—		—		—		—		—		—		—		—
Total nonperforming assets	$	8,503	0.86	%	$	7,832	0.83	%	$	7,964	0.86	%	$	8,225	0.90	%	$	7,936	0.87	%	$	671	567

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

-22-

Wells Fargo & Company and Subsidiaries

COMMERCIAL LOAN PORTFOLIO


	Dec 31, 2025			Sep 30, 2025			Dec 31, 2024
($ in millions)	Nonaccrual loans		Loans outstanding balance	Total commitments (1)	Nonaccrual loans	Loans outstanding balance		Total commitments (1)	Nonaccrual loans	Loans outstanding balance	Total commitments (1)
Commercial and industrial loans and lease financing by industry:
Financials except banks
Asset managers and funds (2)	$	1	84,854	141,129	1	71,882		124,442	1	59,847	106,926
Commercial finance (3)	108		60,955	97,757	20	56,374		93,431	2	51,786	84,652
Consumer finance (4)	129		27,794	45,321	133	24,280		41,054	5	20,840	34,669
Real estate finance (5)	7		34,514	39,043	11	31,101		34,498	16	24,358	29,329
Total financials except banks	245		208,117	323,250	165	183,637		293,425	24	156,831	255,576
Technology, telecom and media	49		26,552	78,922	117	25,353		65,988	106	23,590	61,813
Real estate and construction	66		29,321	60,900	70	29,329		60,547	92	24,839	52,741
Equipment, machinery and parts manufacturing	33		25,985	54,078	66	24,949		51,903	35	25,135	51,150
Retail	208		19,644	42,865	85	20,454		43,224	91	17,709	43,374
Materials and commodities	100		13,609	35,731	104	14,217		34,747	100	13,624	37,365
Food and beverage manufacturing	286		17,838	33,951	8	17,273		33,241	9	16,665	35,079
Auto related	7		16,984	32,169	6	16,061		30,748	8	16,507	30,537
Oil, gas and pipelines	3		10,237	31,738	5	9,709		30,047	3	10,503	30,486
Health care and pharmaceuticals	22		13,513	31,552	35	13,811		31,365	27	13,620	30,726
Diversified or miscellaneous	58		11,905	29,908	77	11,757		27,608	9	9,115	22,847
Utilities	18		8,232	28,187	18	8,132		27,919	—	6,641	24,735
Commercial services	65		11,481	27,563	76	10,848		27,673	78	11,152	26,968
Entertainment and recreation	17		13,208	20,841	23	12,253		18,388	53	12,672	19,691
Insurance and fiduciaries	1		6,128	19,223	1	4,863		16,915	2	4,368	15,753
Transportation services	156		8,237	16,737	183	7,974		15,646	154	9,560	16,477



Other	53		26,620	45,906	86	22,595		41,561	56	25,123	44,324
Total commercial and industrial loans and lease financing	1,387		467,611	913,521	1,125	433,215		850,945	847	397,654	799,642
Commercial real estate loans by property type (6):
Apartments	386		36,974	41,554	287	37,677		41,732	85	39,758	44,783
Industrial/warehouse	42		25,959	31,377	46	23,854		30,020	74	24,038	26,178
Office	2,461		21,958	23,360	2,450	23,670		24,613	3,136	27,380	28,768
Hotel/motel	719		12,764	13,154	289	11,882		12,262	190	11,506	12,015
Retail (excluding shopping center)	43		10,568	11,476	96	10,714		11,687	161	11,345	11,951
Shopping center	53		9,353	9,800	55	8,092		8,514	93	8,113	8,571
Institutional	11		5,402	5,852	12	5,891		6,151	12	5,186	5,524



Other	164		9,306	11,080	99	8,470		10,375	20	9,179	11,220
Total commercial real estate loans	3,879		132,284	147,653	3,334	130,250		145,354	3,771	136,505	149,010
Total commercial loans	$	5,266	599,895	1,061,174	4,459	563,465		996,299	4,618	534,159	948,652

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

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

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

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

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

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

-23-

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. The ratios are (i) tangible book value per common share, which represents tangible common equity divided by common shares outstanding; and (ii) return on average tangible common equity (ROTCE), which represents our annualized earnings as a percentage of tangible common equity. The methodology of determining tangible common equity may differ among companies. Management believes that tangible book value per common share and return on average tangible common equity, which utilize tangible common equity, are useful financial measures because they enable management, investors, and others to assess the Company’s use of equity.

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


								Dec 31, 2025 % Change from
($ in millions)		Dec 31, 2025		Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024
Tangible book value per common share:
Total equity		$	183,038	183,012	182,954	182,906	181,066	—	%	1
Adjustments:
Preferred stock		(16,608)		(16,608)	(16,608)	(18,608)	(18,608)	—		11
Additional paid-in capital on preferred stock		141		141	141	145	144	—		(2)

Noncontrolling interests		(1,920)		(1,858)	(1,843)	(1,816)	(1,946)	(3)		1
Total common stockholders' equity	(A)	164,651		164,687	164,644	162,627	160,656	—		2
Adjustments:
Goodwill		(24,967)		(25,069)	(25,071)	(25,066)	(25,167)	—		1
Certain identifiable intangible assets (other than MSRs)		(823)		(863)	(902)	(65)	(73)	5		NM
Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets)		(705)		(698)	(674)	(674)	(735)	(1)		4
Applicable deferred taxes related to goodwill and other intangible assets (1)		1,063		1,062	1,060	954	947	—		12
Tangible common equity	(B)	$	139,219	139,119	139,057	137,776	135,628	—		3
Common shares outstanding	(C)	3,092.6		3,148.9	3,220.4	3,261.7	3,288.9	(2)		(6)
Book value per common share	(A)/(C)	$	53.24	52.30	51.13	49.86	48.85	2		9
Tangible book value per common share	(B)/(C)	45.02		44.18	43.18	42.24	41.24	2		9

NM – Not meaningful

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

-24-

Wells Fargo & Company and Subsidiaries
TANGIBLE COMMON EQUITY (continued)


		Quarter ended						Dec 31, 2025 % Change from		Year ended
($ in millions)		Dec 31, 2025			Sep 30, 2025	Jun 30, 2025	Mar 31, 2025		Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025			Dec 31, 2024		% Change
Return on average tangible common equity:
Net income applicable to common stock	(A)	$	5,114		5,341	5,214	4,616		4,801	(4)	%	7	$	20,285		18,606		9	%
Average total equity		183,844			183,428	183,268	183,358		182,933	—		—	183,476			183,879		—
Adjustments:
Preferred stock		(16,608)			(16,608)	(18,278)	(18,608)		(18,608)	—		11	(17,517)			(18,581)		6
Additional paid-in capital on preferred stock		141			141	143	145		144	—		(2)	142			147		(3)

Noncontrolling interests		(1,879)			(1,850)	(1,818)	(1,894)		(1,803)	(2)		(4)	(1,860)			(1,751)		(6)
Average common stockholders’ equity	(B)	165,498			165,111	163,315	163,001		162,666	—		2	164,241			163,694		—
Adjustments:
Goodwill		(25,055)			(25,070)	(25,070)	(25,135)		(25,170)	—		—	(25,082)			(25,172)		—
Certain identifiable intangible assets (other than MSRs)		(847)			(889)	(863)	(69)		(78)	5		NM	(670)			(95)		NM
Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets)		(698)			(674)	(674)	(734)		(772)	(4)		10	(695)			(895)		22
Applicable deferred taxes related to goodwill and other intangible assets (1)		1,063			1,061	989	952		945	—		12	1,355			935		45
Average tangible common equity	(C)	$	139,961		139,539	137,697	138,015		137,591	—		2	$	139,149		138,467		—
Return on average common stockholders’ equity (ROE) (annualized)	(A)/(B)	12.3		%	12.8	12.8	11.5		11.7				12.4		%	11.4	%
Return on average tangible common equity (ROTCE) (annualized)	(A)/(C)	14.5			15.2	15.2	13.6		13.9				14.6			13.4

NM – Not meaningful

-25-

Wells Fargo & Company and Subsidiaries

RISK-BASED CAPITAL RATIOS UNDER BASEL III (1)


		Estimated
($ in billions)		Dec 31, 2025			Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024
Total equity		$	183.0		183.0	183.0	182.9	181.1


Adjustments:
Preferred stock		(16.6)			(16.6)	(16.6)	(18.6)	(18.6)
Additional paid-in capital on preferred stock		0.1			0.2	0.1	0.1	0.1
Noncontrolling interests		(1.8)			(1.9)	(1.9)	(1.8)	(1.9)
Total common stockholders' equity		164.7			164.7	164.6	162.6	160.7
Adjustments:
Goodwill		(25.0)			(25.1)	(25.1)	(25.1)	(25.2)
Certain identifiable intangible assets (other than MSRs)		(0.8)			(0.9)	(0.9)	(0.1)	(0.1)
Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets)		(0.7)			(0.7)	(0.7)	(0.7)	(0.7)
Applicable deferred taxes related to goodwill and other intangible assets (2)		1.1			1.1	1.1	1.0	0.9
Other		(2.0)			(2.5)	(2.6)	(2.1)	(1.0)
Common Equity Tier 1 under the Standardized and Advanced Approaches	(A)	137.3			136.6	136.4	135.6	134.6
Preferred stock		16.6			16.6	16.6	18.6	18.6
Additional paid-in capital on preferred stock		(0.1)			(0.2)	(0.1)	(0.1)	(0.1)
Other		(0.2)			(0.2)	(0.2)	(0.2)	(0.2)
Total Tier 1 capital under the Standardized and Advanced Approaches	(B)	153.6			152.8	152.7	153.9	152.9

Long-term debt and other instruments qualifying as Tier 2		16.8			16.7	17.3	17.6	17.6
Qualifying allowance for credit losses (3)		14.6			14.6	14.6	14.4	14.5
Other		(0.3)			(0.4)	(0.4)	(0.4)	(0.3)
Total Tier 2 capital under the Standardized Approach	(C)	31.1			30.9	31.5	31.6	31.8
Total qualifying capital under the Standardized Approach	(B)+(C)	$	184.7		183.7	184.2	185.5	184.7

Long-term debt and other instruments qualifying as Tier 2		16.8			16.7	17.3	17.6	17.6
Qualifying allowance for credit losses (3)		4.5			4.4	4.3	4.3	4.3
Other		(0.3)			(0.4)	(0.4)	(0.4)	(0.3)
Total Tier 2 capital under the Advanced Approach	(D)	21.0			20.7	21.2	21.5	21.6
Total qualifying capital under the Advanced Approach	(B)+(D)	$	174.6		173.5	173.9	175.4	174.5

Total risk-weighted assets (RWAs) under the Standardized Approach	(E)	$	1,293.4		1,242.4	1,225.9	1,222.0	1,216.1
Total RWAs under the Advanced Approach	(F)	$	1,113.2		1,072.2	1,070.4	1,063.6	1,085.0

Ratios under the Standardized Approach:
Common Equity Tier 1	(A)/(E)	10.6		%	11.0	11.1	11.1	11.1
Tier 1 capital	(B)/(E)	11.9			12.3	12.5	12.6	12.6
Total capital	(B)+(C)/(E)	14.3			14.8	15.0	15.2	15.2

Ratios under the Advanced Approach:
Common Equity Tier 1	(A)/(F)	12.3		%	12.7	12.7	12.7	12.4
Tier 1 capital	(B)/(F)	13.8			14.3	14.3	14.5	14.1
Total capital	(B)+(D)/(F)	15.7			16.2	16.2	16.5	16.1

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

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

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

-26-

Wells Fargo & Company and Subsidiaries

NET INTEREST INCOME EXCLUDING MARKETS

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

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


	Quarter ended						Dec 31, 2025 % Change from			Year ended
($ in millions)	Dec 31, 2025		Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2025		Dec 31, 2024	Dec 31, 2025		Dec 31, 2024	% Change
Net interest income	$	12,331	11,950	11,708	11,495	11,836	3	%	4	$	47,484	47,676	—	%
Markets net interest income	358		144	104	131	180	149		99	737		396	86
Net interest income excluding Markets	$	11,973	11,806	11,604	11,364	11,656	1	%	3	$	46,747	47,280	(1)	%

CHANGES IN TRADING ASSETS AND LIABILITIES

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


	Quarter ended													Year ended
	September 30, 2025				June 30, 2025			March 31, 2025			December 31, 2024			December 31, 2024
($ in millions)	As previously reported		Effect of change (1)	As revised	As previously reported	Effect of change (1)	As revised	As previously reported	Effect of change (1)	As revised	As previously reported	Effect of change (1)	As revised	As previously reported	Effect of change (1)	As revised
Selected Income Statement Data
Noninterest income:
Net gains from trading activities	$	1,466	(58)	1,408	1,270	106	1,376	1,373	11	1,384	950	53	1,003	5,284	82	5,366
Other noninterest income (1)	555		58	613	895	(106)	789	813	(11)	802	396	(53)	343	2,321	(82)	2,239

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

-27-

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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


Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered
Common Stock, par value $1-2/3	WFC	New York Stock Exchange (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


Exhibit No.	Description	Location
99.1	News Release dated January 14, 2026	Filed herewith
99.2	4Q25 Quarterly Supplement	Filed herewith
99.3	Presentation Materials – 4Q25 Financial Results	Furnished herewith
104	Cover Page Interactive Data File	Embedded within the Inline XBRL document


Dated:	January 14, 2026	WELLS FARGO & COMPANY

		By:	/s/ MUNEERA S. CARR
			Muneera S. Carr
			Executive Vice President, Chief Accounting Officer and Controller