WELLS FARGO & COMPANY/MN (Form: 8-K, Received: 01/13/2023 06:46:47)

24Q22 Financial Results • Helped customers avoid overdraft fees and meet short-term cash needs: – Eliminated non-sufficient fund (NSF) fees – Eliminated transfer fees for customers enrolled in overdraft protection – Established Extra Day Grace Period which has helped ~3.4 million customers avoid overdraft fees by providing consumer customers an extra business day to cure negative balances and avoid overdraft fees – Rolled-out Early Pay Day, which provides consumer customers who receive eligible direct deposits the ability to access funds up to two days earlier – Launched Flex Loan, a digital only, small dollar, short-term credit product – Over 1.7 million Clear Access BankingSM accounts, our checking account with no overdraft fees • Banking Inclusion Initiative: Launched first 5 HOPE Inside Centers in Oakland, Houston, Greater Atlanta, Phoenix and Los Angeles as part of our work to introduce HOPE Inside Centers in 20 markets by the end of 2023, and redesign 100 branches in low‑ to moderate‑income neighborhoods across the nation • Helped over 244,000 homeowners with new loans to either purchase a home or refinance an existing mortgage • $3.5 billion in new commitments (including forward commitments) for affordable housing under the Government-sponsored enterprise (GSE) and Federal Housing Administration (FHA) programs (consisting of 35,900 total units including 33,700 rent restricted affordable units). Actively helped our customers in 2022 Supporting our Customers • Reimagined Wells Fargo Mobile® app for consumer and small business customers – 28.3 million mobile active customers1 – 6.6 billion mobile logins • Launched two credit cards – Wells Fargo AutographSM: our new reward card which provides 3x points across top spending categories of travel, dining, and streaming services – BILT Mastercard®: allows renters to earn rewards on rental payments which can be used towards a down payment on a home purchase • Relaunched Intuitive Investor®, a digitally automated investment platform, making it easier for customers to invest with a streamlined account opening and a lower minimum investment requirement of $500 • Introduced Wells Fargo Premier, a new integrated banking, lending and investment offering oriented towards the complex financial needs of our affluent clients • Launched Wells Fargo Vantage℠, a one-stop-shop digital banking experience for commercial and corporate clients which allows for the customization and personalization of the client experience • Continued the development of payment APIs for commercial and corporate clients, invested in solutions to support our financial institution clients, and began developing digital commercial lending solutions New Digital and Product Offerings 1. 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.

34Q22 Financial Results • Published the Wells Fargo CO2eMissionSM, a climate alignment and target- setting methodology for our financing portfolios, and set the first interim financed emissions targets for the Oil & Gas and Power sectors • Issued our second sustainability bond, the Inclusive Communities and Climate Bond, raising $2 billion in capital to support housing affordability, economic opportunity, renewable energy and clean transportation • Published our first sustainable finance progress report highlighting the $68 billion in financing towards sustainable activities and businesses which is 14% of our $500 billion goal • From the inception of our Renewable Energy & Environmental Finance (REEF) Group in 2005 to September 2022, REEF provided over $14.4 billion in financing to ~12% of the utility-scale wind and solar capacity in the U.S.1 • Published inaugural Diversity, Equity and Inclusion (DE&I) Report highlighting internal progress and external work supporting underserved communities • Continued efforts to sustain and grow employee-focused initiatives: – Completed inaugural Building Organizational Leadership Diversity (BOLD) program and launched the next cohort of participants – Continued the GLIDE – Relaunch returnship program hosting two cohorts with 105 fellows hired in 2022 with an overall cohort diversity rate of 87%2. Converted 88% of program hires into full-time employment upon program completion • Expanded on-demand DE&I training to all employees • Spent more than $1 billion with certified diverse suppliers Actively helped our customers, communities and employees in 2022 • Donated approximately $300 million to over 3,400 nonprofits in support of housing, small business, financial health, sustainability and other community needs – Included ~$15 million in grants to support sustainability-related philanthropic efforts • Strengthened local communities through ~ 700,000 hours of volunteer service from Wells Fargo employees • Launched $60 million Wealth Opportunities Restored through Homeownership (WORTH) program which aims to create 40,000 homebuyers of color in eight markets across the U.S. • Started Growing Diverse Housing Developers, a $40 million initiative to increase affordable housing supply and grow success of diverse housing developers • Collaborated with the National Urban League on new five-year Diverse Appraiser Program to increase diversity in the home appraiser industry in Charlotte, Atlanta and Houston • Continued support for our Open for Business Fund helping small business owners acquire commercial property, equipment and other upgrades • Distributed more than $22 million in grants for financial coaching to help people build savings, reduce debt, acquire assets, and improve credit • Expanded our business coaching and mentoring program with the Nasdaq Entrepreneurial Center to reach 1,200 women-owned small businesses Additional Actions to Support Our Communities Amounts in the bullets are for full year 2022, unless otherwise noted. 1. Source: US Energy Information Administration (EIA). Monthly Electricity Report. 2. 73% diverse by gender, 63% diverse by race/ethnicity and 3% diverse by veteran status. Supporting Sustainability Supporting Diversity, Equity and Inclusion (DE&I)

44Q22 Financial Results 4Q22 results Financial Results ROE: 6.4% ROTCE: 7.6%1 Efficiency ratio: 82%2 Credit Quality Capital and Liquidity CET1 ratio: 10.6%3 LCR: 122%4 TLAC ratio: 23.3%5 • Provision for credit losses of $957 million – Total net charge-offs of $560 million, up $137 million, with net loan charge-offs of 0.23% of average loans (annualized) – Allowance for credit losses of $13.6 billion, down $179 million from 4Q21 and included a $397 million increase in 4Q22 • Common Equity Tier 1 (CET1) capital of $133.5 billion3 • CET1 ratio of 10.6% under the Standardized Approach and 12.0% under the Advanced Approach3 Comparisons in the bullet points are for 4Q22 versus 4Q21, unless otherwise noted. 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. 3. The Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach is our binding CET1 ratio. See page 25 for additional information regarding CET1 capital and ratios. CET1 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. LCR is a preliminary estimate. 5. 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 is a preliminary estimate. 6. Impairments of equity securities, net of noncontrolling interests = $749 million. • Net income of $2.9 billion, or $0.67 per diluted common share. Results included: • Revenue of $19.7 billion, down 6% – Businesses divested in 2021 accounted for $1.1 billion of revenue in 4Q21, including $943 million in net gains on sales • Noninterest expense of $16.2 billion, up 23% – Businesses divested in 2021 accounted for ~$186 million of noninterest expense in 4Q21 • Effective income tax rate of (4.6)% included $510 million of discrete tax benefits related to interest on overpayments in prior years • Average loans of $948.5 billion, up 8% • Average deposits of $1.4 trillion, down 6% ($ in millions, except EPS) Pre-tax Income EPS Litigation, regulatory, and customer remediation matters, primarily related to a variety of previously disclosed historical matters ($3,287) ($0.70) Impairments of equity securities predominantly in our affiliated venture capital business6 (1,050) (0.15) Severance expense, primarily in Home Lending (353) (0.07) Discrete tax benefits 510 0.13

54Q22 Financial Results Capital Capital Position • Common Equity Tier 1 (CET1) ratio of 10.6%1 at December 31, 2022 remained above our regulatory minimum and buffers of 9.2%2 • CET1 ratio down ~80 bps from 4Q21 and reflected: – Decline in accumulated other comprehensive income driven by higher interest rates and wider agency mortgage-backed securities spreads resulted in a decline in the CET1 ratio of 85 bps Capital Return • Period-end common shares outstanding down 52.0 million, or 1%, year-over-year (YoY) • 4Q22 common stock dividend of $0.30 per share • Issued 38.5 million shares of common stock in 4Q22 predominantly associated with annual company contributions to our 401(k) plan • No common stock repurchases in 4Q22; we currently expect to resume common stock repurchases in 1Q23 Total Loss Absorbing Capacity (TLAC) • As of December 31, 2022, our TLAC as a percentage of total risk- weighted assets was 23.3%3 compared with the required minimum of 21.5% Common Equity Tier 1 Ratio under the Standardized Approach1 11.4% 10.5% 10.4% 10.3% 10.6% 4Q21 1Q22 2Q22 3Q22 4Q22 Estimated 1. The Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach is our binding CET1 ratio. See page 25 for additional information regarding CET1 capital and ratios. 4Q22 CET1 is a preliminary estimate. 2. Includes a 4.50% minimum requirement, a stress capital buffer of 3.20%, and a G-SIB capital surcharge of 1.50%. 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 is a preliminary estimate. 9.2% Regulatory Minimum and Buffers2

64Q22 Financial Results 4Q22 earnings 1. Tangible common equity 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” table on page 23. Quarter ended $ Change from Year ended $ Change from $ in millions (mm), except per share data 4Q22 3Q22 4Q21 3Q22 4Q21 2022 2021 2021 Net interest income $13,433 12,098 9,262 $1,335 4,171 $44,950 35,779 $9,171 Noninterest income 6,227 7,407 11,594 (1,180) (5,367) 28,835 42,713 (13,878) Total revenue 19,660 19,505 20,856 155 (1,196) 73,785 78,492 (4,707) Net charge-offs 560 399 423 161 137 1,609 1,582 27 Change in the allowance for credit losses 397 385 (875) 12 1,272 (75) (5,737) 5,662 Provision for credit losses 957 784 (452) 173 1,409 1,534 (4,155) 5,689 Noninterest expense 16,202 14,327 13,198 1,875 3,004 57,282 53,831 3,451 Pre-tax income 2,501 4,394 8,110 (1,893) (5,609) 14,969 28,816 (13,847) Income tax expense (benefit) (127) 894 1,711 (1,021) (1,838) 2,087 5,578 (3,491) Effective income tax rate (%) (4.6) % 20.2 22.8 (2,486) bps (2,747) 13.7 % 20.6 (690) bps Net income $2,864 3,528 5,750 ($664) (2,886) $13,182 21,548 ($8,366) Diluted earnings per common share $0.67 0.85 1.38 ($0.18) (0.71) $3.14 4.95 ($1.81) Diluted average common shares (# mm) 3,832.7 3,825.1 3,964.7 8 (132) 3,837.0 4,096.2 (259) Return on equity (ROE) 6.4 % 8.0 12.8 (161) bps (645) 7.5 % 12.0 (446) bps Return on average tangible common equity (ROTCE)1 7.6 9.6 15.3 (194) (764) 9.0 14.3 (534) Efficiency ratio 82 73 63 896 1,914 78 69 905

74Q22 Financial Results Credit quality • Commercial net loan charge-offs up $73 million to 6 bps of average loans (annualized) • Consumer net loan charge-offs up $88 million to 48 bps of average loans (annualized) driven by a $72 million increase in net loan charge-offs in credit card • Nonperforming assets increased $51 million, or 1%, as higher commercial real estate nonaccrual loans were partially offset by lower residential mortgage nonaccrual loans Provision for Credit Losses and Net Charge-offs ($ in millions) Allowance for Credit Losses for Loans ($ in millions) • Allowance for credit losses for loans increased primarily reflecting loan growth, as well as a less favorable economic environment – Allowance coverage for total loans up 2 bps from 3Q22 and down 12 bps from 4Q21 Comparisons in the bullet points are for 4Q22 versus 3Q22, unless otherwise noted. (452) (787) 580 784 957 423 305 345 399 560 Provision for Credit Losses Net Charge-offs Net Loan Charge-off Ratio 4Q21 1Q22 2Q22 3Q22 4Q22 13,788 12,681 12,884 13,225 13,609 7,791 7,148 7,082 6,991 6,956 5,997 5,533 5,802 6,234 6,653 Commercial Consumer Allowance coverage for total loans 4Q21 1Q22 2Q22 3Q22 4Q22 0.19% 0.14% 0.17%0.15% 0.23% 1.39% 1.54% 1.37% 1.40% 1.42%

84Q22 Financial Results Loans and deposits • Average loans up $73.5 billion, or 8%, YoY, and up $3.1 billion from 3Q22 driven by higher credit card loans and higher residential mortgage loans • Total average loan yield of 5.13%, up 181 bps YoY and up 85 bps from 3Q22 reflecting the impact of higher interest rates • Period-end loans up $60.5 billion, or 7%, YoY, and up $10.0 billion, or 1%, from 3Q22 driven by higher commercial & industrial loans and higher credit card loans • Average deposits down $89.5 billion, or 6%, YoY, and down $27.4 billion, or 2%, from 3Q22 predominantly reflecting consumer deposit outflows • Average deposit cost of 46 bps, up 32 bps from 3Q22 driven by higher deposit costs across all operating segments in response to rising interest rates Average Loans Outstanding ($ in billions) Average Deposits and Rates ($ in billions) 875.0 898.0 926.6 945.5 948.5 495.6 516.1 537.5 551.2 552.2 379.5 381.9 389.1 394.3 396.3 Commercial Loans Consumer Loans Total Average Loan Yield 4Q21 1Q22 2Q22 3Q22 4Q22 864.4 881.3 898.6 888.1 864.6 207.7 200.7 188.3 180.2 175.4 182.1 169.2 164.9 156.8 156.2 Corporate Wealth and Investment Management Corporate and Investment Banking Commercial Banking Consumer Banking and Lending 4Q21 1Q22 2Q22 3Q22 4Q22 3.32% 3.25% 3.52% 4.28% 5.13% Average Deposit Cost 4Q21 1Q22 2Q22 3Q22 4Q22 0.02% 0.03% 0.04% 0.14% 0.46% 42.124.420.327.134.9 Period-End Loans Outstanding ($ in billions) 4Q22 vs 3Q22 vs 4Q21 Commercial $ 557.5 1 % 9 % Consumer 398.4 1 % 4 % Total loans $ 955.9 1 % 7 % 180.9 158.4 142.2 173.7185.8 1,470.0 1,464.1 1,445.8 1,407.9 1,380.5

94Q22 Financial Results 9,262 9,221 10,198 12,098 13,433 Net Interest Income Net Interest Margin (NIM) on a taxable-equivalent basis 4Q21 1Q22 2Q22 3Q22 4Q22 3.14% Net interest income • Net interest income up $4.2 billion, or 45%, from 4Q21 primarily due to the impact of higher interest rates, higher loan balances, and lower mortgage- backed securities (MBS) premium amortization – 4Q22 MBS premium amortization was $174 million vs. $477 million in 4Q21 and $230 million in 3Q22 • Net interest income up $1.3 billion, or 11%, from 3Q22 primarily due to the impact of higher interest rates Net Interest Income ($ in millions) 2.11% 2.16% 2.39% 2.83% 1. Includes taxable-equivalent adjustments predominantly related to tax-exempt income on certain loans and securities. 1

104Q22 Financial Results Noninterest expense • Noninterest expense up $3.0 billion, or 23%, from 4Q21 – Operating losses up $3.0 billion reflecting $3.3 billion primarily related to a variety of previously disclosed historical matters, including litigation, regulatory, and customer remediation matters – Other expenses of $12.7 billion were stable ◦ Personnel expense down $60 million, or 1%, primarily reflecting lower revenue-related compensation, as well as the impact of efficiency initiatives and lower expense from business divestitures, partially offset by $353 million in severance expense primarily in Home Lending ◦ Non-personnel expense up $59 million, or 1% • Noninterest expense up $1.9 billion, or 13%, from 3Q22 – Operating losses up $1.3 billion reflecting $3.3 billion primarily related to a variety of previously disclosed historical matters, including litigation, regulatory, and customer remediation matters – Other expenses of $12.7 billion, up $576 million, or 5% ◦ Personnel expense up $203 million, or 2%, and included $353 million in severance expense primarily in Home Lending, partially offset by lower revenue-related expense, as well as the impact of efficiency initiatives ◦ Non-personnel expense up $373 million driven by typically higher 4Q expense in professional and outside services, technology, telecommunications and equipment, and advertising and promotion, as well as higher travel and entertainment expense Noninterest Expense ($ in millions) 13,198 13,870 12,883 14,327 16,202 8,475 9,271 8,442 8,212 8,415 4,211 3,926 3,865 3,897 4,270 512 673 576 2,218 3,517 Operating Losses Non-personnel Expense Personnel Expense 4Q21 1Q22 2Q22 3Q22 4Q22 Headcount (Period-end, '000s) 4Q21 1Q22 2Q22 3Q22 4Q22 249 247 244 239 239 1. 4Q21 noninterest expense included approximately $100 million of operating expenses associated with our Corporate Trust Services business and Wells Fargo Asset Management, which were sold on November 1, 2021. The approximately $100 million excludes expenses attributable to transition services agreements and corporate overhead. 2. The amount for December 31, 2022, will be updated at the time of the filing of our Form 10-K in February and may change. 1 Reasonably possible losses in excess of our accrual for legal actions • Our current estimate of the high end of the range of reasonably possible losses in excess of our accrual for legal actions as of December 31, 2022, is ~$1.4 billion2, down ~$2.3 billion from the ~$3.7 billion as of September 30, 2022

114Q22 Financial Results Consumer Banking and Lending • Total revenue up 8% YoY and up 2% from 3Q22 – CSBB up 36% YoY driven by the impact of higher interest rates; up 6% from 3Q22 as higher net interest income was partially offset by lower deposit- related fees reflecting our efforts to help customers avoid overdraft fees – Home Lending down 57% YoY on lower mortgage banking income driven by lower originations and gain on sale margins, as well as lower revenue from the resecuritization of loans purchased from securitization pools; down 19% from 3Q22 on lower revenue from the resecuritization of loans purchased from securitization pools, as well as lower mortgage originations and gain on sale margins – Credit Card up 6% YoY on higher loan balances, including the impact of higher point of sale volume and new product launches – Auto down 12% YoY due to loan spread compression and lower loan balances – Personal Lending up 9% YoY on higher loan balances, partially offset by loan spread compression • Noninterest expense up 16% YoY and up 5% from 3Q22 as higher operating losses and severance expense of $305 million were partially offset by lower revenue-related compensation in Home Lending, as well as the impact of efficiency initiatives 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. 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. Summary Financials $ in millions (mm) 4Q22 vs. 3Q22 vs. 4Q21 Revenue by line of business: Consumer and Small Business Banking (CSBB) $6,608 $376 1,736 Consumer Lending: Home Lending 786 (187) (1,057) Credit Card 1,353 4 82 Auto 413 (10) (57) Personal Lending 303 3 26 Total revenue 9,463 186 730 Provision for credit losses 936 19 810 Noninterest expense 7,088 330 962 Pre-tax income 1,439 (163) (1,042) Net income $1,077 ($124) (785) Selected Metrics 4Q22 3Q22 4Q21 Return on allocated capital1 8.3 % 9.4 14.8 Efficiency ratio2 75 73 70 Retail bank branches # 4,598 4,612 4,777 Digital (online and mobile) active customers3 (mm) 33.5 33.6 33.0 Mobile active customers3 (mm) 28.3 28.3 27.3 Average Balances and Selected Credit Metrics $ in billions 4Q22 3Q22 4Q21 Balances Loans $338.0 335.6 325.4 Deposits 864.6 888.0 864.4 Credit Performance Net charge-offs as a % of average loans 0.62 % 0.51 0.50

124Q22 Financial Results Consumer Banking and Lending Mortgage Loan Originations ($ in billions) Auto Loan Originations ($ in billions) Credit Card POS Volume ($ in billions) Debit Card Point of Sale (POS) Volume and Transactions1 1. Debit card purchase volume and transactions reflect combined activity for both consumer and business debit card purchases. 48.1 37.9 34.1 21.5 14.632.8 24.1 19.6 12.4 8.2 15.3 13.8 14.5 9.1 6.4 Retail Correspondent Refinances as a % of Originations 4Q21 1Q22 2Q22 3Q22 4Q22 122.4 115.0 125.2 122.4 124.0 POS Volume ($ in billions) POS Transactions (billions) 4Q21 1Q22 2Q22 3Q22 4Q22 9.4 7.3 5.4 5.4 5.0 4Q21 1Q22 2Q22 3Q22 4Q22 27.5 26.0 30.1 30.7 32.3 4Q21 1Q22 2Q22 3Q22 4Q22 2.5 2.3 2.5 2.5 2.5 59% 56% 28% 16% 13%

134Q22 Financial Results Commercial Banking • Total revenue up 38% YoY and up 7% from 3Q22 – Middle Market Banking revenue up 78% YoY primarily due to the impact of higher interest rates and higher loan balances, partially offset by lower deposit balances and lower deposit-related fees driven by the impact of higher earnings credit rates (ECRs), which result in lower fees for commercial customers; up 16% from 3Q22 due to the impact of higher interest rates and higher loan balances, partially offset by higher ECRs and lower deposit balances – Asset-Based Lending and Leasing revenue down 4% YoY and down 7% from 3Q22 driven by lower net gains from equity securities, partially offset by loan growth • Noninterest expense up 9% YoY primarily due to higher personnel expense and operating losses, partially offset by the impact of efficiency initiatives Summary Financials $ in millions 4Q22 vs. 3Q22 vs. 4Q21 Revenue by line of business: Middle Market Banking $2,076 $283 909 Asset-Based Lending and Leasing 1,073 (86) (44) Total revenue 3,149 197 865 Provision for credit losses (43) 125 341 Noninterest expense 1,523 (3) 130 Pre-tax income 1,669 75 394 Net income $1,238 $56 284 Selected Metrics 4Q22 3Q22 4Q21 Return on allocated capital 24.2 % 23.1 18.5 Efficiency ratio 48 52 61 Average loans by line of business ($ in billions) Middle Market Banking $119.7 117.0 103.6 Asset-Based Lending and Leasing 98.7 92.0 81.0 Total loans $218.4 209.0 184.6 Average deposits 175.4 180.2 207.7

144Q22 Financial Results Corporate and Investment Banking • Total revenue up 18% YoY and up 2% from 3Q22 – Banking revenue up 22% YoY driven by stronger treasury management results due to the impact of higher interest rates and higher lending revenue on higher loan balances, partially offset by lower investment banking fees reflecting lower market activity; up 4% from 3Q22 predominantly driven by stronger treasury management results reflecting higher interest rates, partially offset by lower investment banking fees – Commercial Real Estate revenue up 16% YoY driven by higher loan balances and the impact of higher interest rates; up 5% from 3Q22 predominantly driven by stronger lending results and treasury management results, partially offset by lower commercial mortgage-backed securities gain on sale margins and volumes – Markets revenue up 17% YoY driven by higher trading revenue in equities, rates and commodities, foreign exchange, and municipal products; down 5% from 3Q22 reflecting lower equities and credit products trading revenue, partially offset by higher trading revenue in municipal products • Noninterest expense up 4% YoY driven by higher operating costs and salaries expense, partially offset by the impact of efficiency initiatives; down 3% from 3Q22 on lower personnel expense and lower operating costs Summary Financials $ in millions 4Q22 vs. 3Q22 vs. 4Q21 Revenue by line of business: Banking: Lending $593 $13 74 Treasury Management and Payments 738 68 365 Investment Banking 317 (19) (147) Total Banking 1,648 62 292 Commercial Real Estate 1,267 55 172 Markets: Fixed Income, Currencies and Commodities (FICC) 935 21 141 Equities 279 (37) 74 Credit Adjustment (CVA/DVA) and Other (35) (52) (48) Total Markets 1,179 (68) 167 Other 45 30 (4) Total revenue 4,139 79 627 Provision for credit losses 41 9 235 Noninterest expense 1,837 (63) 72 Pre-tax income 2,261 133 320 Net income $1,692 $100 238 Selected Metrics 4Q22 3Q22 4Q21 Return on allocated capital 17.7 % 16.6 16.0 Efficiency ratio 44 47 50 Average Balances ($ in billions) Loans by line of business 4Q22 3Q22 4Q21 Banking $104.2 109.9 101.6 Commercial Real Estate 137.7 137.6 116.6 Markets 56.4 58.7 53.8 Total loans $298.3 306.2 272.0 Deposits 156.2 156.8 182.1 Trading-related assets 189.2 184.5 195.9

154Q22 Financial Results Wealth and Investment Management Summary Financials $ in millions 4Q22 vs. 3Q22 vs. 4Q21 Net interest income $1,124 $36 458 Noninterest income 2,571 (6) (411) Total revenue 3,695 30 47 Provision for credit losses 11 3 14 Noninterest expense 2,731 (65) (167) Pre-tax income 953 92 200 Net income $715 $76 151 Selected Metrics ($ in billions, unless otherwise noted) 4Q22 3Q22 4Q21 Return on allocated capital 31.9 % 28.4 25.0 Efficiency ratio 74 76 79 Average loans $84.8 85.5 84.0 Average deposits 142.2 158.4 180.9 Client assets Advisory assets 797 756 964 Other brokerage assets and deposits 1,064 1,003 1,219 Total client assets $1,861 1,759 2,183 Annualized revenue per advisor ($ in thousands)1 1,230 1,212 1,171 Total financial and wealth advisors 12,027 12,011 12,367 1. Represents annualized segment total revenue divided by average total financial and wealth advisors for the period. • Total revenue up 1% YoY and up 1% from 3Q22 – Net interest income up 69% YoY and up 3% from 3Q22 driven by the impact of higher interest rates, partially offset by lower deposit balances as customers continued to reallocate cash into higher yielding alternatives – Noninterest income down 14% YoY on lower asset-based fees driven by a decrease in market valuations • Noninterest expense down 6% YoY and down 2% from 3Q22 reflecting lower revenue-related compensation and the impact of efficiency initiatives

164Q22 Financial Results Corporate • Net interest income up YoY due to the impact of higher interest rates – Business divestitures in 2021 accounted for $27 million of net interest income in 4Q21 • Noninterest income down YoY due to lower results in our affiliated venture capital and private equity businesses, including $1.0 billion of impairments of equity securities in 4Q22 driven by market conditions, and net gains in 4Q21 from the sales of our Corporate Trust Services business and Wells Fargo Asset Management, partially offset by the impairment of certain leased rail cars in 4Q21 – Business divestitures in 2021 accounted for $1.1 billion of noninterest income in 4Q21, including a $674 million net gain on the sale of our Corporate Trust Services business and a $269 million net gain on the sale of Wells Fargo Asset Management • Noninterest expense up YoY due to higher operating losses, partially offset by the impact of business divestitures – Business divestitures in 2021 accounted for ~$186 million of noninterest expense in 4Q21 Summary Financials $ in millions 4Q22 vs. 3Q22 vs. 4Q21 Net interest income $78 $326 498 Noninterest income (367) (651) (3,907) Total revenue (289) (325) (3,409) Provision for credit losses 12 17 9 Noninterest expense 3,023 1,676 2,007 Pre-tax income (3,324) (2,018) (5,425) Income tax expense (benefit) (1,227) (1,038) (1,765) Less: Net income from noncontrolling interests (239) (208) (886) Net loss ($1,858) ($772) (2,774)

174Q22 Financial Results $45.0 GAAP Full Year 2022 Rates/Repricing Balance Sheet/Mix CIB Markets NII Full Year 2023 2023 net interest income considerations 2023 Net Interest Income Considerations • 2023 net interest income could potentially be ~ 10% higher than the full year 2022 level of $45.0 billion – Based on recent implied forward rates – Balance sheet/mix expectations driven by deposit run-off and mix shift, partially offset by modest loan growth – Expected decline in CIB Markets net interest income due to higher funding costs, partially offset by an increase in net trading gains in noninterest income – Expectations assume the asset cap will remain in place for 2023 • Net interest income performance will ultimately be determined by a variety of factors, many of which are uncertain, including the absolute level of rates and the shape of the yield curve; deposit balances, mix and pricing; and loan demand Potential for a ~10% increase ($ in billions) Forward Rate Curve as of 1/9/23 Average rates 1Q23 2Q23 3Q23 4Q23 Fed Funds 4.72 % 5.06 5.05 4.80 10-year Treasury 3.52 3.50 3.48 3.47

184Q22 Financial Results 1.7 0.5 Identified efficiency initiatives Incremental Investments Other $57.3 $50.3 1.0 $50.2 2022 Expense 2022 Expense (excluding operating losses) 2023 Outlook (excluding operating losses) 2023 Expense Expectations (Excluding Operating Losses) 2023 expense expectations Building the right risk and control infrastructure to strengthen our Company remains our top priority • 2023 expense expectations (excluding operating losses) – Merit increases including inflationary pressures; FDIC expense increase from higher FDIC surcharge (~+$250 million) – Lower revenue-related expense driven primarily by decreases in Home Lending; Wealth and Investment Management revenue-related expense assumed flat at current market levels – Incremental investments primarily related to personnel investments (largely in Technology, Corporate & Investment Banking, and Commercial Banking) and higher marketing spend in Consumer Banking and Lending • Efficiency initiatives – Delivered on commitment of ~$7.5 billion of gross expense saves in 2021-2022 – 2023 opportunities include: ◦ Consumer Banking – branch footprint and staffing ◦ Technology driven efficiencies – streamline operations and increase automation ◦ Consumer Lending – optimization of Home Lending ◦ Real estate – incremental ~5% reduction in office real estate ◦ Focus on third party spending – Continue to see more opportunities past 2023 • Operating losses (not included in 2023 outlook) – Currently anticipate ~$1.3 billion of ongoing business-related operating losses in 2023, such as fraud, theft and other business as usual losses – As previously disclosed, we have outstanding litigation, regulatory, and customer remediation matters that could impact operating losses 2022 Operating Losses ($ in billions) Expected net expense reduction details Expected merit increases, FDIC expense Expected net expense reduction Expected revenue- related expense ~ (7.0) (0.1) (1.0) $(3.2)

194Q22 Financial Results Investing to support our customers • Targeted Investment Banking coverage and product hires • Focused buildout of coverage in under penetrated markets in Commercial Banking • Attract experienced Financial Advisors and enhance the comprehensive tools they use to support customers Areas of focus for 2023 investments Improving payments products which are at the heart of our customers’ daily financial activities • Credit card -- including new products and service enhancements and additional marketing, e.g., latest launch of AutographSM • Digital lending experiences such as Flex Loan • Global treasury services for commercial clients • Digital and real-time payment capabilities Payments ProductsRisk and Controls Digital Operations and BranchesClient Coverage Technology Continuing to transform our tech platforms • Allowing customers and clients to experience the bank as one company by a streamlined banking platform • Moving more applications to public/private cloud to increase scalability and improve speed to market • Consolidation of our data center footprint • Continued investment in cybersecurity Continuing to build the right risk and control infrastructure to strengthen our Company remains our top priority • Continued upgrading of our risk management infrastructure and remediating legacy regulatory issues Building experiences for customers that are streamlined, intuitive and transparent • For consumers, improvements such as: – Further enhancements to Wells Fargo Mobile® app – Fargo, a financial digital assistant – LifeSync, a comprehensive advice platform – Intuitive Investor®, automated investment platform • For commercial clients, additional enhancements to Wells Fargo Vantage℠ Automating and upgrading our physical presence and operations processes to drive efficiency and better customer service • Operations improvements include contact center upgrades, automated fraud detection and claims handling • Renovation of existing branch footprint to help improve customer experience • Optimize ATM technology and footprint • Strengthen marketing capabilities to drive new account acquisition for consumer customers

204Q22 Financial Results 8% 8% 9% 4Q22 ROTCE 4Q22 Adjusted ROTCE 4Q22 Return on tangible common equity (ROTCE)1 ~16% 8% • 4Q22 ROE of 6%; 4Q22 ROTCE of 8%1 • 4Q22 adjusted ROTCE4 excluded the following notable items3: – $3.3 billion of operating losses related to litigation, regulatory, and customer remediation matters – Elevated impairments of equity securities, severance and discrete tax benefits • Other factors to consider: – Net interest income was higher than our long-term expectations due to interest rates, funding balances, mix, and pricing – Net loan charge-off levels were below our long-term expectations • As a result, we believe we have additional work to do to achieve our medium-term ROTCE goal on a sustainable basis 4Q22 ROTCE2 ~ 1. Tangible common equity 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” table on page 23. 2. Numbers in the chart do not add to the total due to rounding. 3. 4Q22 notable items included $3.3 billion of operating losses related to litigation, regulatory, and customer remediation matters; $1.0 billion of impairments of equity securities; $353 million of severance expense; and $510 million of discrete tax benefits. For additional information on notable items, see pages 4 and 24. 4. Adjusted return on average 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 23-24. Excluded 4Q22 notable items 3 As reported 4

214Q22 Financial Results ~ • Clear, achievable path to a sustainable ~15% ROTCE in the medium-term; requires: – Capital optimization and continued progress on efficiency initiatives ◦ Capital return and redeploying capital to higher returning products and businesses ◦ Improving the efficiency ratios of our operating segments and underlying businesses – Returns on growth-related investments ◦ Investments include: • Credit card • Improving segmentation of our customer base including a focus on the affluent strategy • Increase deposit and lending penetration in Wealth and Investment Management • Investment Banking • On our 4Q20 earnings call we laid out a path to higher returns; ROTCE in 4Q20 was 8%1 • We executed on our efficiency initiatives outlined on our 4Q20 earnings call – Delivered ~$7.5 billion of gross expense saves – Reduced headcount by nearly 30,000, or 11% • We executed on our capital return outlined on our 4Q20 earnings call – Returned $16 billion in net common stock repurchases – Increased our common stock dividend from $0.10 per share to $0.30 per share Progress since 4Q20 Path to medium-term ROTCE Longer-term ROTCE Our top priority remains continuing to build a risk and control infrastructure appropriate for the size and complexity of Wells Fargo • Continued execution on running the company in a more controlled and disciplined manner • Our goal is for our four operating segments to produce returns comparable to our best peers Note: Path to higher returns represents a hypothetical scenario. 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. Path to higher returns

Appendix

234Q22 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 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, except ratios) Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2022 Dec 31, 2021 Return on average tangible common equity: Net income applicable to common stock (A) $ 2,585 3,250 2,839 3,393 5,470 2,741 $ 12,067 20,256 Average total equity 182,549 183,037 181,016 186,337 190,744 185,444 183,224 191,219 Adjustments: Preferred stock1 (19,553) (20,057) (20,057) (20,057) (20,267) (21,223) (19,930) (21,151) Additional paid-in capital on preferred stock1 166 135 135 134 120 156 143 137 Unearned ESOP shares1 112 646 646 646 872 875 512 874 Noncontrolling interests (2,185) (2,258) (2,386) (2,468) (2,119) (887) (2,323) (1,601) Average common stockholders’ equity (B) 161,089 161,503 159,354 164,592 169,350 164,365 161,626 169,478 Adjustments: Goodwill (25,173) (25,177) (25,179) (25,180) (25,569) (26,390) (25,177) (26,087) Certain identifiable intangible assets (other than MSRs) (160) (181) (200) (218) (246) (354) (190) (294) Goodwill and other intangibles on investments in consolidated portfolio companies (included in other assets) (2,378) (2,359) (2,304) (2,395) (2,309) (1,889) (2,359) (2,226) Applicable deferred taxes related to goodwill and other intangible assets2 890 886 877 803 848 852 864 867 Average tangible common equity (C) $ 134,268 134,672 132,548 137,602 142,074 136,584 $ 134,764 141,738 Return on average common stockholders’ equity (ROE) (annualized) (A)/(B) 6.4 % 8.0 7.1 8.4 12.8 6.6 7.5 % 12.0 Return on average tangible common equity (ROTCE) (annualized) (A)/(C) 7.6 9.6 8.6 10.0 15.3 8.0 9.0 14.3 1. In fourth quarter 2022, we redeemed all outstanding shares of our ESOP Cumulative Convertible Preferred Stock in exchange for shares of the Company’s common stock. 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.

244Q22 Financial Results Tangible Common Equity, continued Wells Fargo & Company and Subsidiaries TANGIBLE COMMON EQUITY In fourth quarter 2022, we adjusted ROTCE to consider notable items that occurred in the quarter. Management believes that adjusted ROTCE is a useful financial measure because it enables management, investors, and others to assess the Company’s use of equity considering notable items that occurred in fourth quarter 2022. The table below provides a reconciliation of this non-GAAP financial measure to GAAP financial measures. Quarter ended (in millions, except ratios) Dec 31, 2022 Return on average tangible common equity: Net income applicable to common stock (A) $ 2,585 Adjustments for notable items: Operating losses related to litigation, regulatory, and customer remediation matters 3,287 Impairments of equity securities, net of noncontrolling interests 749 Severance expense 353 Discrete tax benefits (510) Applicable tax effect related to notable items1 (892) Adjusted net income applicable to common stock (B) 5,572 Average total equity 182,549 Adjustments: Preferred stock2 (19,553) Additional paid-in capital on preferred stock2 166 Unearned ESOP shares2 112 Noncontrolling interests (2,185) Average common stockholders’ equity (C) 161,089 Adjustments: Goodwill (25,173) Certain identifiable intangible assets (other than MSRs) (160) Goodwill and other intangibles on investments in consolidated portfolio companies (included in other assets) (2,378) Applicable deferred taxes related to goodwill and other intangible assets3 890 Average tangible common equity (D) $ 134,268 Return on average common stockholders’ equity (ROE) (annualized) (A)/(C) 6.4 % Return on average tangible common equity (ROTCE) (annualized) (A)/(D) 7.6 Adjusted return on average tangible common equity (adjusted ROTCE) (annualized) (B)/(D) 16.5 1. Determined by applying the combined federal statutory rate and composite state income tax rates to notable items in fourth quarter 2022. 2. In fourth quarter 2022, we redeemed all outstanding shares of our ESOP Cumulative Convertible Preferred Stock in exchange for shares of the Company’s common stock. 3. 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.

254Q22 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. In fourth quarter 2022, we redeemed all outstanding shares of our ESOP Cumulative Convertible Preferred Stock in exchange for shares of the Company’s common stock. 3. 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. 4. In second quarter 2020, the Company elected to apply a modified transition provision issued by federal banking regulators related to the impact of CECL on regulatory capital. The rule permits certain banking organizations to exclude from regulatory capital the initial adoption impact of CECL, plus 25% of the cumulative changes in the allowance for credit losses (ACL) under CECL for each period until December 31, 2021, followed by a three-year phase-out period in which the benefit is reduced by 25% in year one, 50% in year two and 75% in year three. Common Equity Tier 1 under Basel III Wells Fargo & Company and Subsidiaries RISK-BASED CAPITAL RATIOS UNDER BASEL III1 Estimated (in billions, except ratio) Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Total equity $ 181.9 178.4 179.8 181.7 190.1 Adjustments: Preferred stock2 (19.4) (20.1) (20.1) (20.1) (20.1) Additional paid-in capital on preferred stock2 0.1 0.1 0.2 0.1 0.1 Unearned ESOP shares2 — 0.7 0.7 0.7 0.7 Noncontrolling interests (2.0) (2.2) (2.3) (2.4) (2.5) Total common stockholders' equity 160.6 156.9 158.3 160.0 168.3 Adjustments: Goodwill (25.2) (25.2) (25.2) (25.2) (25.2) Certain identifiable intangible assets (other than MSRs) (0.2) (0.2) (0.2) (0.2) (0.2) Goodwill and other intangibles on investments in consolidated portfolio companies (included in other assets) (2.4) (2.4) (2.3) (2.3) (2.4) Applicable deferred taxes related to goodwill and other intangible assets3 0.9 0.9 0.9 0.9 0.8 Current expected credit loss (CECL) transition provision4 0.2 0.2 0.2 0.2 0.2 Other (0.4) (0.4) (1.6) (1.1) (0.9) Common Equity Tier 1 (A) $ 133.5 129.8 130.1 132.3 140.6 Total risk-weighted assets (RWAs) under Standardized Approach (B) 1,259.7 1,255.6 1,253.6 1,265.5 1,239.0 Total RWAs under Advanced Approach (C) 1,112.2 1,104.1 1,121.6 1,119.5 1,116.1 Common Equity Tier 1 to total RWAs under Standardized Approach (A)/(B) 10.6 % 10.3 10.4 10.5 11.4 Common Equity Tier 1 to total RWAs under Advanced Approach (A)/(C) 12.0 11.8 11.6 11.8 12.6

264Q22 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, 2022, 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, including our outlook for future growth; (ii) our noninterest expense and 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 performance of our mortgage business and any related exposures; (viii) the expected outcome and impact of legal, regulatory and legislative developments, as well as our expectations regarding compliance therewith; (ix) future common stock dividends, common share repurchases and other uses of capital; (x) our targeted range for return on assets, return on equity, and return on tangible common equity; (xi) expectations regarding our effective income tax rate; (xii) the outcome of contingencies, such as legal proceedings; (xiii) environmental, social and governance related goals or commitments; and (xiv) 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 could 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 more information about factors that could cause actual results to differ materially from expectations, refer to the “Forward-Looking Statements” discussion in Wells Fargo’s press release announcing our fourth quarter 2022 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, 2021.


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 5.85% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series Q	WFC.PRQ	NYSE
Depositary Shares, each representing a 1/1000th interest in a share of 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series R	WFC.PRR	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 13, 2023	Filed herewith
99.2	4Q22 Quarterly Supplement	Filed herewith
99.3	Presentation Materials – 4Q22 Financial Results	Furnished herewith, except for the “2023 net interest income considerations” portion on page 17, which portion is deemed filed herewith
104	Cover Page Interactive Data File	Embedded within the Inline XBRL document


Dated:	January 13, 2023	WELLS FARGO & COMPANY

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


	Quarter ended							Dec 31, 2022 % Change from			Year ended
($ in millions, unless otherwise noted)	Dec 31, 2022			Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2022		Dec 31, 2021	Dec 31, 2022		Dec 31, 2021	% Change
Selected Balance Sheet Data (average)
Loans	$	948,517		945,465	926,567	898,005	875,036	—	%	8	$	929,820	864,288	8	%
Assets	1,875,217			1,880,690	1,902,571	1,919,392	1,943,430	—		(4)	1,894,309		1,941,905	(2)
Deposits	1,380,459			1,407,851	1,445,793	1,464,072	1,470,027	(2)		(6)	1,424,269		1,437,812	(1)

Selected Balance Sheet Data (period-end)
Debt securities	496,808			502,035	516,772	535,916	537,531	(1)		(8)
Loans	955,871			945,906	943,734	911,807	895,394	1		7
Allowance for credit losses for loans	13,609			13,225	12,884	12,681	13,788	3		(1)
Equity securities	64,414			59,560	61,774	70,755	72,886	8		(12)
Assets	1,881,016			1,877,745	1,881,142	1,939,709	1,948,068	—		(3)
Deposits	1,383,985			1,398,151	1,425,153	1,481,354	1,482,479	(1)		(7)

Headcount (#) (period-end)	238,698			239,209	243,674	246,577	249,435	—		(4)

Capital and other metrics (1)
Risk-based capital ratios and components (2):
Standardized Approach:
Common Equity Tier 1 (CET1)	10.6		%	10.3	10.4	10.5	11.4
Tier 1 capital	12.1			11.9	11.9	12.0	12.9
Total capital	14.8			14.6	14.6	14.7	15.8
Risk-weighted assets (RWAs) (in billions)	$	1,259.7		1,255.6	1,253.6	1,265.5	1,239.0	—		2

Advanced Approach:
Common Equity Tier 1 (CET1)	12.0		%	11.8	11.6	11.8	12.6
Tier 1 capital	13.7			13.5	13.3	13.5	14.3
Total capital	15.9			15.7	15.6	15.9	16.7
Risk-weighted assets (RWAs) (in billions)	$	1,112.2		1,104.1	1,121.6	1,119.5	1,116.1	1		—

Tier 1 leverage ratio	8.3		%	8.0	8.0	8.0	8.3
Supplementary Leverage Ratio (SLR)	6.9			6.7	6.6	6.6	6.9
Total Loss Absorbing Capacity (TLAC) Ratio (3)	23.3			23.0	22.7	22.3	23.0
Liquidity Coverage Ratio (LCR) (4)	122			123	121	119	118


	Quarter ended						Dec 31, 2022 % Change from			Year ended
(in millions, except per share amounts)	Dec 31, 2022		Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2022		Dec 31, 2021	Dec 31, 2022		Dec 31, 2021	% Change







Interest income	$	17,793	14,494	11,556	10,181	10,121	23	%	76	$	54,024	39,694	36	%





Interest expense	4,360		2,396	1,358	960	859	82		408	9,074		3,915	132
Net interest income	13,433		12,098	10,198	9,221	9,262	11		45	44,950		35,779	26
Noninterest income
Deposit-related fees	1,178		1,289	1,376	1,473	1,462	(9)		(19)	5,316		5,475	(3)
Lending-related fees	344		358	353	342	357	(4)		(4)	1,397		1,445	(3)
Investment advisory and other asset-based fees	2,049		2,111	2,346	2,498	2,579	(3)		(21)	9,004		11,011	(18)
Commissions and brokerage services fees	601		562	542	537	558	7		8	2,242		2,299	(2)
Investment banking fees	331		375	286	447	669	(12)		(51)	1,439		2,354	(39)
Card fees	1,095		1,119	1,112	1,029	1,071	(2)		2	4,355		4,175	4
Mortgage banking	79		324	287	693	1,035	(76)		(92)	1,383		4,956	(72)
Net gains (losses) from trading activities	552		900	446	218	(177)	(39)		412	2,116		284	645
Net gains from debt securities	—		6	143	2	119	(100)		(100)	151		553	(73)
Net gains (losses) from equity securities	(733)		(34)	(615)	576	2,470	NM		NM	(806)		6,427	NM
Lease income	287		322	333	327	46	(11)		524	1,269		996	27
Other	444		75	221	229	1,405	492		(68)	969		2,738	(65)
Total noninterest income	6,227		7,407	6,830	8,371	11,594	(16)		(46)	28,835		42,713	(32)
Total revenue	19,660		19,505	17,028	17,592	20,856	1		(6)	73,785		78,492	(6)



Provision for credit losses	957		784	580	(787)	(452)	22		312	1,534		(4,155)	137
Noninterest expense
Personnel	8,415		8,212	8,442	9,271	8,475	2		(1)	34,340		35,541	(3)
Technology, telecommunications and equipment	902		798	799	876	827	13		9	3,375		3,227	5
Occupancy	722		732	705	722	725	(1)		—	2,881		2,968	(3)
Operating losses	3,517		2,218	576	673	512	59		587	6,984		1,568	345
Professional and outside services	1,357		1,235	1,310	1,286	1,468	10		(8)	5,188		5,723	(9)
Leases (1)	191		186	185	188	195	3		(2)	750		867	(13)
Advertising and promotion	178		126	102	99	225	41		(21)	505		600	(16)
Restructuring charges	—		—	—	5	66	NM		(100)	5		76	(93)
Other	920		820	764	750	705	12		30	3,254		3,261	—
Total noninterest expense	16,202		14,327	12,883	13,870	13,198	13		23	57,282		53,831	6
Income before income tax expense	2,501		4,394	3,565	4,509	8,110	(43)		(69)	14,969		28,816	(48)
Income tax expense (benefit)	(127)		894	613	707	1,711	NM		NM	2,087		5,578	(63)
Net income before noncontrolling interests	2,628		3,500	2,952	3,802	6,399	(25)		(59)	12,882		23,238	(45)
Less: Net income (loss) from noncontrolling interests	(236)		(28)	(167)	131	649	NM		NM	(300)		1,690	NM
Wells Fargo net income	$	2,864	3,528	3,119	3,671	5,750	(19)	%	(50)	$	13,182	21,548	(39)	%
Less: Preferred stock dividends and other	279		278	280	278	280	—		—	1,115		1,292	(14)
Wells Fargo net income applicable to common stock	$	2,585	3,250	2,839	3,393	5,470	(20)	%	(53)	$	12,067	20,256	(40)	%
Per share information
Earnings per common share	$	0.68	0.86	0.75	0.89	1.39	(21)	%	(51)	$	3.17	4.99	(36)	%
Diluted earnings per common share	0.67		0.85	0.74	0.88	1.38	(21)		(51)	3.14		4.95	(37)


			News Release \| January 13, 2023 Wells Fargo Reports Fourth Quarter 2022 Net Income of $2.9 billion Diluted EPS of $0.67 included a previously disclosed ($0.70) per share impact from litigation, regulatory, and customer remediation matters


Company-wide Financial Summary

		Quarter ended
		Dec 31, 2022			Dec 31, 2021
Selected Income Statement Data ($ in millions except per share amounts)
	Total revenue	$	19,660		20,856
	Noninterest expense	16,202			13,198
	Provision for credit losses	957			(452)
	Net income	2,864			5,750
	Diluted earnings per common share	0.67			1.38
Selected Balance Sheet Data ($ in billions)
	Average loans	$	948.5		875.0
	Average deposits	1,380.5			1,470.0
	CET11	10.6		%	11.4
Performance Metrics
	ROE2	6.4		%	12.8
	ROTCE3	7.6			15.3


Operating Segments

	Quarter ended		Dec 31, 2022 % Change from
($ in billions)	Dec 31, 2022			Sep 30, 2022		Dec 31, 2021
Average loans
Consumer Banking and Lending	$	338.0		1	%	4
Commercial Banking	218.4			5		18
Corporate and Investment Banking	298.3			(3)		10
Wealth and Investment Management	84.8			(1)		1
Average deposits
Consumer Banking and Lending	864.6			(3)		—
Commercial Banking	175.4			(3)		(16)
Corporate and Investment Banking	156.2			—		(14)
Wealth and Investment Management	142.2			(10)		(21)


Chief Executive Officer Charlie Scharf commented, “Though the quarter was significantly impacted by previously disclosed operating losses, our underlying performance reflected the progress we are making to improve returns. Rising interest rates drove strong net interest income growth, credit losses have continued to increase slowly but credit quality remained strong, and we continue to make progress on our efficiency initiatives.” “The operating losses incurred in the fourth quarter reflect an important milestone in our work to resolve historical issues. Our broad-reaching agreement with the CFPB in December helps resolve multiple matters, the majority of which have been outstanding for several years. Over the past three years we have made significant changes to address the matters referenced in the settlement and many of the required actions were already substantially complete prior to this announcement. While our risk and regulatory work hasn’t always followed a straight line and we have more to do, we have made significant progress, and are moving forward,” Scharf added. “We continue to invest in the future. This past year we enhanced our digital and mobile capabilities to better serve our customers and launched innovative products and solutions, including a new small dollar product – Flex Loan, two new credit cards, and a new digital banking platform for our commercial clients. We have also made significant changes that helped millions of customers avoid overdraft fees,” Scharf continued. “Our customers have remained resilient with deposit balances, consumer spending, and credit quality still stronger than pre-pandemic levels. As we look forward, we are carefully watching the impact of higher rates on our customers and expect to see deposit balances and credit quality continue to return toward pre-pandemic levels. We continue to prioritize building an appropriate risk and control infrastructure and I am optimistic about our future as we continue to advance our efficiency initiatives, invest to better serve our customers and grow our business,” Scharf concluded.


					Quarter ended
($ in millions)		Dec 31, 2022			Sep 30, 2022	Dec 31, 2021

Net charge-offs		$	560		399	423
	Net loan charge-offs as a % of average total loans (annualized)	0.23		%	0.17	0.19

Total nonaccrual loans		$	5,626		5,587	7,212
	As a % of total loans	0.59		%	0.59	0.81
Total nonperforming assets		$	5,763		5,712	7,324
	As a % of total loans	0.60		%	0.60	0.82

Allowance for credit losses for loans		$	13,609		13,225	13,788
	As a % of total loans	1.42		%	1.40	1.54


			Pages
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 and Industrial Loans and Lease Financing by Industry			23
Commercial Real Estate Loans by Property Type			24

Equity
Tangible Common Equity			25

Risk-Based Capital Ratios Under Basel III – Standardized Approach			27
Risk-Based Capital Ratios Under Basel III – Advanced Approach			28


							Dec 31, 2022 % Change from
(in millions)	Dec 31, 2022		Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2022		Dec 31, 2021
Assets
Cash and due from banks	$	34,596	27,634	29,716	27,454	24,616	25	%	41
Interest-earning deposits with banks	124,561		137,821	125,424	174,441	209,614	(10)		(41)
Total cash, cash equivalents, and restricted cash	159,157		165,455	155,140	201,895	234,230	(4)		(32)
Federal funds sold and securities purchased under resale agreements	68,036		55,840	55,546	67,764	66,223	22		3
Debt securities:
Trading, at fair value	86,155		85,766	89,157	86,672	88,265	—		(2)
Available-for-sale, at fair value	113,594		115,835	125,832	168,436	177,244	(2)		(36)
Held-to-maturity, at amortized cost	297,059		300,434	301,783	280,808	272,022	(1)		9
Loans held for sale	7,104		9,434	9,674	19,824	23,617	(25)		(70)
Loans	955,871		945,906	943,734	911,807	895,394	1		7
Allowance for loan losses	(12,985)		(12,571)	(11,786)	(11,504)	(12,490)	(3)		(4)
Net loans	942,886		933,335	931,948	900,303	882,904	1		7
Mortgage servicing rights	10,480		11,027	10,386	9,753	8,189	(5)		28
Premises and equipment, net	8,350		8,493	8,444	8,473	8,571	(2)		(3)
Goodwill	25,173		25,172	25,178	25,181	25,180	—		—
Derivative assets	22,774		29,253	24,896	27,365	21,478	(22)		6
Equity securities	64,414		59,560	61,774	70,755	72,886	8		(12)
Other assets	75,834		78,141	81,384	72,480	67,259	(3)		13
Total assets	$	1,881,016	1,877,745	1,881,142	1,939,709	1,948,068	—		(3)
Liabilities
Noninterest-bearing deposits	$	458,010	494,594	515,437	529,957	527,748	(7)		(13)
Interest-bearing deposits	925,975		903,557	909,716	951,397	954,731	2		(3)
Total deposits	1,383,985		1,398,151	1,425,153	1,481,354	1,482,479	(1)		(7)
Short-term borrowings	51,145		48,382	37,075	33,601	34,409	6		49
Derivative liabilities	20,085		23,400	17,168	15,499	9,424	(14)		113
Accrued expenses and other liabilities	69,056		72,991	71,662	74,229	70,957	(5)		(3)
Long-term debt	174,870		156,412	150,291	153,337	160,689	12		9
Total liabilities	1,699,141		1,699,336	1,701,349	1,758,020	1,757,958	—		(3)
Equity
Wells Fargo stockholders’ equity:
Preferred stock	19,448		20,057	20,057	20,057	20,057	(3)		(3)
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	60,319		60,216	60,024	59,899	60,196	—		—
Retained earnings	187,649		186,551	184,475	182,623	180,322	1		4
Accumulated other comprehensive income (loss)	(13,381)		(14,344)	(10,608)	(6,767)	(1,702)	7		NM
Treasury stock (1)	(82,853)		(84,781)	(84,906)	(85,059)	(79,757)	2		(4)
Unearned ESOP shares	(429)		(646)	(646)	(646)	(646)	34		34
Total Wells Fargo stockholders’ equity	179,889		176,189	177,532	179,243	187,606	2		(4)
Noncontrolling interests	1,986		2,220	2,261	2,446	2,504	(11)		(21)
Total equity	181,875		178,409	179,793	181,689	190,110	2		(4)
Total liabilities and equity	$	1,881,016	1,877,745	1,881,142	1,939,709	1,948,068	—		(3)


						Quarter ended December 31, 2022
(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	$	7,574	2,357	2,416	1,124	78	(116)	13,433
Noninterest income	1,889		792	1,723	2,571	(367)	(381)	6,227
Total revenue	9,463		3,149	4,139	3,695	(289)	(497)	19,660
Provision for credit losses	936		(43)	41	11	12	—	957
Noninterest expense	7,088		1,523	1,837	2,731	3,023	—	16,202
Income (loss) before income tax expense (benefit)	1,439		1,669	2,261	953	(3,324)	(497)	2,501
Income tax expense (benefit)	362		428	569	238	(1,227)	(497)	(127)
Net income (loss) before noncontrolling interests	1,077		1,241	1,692	715	(2,097)	—	2,628
Less: Net income (loss) from noncontrolling interests	—		3	—	—	(239)	—	(236)
Net income (loss)	$	1,077	1,238	1,692	715	(1,858)	—	2,864

						Quarter ended September 30, 2022
Net interest income	$	7,102	1,991	2,270	1,088	(248)	(105)	12,098
Noninterest income	2,175		961	1,790	2,577	284	(380)	7,407
Total revenue	9,277		2,952	4,060	3,665	36	(485)	19,505
Provision for credit losses	917		(168)	32	8	(5)	—	784
Noninterest expense	6,758		1,526	1,900	2,796	1,347	—	14,327
Income (loss) before income tax expense (benefit)	1,602		1,594	2,128	861	(1,306)	(485)	4,394
Income tax expense (benefit)	401		409	536	222	(189)	(485)	894
Net income (loss) before noncontrolling interests	1,201		1,185	1,592	639	(1,117)	—	3,500
Less: Net income (loss) from noncontrolling interests	—		3	—	—	(31)	—	(28)
Net income (loss)	$	1,201	1,182	1,592	639	(1,086)	—	3,528

						Quarter ended December 31, 2021
Net interest income	$	5,867	1,273	1,982	666	(420)	(106)	9,262
Noninterest income	2,866		1,011	1,530	2,982	3,540	(335)	11,594
Total revenue	8,733		2,284	3,512	3,648	3,120	(441)	20,856
Provision for credit losses	126		(384)	(194)	(3)	3	—	(452)
Noninterest expense	6,126		1,393	1,765	2,898	1,016	—	13,198
Income (loss) before income tax expense (benefit)	2,481		1,275	1,941	753	2,101	(441)	8,110
Income tax expense (benefit)	619		318	488	189	538	(441)	1,711
Net income before noncontrolling interests	1,862		957	1,453	564	1,563	—	6,399
Less: Net income (loss) from noncontrolling interests	—		3	(1)	—	647	—	649
Net income	$	1,862	954	1,454	564	916	—	5,750


						Year ended December 31, 2022
(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	$	27,044	7,289	8,733	3,927	(1,607)	(436)	44,950
Noninterest income	8,766		3,631	6,509	10,895	609	(1,575)	28,835
Total revenue	35,810		10,920	15,242	14,822	(998)	(2,011)	73,785
Provision for credit losses	2,276		(534)	(185)	(25)	2	—	1,534
Noninterest expense	26,277		6,058	7,560	11,613	5,774	—	57,282
Income (loss) before income tax expense (benefit)	7,257		5,396	7,867	3,234	(6,774)	(2,011)	14,969
Income tax expense (benefit)	1,816		1,366	1,989	812	(1,885)	(2,011)	2,087
Net income (loss) before noncontrolling interests	5,441		4,030	5,878	2,422	(4,889)	—	12,882
Less: Net income (loss) from noncontrolling interests	—		12	—	—	(312)	—	(300)
Net income (loss)	$	5,441	4,018	5,878	2,422	(4,577)	—	13,182

						Year ended December 31, 2021
Net interest income	$	22,807	4,960	7,410	2,570	(1,541)	(427)	35,779
Noninterest income	12,070		3,589	6,429	11,776	10,036	(1,187)	42,713
Total revenue	34,877		8,549	13,839	14,346	8,495	(1,614)	78,492
Provision for credit losses	(1,178)		(1,500)	(1,439)	(95)	57	—	(4,155)
Noninterest expense	24,648		5,862	7,200	11,734	4,387	—	53,831
Income (loss) before income tax expense (benefit)	11,407		4,187	8,078	2,707	4,051	(1,614)	28,816
Income tax expense (benefit)	2,852		1,045	2,019	680	596	(1,614)	5,578
Net income before noncontrolling interests	8,555		3,142	6,059	2,027	3,455	—	23,238
Less: Net income (loss) from noncontrolling interests	—		8	(3)	—	1,685	—	1,690
Net income	$	8,555	3,134	6,062	2,027	1,770	—	21,548


	Quarter ended							Dec 31, 2022 $ Change from
($ in millions)	Dec 31, 2022			Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2022	Dec 31, 2021
Period-End Loans
Commercial and industrial	$	386,806		379,694	380,235	362,137	350,436	7,112	36,370


Commercial real estate	155,802			155,659	155,154	150,108	147,825	143	7,977
Lease financing	14,908			14,617	14,530	14,469	14,859	291	49
Total commercial	557,516			549,970	549,919	526,714	513,120	7,546	44,396



Residential mortgage	269,117			268,065	267,545	260,634	258,888	1,052	10,229
Credit card	46,293			43,558	41,222	38,639	38,453	2,735	7,840
Auto	53,669			54,545	55,658	57,083	56,659	(876)	(2,990)
Other consumer	29,276			29,768	29,390	28,737	28,274	(492)	1,002
Total consumer	398,355			395,936	393,815	385,093	382,274	2,419	16,081
Total loans	$	955,871		945,906	943,734	911,807	895,394	9,965	60,477

Average Loans
Commercial and industrial	$	381,889		381,375	370,615	353,829	335,752	514	46,137


Commercial real estate	155,674			155,291	152,456	147,723	144,606	383	11,068
Lease financing	14,656			14,526	14,445	14,586	15,227	130	(571)
Total commercial	552,219			551,192	537,516	516,138	495,585	1,027	56,634



Residential mortgage	268,232			267,609	263,877	258,900	259,832	623	8,400
Credit card	44,829			42,407	39,614	38,164	37,041	2,422	7,788
Auto	53,917			54,874	56,262	56,701	55,161	(957)	(1,244)
Other consumer	29,320			29,383	29,298	28,102	27,417	(63)	1,903
Total consumer	396,298			394,273	389,051	381,867	379,451	2,025	16,847
Total loans	$	948,517		945,465	926,567	898,005	875,036	3,052	73,481

Average Interest Rates
Commercial and industrial	5.41		%	4.13	2.92	2.41	2.45


Commercial real estate	5.45			4.23	3.08	2.74	2.70
Lease financing	4.45			3.76	4.24	4.24	4.27
Total commercial	5.40			4.14	3.00	2.56	2.58



Residential mortgage	3.38			3.27	3.20	3.20	3.33
Credit card	12.00			11.51	11.13	11.32	11.25
Auto	4.46			4.27	4.18	4.17	4.37
Other consumer	6.89			5.58	4.26	3.69	3.67
Total consumer	4.76			4.47	4.23	4.20	4.28
Total loans	5.13		%	4.28	3.52	3.25	3.32


	Quarter ended						Dec 31, 2022 % Change from			Year ended
($ in millions)	Dec 31, 2022		Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2022		Dec 31, 2021	Dec 31, 2022		Dec 31, 2021	% Change
Selected Balance Sheet Data (average)
Loans:
Commercial and industrial	$	159,236	150,365	143,833	135,792	125,011	6	%	27	$	147,379	120,396	22	%
Commercial real estate	45,551		45,121	44,790	45,053	45,755	1		—	45,130		47,018	(4)
Lease financing and other	13,635		13,511	13,396	13,550	13,855	1		(2)	13,523		13,823	(2)
Total loans	$	218,422	208,997	202,019	194,395	184,621	5		18	$	206,032	181,237	14

Loans by Line of Business:
Middle Market Banking	$	119,740	117,031	113,033	108,583	103,594	2		16	$	114,634	102,882	11
Asset-Based Lending and Leasing	98,682		91,966	88,986	85,812	81,027	7		22	91,398		78,355	17
Total loans	$	218,422	208,997	202,019	194,395	184,621	5		18	$	206,032	181,237	14

Total deposits	175,442		180,231	188,286	200,699	207,678	(3)		(16)	186,079		197,269	(6)
Allocated capital	19,500		19,500	19,500	19,500	19,500	—		—	19,500		19,500	—

Selected Balance Sheet Data (period-end)
Loans:
Commercial and industrial	$	163,797	155,400	146,656	140,932	131,078	5		25	$	163,797	131,078	25
Commercial real estate	45,816		45,540	44,992	44,428	45,467	1		1	45,816		45,467	1
Lease financing and other	13,916		13,645	13,593	13,473	13,803	2		1	13,916		13,803	1
Total loans	$	223,529	214,585	205,241	198,833	190,348	4		17	$	223,529	190,348	17

Loans by Line of Business:
Middle Market Banking	$	121,192	118,627	116,064	110,258	106,834	2		13	$	121,192	106,834	13
Asset-Based Lending and Leasing	102,337		95,958	89,177	88,575	83,514	7		23	102,337		83,514	23
Total loans	$	223,529	214,585	205,241	198,833	190,348	4		17	$	223,529	190,348	17

Total deposits	173,942		172,727	183,145	195,549	205,428	1		(15)	173,942		205,428	(15)


	Quarter ended						Dec 31, 2022 % Change from			Year ended
($ in millions)	Dec 31, 2022		Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2022		Dec 31, 2021	Dec 31, 2022		Dec 31, 2021	% Change
Selected Balance Sheet Data (average)
Loans:
Commercial and industrial	$	196,697	205,185	200,527	191,152	182,778	(4)	%	8	$	198,424	170,713	16	%
Commercial real estate	101,553		101,055	98,167	93,346	89,216	—		14	98,560		86,323	14
Total loans	$	298,250	306,240	298,694	284,498	271,994	(3)		10	$	296,984	257,036	16

Loans by Line of Business:
Banking	$	104,187	109,909	109,123	102,485	101,589	(5)		3	$	106,440	93,766	14
Commercial Real Estate	137,680		137,568	133,212	126,248	116,630	—		18	133,719		110,978	20
Markets	56,383		58,763	56,359	55,765	53,775	(4)		5	56,825		52,292	9
Total loans	$	298,250	306,240	298,694	284,498	271,994	(3)		10	$	296,984	257,036	16
Trading-related assets:
Trading account securities	$	111,803	110,919	110,499	115,687	118,147	1		(5)	$	112,213	110,386	2
Reverse repurchase agreements/securities borrowed	52,814		45,486	48,909	54,832	53,526	16		(1)	50,491		59,044	(14)
Derivative assets	24,556		28,050	30,845	26,244	24,267	(12)		1	27,421		25,315	8
Total trading-related assets	$	189,173	184,455	190,253	196,763	195,940	3		(3)	$	190,125	194,745	(2)
Total assets	553,308		560,509	564,306	551,404	543,946	(1)		2	557,396		523,344	7
Total deposits	156,205		156,830	164,860	169,181	182,101	—		(14)	161,720		189,176	(15)
Allocated capital	36,000		36,000	36,000	36,000	34,000	—		6	36,000		34,000	6

Selected Balance Sheet Data (period-end)
Loans:
Commercial and industrial	$	196,529	198,253	207,414	194,201	191,391	(1)		3	$	196,529	191,391	3
Commercial real estate	101,848		101,440	100,872	96,426	92,983	—		10	101,848		92,983	10
Total loans	$	298,377	299,693	308,286	290,627	284,374	—		5	$	298,377	284,374	5

Loans by Line of Business:
Banking	$	101,183	103,809	111,639	107,081	101,926	(3)		(1)	$	101,183	101,926	(1)
Commercial Real Estate	137,495		137,077	137,083	129,375	125,926	—		9	137,495		125,926	9
Markets	59,699		58,807	59,564	54,171	56,522	2		6	59,699		56,522	6
Total loans	$	298,377	299,693	308,286	290,627	284,374	—		5	$	298,377	284,374	5
Trading-related assets:
Trading account securities	$	111,801	113,488	109,634	113,763	108,697	(1)		3	$	111,801	108,697	3
Reverse repurchase agreements/securities borrowed	55,407		44,194	42,696	57,579	55,973	25		(1)	55,407		55,973	(1)
Derivative assets	22,218		28,545	24,540	26,695	21,398	(22)		4	22,218		21,398	4
Total trading-related assets	$	189,426	186,227	176,870	198,037	186,068	2		2	$	189,426	186,068	2
Total assets	550,177		550,695	567,733	564,976	546,549	—		1	550,177		546,549	1


	Dec 31, 2022				Sep 30, 2022				Jun 30, 2022				Mar 31, 2022				Dec 31, 2021
($ 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	$	4,507	1.17	%	$	4,547	1.20	%	$	4,620	1.22	%	$	4,625	1.28	%	$	4,873	1.39	%


Commercial real estate	2,231		1.43		2,233		1.43		2,188		1.41		2,249		1.50		2,516		1.70
Lease financing	218		1.46		211		1.44		274		1.89		274		1.89		402		2.71
Total commercial	6,956		1.25		6,991		1.27		7,082		1.29		7,148		1.36		7,791		1.52



Residential mortgage (1)	1,096		0.41		1,001		0.37		1,018		0.38		929		0.36		1,286		0.50
Credit card	3,567		7.71		3,364		7.72		3,253		7.89		3,094		8.01		3,290		8.56
Auto	1,380		2.57		1,340		2.46		1,045		1.88		1,030		1.80		928		1.64
Other consumer	610		2.08		529		1.78		486		1.65		480		1.67		493		1.74
Total consumer	6,653		1.67		6,234		1.57		5,802		1.47		5,533		1.44		5,997		1.57
Total allowance for credit losses for loans	$	13,609	1.42	%	$	13,225	1.40	%	$	12,884	1.37	%	$	12,681	1.39	%	$	13,788	1.54	%
By segment:
Consumer Banking and Lending	$	7,394	2.17	%	$	7,002	2.08	%	$	6,540	1.95	%	$	6,305	1.92	%	$	6,891	2.11	%
Commercial Banking	2,397		1.07		2,477		1.15		2,644		1.29		2,631		1.32		2,950		1.55
Corporate and Investing Banking	3,552		1.19		3,517		1.17		3,480		1.13		3,532		1.22		3,705		1.30
Wealth and Investment Management	253		0.30		240		0.28		231		0.27		238		0.28		271		0.32
Corporate	13		0.14		(11)		(0.12)		(11)		(0.12)		(25)		(0.27)		(29)		(0.29)
Total allowance for credit losses for loans	$	13,609	1.42	%	$	13,225	1.40	%	$	12,884	1.37	%	$	12,681	1.39	%	$	13,788	1.54	%


	Dec 31, 2022							Sep 30, 2022							Dec 31, 2021
($ in millions)	Nonaccrual loans		Loans outstanding balance	% of total loans		Total commitments (1)		Nonaccrual loans		Loans outstanding balance	% of total loans		Total commitments (1)		Nonaccrual loans		Loans outstanding balance	% of total loans		Total commitments (1)
Financials except banks	$	44	147,171	15	%	$	247,936	$	53	144,595	15	%	$	248,059	$	104	142,283	16	%	$	236,133
Technology, telecom and media	31		27,767	3		78,230		69		27,892	3		67,050		64		23,345	3		62,984
Real estate and construction	73		24,478	3		57,138		65		25,572	3		59,197		78		25,035	3		55,304
Equipment, machinery and parts manufacturing	83		23,675	2		54,807		14		22,915	2		46,784		24		18,130	2		43,729
Retail	47		19,487	2		54,260		49		19,673	2		45,653		27		17,645	2		41,344
Materials and commodities	86		16,610	2		41,707		78		17,026	2		40,173		32		14,684	2		36,660
Oil, gas and pipelines	55		9,991	1		39,329		55		9,858	1		30,897		197		8,828	*		28,978
Food and beverage manufacturing	17		17,393	2		35,094		18		15,659	2		34,794		7		13,242	1		30,882
Health care and pharmaceuticals	21		14,861	2		30,463		21		14,472	2		29,207		24		12,847	1		28,808
Auto related	10		13,168	1		28,545		9		12,137	1		27,262		31		10,629	1		25,735
Commercial services	50		11,418	1		27,989		28		10,818	1		25,676		78		10,492	1		24,617
Utilities	18		9,457	*		26,918		61		8,848	*		26,090		77		6,982	*		22,406
Entertainment and recreation	28		13,085	1		24,535		35		11,407	1		17,812		23		9,907	1		17,893
Diversified or miscellaneous	2		8,161	*		22,432		11		8,219	*		21,009		3		7,493	*		18,317
Banks	—		14,403	2		16,733		—		15,575	2		17,694		—		16,178	2		16,612
Transportation services	237		8,389	*		16,342		226		7,817	*		15,405		288		8,162	*		14,710
Insurance and fiduciaries	1		4,691	*		15,741		1		4,515	*		15,630		1		3,387	*		13,993
Agribusiness	24		6,180	*		14,063		25		6,301	*		11,417		35		6,086	*		11,576
Government and education	25		6,482	*		12,590		16		6,578	*		12,657		5		5,863	*		11,193
Other	13		4,847	*		14,325		16		4,434	*		11,677		30		4,077	*		11,583
Total	$	865	401,714	42	%	$	859,177	$	850	394,311	42	%	$	804,143	$	1,128	365,295	41	%	$	753,457


								Dec 31, 2022 % Change from
(in millions, except ratios)		Dec 31, 2022		Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2022		Dec 31, 2021
Tangible book value per common share:
Total equity		$	181,875	178,409	179,793	181,689	190,110	2	%	(4)
Adjustments:
Preferred stock (1)		(19,448)		(20,057)	(20,057)	(20,057)	(20,057)	3		3
Additional paid-in capital on preferred stock (1)		173		136	135	136	136	27		27
Unearned Employee Stock Ownership Plan (ESOP) shares (1)		—		646	646	646	646	(100)		(100)
Noncontrolling interests		(1,986)		(2,220)	(2,261)	(2,446)	(2,504)	11		21
Total common stockholders' equity	(A)	160,614		156,914	158,256	159,968	168,331	2		(5)
Adjustments:
Goodwill		(25,173)		(25,172)	(25,178)	(25,181)	(25,180)	—		—
Certain identifiable intangible assets (other than MSRs)		(152)		(171)	(191)	(210)	(225)	11		32
Goodwill and other intangibles on investments in consolidated portfolio companies (included in other assets)		(2,427)		(2,378)	(2,307)	(2,304)	(2,437)	(2)		—
Applicable deferred taxes related to goodwill and other intangible assets (2)		890		889	880	871	765	—		16
Tangible common equity	(B)	$	133,752	130,082	131,460	133,144	141,254	3		(5)
Common shares outstanding	(C)	3,833.8		3,795.4	3,793.0	3,789.9	3,885.8	1		(1)
Book value per common share	(A)/(C)	$	41.89	41.34	41.72	42.21	43.32	1		(3)
Tangible book value per common share	(B)/(C)	34.89		34.27	34.66	35.13	36.35	2		(4)


		Estimated							Dec 31, 2022 % Change from
($ in billions)		Dec 31, 2022			Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2022		Dec 31, 2021
Total equity		$	181.9		178.4	179.8	181.7	190.1	2	%	(4)
Adjustments:
Preferred stock (2)		(19.4)			(20.1)	(20.1)	(20.1)	(20.1)	3		3
Additional paid-in capital on preferred stock (2)		0.1			0.1	0.2	0.1	0.1	(46)		(46)
Unearned ESOP shares (2)		—			0.7	0.7	0.7	0.7	(100)		(100)
Noncontrolling interests		(2.0)			(2.2)	(2.3)	(2.4)	(2.5)	11		21
Total common stockholders' equity		160.6			156.9	158.3	160.0	168.3	2		(5)
Adjustments:
Goodwill		(25.2)			(25.2)	(25.2)	(25.2)	(25.2)	—		—
Certain identifiable intangible assets (other than MSRs)		(0.2)			(0.2)	(0.2)	(0.2)	(0.2)	11		32
Goodwill and other intangibles on investments in consolidated portfolio companies (included in other assets)		(2.4)			(2.4)	(2.3)	(2.3)	(2.4)	(2)		—
Applicable deferred taxes related to goodwill and other intangible assets (3)		0.9			0.9	0.9	0.9	0.8	—		16
Current expected credit loss (CECL) transition provision (4)		0.2			0.2	0.2	0.2	0.2	—		(25)
Other		(0.4)			(0.4)	(1.6)	(1.1)	(0.9)	—		52
Common Equity Tier 1	(A)	133.5			129.8	130.1	132.3	140.6	3		(5)


Preferred stock (2)		19.4			20.1	20.1	20.1	20.1	(3)		(3)
Additional paid-in capital on preferred stock (2)		(0.1)			(0.1)	(0.2)	(0.1)	(0.2)	—		50
Unearned ESOP shares (2)		—			(0.7)	(0.7)	(0.7)	(0.6)	100		100
Other		(0.2)			(0.3)	(0.2)	(0.3)	(0.2)	27		5
Total Tier 1 capital	(B)	152.6			148.8	149.1	151.3	159.7	3		(4)

Long-term debt and other instruments qualifying as Tier 2		20.5			20.6	21.6	22.3	22.7	—		(10)
Qualifying allowance for credit losses (5)		14.0			13.6	13.2	13.0	14.1	3		(1)
Other		(0.3)			(0.3)	(0.3)	(0.3)	(0.2)	(10)		(57)





Total qualifying capital	(C)	$	186.8		182.7	183.6	186.3	196.3	2		(5)

Total risk-weighted assets (RWAs)	(D)	$	1,259.7		1,255.6	1,253.6	1,265.5	1,239.0	—		2

Common Equity Tier 1 to total RWAs	(A)/(D)	10.6		%	10.3	10.4	10.5	11.4
Tier 1 capital to total RWAs	(B)/(D)	12.1			11.9	11.9	12.0	12.9
Total capital to total RWAs	(C)/(D)	14.8			14.6	14.6	14.7	15.8