The risks management is required to disclose to investors — competitive, operational, regulatory, and financial — from the annual 10-K filing (Item 1A).
The text below is reproduced verbatim from WFC’s SEC filing. See also WFC’s supply chain and financial statements.
ITEM 1A. RISK FACTORS
ITEM 1A. RISK FACTORS Information in response to this Item 1A can be found in this report under Item 1 and in the 2025 Annual Report to Shareholders under “Financial Review – Risk Factors.” That information is incorporated into this item by reference. ITEM 1B. UNRESOLVED STAFF COMMENTS Not applicable. ITEM 1C. CYBERSECURITY Information in response to this Item 1C can be found in the 2025 Annual Report to Shareholders under “Financial Review – Risk Management – Operational Risk Management.” That information is incorporated into this item by reference. 8 ITEM 2. PROPERTIES December 31, 2025 Approximate square footage (in millions) We occupy properties in: Top U.S. locations: Charlotte-Concord-Gastonia, NC-SC 5.3 Minneapolis-St. Paul-Bloomington, MN-WI 2.9 New York-Newark-Jersey City, NY-NJ-PA 2.7 Los Angeles-Long Beach-Anaheim, CA 2.6 Phoenix-Mesa-Chandler, AZ 2.5 Dallas-Fort Worth-Arlington, TX 2.3 San Francisco-Oakland-Berkeley, CA metro area (including corporate headquarters in San Francisco) 2.1 St. Louis, MO-IL 1.9 Des Moines-West Des Moines, IA 1.6 Washington-Arlington-Alexandria, DC-VA-MD-WV 1.1 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 1.1 All other U.S. locations 26.6 Total United States 52.8 Top International locations: India 4.3 Philippines 1.3 United Kingdom 0.2 All other international locations 0.3 Total International 6.1 Total square footage of property occupied for business operations (1) 58.9 (1) In addition to the total square footage of property occupied, Wells Fargo held 5.8 million square feet of real estate as of December 31, 2025, that was vacant pending disposition, leased to retail tenants or leased-to-term by third-party office tenants. As of December 31, 2025, we provided a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through banking locations and offices. The locations and offices occupied by the Company are used across all of our reportable operating segments and for corporate purposes. We continue to evaluate our owned and leased properties and may determine from time to time that certain of our properties are no longer necessary for our operations. There is no assurance that we will be able to dispose of any excess properties or that we will not incur charges in connection with such dispositions, which could be material to our operating results in a given period. ITEM 3. LEGAL PROCEEDINGS Information in response to this Item 3 can be found in the 2025 Annual Report to Shareholders under “Financial Statements – Notes to Financial Statements – Note 12 (Legal Actions).” That information is incorporated into this item by reference. ITEM 4. MINE SAFETY DISCLOSURES Not applicable. 9 PART II ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES MARKET INFORMATION The Company’s common stock is listed on the NYSE (symbol “WFC”). The “Stock Performance” section of the 2025 Annual Report to Shareholders provides stockholder return comparisons and is incorporated herein by reference. At February 13, 2026, there were 155,031 holders of record of the Company’s common stock. DIVIDENDS The dividend restrictions discussions in the “Regulation and Supervision – Dividend and Share Repurchase Restrictions” section under Item 1 of this report and in the 2025 Annual Report to Shareholders under “Financial Statements – Notes to Financial Statements – Note 25 (Regulatory Capital Requirements and Other Restrictions)” are incorporated into this item by reference. REPURCHASES OF EQUITY SECURITIES The information in the “Capital Management – Securities Repurchases” section in the 2025 Annual Report to Shareholders is incorporated into this item by reference. The following table shows Company repurchases of its common stock for each calendar month in the quarter ended December 31, 2025. Calendar month Total number of shares repurchased (1) Weighted average price paid per share Approximate dollar value of shares that may yet be repurchased under the authorization (in millions) October 26,400,000 $ 85.75 32,494 November 31,815,637 86.00 29,758 December — — 29,758 Total 58,215,637 (1) All shares were repurchased under an authorization covering up to $40 billion of common stock approved by the Board of Directors and publicly announced by the Company on April 29, 2025. Unless modified or revoked by the Board of Directors, this authorization does not expire. ITEM 6. [RESERVED] ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Information in response to this Item 7 can be found in the 2025 Annual Report to Shareholders under “Financial Review.” That information is incorporated into this item by reference. ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Information in response to this Item 7A can be found in the 2025 Annual Report to Shareholders under “Financial Review – Risk Management – Asset/Liability Management.” That information is incorporated into this item by reference. ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Information in response to this Item 8 can be found in the 2025 Annual Report to Shareholders under “Financial Statements,” under “Notes to Financial Statements” and under “Quarterly Financial Data.” That information is incorporated into this item by reference. 10 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE Not applicable. ITEM 9A. CONTROLS AND PROCEDURES Information in response to this Item 9A can be found in the 2025 Annual Report to Shareholders under “Controls and Procedures.” That information is incorporated into this item by reference. ITEM 9B. OTHER INFORMATION Trading Plans During the three months ended December 31, 2025, no director or officer (as defined in Rule 16a-1(f) under the Exchange Act) of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K. Disclosure Pursuant to Section 13(r) of the Exchange Act Pursuant to Section 13(r) of the Exchange Act, an issuer is required to disclose in its annual or quarterly reports, as applicable, whether it or any of its affiliates knowingly engaged in certain activities, transactions or dealings relating to the Government of Iran or with certain individuals or entities that are the subject of sanctions under U.S. law. Disclosure may be required even where the activities, transactions or dealings were conducted in compliance with applicable law. In first quarter 2025, the Company identified, as well as blocked and reported to the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), accounts held by certain consumer customers who the Company determined met the OFAC definition of the “Government of Iran” because of their employment at entities owned by the Government of Iran. During first quarter 2025, before the accounts were closed and the funds, if any, were moved to a blocked account, there was some regular consumer activity in certain of the accounts, including customer deposits, withdrawals, and payments, and account maintenance activities. The Company’s gross revenue attributable to these accounts in 2025 was de minimis. The Company does not intend to engage in further activity with these accounts. ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS Not applicable. 11 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE INFORMATION ABOUT OUR EXECUTIVE OFFICERS Muneera S. Carr (age 57) Executive Vice President, Chief Accounting Officer and Controller since March 2020. Ms. Carr has served with the Company for 6 years. Bridget Engle (age 62) Senior Executive Vice President and Head of Technology since August 2024; Senior Executive Vice President, Chief Information Officer, and Global Head of Engineering at Bank of New York Mellon, a financial services company, from June 2017 to June 2024. Ms. Engle has served with the Company for 1 year. Kristy Fercho (age 59) Senior Executive Vice President and Head of Financial Inclusion since May 2025; Senior Executive Vice President leading efforts related to growth segments and inclusion from October 2022 to May 2025; Executive Vice President and Head of Home Lending from July 2020 to April 2023. Ms. Fercho has served with the Company for 5 years. Derek A. Flowers (age 54) Senior Executive Vice President and Chief Risk Officer since January 2022; Senior Executive Vice President and Head of Strategic Execution and Operations from June 2019 to January 2022. Mr. Flowers has served with the Company or its predecessors for 27 years. Kyle G. Hranicky (age 56) Senior Executive Vice President and CEO of Commercial Banking since September 2021; Executive Vice President and Head of Wells Fargo Middle Market Banking from August 2018 to September 2021. Mr. Hranicky has served with the Company or its predecessors for 31 years. Bei Ling (age 55) Senior Executive Vice President and Head of Human Resources since October 2021; Managing Director, Human Resources at JPMorgan Chase & Co., a financial services company, from April 2013 to September 2021. Ms. Ling has served with the Company for 4 years. Ellen R. Patterson (age 52) Senior Executive Vice President and General Counsel since March 2020. Ms. Patterson has served with the Company for 5 years. Scott E. Powell (age 63) Senior Executive Vice President and Chief Operating Officer since December 2019. Mr. Powell has served with the Company for 6 years. Fernando S. Rivas (age 51) Senior Executive Vice President and CEO of Corporate and Investment Banking since January 2025; Senior Executive Vice President and Co-CEO of Corporate and Investment Banking from May 2024 to January 2025; Managing Director, Investment Banking at JPMorgan Chase & Co., a financial services company, from September 2023 to February 2024; Head of North American Investment Banking at JPMorgan Chase & Co. from February 2020 to September 2023. Mr. Rivas has served with the Company for 1 year. Jason Rosenberg (age 48) Senior Executive Vice President and Head of Public Affairs since April 2024; Head of Corporate Affairs at Block, Inc., a financial services technology company, from September 2022 to April 2024; Managing Director, Head of U.S. Government Relations at JPMorgan Chase & Co., a financial services company, from October 2012 to September 2022. Mr. Rosenberg has served with the Company for 1 year. Michael P. Santomassimo (age 50) Senior Executive Vice President and Chief Financial Officer since October 2020. Mr. Santomassimo has served with the Company for 5 years. 12 Kleber R. Santos (age 52) Senior Executive Vice President and Co-CEO of Consumer Banking and Lending since November 2025; Senior Executive Vice President and CEO of Consumer Lending from July 2022 to November 2025; Senior Executive Vice President leading efforts related to growth segments and inclusion from November 2020 to October 2022. Mr. Santos has served with the Company for 5 years. Charles W. Scharf (age 60) Chairman, Chief Executive Officer and President since October 2025; Chief Executive Officer and President from October 2019 to October 2025. Mr. Scharf has served with the Company for 6 years. Barry Sommers (age 56) Senior Executive Vice President and CEO of Wealth and Investment Management since June 2020. Mr. Sommers has served with the Company for 5 years. Saul Van Beurden (age 56) Senior Executive Vice President, Co-CEO of Consumer Banking and Lending, and Head of Artificial Intelligence since November 2025; Senior Executive Vice President and CEO of Consumer, Small and Business Banking from May 2023 to November 2025; Senior Executive Vice President and Head of Technology from April 2019 to May 2023. Mr. Van Beurden has served with the Company for 6 years. There is no family relationship between any of the Company’s executive officers or directors. All executive officers serve at the pleasure of the Board of Directors. AUDIT COMMITTEE INFORMATION The Audit Committee is a standing audit committee of the Board of Directors established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934. The Committee has four members: Mark A. Chancy, Theodore F. Craver, Jr. (Chair), CeCelia G. Morken, and Ronald L. Sargent. Each member is independent, as independence for audit committee members is defined by NYSE rules. The Board of Directors has determined, in its business judgment, that each member of the Audit Committee is financially literate, as required by NYSE rules, and that Messrs. Chancy, Craver, Jr., and Sargent each qualifies as an “audit committee financial expert” as defined by SEC regulations. CODE OF CONDUCT The Company’s Code of Conduct applicable to employees (including executive officers) as well as directors, the Company’s corporate governance guidelines, and the charters for the Audit, Governance and Nominating, Human Resources, Finance, and Risk Committees are available at www.wellsfargo.com/about/corporate/governance . We intend to post on our website any amendments to, or waivers from, a provision of the Code of Conduct that applies to our directors or executive officers. 13 INSIDER TRADING POLICIES AND PROCEDURES The Company has adopted insider trading policies and procedures governing the purchase, sale, and/or other dispositions of the Company’s securities by directors, officers, employees, and the Company itself, that we believe are reasonably designed to promote compliance with insider trading laws, rules and regulations, and the listing standards of the NYSE applicable to us. These policies and procedures are reflected in (i) the section of our Code of Conduct related to insider trading and other trading restrictions, which is applicable to all employees and directors; (ii) our Insider Trading Activity Policy, which is applicable to directors, officers, and certain other employees; and (iii) our Company Securities Issuance and Repurchase Policy, which is applicable to transactions by the Company. Each of these documents is filed under Exhibit 19 to this Annual Report on Form 10-K. ADDITIONAL INFORMATION Additional information with respect to our directors, executive officers, and corporate governance in response to this Item 10 will be in the 2026 Proxy Statement and is incorporated into this item by reference. ITEM 11. EXECUTIVE COMPENSATION Information with respect to our executive officer and director compensation and with respect to the Human Resources Committee of the Board of Directors in response to this Item 11 will be in the 2026 Proxy Statement and is incorporated into this item by reference. ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS Information with respect to equity compensation plans, security ownership of certain beneficial owners of our common stock, and the security ownership of our management in response to this Item 12 will be in the 2026 Proxy Statement and is incorporated into this item by reference. ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE Information with respect to certain relationships and related transactions and director independence in response to this Item 13 will be in the 2026 Proxy Statement and is incorporated into this item by reference. ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES Information with respect to principal accountant fees and services in response to this Item 14 will be in the 2026 Proxy Statement and is incorporated into this item by reference. PART IV ITEM 15. EXHIBIT AND FINANCIAL STATEMENT SCHEDULES 1. FINANCIAL STATEMENTS The Company’s consolidated financial statements, including the Notes thereto, and the report of the independent registered public accounting firm thereon, are set forth in the 2025 Annual Report to Shareholders, and are incorporated into this item by reference. 2. FINANCIAL STATEMENT SCHEDULES All financial statement schedules for the Company have been included in the consolidated financial statements or the related footnotes, or are either inapplicable or not required. 14 3. EXHIBITS A list of exhibits to this Form 10-K is set forth below. Shareholders may obtain a copy of any of the following exhibits, upon payment of a reasonable fee, by writing to Wells Fargo & Company, Office of the Corporate Secretary, MAC J0193-610, 30 Hudson Yards, 61st Floor, New York, New York 10001-2170. The Company’s SEC file number is 001-2979. On and before November 2, 1998, the Company filed documents with the SEC under the name Norwest Corporation. The former Wells Fargo & Company filed documents under SEC file number 001-6214. The former Wachovia Corporation filed documents under SEC file number 001-10000. Exhibit Number Description Location 3(a) Restated Certificate of Incorporation, as amended and in effect on the date hereof. Incorporated by reference to Exhibit 3(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025. 3(b) By-Laws. Incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed July 31, 2025. 4(a) See Exhibits 3(a) and 3(b). 4(b) The Company agrees to furnish upon request to the Commission a copy of each instrument defining the rights of holders of senior and subordinated debt of the Company. 4(c) Description of Securities. Filed herewith. 10(a)* Wells Fargo & Company 2022 Long-Term Incentive Plan. Incorporated by reference to Exhibit 10(a) to the Company’s Current Report on Form 8-K filed April 29, 2022. Long-Term Incentive Compensation Plan (as amended and restated on April 23, 2019). Incorporated by reference to Exhibit 10(b) to the Company’s Current Report on Form 8-K filed April 26, 2019. Forms of Performance Share Award Agreement: For grants on or after January 2 6 , 202 6 ; Filed herewith. For grants on or after January 28, 2025; Incorporated by reference to Exhibit 10(a) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. For grants on or after January 23, 2024; and Incorporated by reference to Exhibit 10(a) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. For grants on or after January 24, 2023 . Incorporated by reference to Exhibit 10(a) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Forms of Restricted Share Rights Award Agreement: For grants on or after January 2 6 , 202 6 ; Filed herewith. For grant to Ch ief Exec utive Officer on J uly 29 , 202 5 ; Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed July 31, 2025. For grants on or after January 28, 2025; Incorporated by reference to Exhibit 10(a) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. For grants on or after January 23, 2024; Incorporated by reference to Exhibit 10(a) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. For grants to non-employee Directors on or after January 1, 2024; Incorporated by reference to Exhibit 10(a) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. For grants on or after January 24, 2023; and Incorporated by reference to Exhibit 10(a) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. * Management contract or compensatory plan or arrangement. 15 Exhibit Number Description Location For grants to non-employee Directors on or after January 1, 2023 . Incorporated by reference to Exhibit 10(a) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Form of Non-Qualified Stock Option Award Agreement for Chief Executive Officer grant on July 29, 2025 . Incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed July 31, 2025. 10(b)* Wells Fargo Bonus Plan, as amended effective January 1, 2026 ; and Filed herewith. Wells Fargo Bonus Plan, as amended effective January 1, 2025. Incorporated by reference to Exhibit 10(b) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. 10(c)* Deferred Compensation Plan, as amended and restated effective October 8, 2020. Incorporated by reference to Exhibit 10(c) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Deferred Compensation Plan, as amended effective January 1, 2008. Incorporated by reference to Exhibit 10(f) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2009. Amendment to Deferred Compensation Plan, effective July 1, 2023. Incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023. Amendment to Deferred Compensation Plan, effective January 1, 2022 . Incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022. Amendment to Deferred Compensation Plan, effective January 1, 2021. Incorporated by reference to Exhibit 10(c) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Amendment to Deferred Compensation Plan, effective December 31, 2018. Incorporated by reference to Exhibit 10(c) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Amendment to Deferred Compensation Plan, effective July 1, 2017. Incorporated by reference to Exhibit 10(c) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2017. Amendment to Deferred Compensation Plan, effective January 1, 2017. Incorporated by reference to Exhibit 10(d) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. Amendments to Deferred Compensation Plan, effective August 1, 2016 and January 1, 2017. Incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2016. Amendment to Deferred Compensation Plan, effective January 1, 2016. Incorporated by reference to Exhibit 10(e) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. Amendment to Deferred Compensation Plan, effective January 1, 2015. Incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2014. Amendment to Deferred Compensation Plan, effective January 1, 2013. Incorporated by reference to Exhibit 10(e) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. Amendment to Deferred Compensation Plan, effective January 1, 2011. Incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2011. Amendment to Deferred Compensation Plan, effective December 1, 2009. Incorporated by reference to Exhibit 10(f) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2009. 10(d)* Directors Stock Compensation and Deferral Plan. Incorporated by reference to Exhibit 10(f) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2007. 16 Exhibit Number Description Location Amendment to Directors Stock Compensation and Deferral Plan, effective April 1, 2013. Incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013. Amendment to Directors Stock Compensation and Deferral Plan, effective January 1, 2013. Incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2013. Amendment to Directors Stock Compensation and Deferral Plan, effective January 24, 2012. Incorporated by reference to Exhibit 10(f) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. Amendment to Directors Stock Compensation and Deferral Plan, effective January 25, 2011. Incorporated by reference to Exhibit 10(d) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2011. Amendment to Directors Stock Compensation and Deferral Plan, effective February 24, 2009. Incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2009. Amendments to Directors Stock Compensation and Deferral Plan, effective September 23, 2008. Incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2008. Amendment to Directors Stock Compensation and Deferral Plan, effective January 22, 2008. Incorporated by reference to Exhibit 10(f) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2007. Action of Governance and Nominating Committee Increasing Amount of Formula Stock and Option Awards Under Directors Stock Compensation and Deferral Plan, effective January 1, 2007. Incorporated by reference to Exhibit 10(f) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2006. Form of Non-Qualified Stock Option Agreement for grants to Directors on or before April 29, 2008. Incorporated by reference to Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013. 10(e)* Deferral Plan for Directors of the former Wells Fargo. Incorporated by reference to Exhibit 10(b) to the former Wells Fargo’s Annual Report on Form 10-K for the year ended December 31, 1997. Amendment to Deferral Plan, effective January 1, 2004. Incorporated by reference to Exhibit 10(d) to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2003. 10(f)* Supplemental 401(k) Plan. Incorporated by reference to Exhibit 10(c) to the Company’s Current Report on Form 8-K filed May 4, 2009. Amendment to Supplemental 401(k) Plan, effective July 1, 2023. Incorporated by reference to Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023. Amendment to Supplemental 401(k) Plan, effective January 1, 2022. Incorporated by reference to Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022. Amendment to Supplemental 401(k) Plan, effective January 1, 2021. Incorporated by reference to Exhibit 10(f) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Amendment to Supplemental 401(k) Plan, effective January 1, 2020. Incorporated by reference to Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. Amendment to Supplemental 401(k) Plan, effective December 31, 2018. Incorporated by reference to Exhibit 10(i) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Amendment to Supplemental 401(k) Plan, effective July 1, 2017. Incorporated by reference to Exhibit 10(d) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2017. Amendment to Supplemental 401(k) Plan, effective January 1, 2015. Incorporated by reference to Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2014. 17 Exhibit Number Description Location 10(g)* Supplemental Cash Balance Plan. Incorporated by reference to Exhibit 10(b) to the Company’s Current Report on Form 8-K filed May 4, 2009. Amendment to Supplemental Cash Balance Plan, effective July 1, 2023. Incorporated by reference to Exhibit 10(c) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023. Amendment to Supplemental Cash Balance Plan, effective January 1, 2022 . Incorporated by reference to Exhibit 10(c) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022. Amendment to Supplemental Cash Balance Plan, effective January 1, 2020. Incorporated by reference to Exhibit 10(c) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. Amendment to Supplemental Cash Balance Plan, effective February 1, 2019. Incorporated by reference to Exhibit 10(j) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Amendment to Supplemental Cash Balance Plan, effective December 31, 2018. Incorporated by reference to Exhibit 10(h) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Amendment to Supplemental Cash Balance Plan, effective July 1, 2017. Incorporated by reference to Exhibit 10(e) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2017. 10(h)* Supplemental Long-Term Disability Plan. Incorporated by reference to Exhibit 10(f) to the Company’s Annual Report on Form 10-K for the year ended December 31, 1990. Amendment to Supplemental Long-Term Disability Plan. Incorporated by reference to Exhibit 10(g) to the Company’s Annual Report on Form 10-K for the year ended December 31, 1992. 10(i)* Description of Relocation Program. Incorporated by reference to Exhibit 10(y) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2003. 10(j)* Description of Chairman/CEO Post-Retirement Policy. Incorporated by reference to Exhibit 10(w) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2008. 10(k)* Description of the Company’s Non-Employee Director Compensation Program, effective April 1, 2026 . Filed herewith. 10(l)* Amended and Restated Wachovia Corporation Elective Deferral Plan (as amended and restated effective January 1, 2009). Incorporated by reference to Exhibit (10)(a) to Wachovia Corporation’s Current Report on Form 8-K filed December 29, 2008. Amendment to the Wachovia Savings Restoration Plan, effective July 1, 2023. Incorporated by reference to Exhibit 10(d) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023. Amendment to Wachovia Corporation Elective Deferral Plan, effective January 1, 2022. Incorporated by reference to Exhibit 10(d) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022. Amendment to Elective Deferral Plan, effective January 1, 2020. Incorporated by reference to Exhibit 10(m) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Amendment to Elective Deferral Plan, effective December 31, 2018. Incorporated by reference to Exhibit 10(m) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Amendment to Elective Deferral Plan, effective July 1, 2017. Incorporated by reference to Exhibit 10(m) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Amendment to Elective Deferral Plan, effective August 1, 2016. Incorporated by reference to Exhibit 10(m) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. 18 Exhibit Number Description Location Amendment to Elective Deferral Plan, effective June 21, 2013. Incorporated by reference to Exhibit 10(m) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Amendment to Elective Deferral Plan, effective December 14, 2012. Incorporated by reference to Exhibit 10(m) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. 10(m)* Wachovia Corporation Executive Deferred Compensation Plan. Incorporated by reference to Exhibit (10)(d) to Wachovia Corporation’s Annual Report on Form 10-K for the year ended December 31, 1997. 10(n)* Wachovia Corporation Supplemental Executive Long-Term Disability Plan, as amended and restated. Incorporated by reference to Exhibit (99) to Wachovia Corporation’s Current Report on Form 8-K filed January 5, 2005. 10(o)* Amended and Restated Wachovia Corporation Savings Restoration Plan. Incorporated by reference to Exhibit 10(b) to Wachovia Corporation’s Current Report on Form 8-K filed December 29, 2008. Wachovia Corporation Savings Restoration Plan. Incorporated by reference to Exhibit 10(gg) to Wachovia Corporation’s Annual Report on Form 10-K for the year ended December 31, 2002. Amendment to Wachovia Corporation Savings Restoration Plan, effective January 1, 2022. Incorporated by reference to Exhibit 10(e) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022. Amendment to Wachovia Corporation Savings Restoration Plan, effective January 1, 2020. Incorporated by reference to Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. Amendment to Wachovia Corporation Savings Restoration Plan, effective December 31, 2018. Incorporated by reference to Exhibit 10(s) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Amendment to Wachovia Corporation Savings Restoration Plan, effective July 1, 2017. Incorporated by reference to Exhibit 10(f) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2017. Amendments to Wachovia Corporation Savings Restoration Plan, effective August 1, 2016. Incorporated by reference to Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2016. Amendment 2008-1 to Wachovia Corporation Savings Restoration Plan. Incorporated by reference to Exhibit 10(c) to Wachovia Corporation’s Current Report on Form 8-K filed December 29, 2008. Amendment 2007-1 to Wachovia Corporation Savings Restoration Plan. Incorporated by reference to Exhibit 10(b) to Wachovia Corporation’s Current Report on Form 8-K filed December 20, 2007. 10(p)* Amended and Restated SouthTrust Corporation Additional Retirement Benefit Plan (Pension) effective July 15, 1992, Addendum thereto dated April 20, 1994, and Amendment 2008-1 thereto dated December 29, 2008. Incorporated by reference to Exhibit 10(bb) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. 10(q)* Key/Specified Employee Policy. Incorporated by reference to Exhibit 10(v) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. 10(r)* Offer Letter to Charles W. Scharf, dated September 26, 2019. Incorporated by reference to Exhibit 10(a) to the Company’s Current Report on Form 8-K filed September 27, 2019. 19 Exhibit Number Description Location 13 2025 Annual Report to Shareholders. Filed herewith. 19(a) Provisions of Wells Fargo's Code of Conduct related to insider trading. Incorporated by reference to Exhibit 19(a) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. 19(b) Insider Trading Activity Policy. Incorporated by reference to Exhibit 19(b) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. 19(c) Company Securities Issuance and Repurchase Policy. Incorporated by reference to Exhibit 19(c) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. 21 Subsidiaries of the Company. Filed herewith. 22 Subsidiary guarantors and issuers of guaranteed securities and affiliates whose securities collateralize securities of the registrant. Filed herewith. 23 Consent of Independent Registered Public Accounting Firm. Filed herewith. 24 Powers of Attorney. Filed herewith. 31(a) Certification of principal executive officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. Filed herewith. 31(b) Certification of principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. Filed herewith. 32(a) Certification of Periodic Financial Report by Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and 18 U.S.C. § 1350. Furnished herewith. 32(b) Certification of Periodic Financial Report by Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and 18 U.S.C. § 1350. Furnished herewith. 97 Wells Fargo & Company Mandatory Clawback Policy, effective as of October 2, 2023. Incorporated by reference to Exhibit 97 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. 99 Description of Replacement Capital Covenants of Wells Fargo. Incorporated by reference to Exhibit 99 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. 101.SCH XBRL Taxonomy Extension Schema Document. Filed herewith. 101.CAL XBRL Taxonomy Extension Calculation Linkbase Document. Filed herewith. 101.LAB XBRL Taxonomy Extension Label Linkbase Document. Filed herewith. 101.PRE XBRL Taxonomy Extension Presentation Linkbase Document. Filed herewith. 101.DEF XBRL Taxonomy Extension Definitions Linkbase Document. Filed herewith. 104 Cover Page Interactive Data File. Formatted as Inline XBRL and contained in Exhibit 101. ITEM 16. FORM 10-K SUMMARY Not applicable. 20 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on February 24, 2026. WELLS FARGO & COMPANY By: /s/ CHARLES W. SCHARF Charles W. Scharf Chairman and Chief Executive Officer Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ CHARLES W. SCHARF Charles W. Scharf Chairman and Chief Executive Officer (Principal Executive Officer) February 24, 2026 By: /s/ MICHAEL P. SANTOMASSIMO Michael P. Santomassimo Senior Executive Vice President and Chief Financial Officer (Principal Financial Officer) February 24, 2026 By: /s/ MUNEERA S. CARR Muneera S. Carr Executive Vice President, Chief Accounting Officer and Controller (Principal Accounting Officer) February 24, 2026 The Directors of Wells Fargo & Company listed below have duly executed powers of attorney empowering Steven D. Black to sign this document on their behalf. Steven D. Black Richard K. Davis CeCelia G. Morken Ronald L. Sargent Mark A. Chancy Fabian T. Garcia Maria R. Morris Charles W. Scharf Celeste A. Clark Wayne M. Hewett Felicia F. Norwood Suzanne M. Vautrinot Theodore F. Craver, Jr. By: /s/ STEVEN D. BLACK Steven D. Black Director and Attorney-in-fact February 24, 2026 21