Wells Fargo (NYSE: WFC) grows Q1 2026 earnings, revenue and returns $4B

Q: How did Wells Fargo (WFC) perform financially in Q1 2026?

Wells Fargo reported Wells Fargo net income of $5.253 billion on total revenue of $21.446 billion in Q1 2026. Diluted EPS was $1.60 , up from $1.39 a year earlier, reflecting higher revenue and controlled credit costs across core businesses.

Q: What were Wells Fargo (WFC) loans and deposits in Q1 2026?

Average loans reached $996.0 billion and average deposits were $1.415 trillion in Q1 2026. Period-end loans totaled $1.0168 trillion and deposits $1.4550 trillion , showing broad growth in commercial and consumer lending plus solid deposit franchise strength.

Q: What was Wells Fargo (WFC) net interest margin and efficiency ratio in Q1 2026?

Net interest margin on a taxable-equivalent basis was 2.47% in Q1 2026, compared with 2.67% a year earlier. The efficiency ratio was 67% , slightly improved from 69% in Q1 2025, indicating ongoing expense management alongside revenue growth.

Q: How strong was Wells Fargo (WFC) capital and liquidity in Q1 2026?

The Common Equity Tier 1 (CET1) ratio under the Standardized Approach was 10.3% , and the Supplementary Leverage Ratio was 5.9% . Wells Fargo’s Liquidity Coverage Ratio stood at 120% , and the Total Loss Absorbing Capacity ratio was 23.0% , supporting regulatory and funding resilience.

Q: What credit quality trends did Wells Fargo (WFC) report for Q1 2026?

Net loan charge-offs were $1.100 billion , with an annualized charge-off rate of 0.45% of average loans. The allowance for credit losses for loans was $14.374 billion , or 1.41% of total loans, while nonperforming assets were $8.768 billion , or 0.86% of total loans.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Wells Fargo & Company reported solid first-quarter 2026 results with Wells Fargo net income of $5.3 billion and total revenue of $21.4 billion, both up versus a year ago. Diluted earnings per common share were $1.60, a 15% increase from $1.39 in first quarter 2025.

Average loans rose to $996.0 billion and average deposits to $1.42 trillion, reflecting broad-based growth across Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management. Return on equity was 12.2% and return on average tangible common equity was 14.5%.

The bank’s efficiency ratio was 67, net interest margin on a taxable-equivalent basis was 2.47, and the Common Equity Tier 1 ratio under the Standardized Approach was 10.3%. Wells Fargo repurchased 46.3 million common shares for $4.0 billion and recorded $135 million of discrete tax benefits.

Insights

Wells Fargo delivered steady Q1 2026 growth with controlled credit costs and active capital returns.

Wells Fargo generated total revenue of $21.446 billion, up 6% year over year, and Wells Fargo net income of $5.253 billion, up 7%. Diluted EPS increased 15% to $1.60, while average loans and deposits grew 10% and 6%, respectively, versus first quarter 2025.

Credit costs remain manageable: provision for credit losses was $1.135 billion, with net loan charge-offs of $1.100 billion and nonperforming assets stable at 0.86% of total loans. The CET1 ratio under the Standardized Approach was 10.3%, and the Liquidity Coverage Ratio stood at 120%, supporting balance-sheet resilience alongside a TLAC ratio of 23.0%.

Capital return was meaningful, with $4.0 billion of common share repurchases (46.3 million shares) and a common dividend of $0.45 per share. Investors may focus on trends in net interest margin, which dipped to 2.47%, and the efficiency ratio of 67% as management pursues further expense and productivity initiatives in subsequent quarterly filings.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Total revenue: $21.446 billion Net income: $5.253 billion Diluted EPS: $1.60 per share +5 more

8 metrics

Total revenue $21.446 billion Quarter ended March 31, 2026; up 6% year over year

Net income $5.253 billion Quarter ended March 31, 2026; up 7% year over year

Diluted EPS $1.60 per share Quarter ended March 31, 2026; up 15% from $1.39

Average loans $996.0 billion Average balance for quarter ended March 31, 2026

Average deposits $1.4150 trillion Average balance for quarter ended March 31, 2026

CET1 ratio 10.3% Standardized Approach, March 31, 2026 preliminary estimate

Net interest margin 2.47% Taxable-equivalent basis, quarter ended March 31, 2026

Share repurchases $4.0 billion 46.3 million common shares repurchased in first quarter 2026

Key Terms

Common Equity Tier 1 (CET1) ratio, Total Loss Absorbing Capacity (TLAC) ratio, Supplementary Leverage Ratio (SLR), net interest margin on a taxable-equivalent basis, +2 more

6 terms

Common Equity Tier 1 (CET1) ratio financial

"Common Equity Tier 1 (CET1) ratio 2 | 10.3 | % | | 10.6"

The common equity tier 1 (CET1) ratio is a measure of a bank’s financial strength, showing how much high-quality capital it has compared to its risk-weighted assets. Think of it as a safety buffer or cushion that helps ensure the bank can withstand financial stress. A higher CET1 ratio indicates a stronger position, which is important for investors because it signals greater stability and resilience.

Total Loss Absorbing Capacity (TLAC) ratio financial

"Total loss absorbing capacity (TLAC) ratio 3 | 23.0 | | | 23.2"

Supplementary Leverage Ratio (SLR) financial

"Supplementary Leverage Ratio (SLR) 4 | 5.9 | | | 6.2"

net interest margin on a taxable-equivalent basis financial

"Net interest margin on a taxable-equivalent basis | 2.47 | | | 2.60"

provision for credit losses financial

"Provision for credit losses 1 | 1,135 | | | 1,040"

Provision for credit losses is an amount set aside by a financial institution to cover potential future losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution manage risks and stay financially healthy. For investors, it signals how cautious a lender is about potential loan defaults and can impact the company's profitability and financial stability.

Tangible common equity financial

"Tangible common equity 1 | 137.8 | | | 139.2"

Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.

Offering Details

earnings_snapshot

Offering

Offering Type earnings_snapshot

Understanding 8-K Material Events →

04/14/2026 - 06:28 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): April 14, 2026

WELLS FARGO & COMPANY

(Exact name of registrant as specified in its charter)

Delaware

001-02979

No.

41-0449260

(State or Other Jurisdiction
of Incorporation)

(Commission File
Number)

(IRS Employer
Identification No.)

333 Market Street, San Francisco, California 94105

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: 415-371-2921

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered
Common Stock, par value $1-2/3	WFC	New York Stock Exchange (NYSE)
7.5% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L	WFC.PRL	NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Y	WFC.PRY	NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Z	WFC.PRZ	NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series AA	WFC.PRA	NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series CC	WFC.PRC	NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series DD	WFC.PRD	NYSE
Guarantee of Medium-Term Notes, Series A, due October 30, 2028 of Wells Fargo Finance LLC	WFC/28A	NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b‑2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition.

On April 14, 2026, Wells Fargo & Company (the “Company”) issued a news release regarding its results of operations and financial condition for the quarter ended March 31, 2026, and posted on its website its 1Q26 Quarterly Supplement, which contains certain additional information about the Company’s financial results for the quarter ended March 31, 2026. The news release is included as Exhibit 99.1 and the 1Q26 Quarterly Supplement is included as Exhibit 99.2 to this report, and each is incorporated by reference into this Item 2.02. The information included in Exhibit 99.1 and Exhibit 99.2 is considered to be “filed” for purposes of Section 18 under the Securities Exchange Act of 1934.

Item 7.01 Regulation FD Disclosure.

On April 14, 2026, the Company intends to host a live conference call that will also be available by webcast to discuss the Company’s first quarter 2026 financial results and other matters relating to the Company. In connection therewith, the Company has posted on its website presentation materials containing certain historical and forward-looking information relating to the Company. The presentation materials are included as Exhibit 99.3 to this report and are incorporated by reference into this Item 7.01. Exhibit 99.3 shall not be considered “filed” for purposes of Section 18 under the Securities Exchange Act of 1934 and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits


Exhibit No.	Description	Location
99.1	News Release dated April 14, 2026	Filed herewith
99.2	1Q26 Quarterly Supplement	Filed herewith
99.3	Presentation Materials - 1Q26 Financial Results	Furnished herewith
104	Cover Page Interactive Data File	Embedded within the Inline XBRL document

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Dated:	April 14, 2026	WELLS FARGO & COMPANY

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

Exhibit 99.1


			News Release \| April 14, 2026 Wells Fargo Reports First Quarter 2026 Net Income of $5.3 billion, or $1.60 per Diluted Share


Company-wide Financial Summary

		Quarter ended
		Mar 31, 2026			Mar 31, 2025
Selected Income Statement Data ($ in millions except per share amounts)
	Total revenue	$	21,446		20,149
	Noninterest expense	14,330			13,891
	Provision for credit losses1	1,135			932
	Net income	5,253			4,894
	Diluted earnings per common share	1.60			1.39
Selected Balance Sheet Data ($ in billions)
	Average loans	$	996.0		908.2
	Average deposits	1,415.0			1,339.3
	CET12	10.3		%	11.1
Performance Metrics
	ROE3	12.2		%	11.5
	ROTCE4	14.5			13.6


Operating Segments and Other Highlights

	Quarter ended		Mar 31, 2026 % Change from
($ in billions)	Mar 31, 2026			Dec 31, 2025		Mar 31, 2025
Average loans
Consumer Banking and Lending (CBL)5	$	335.3		1	%	4
Commercial Banking (CB)5	229.1			2		2
Corporate and Investment Banking	342.3			9		23
Wealth and Investment Management	88.4			4		9
Average deposits
Consumer Banking and Lending5	816.6			1		2
Commercial Banking5	185.9			3		2
Corporate and Investment Banking	214.3			—		5
Wealth and Investment Management	112.1			6		10

Capital

◦Repurchased 46.3 million shares, or $4.0 billion, of common stock in first quarter 2026


First quarter 2026 notable item:

◦$135 million, or $0.04 per share, of discrete tax benefits related to the resolution of prior period matters


Chairman and Chief Executive Officer Charlie Scharf commented, “We saw continued positive impacts from the investments we have been making with diluted earnings per share increasing 15%, revenue increasing 6%, loans increasing 11%, and deposits increasing 7% compared to a year ago. Revenue growth was driven by both a 5% increase in net interest income and an 8% increase in noninterest income. Credit performance remained strong with net loan charge-offs stable at 45 basis points. We returned $4 billion to shareholders through common stock repurchases while continuing to operate with significant excess capital.” “Our consistent focus on investing across all of our businesses helped contribute to broad-based revenue growth, with each of our operating segments increasing revenue from a year ago. Consumer Banking and Lending revenue grew 7% and Commercial Banking grew 7% as well. Within our Corporate and Investment Bank we saw an 11% increase in Banking revenue and a 19% increase in Markets revenue. Wealth and Investment Management grew 14%,” Scharf added. “In our credit card business, we launched two new cards in the first quarter, and the product enhancements we have made over the past five years drove higher card fees and purchase volume. Auto originations and balances increased, and new consumer checking account openings were higher. We continued to see momentum in our Wealth and Investment Management business with client assets growth of 11% to $2.2 trillion. Strong customer engagement helped to drive higher loan and deposit balances in Commercial Banking. We continued to grow our Investment Banking business, including increasing market share in Equity Capital Markets in the first quarter, and we ended the quarter with a strong investment banking pipeline,” Scharf continued. “While markets have been volatile, we still see continued resiliency in the underlying economy and the financial health of the consumers and businesses we serve remains strong, though the impact of higher oil prices will likely take some time to materialize. We will continue to monitor trends and respond accordingly, and we are well positioned to support our customers across a range of economic scenarios. We have clear strategic plans in place that are focused on growing returns by using our broad set of capabilities. I am encouraged by the momentum we are seeing and confident in our ability to continue to grow across our businesses,” Scharf concluded.


Endnotes are presented on page 9.

Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information.

Selected Company-wide Financial Information


		Quarter ended					Mar 31, 2026 % Change from
		Mar 31, 2026			Dec 31, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Earnings ($ in millions except per share amounts)
	Net interest income	$	12,096		12,331	11,495	(2)	%	5
	Noninterest income	9,350			8,961	8,654	4		8
	Total revenue	21,446			21,292	20,149	1		6
	Net charge-offs	1,106			1,030	1,009	7		10
	Change in the allowance for credit losses	29			10	(77)	190		138
	Provision for credit losses1	1,135			1,040	932	9		22
	Noninterest expense	14,330			13,726	13,891	4		3
	Income tax expense	691			1,103	522	(37)		32

	Wells Fargo net income	$	5,253		5,361	4,894	(2)		7
	Diluted earnings per common share	1.60			1.62	1.39	(1)		15

Balance Sheet Data (average) ($ in billions)
	Loans	$	996.0		955.8	908.2	4		10
	Deposits	1,415.0			1,377.7	1,339.3	3		6
	Assets	2,168.2			2,079.8	1,919.7	4		13

Financial Ratios
	Return on assets (ROA)	0.98		%	1.02	1.03
	Return on equity (ROE)	12.2			12.3	11.5
	Return on average tangible common equity (ROTCE)2	14.5			14.5	13.6
	Efficiency ratio3	67			64	69
	Net interest margin on a taxable-equivalent basis	2.47			2.60	2.67

First Quarter 2026 vs. First Quarter 2025

◦Net interest income increased 5%, driven by higher deposit balances and lower deposit costs, improved results in our Markets business, higher loan and investment securities balances, and fixed rate asset repricing, partially offset by the impact of lower interest rates on floating rate assets

◦Noninterest income increased 8%. First quarter 2025 included a $263 million gain from the sale of our commercial mortgage servicing business and $149 million of net losses due to a repositioning of the investment securities portfolio. First quarter 2026 included improved results from our venture capital investments and higher asset-based fees primarily in Wealth and Investment Management on higher market valuations, as well as increases in most other fee categories, partially offset by lower lease income related to the sale of our rail car leasing business and lower mortgage banking fees

◦Noninterest expense increased 3%, driven by higher revenue-related compensation expense primarily in Wealth and Investment Management, an increase in advertising expense, and higher technology and equipment expense, partially offset by lower lease and other expense related to the sale of our rail car leasing business and the impact of efficiency initiatives

◦Provision for credit losses in first quarter 2026 included a modest increase in the allowance reflecting higher commercial and industrial and auto loan balances, largely offset by a lower allowance for commercial real estate and credit card loans

◦Income tax expense in first quarter 2026 included $135 million of discrete tax benefits related to the resolution of prior period matters, as well as tax benefits related to the annual vesting of stock-based compensation


Endnotes are presented on page 9.			2

Selected Company-wide Capital and Liquidity Information


					Quarter ended
($ in billions)		Mar 31, 2026			Dec 31, 2025	Mar 31, 2025
Capital:
	Total equity	$	180.3		183.0	182.9
	Common stockholders’ equity	163.2			164.7	162.6
	Tangible common equity1	137.8			139.2	137.8
	Common Equity Tier 1 (CET1) ratio2	10.3		%	10.6	11.1
	Total loss absorbing capacity (TLAC) ratio3	23.0			23.2	25.1
	Supplementary Leverage Ratio (SLR)4	5.9			6.2	6.8

Liquidity:
	Liquidity Coverage Ratio (LCR)5	120		%	119	125

Selected Company-wide Loan Credit Information


					Quarter ended
($ in millions)		Mar 31, 2026			Dec 31, 2025	Mar 31, 2025

Net loan charge-offs		$	1,100		1,046	1,009
	Net loan charge-offs as a % of average total loans (annualized)	0.45		%	0.43	0.45

Total nonaccrual loans		$	8,469		8,201	7,978
	As a % of total loans	0.83		%	0.83	0.87
Total nonperforming assets		$	8,768		8,503	8,225
	As a % of total loans	0.86		%	0.86	0.90

Allowance for credit losses for loans		$	14,374		14,337	14,552
	As a % of total loans	1.41		%	1.45	1.59

First Quarter 2026 vs. Fourth Quarter 2025

◦Commercial net loan charge-offs as a percentage of average loans were 0.24% (annualized), up from 0.22%, driven by higher commercial and industrial net loan charge-offs, partially offset by lower commercial real estate net loan charge-offs. The consumer net loan charge-off rate increased to 0.78% (annualized), up from 0.75%, on seasonally higher credit card net loan charge-offs

◦Nonperforming assets were up $265 million, primarily driven by higher commercial and industrial nonaccrual loans, partially offset by lower commercial real estate nonaccrual loans. Nonperforming assets as a percentage of total loans were 0.86%, stable with fourth quarter 2025


Endnotes are presented on page 9.			3

Operating Segment Performance

Consumer Banking and Lending offers diversified financial products and services for consumers and small businesses. These financial products and services include checking and savings accounts, credit and debit cards, as well as home, auto, personal, and small business lending. We also provide personalized wealth management and financial planning services through our branch channel.

Selected Financial Information1


		Quarter ended				Mar 31, 2026 % Change from
		Mar 31, 2026		Dec 31, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Earnings (in millions)
	Consumer, Small and Business Banking	$	7,019	7,130	6,451	(2)	%	9

	Credit Card	1,595		1,600	1,524	—		5
	Home Lending	787		807	866	(2)		(9)
	Auto	295		282	237	5		24
	Personal Lending	302		291	305	4		(1)

	Total revenue	9,998		10,110	9,383	(1)		7
	Provision for credit losses	818		911	739	(10)		11
	Noninterest expense	6,589		6,238	6,342	6		4

	Net income	$	1,941	2,219	1,732	(13)		12

Average balances (in billions)
	Loans	$	335.3	333.0	321.5	1		4
	Deposits	816.6		807.6	799.9	1		2

In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been revised to conform with the current period presentation.

First Quarter 2026 vs. First Quarter 2025

◦Revenue increased 7%

▪Consumer, Small and Business Banking was up 9% driven by lower deposit pricing, higher deposit and loan balances, including the impact of the third quarter 2025 transfer of certain business customers from the Commercial Banking operating segment, as well as higher deposit-related fees, higher asset-based fees driven by an increase in market valuations, and higher debit card fees on higher volume

▪Credit Card was up 5% reflecting higher net interest income on higher loan balances

▪Home Lending was down 9% due to lower net interest income on lower loan balances and lower mortgage banking fees reflecting lower servicing income

▪Auto was up 24% due to higher loan balances

◦Noninterest expense increased 4% driven by higher advertising expense and higher revenue-related compensation expense, as well as the impact of the third quarter 2025 transfer of certain business customers from the Commercial Banking operating segment, partially offset by the impact of efficiency initiatives


Endnotes are presented on page 9.			4

Commercial Banking provides financial solutions to private, family owned and certain public companies. Products and services include banking and credit products across multiple industry sectors and municipalities, secured lending and lease products, and treasury management.

Selected Financial Information


		Quarter ended				Mar 31, 2026 % Change from
		Mar 31, 2026		Dec 31, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Earnings (in millions)
	Net interest income	$	1,988	1,993	1,977	—	%	1
	Noninterest income	1,132		1,086	948	4		19
	Total revenue	3,120		3,079	2,925	1		7
	Provision for credit losses	150		105	187	43		(20)
	Noninterest expense	1,608		1,443	1,670	11		(4)

	Net income	$	1,017	1,142	794	(11)		28

Average balances (in billions)
	Loans	$	229.1	224.0	223.8	2		2
	Deposits	185.9		181.0	182.9	3		2

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

First Quarter 2026 vs. First Quarter 2025

◦Revenue increased 7%

▪Net interest income was up 1% due to higher loan and deposit balances, partially offset by the impact of lower interest rates and the transfer noted above

▪Noninterest income was up 19% driven by higher revenue from tax credit investments and equity investments

◦Noninterest expense decreased 4% due to the impact of the transfer noted above, as well as the impact of efficiency initiatives


			5

Corporate and Investment Banking delivers a suite of capital markets, banking, and financial products and services to corporate, commercial real estate, government and institutional clients globally. Products and services include corporate banking, investment banking, treasury management, commercial real estate lending and capital markets, equity and fixed income solutions, as well as sales, trading, and research capabilities.

Selected Financial Information


			Quarter ended				Mar 31, 2026 % Change from
			Mar 31, 2026		Dec 31, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Earnings (in millions)
	Banking:
		Lending	$	700	656	618	7	%	13
		Treasury Management and Payments	655		648	618	1		6
		Investment Banking	602		457	534	32		13
	Total Banking		1,957		1,761	1,770	11		11
	Commercial Real Estate		1,146		1,236	1,449	(7)		(21)
	Markets:
		Fixed Income, Currencies, and Commodities (FICC)	1,583		1,164	1,382	36		15
		Equities	543		453	448	20		21
		Credit Adjustment (CVA/DVA/FVA) and Other	47		(15)	(3)	413		NM
	Total Markets		2,173		1,602	1,827	36		19
	Other		2		17	18	(88)		(89)
	Total revenue		5,278		4,616	5,064	14		4
	Provision for credit losses		175		78	—	124		NM
	Noninterest expense		2,692		2,347	2,476	15		9

	Net income		$	1,809	1,639	1,941	10		(7)

Average balances (in billions)
	Loans		$	342.3	312.9	277.3	9		23
	Deposits		214.3		214.5	203.9	—		5

NM – Not meaningful

First Quarter 2026 vs. First Quarter 2025

◦Revenue increased 4%

▪Banking was up 11% driven by higher loan and deposit balances and higher investment banking revenue, partially offset by the impact of lower interest rates

▪Commercial Real Estate was down 21%. First quarter 2025 included a $263 million gain from the sale of our commercial mortgage servicing business. First quarter 2026 included higher revenue in our affordable housing business

▪Markets was up 19% driven by higher revenue across most asset classes

◦Noninterest expense increased 9% driven by higher incentive compensation expense and higher professional and outside services expense, partially offset by the impact of efficiency initiatives


			6

Wealth and Investment Management provides personalized wealth management, brokerage, financial planning, lending, trust and fiduciary products and services to affluent, high-net worth and ultra-high-net worth clients. We operate through financial advisors in our brokerage and wealth offices, independent offices, and digitally through WellsTrade® and Intuitive Investor®.

Selected Financial Information


		Quarter ended				Mar 31, 2026 % Change from
		Mar 31, 2026		Dec 31, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Earnings (in millions)
	Net interest income	$	905	868	730	4	%	24
	Noninterest income	2,970		2,953	2,674	1		11
	Total revenue	3,875		3,821	3,404	1		14
	Provision for credit losses	(10)		(9)	11	(11)		NM
	Noninterest expense	3,262		3,074	2,946	6		11

	Net income	$	468	565	349	(17)		34

Total Company-wide client assets (in billions)		2,483		2,509	2,233	(1)		11

Average balances (in billions)
	Loans	$	88.4	84.9	80.9	4		9
	Deposits	112.1		105.5	102.1	6		10

NM – Not meaningful

In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. Prior period balances have been revised to conform with the current period presentation.

First Quarter 2026 vs. First Quarter 2025

◦Revenue increased 14%

▪Net interest income was up 24% driven by lower deposit pricing and higher deposit and loan balances

▪Noninterest income was up 11% on higher asset-based fees driven by an increase in market valuations

◦Noninterest expense increased 11% due to higher revenue-related compensation expense, partially offset by the impact of efficiency initiatives


			7

Corporate includes corporate treasury and enterprise functions, net of expense allocations, in support of the reportable operating segments (including funds transfer pricing, capital, and liquidity), as well as our investment portfolio and venture capital investments. Corporate also includes results for previously divested businesses.

Selected Financial Information


		Quarter ended				Mar 31, 2026 % Change from
		Mar 31, 2026		Dec 31, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Earnings (in millions)
	Net interest income	$	(460)	(199)	36	NM		NM
	Noninterest income	228		388	(213)	(41)	%	207
	Total revenue	(232)		189	(177)	NM		(31)
	Provision for credit losses	2		(45)	(5)	104		140
	Noninterest expense	179		624	457	(71)		(61)

	Net income (loss)	$	18	(204)	78	109		(77)

NM – Not meaningful

First Quarter 2026 vs. First Quarter 2025

◦Revenue decreased as first quarter 2026 included lower net interest income due to the impact of lower interest rates on crediting rates to our operating segments and lower lease income related to the sale of our rail car leasing business, partially offset by improved results from our venture capital investments. First quarter 2025 included $149 million of net losses due to a repositioning of the investment securities portfolio

◦Noninterest expense decreased and included lower lease and other expense related to the sale of our rail car leasing business


			8

Endnotes

Page 1 – Company-wide Financial Summary / Operating Segments

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

2.Represents our Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach, which is our binding CET1 framework. See the table on page 25 of the 1Q26 Quarterly Supplement for more information on CET1. CET1 for March 31, 2026, is a preliminary estimate.

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

4.Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” tables on pages 23-24 of the 1Q26 Quarterly Supplement.

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

Page 2 – Selected Company-wide Financial Information

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

2.Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” tables on pages 23-24 of the 1Q26 Quarterly Supplement.

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

Page 3 – Selected Company-wide Capital and Liquidity Information

1.Tangible common equity is a non-GAAP financial measure. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” tables on pages 23-24 of the 1Q26 Quarterly Supplement.

2.Represents our CET1 ratio calculated under the Standardized Approach, which is our binding CET1 framework. See the table on page 25 of the 1Q26 Quarterly Supplement for more information on CET1. CET1 for March 31, 2026, is a preliminary estimate.

3.Represents TLAC divided by risk-weighted assets (RWAs), which is our binding TLAC ratio, determined by using the greater of RWAs under the Standardized and Advanced Approaches. TLAC for March 31, 2026, is a preliminary estimate.

4.SLR for March 31, 2026, is a preliminary estimate.

5.Represents average high-quality liquid assets divided by average projected net cash outflows, as each is defined under the LCR rule. LCR for March 31, 2026, is a preliminary estimate.

Page 4 – Operating Segment Performance – Consumer Banking and Lending

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

Conference Call

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

https://metroconnections-events.com/wf1Qearnings26.

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

Tuesday, April 28. Please dial 1-800-835-4112 (U.S. and Canada) or 203-369-3829 (International/U.S. Toll) and enter passcode: 5148#. The replay will also be available online at

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

https://metroconnections-events.com/wf1Qearnings26.


			9

Forward-Looking Statements

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

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

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

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

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

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

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

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

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

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

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

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

•the effect of technological changes, including artificial intelligence and digital assets, on us, our customers, or our competitive landscape;

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


			10

•fiscal and monetary policies of the Federal Reserve Board;

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

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

•the other risk factors and uncertainties described under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025.

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

For additional information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the SEC, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC and available on its website at www.sec.gov1.

Any forward-looking statement made by us speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

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

1 We do not control this website. Wells Fargo has provided this link for your convenience, but does not endorse and is not responsible for the content, links, privacy policy, or security policy of this website.


			11

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $2.2 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 33 on Fortune’s 2025 rankings of America’s largest corporations.

Contact Information

Media

Beth Richek, 980-308-1568

beth.richek@wellsfargo.com

Investor Relations

John M. Campbell, 415-396-0523

john.m.campbell@wellsfargo.com


			12

Exhibit 99.2

1Q26 Quarterly Supplement

Wells Fargo & Company and Subsidiaries

QUARTERLY FINANCIAL DATA

TABLE OF CONTENTS


			Page
Consolidated Results

Summary Financial Data			3


Consolidated Statement of Income			5


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









Reportable Operating Segment Results
Combined Segment Results			8
Consumer Banking and Lending			9
Commercial Banking			11
Corporate and Investment Banking			13
Wealth and Investment Management			15
Corporate			16

Credit-Related Information
Consolidated Loans Outstanding – Period-End Balances, Average Balances, and Average Interest Rates			17
Net Loan Charge-offs			18
Changes in Allowance for Credit Losses for Loans			19
Allocation of the Allowance for Credit Losses for Loans			20
Nonperforming Assets (Nonaccrual Loans and Foreclosed Assets)			21


Commercial Loan Portfolio – Commercial and Industrial Loans and Lease Financing by Industry and Commercial Real Estate Loans by Property Type			22


Other
Tangible Common Equity			23

Risk-Based Capital Ratios Under Basel III			25
Net Interest Income Excluding Markets			26

Wells Fargo & Company and Subsidiaries

SUMMARY FINANCIAL DATA


	Quarter ended							Mar 31, 2026 % Change from
(in millions, except ratios and per share amounts)	Mar 31, 2026			Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Selected Income Statement Data
Total revenue	$	21,446		21,292	21,436	20,822	20,149	1	%	6
Noninterest expense	14,330			13,726	13,846	13,379	13,891	4		3
Pre-tax pre-provision profit (PTPP) (1)	7,116			7,566	7,590	7,443	6,258	(6)		14
Provision for credit losses (2)	1,135			1,040	681	1,005	932	9		22
Wells Fargo net income	5,253			5,361	5,589	5,494	4,894	(2)		7
Wells Fargo net income applicable to common stock	5,000			5,114	5,341	5,214	4,616	(2)		8

Common Share Data
Diluted earnings per common share	1.60			1.62	1.66	1.60	1.39	(1)		15
Dividends declared per common share	0.45			0.45	0.45	0.40	0.40	—		13
Common shares outstanding	3,064.3			3,092.6	3,148.9	3,220.4	3,261.7	(1)		(6)
Average common shares outstanding	3,080.0			3,113.8	3,182.2	3,232.7	3,280.4	(1)		(6)
Diluted average common shares outstanding	3,117.7			3,159.0	3,223.5	3,267.0	3,321.6	(1)		(6)
Book value per common share (3)	$	53.25		53.24	52.30	51.13	49.86	—		7
Tangible book value per common share (3)(4)	44.98			45.02	44.18	43.18	42.24	—		6

Selected Equity Data (period-end)
Total equity	180,313			183,038	183,012	182,954	182,906	(1)		(1)
Common stockholders' equity	163,188			164,651	164,687	164,644	162,627	(1)		—
Tangible common equity (4)	137,817			139,219	139,119	139,057	137,776	(1)		—

Performance Ratios
Return on average assets (ROA) (5)	0.98		%	1.02	1.10	1.14	1.03
Return on average equity (ROE) (6)	12.2			12.3	12.8	12.8	11.5
Return on average tangible common equity (ROTCE) (4)	14.5			14.5	15.2	15.2	13.6
Efficiency ratio (7)	67			64	65	64	69
Net interest margin on a taxable-equivalent basis	2.47			2.60	2.61	2.68	2.67
Average deposit cost	1.43			1.44	1.54	1.52	1.58

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

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

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

(4)Tangible common equity, tangible book value per common share, and return on average tangible common equity are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” tables on pages 23 and 24.

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

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

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

-3-

Wells Fargo & Company and Subsidiaries

SUMMARY FINANCIAL DATA (continued)


	Quarter ended							Mar 31, 2026 % Change from
($ in millions, unless otherwise noted)	Mar 31, 2026			Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Selected Balance Sheet Data (average)
Loans	$	996,025		955,849	928,677	916,719	908,182	4	%	10
Assets	2,168,224			2,079,777	2,010,200	1,933,371	1,919,661	4		13
Deposits	1,415,034			1,377,718	1,339,939	1,331,651	1,339,328	3		6

Selected Balance Sheet Data (period-end)
Available-for-sale and held-to-maturity debt securities	426,953			421,596	420,914	406,362	403,456	1		6
Loans	1,016,787			986,167	943,102	924,418	913,842	3		11
Allowance for credit losses for loans	14,374			14,337	14,311	14,568	14,552	—		(1)

Assets	2,205,752			2,148,631	2,062,926	1,981,269	1,950,311	3		13
Deposits	1,454,939			1,426,207	1,367,361	1,340,703	1,361,728	2		7

Headcount (#) (period-end)	200,999			205,198	210,821	212,804	215,367	(2)		(7)

Capital and other metrics (1)
Risk-based capital ratios and components (2):
Standardized Approach:
Common Equity Tier 1 (CET1)	10.3		%	10.6	11.0	11.1	11.1
Tier 1 capital	11.4			11.9	12.3	12.5	12.6
Total capital	13.8			14.3	14.8	15.0	15.2
Risk-weighted assets (RWAs) (in billions)	$	1,315.6		1,294.6	1,242.4	1,225.9	1,222.0	2		8

Advanced Approach:
Common Equity Tier 1 (CET1)	12.0		%	12.4	12.7	12.7	12.7
Tier 1 capital	13.4			13.8	14.3	14.3	14.5
Total capital	15.3			15.7	16.2	16.2	16.5
Risk-weighted assets (RWAs) (in billions)	$	1,124.5		1,112.5	1,072.2	1,070.4	1,063.6	1		6

Tier 1 leverage ratio	7.0		%	7.5	7.7	8.0	8.1
Supplementary Leverage Ratio (SLR)	5.9			6.2	6.4	6.7	6.8
Total Loss Absorbing Capacity (TLAC) Ratio (3)	23.0			23.2	24.6	24.4	25.1
Liquidity Coverage Ratio (LCR) (4)	120			119	121	121	125

(1)Ratios and metrics for March 31, 2026, are preliminary estimates.

(2)See the table on page 25 for more information on CET1, Tier 1 capital, and total capital.

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

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

-4-

Wells Fargo & Company and Subsidiaries

CONSOLIDATED STATEMENT OF INCOME


	Quarter ended						Mar 31, 2026 % Change from
(in millions, except per share amounts)	Mar 31, 2026		Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025







Interest income	$	22,445	22,602	22,419	21,320	20,973	(1)	%	7





Interest expense	10,349		10,271	10,469	9,612	9,478	1		9
Net interest income	12,096		12,331	11,950	11,708	11,495	(2)		5
Noninterest income
Deposit-related fees	1,319		1,291	1,290	1,249	1,269	2		4
Lending-related fees	393		393	384	373	364	—		8
Investment advisory and other asset-based fees	2,824		2,803	2,660	2,499	2,536	1		11
Commissions and brokerage services fees	667		657	651	610	638	2		5
Investment banking fees	796		716	840	696	775	11		3
Card fees (1)	1,138		1,149	1,223	1,173	1,044	(1)		9
Mortgage banking	201		322	268	230	332	(38)		(39)
Net gains from trading activities	1,351		979	1,408	1,376	1,384	38		(2)
Net gains (losses) from debt securities	—		3	—	—	(147)	(100)		100
Net gains (losses) from equity securities	172		319	149	119	(343)	(46)		150

Other	489		329	613	789	802	49		(39)
Total noninterest income	9,350		8,961	9,486	9,114	8,654	4		8
Total revenue	21,446		21,292	21,436	20,822	20,149	1		6




Provision for credit losses (2)	1,135		1,040	681	1,005	932	9		22
Noninterest expense
Personnel	9,593		9,077	9,021	8,709	9,474	6		1
Technology, telecommunications and equipment	1,397		1,374	1,319	1,287	1,223	2		14
Occupancy	778		840	784	766	761	(7)		2

Professional and outside services	1,066		1,236	1,177	1,089	1,038	(14)		3

Advertising and promotion	369		352	295	266	181	5		104
Other	1,127		847	1,250	1,262	1,214	33		(7)
Total noninterest expense	14,330		13,726	13,846	13,379	13,891	4		3
Income before income tax expense	5,981		6,526	6,909	6,438	5,326	(8)		12
Income tax expense	691		1,103	1,300	916	522	(37)		32
Net income before noncontrolling interests	5,290		5,423	5,609	5,522	4,804	(2)		10
Less: Net income (loss) from noncontrolling interests	37		62	20	28	(90)	(40)		141
Wells Fargo net income	$	5,253	5,361	5,589	5,494	4,894	(2)	%	7
Less: Preferred stock dividends and other	253		247	248	280	278	2		(9)
Wells Fargo net income applicable to common stock	$	5,000	5,114	5,341	5,214	4,616	(2)	%	8
Per share information
Earnings per common share	$	1.62	1.64	1.68	1.61	1.41	(1)	%	15
Diluted earnings per common share	1.60		1.62	1.66	1.60	1.39	(1)		15

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

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

-5-

Wells Fargo & Company and Subsidiaries

CONSOLIDATED BALANCE SHEET


							Mar 31, 2026 % Change from
(in millions, except shares)	Mar 31, 2026		Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Assets
Cash and due from banks	$	33,543	39,182	34,801	35,081	35,256	(14)	%	(5)
Interest-earning deposits with banks	141,241		135,028	139,524	159,480	142,309	5		(1)

Federal funds sold and securities borrowed or purchased under resale agreements	215,599		193,929	154,576	104,815	126,830	11		70
Trading assets	221,711		227,935	225,624	192,933	179,707	(3)		23



Available-for-sale debt securities	222,873		213,573	206,682	184,869	176,229	4		26
Held-to-maturity debt securities	204,080		208,023	214,232	221,493	227,227	(2)		(10)
Loans	1,016,787		986,167	943,102	924,418	913,842	3		11
Allowance for loan losses	(13,864)		(13,797)	(13,744)	(13,961)	(14,029)	—		1
Net loans	1,002,923		972,370	929,358	910,457	899,813	3		11
Premises and equipment, net	11,499		11,395	11,040	10,768	10,357	1		11
Goodwill	24,965		24,967	25,069	25,071	25,066	—		—
Equity securities	41,126		40,932	39,267	39,051	40,281	—		2
Other assets	86,192		81,297	82,753	97,251	87,236	6		(1)
Total assets	$	2,205,752	2,148,631	2,062,926	1,981,269	1,950,311	3		13
Liabilities
Noninterest-bearing deposits	$	365,712	365,368	366,814	370,844	377,443	—		(3)
Interest-bearing deposits	1,089,227		1,060,839	1,000,547	969,859	984,285	3		11
Total deposits	1,454,939		1,426,207	1,367,361	1,340,703	1,361,728	2		7
Federal funds purchased and securities loaned or sold under repurchase agreements	234,371		232,687	202,274	161,618	124,825	1		88
Short-term borrowings	32,282		18,323	16,449	13,361	2,324	76		NM
Trading liabilities	53,647		45,468	45,258	43,531	44,878	18		20


Accrued expenses and other liabilities	66,259		68,196	70,799	62,865	59,990	(3)		10
Long-term debt	183,941		174,712	177,773	176,237	173,660	5		6
Total liabilities	2,025,439		1,965,593	1,879,914	1,798,315	1,767,405	3		15
Equity
Wells Fargo stockholders’ equity:
Preferred stock	15,348		16,608	16,608	16,608	18,608	(8)		(18)
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	60,852		61,288	61,016	60,669	60,275	(1)		1
Retained earnings	232,459		228,873	225,189	221,308	217,405	2		7
Accumulated other comprehensive loss	(7,922)		(6,673)	(7,647)	(9,366)	(9,998)	(19)		21
Treasury stock (1)	(131,477)		(128,115)	(123,148)	(117,244)	(114,336)	(3)		(15)

Total Wells Fargo stockholders’ equity	178,396		181,117	181,154	181,111	181,090	(2)		(1)
Noncontrolling interests	1,917		1,921	1,858	1,843	1,816	—		6
Total equity	180,313		183,038	183,012	182,954	182,906	(1)		(1)
Total liabilities and equity	$	2,205,752	2,148,631	2,062,926	1,981,269	1,950,311	3		13

NM – Not meaningful

(1)Number of shares of treasury stock were 2,417,471,421, 2,389,192,624, 2,332,874,793, 2,261,443,304, and 2,220,135,208 at March 31, 2026, and December 31, September 30, June 30, and March 31, 2025, respectively.

-6-

Wells Fargo & Company and Subsidiaries

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


	Quarter ended							Mar 31, 2026 % Change from
($ in millions)	Mar 31, 2026			Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Average Balances

Assets
Interest-earning deposits with banks	$	152,119		144,428	158,704	137,136	150,855	5	%	1
Federal funds sold and securities borrowed or purchased under resale agreements	192,250			159,759	120,900	105,987	101,175	20		90
Trading assets	192,209			183,706	172,409	157,704	156,417	5		23
Available-for-sale debt securities	217,181			212,487	200,309	187,390	175,550	2		24
Held-to-maturity debt securities	209,089			213,545	221,447	227,525	233,952	(2)		(11)
Loans	996,025			955,849	928,677	916,719	908,182	4		10
Equity securities	13,123			11,712	12,450	12,039	12,084	12		9
Other interest-earning assets	15,321			17,809	17,614	17,660	14,102	(14)		9
Total interest-earning assets	1,987,317			1,899,295	1,832,510	1,762,160	1,752,317	5		13
Total noninterest-earning assets	180,907			180,482	177,690	171,211	167,344	—		8
Total assets	$	2,168,224		2,079,777	2,010,200	1,933,371	1,919,661	4		13
Liabilities
Interest-bearing deposits	$	1,064,033		1,020,494	984,197	970,684	972,927	4		9
Federal funds purchased and securities loaned or sold under repurchase agreements	242,429			215,871	182,636	130,388	115,503	12		110
Short-term borrowings	29,397			10,869	17,936	6,455	2,459	170		NM
Trading liabilities	35,831			35,702	33,086	30,937	30,561	—		17
Long-term debt	181,875			177,130	175,944	175,289	173,052	3		5
Other interest-bearing liabilities	20,498			19,619	20,382	20,906	18,618	4		10
Total interest-bearing liabilities	1,574,063			1,479,685	1,414,181	1,334,659	1,313,120	6		20
Noninterest-bearing deposits	351,001			357,224	355,742	360,967	366,401	(2)		(4)
Other noninterest-bearing liabilities	59,467			59,024	56,849	54,477	56,782	1		5
Total liabilities	1,984,531			1,895,933	1,826,772	1,750,103	1,736,303	5		14
Total equity	183,693			183,844	183,428	183,268	183,358	—		—
Total liabilities and equity	$	2,168,224		2,079,777	2,010,200	1,933,371	1,919,661	4		13

Average Interest Rates

Interest-earning assets
Interest-earning deposits with banks	3.38		%	3.65	4.01	3.96	3.96
Federal funds sold and securities borrowed or purchased under resale agreements	3.67			3.95	4.22	4.19	4.26
Trading assets	3.89			4.11	3.97	4.02	3.91
Available-for-sale debt securities	4.44			4.60	4.66	4.62	4.48
Held-to-maturity debt securities	2.27			2.27	2.32	2.35	2.41
Loans	5.62			5.78	5.97	5.95	5.96
Equity securities	2.79			2.64	2.22	2.19	2.62
Other interest-earning assets	3.55			4.78	5.61	4.24	4.59
Total interest-earning assets	4.58			4.75	4.88	4.87	4.85
Interest-bearing liabilities
Interest-bearing deposits	1.90			1.94	2.09	2.09	2.17
Federal funds purchased and securities loaned or sold under repurchase agreements	3.74			4.05	4.39	4.40	4.40
Short-term borrowings	4.04			4.47	4.68	5.04	5.48
Trading liabilities	3.15			3.23	3.20	3.19	3.17
Long-term debt	5.25			5.61	5.89	5.95	5.97
Other interest-bearing liabilities	3.60			3.61	3.75	3.61	3.52
Total interest-bearing liabilities	2.66			2.76	2.94	2.89	2.92

Interest rate spread on a taxable-equivalent basis (2)	1.92			1.99	1.94	1.98	1.93
Net interest margin on a taxable-equivalent basis (2)	2.47			2.60	2.61	2.68	2.67

NM – Not meaningful

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

(2)Includes taxable-equivalent adjustments of $72 million, $74 million, $75 million, $77 million, and $77 million for the quarters ended March 31, 2026, and December 31, September 30, June 30, and March 31, 2025, respectively, predominantly related to tax-exempt income on certain loans and securities. The federal statutory tax rate utilized was 21% for the periods presented.

-7-

Wells Fargo & Company and Subsidiaries

COMBINED SEGMENT RESULTS (1)


						Quarter ended March 31, 2026
(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	$	7,551	1,988	2,184	905	(460)	(72)	12,096
Noninterest income	2,447		1,132	3,094	2,970	228	(521)	9,350
Total revenue	9,998		3,120	5,278	3,875	(232)	(593)	21,446
Provision for credit losses	818		150	175	(10)	2	—	1,135
Noninterest expense	6,589		1,608	2,692	3,262	179	—	14,330
Income (loss) before income tax expense (benefit)	2,591		1,362	2,411	623	(413)	(593)	5,981
Income tax expense (benefit)	650		343	602	155	(466)	(593)	691
Net income before noncontrolling interests	1,941		1,019	1,809	468	53	—	5,290
Less: Net income from noncontrolling interests	—		2	—	—	35	—	37
Net income	$	1,941	1,017	1,809	468	18	—	5,253

						Quarter ended December 31, 2025
Net interest income	$	7,661	1,993	2,082	868	(199)	(74)	12,331
Noninterest income	2,449		1,086	2,534	2,953	388	(449)	8,961
Total revenue	10,110		3,079	4,616	3,821	189	(523)	21,292
Provision for credit losses	911		105	78	(9)	(45)	—	1,040
Noninterest expense	6,238		1,443	2,347	3,074	624	—	13,726
Income (loss) before income tax expense (benefit)	2,961		1,531	2,191	756	(390)	(523)	6,526
Income tax expense (benefit)	742		387	552	191	(246)	(523)	1,103
Net income (loss) before noncontrolling interests	2,219		1,144	1,639	565	(144)	—	5,423
Less: Net income from noncontrolling interests	—		2	—	—	60	—	62
Net income (loss)	$	2,219	1,142	1,639	565	(204)	—	5,361

						Quarter ended March 31, 2025
Net interest income	$	7,039	1,977	1,790	730	36	(77)	11,495
Noninterest income	2,344		948	3,274	2,674	(213)	(373)	8,654
Total revenue	9,383		2,925	5,064	3,404	(177)	(450)	20,149
Provision for credit losses	739		187	—	11	(5)	—	932
Noninterest expense	6,342		1,670	2,476	2,946	457	—	13,891
Income (loss) before income tax expense (benefit)	2,302		1,068	2,588	447	(629)	(450)	5,326
Income tax expense (benefit)	570		272	647	98	(615)	(450)	522
Net income (loss) before noncontrolling interests	1,732		796	1,941	349	(14)	—	4,804
Less: Net income (loss) from noncontrolling interests	—		2	—	—	(92)	—	(90)
Net income	$	1,732	794	1,941	349	78	—	4,894

(1)The management reporting process is based on U.S. GAAP and includes specific adjustments, such as for funds transfer pricing for asset/liability management, shared revenues and expenses, and taxable-equivalent adjustments to consistently reflect income from taxable and tax-exempt sources, which allows management to assess performance across the operating segments. We define our operating segments by type of product and customer segment.

(2)All other business activities that are not included in the reportable operating segments have been included in Corporate. Corporate includes corporate treasury and enterprise functions, net of expense allocations, in support of the reportable operating segments (including funds transfer pricing, capital, and liquidity), as well as our investment portfolio and venture capital investments. Corporate also includes results for previously divested businesses.

(3)Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for affordable housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company’s consolidated financial results.

-8-

Wells Fargo & Company and Subsidiaries

CONSUMER BANKING AND LENDING SEGMENT (1)


	Quarter ended						Mar 31, 2026 % Change from
($ in millions)	Mar 31, 2026		Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Income Statement
Net interest income	$	7,551	7,661	7,628	7,305	7,039	(1)	%	7
Noninterest income:
Deposit-related fees	720		693	698	653	651	4		11
Investment advisory and other asset-based fees	264		253	249	232	240	4		10
Commissions and brokerage services fees	115		118	133	111	113	(3)		2
Card fees (2)	1,064		1,088	1,162	1,109	978	(2)		9
Mortgage banking	163		179	199	169	222	(9)		(27)
Other	121		118	103	109	140	3		(14)
Total noninterest income	2,447		2,449	2,544	2,383	2,344	—		4
Total revenue	9,998		10,110	10,172	9,688	9,383	(1)		7
Net charge-offs	820		775	766	818	877	6		(6)
Change in the allowance for credit losses	(2)		136	1	127	(138)	NM		99
Provision for credit losses	818		911	767	945	739	(10)		11
Noninterest expense	6,589		6,238	6,376	6,179	6,342	6		4
Income before income tax expense	2,591		2,961	3,029	2,564	2,302	(12)		13
Income tax expense	650		742	759	641	570	(12)		14
Net income	$	1,941	2,219	2,270	1,923	1,732	(13)		12
Revenue by Line of Business
Consumer, Small and Business Banking	$	7,019	7,130	7,089	6,748	6,451	(2)		9
Credit Card	1,595		1,600	1,663	1,588	1,524	—		5
Home Lending	787		807	870	821	866	(2)		(9)
Auto	295		282	256	241	237	5		24
Personal Lending	302		291	294	290	305	4		(1)
Total revenue	$	9,998	10,110	10,172	9,688	9,383	(1)		7
Selected Balance Sheet Data (average)
Loans by Line of Business:
Consumer, Small and Business Banking (3)	$	17,399	17,201	17,520	9,513	9,448	1		84
Credit Card	53,041		52,898	51,121	49,947	50,109	—		6
Home Lending	198,493		200,226	201,803	203,556	205,507	(1)		(3)
Auto	52,567		48,699	44,775	42,366	42,498	8		24
Personal Lending	13,765		13,977	13,880	13,651	13,902	(2)		(1)
Total loans	$	335,265	333,001	329,099	319,033	321,464	1		4
Total deposits (3)	816,621		807,643	808,942	805,537	799,882	1		2
Allocated capital (4)	33,000		45,500	45,500	45,500	45,500	(27)		(27)

Selected Balance Sheet Data (period-end)
Loans by Line of Business:
Consumer, Small and Business Banking (3)	$	17,891	17,203	17,755	9,696	9,633	4		86
Credit Card	52,266		54,059	51,572	50,084	49,518	(3)		6
Home Lending	198,516		199,742	201,345	203,062	204,656	(1)		(3)
Auto	54,279		50,954	46,524	43,373	41,999	7		29
Personal Lending	13,608		14,052	13,984	13,790	13,656	(3)		—
Total loans	$	336,560	336,010	331,180	320,005	319,462	—		5
Total deposits (3)	840,556		821,100	810,992	806,572	821,261	2		2

NM – Not meaningful

(1)In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been revised to conform with the current period presentation.

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

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

(4)In first quarter 2026, we updated our assumptions and methodologies used to allocate capital as part of our periodic assessments.

-9-

Wells Fargo & Company and Subsidiaries

CONSUMER BANKING AND LENDING SEGMENT (continued)


	Quarter ended							Mar 31, 2026 % Change from
($ in millions, unless otherwise noted)	Mar 31, 2026			Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Selected Metrics
Consumer Banking and Lending:
Return on allocated capital (1)(2)	23.1		%	18.8	19.2	16.4	14.9
Efficiency ratio (1)(3)	66			62	63	64	68
Retail bank branches (#, period-end)	4,093			4,090	4,108	4,135	4,155	—	%	(1)
Digital active customers (# in millions, period-end) (4)	38.1			37.2	37.0	36.6	36.7	2		4
Mobile active customers (# in millions, period-end) (4)	33.5			32.8	32.5	32.1	31.8	2		5

Consumer, Small and Business Banking:
Deposit spread (1)(5)	2.58		%	2.60	2.59	2.53	2.44
Debit card purchase volume ($ in billions) (6)	$	134.3		137.3	133.6	133.6	126.0	(2)		7
Debit card purchase transactions (# in millions) (6)	2,582			2,696	2,674	2,655	2,486	(4)		4
Client assets in advisory and brokerage accounts ($ in billions, period-end) (7)	$	261		265	262	249	237	(2)		10

Home Lending:





Mortgage loan originations ($ in billions)	$	6.3		7.5	7.0	7.4	4.4	(16)		43
% of originations held for sale (HFS)	24.4		%	21.9	31.0	34.0	38.2
Third party mortgage loans serviced ($ in billions, period-end) (8)	$	386.6		397.0	433.8	455.5	471.1	(3)		(18)

Home lending loans 30+ days delinquency rate (period-end) (9)(10)(11)	0.30		%	0.31	0.32	0.30	0.29

Credit Card (6)(12):
Credit card purchase volume ($ in billions)	$	40.0		42.2	40.3	39.9	36.7	(5)		9
Credit card new accounts (# in thousands)	631			710	707	452	396	(11)		59
Credit card loans 30+ days delinquency rate (period-end) (10)(11)	2.77		%	2.78	2.68	2.63	2.81
Credit card loans 90+ days delinquency rate (period-end) (10)(11)	1.45			1.42	1.34	1.32	1.45

Auto:
Auto loan originations ($ in billions)	$	9.7		10.2	8.8	6.9	4.6	(5)		111
Auto loans 30+ days delinquency rate (period-end) (10)(11)	1.26		%	1.52	1.54	1.72	1.87

(2)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.

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

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

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

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

(7)In first quarter 2026, we moved the client assets, including advisory and other brokerage assets and deposits, associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been included to conform with the current period presentation.

(8)Excludes residential mortgage loans subserviced for others.

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

(10)Excludes loans held for sale.

(11)Delinquency balances exclude nonaccrual loans.

(12)In first quarter 2026, credit card metrics were revised to exclude co-branded cards. Prior period balances have been revised to conform with the current period presentation.

-10-

Wells Fargo & Company and Subsidiaries

COMMERCIAL BANKING SEGMENT


	Quarter ended							Mar 31, 2026 % Change from
($ in millions)	Mar 31, 2026			Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Income Statement
Net interest income	$	1,988		1,993	1,949	1,983	1,977	—	%	1
Noninterest income:
Deposit-related fees	319			320	311	324	335	—		(5)
Lending-related fees	150			147	144	138	136	2		10
Lease income	121			115	119	116	123	5		(2)
Other	542			504	518	372	354	8		53
Total noninterest income	1,132			1,086	1,092	950	948	4		19
Total revenue	3,120			3,079	3,041	2,933	2,925	1		7
Net charge-offs	58			96	83	98	41	(40)		41
Change in the allowance for credit losses	92			9	(44)	(141)	146	922		(37)
Provision for credit losses	150			105	39	(43)	187	43		(20)
Noninterest expense	1,608			1,443	1,445	1,519	1,670	11		(4)
Income before income tax expense	1,362			1,531	1,557	1,457	1,068	(11)		28
Income tax expense	343			387	393	369	272	(11)		26
Less: Net income from noncontrolling interests	2			2	2	2	2	—		—
Net income	$	1,017		1,142	1,162	1,086	794	(11)		28

Revenue by Product
Lending and leasing	$	1,250		1,254	1,251	1,262	1,267	—		(1)
Treasury management and payments	1,304			1,284	1,206	1,250	1,260	2		3
Other	566			541	584	421	398	5		42
Total revenue	$	3,120		3,079	3,041	2,933	2,925	1		7

Selected Metrics
Return on allocated capital	15.0		%	16.5	16.8	15.8	11.4
Efficiency ratio	52			47	48	52	57

-11-

Wells Fargo & Company and Subsidiaries

COMMERCIAL BANKING SEGMENT (continued)


	Quarter ended						Mar 31, 2026 % Change from
($ in millions)	Mar 31, 2026		Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Selected Balance Sheet Data (average)
Loans:
Commercial and industrial	$	174,308	170,565	166,946	167,134	164,113	2	%	6
Commercial real estate	39,481		38,405	37,605	44,373	44,598	3		(11)
Lease financing and other	15,271		15,046	14,805	14,954	15,093	1		1
Total loans (1)	$	229,060	224,016	219,356	226,461	223,804	2		2

Total deposits (1)	185,897		180,989	171,976	177,994	182,859	3		2
Allocated capital	26,000		26,000	26,000	26,000	26,000	—		—

Selected Balance Sheet Data (period-end)
Loans:
Commercial and industrial	$	181,173	173,931	170,031	169,958	168,369	4		8
Commercial real estate	40,029		39,227	38,030	44,484	44,788	2		(11)
Lease financing and other	15,375		15,469	15,174	15,102	15,109	(1)		2
Total loans (1)	$	236,577	228,627	223,235	229,544	228,266	3		4

Total deposits (1)	189,802		190,004	176,954	179,848	181,469	—		5

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

-12-

Wells Fargo & Company and Subsidiaries

CORPORATE AND INVESTMENT BANKING SEGMENT


	Quarter ended							Mar 31, 2026 % Change from
($ in millions)	Mar 31, 2026			Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Income Statement
Net interest income	$	2,184		2,082	1,870	1,815	1,790	5	%	22
Noninterest income:
Deposit-related fees	274			272	273	266	275	1		—
Lending-related fees	217			220	214	209	201	(1)		8
Investment banking fees	844			694	826	700	765	22		10
Net gains from trading activities	1,382			927	1,367	1,335	1,358	49		2
Other	377			421	329	348	675	(10)		(44)
Total noninterest income	3,094			2,534	3,009	2,858	3,274	22		(5)
Total revenue	5,278			4,616	4,879	4,673	5,064	14		4
Net charge-offs	224			182	96	75	97	23		131
Change in the allowance for credit losses	(49)			(104)	(203)	28	(97)	53		49
Provision for credit losses	175			78	(107)	103	—	124		NM
Noninterest expense	2,692			2,347	2,362	2,251	2,476	15		9
Income before income tax expense	2,411			2,191	2,624	2,319	2,588	10		(7)
Income tax expense	602			552	658	582	647	9		(7)

Net income	$	1,809		1,639	1,966	1,737	1,941	10		(7)

Revenue by Line of Business
Banking:
Lending	$	700		656	647	601	618	7		13
Treasury Management and Payments	655			648	630	611	618	1		6
Investment Banking	602			457	554	463	534	32		13
Total Banking	1,957			1,761	1,831	1,675	1,770	11		11
Commercial Real Estate	1,146			1,236	1,186	1,212	1,449	(7)		(21)
Markets:
Fixed Income, Currencies, and Commodities (FICC)	1,583			1,164	1,355	1,391	1,382	36		15
Equities	543			453	450	387	448	20		21
Credit Adjustment (CVA/DVA/FVA) and Other	47			(15)	48	1	(3)	413		NM
Total Markets	2,173			1,602	1,853	1,779	1,827	36		19
Other	2			17	9	7	18	(88)		(89)
Total revenue	$	5,278		4,616	4,879	4,673	5,064	14		4

Selected Metrics
Return on allocated capital	14.9		%	13.8	16.8	14.9	17.0
Efficiency ratio	51			51	48	48	49

NM – Not meaningful

-13-

Wells Fargo & Company and Subsidiaries

CORPORATE AND INVESTMENT BANKING SEGMENT (continued)


	Quarter ended						Mar 31, 2026 % Change from
($ in millions)	Mar 31, 2026		Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Selected Balance Sheet Data (average)
Loans:
Commercial and industrial	$	262,181	233,429	214,774	202,473	192,654	12	%	36
Commercial real estate	80,134		79,437	81,121	83,413	84,633	1		(5)
Total loans	$	342,315	312,866	295,895	285,886	277,287	9		23

Loans by Line of Business:
Banking	$	117,741	100,961	92,787	88,994	86,528	17		36
Commercial Real Estate	119,452		116,584	117,115	117,917	117,318	2		2
Markets	105,122		95,321	85,993	78,975	73,441	10		43
Total loans	$	342,315	312,866	295,895	285,886	277,287	9		23
Trading-related assets:
Trading assets, excluding derivative assets	$	205,653	197,928	177,045	158,449	159,548	4		29
Derivative assets	22,375		22,392	22,682	23,404	19,688	—		14
Reverse repurchase agreements/securities borrowed	169,870		144,040	115,868	101,894	97,171	18		75
Total trading-related assets	$	397,898	364,360	315,595	283,747	276,407	9		44
Total assets	801,973		735,281	679,877	641,499	611,037	9		31
Total deposits	214,345		214,520	204,056	202,420	203,914	—		5
Allocated capital (1)	46,500		44,000	44,000	44,000	44,000	6		6

Selected Balance Sheet Data (period-end)
Loans:
Commercial and industrial	$	272,820	253,004	224,462	208,161	197,142	8		38
Commercial real estate	80,331		80,505	79,518	82,417	83,522	—		(4)
Total loans	$	353,151	333,509	303,980	290,578	280,664	6		26

Loans by Line of Business:
Banking	$	124,115	111,260	95,215	90,999	88,239	12		41
Commercial Real Estate	119,402		118,516	116,314	117,233	116,051	1		3
Markets	109,634		103,733	92,451	82,346	76,374	6		44
Total loans	$	353,151	333,509	303,980	290,578	280,664	6		26
Trading-related assets:
Trading assets, excluding derivative assets	$	198,601	205,356	202,471	168,029	160,166	(3)		24
Derivative assets	23,221		22,474	22,574	24,700	18,883	3		23
Reverse repurchase agreements/securities borrowed	166,833		170,661	130,196	100,268	122,875	(2)		36
Total trading-related assets	$	388,655	398,491	355,241	292,997	301,924	(2)		29
Total assets	805,350		787,751	715,683	658,029	632,478	2		27
Total deposits	214,501		224,146	211,051	208,048	209,200	(4)		3

(1)In first quarter 2026, we updated our assumptions and methodologies used to allocate capital as part of our periodic assessments.

-14-

Wells Fargo & Company and Subsidiaries

WEALTH AND INVESTMENT MANAGEMENT (WIM) SEGMENT (1)


	Quarter ended							Mar 31, 2026 % Change from
($ in millions, unless otherwise noted)	Mar 31, 2026			Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Income Statement
Net interest income	$	905		868	851	785	730	4	%	24
Noninterest income:
Investment advisory and other asset-based fees	2,503			2,492	2,353	2,208	2,234	—		12
Commissions and brokerage services fees	438			442	424	400	421	(1)		4
Other	29			19	46	45	19	53		53
Total noninterest income	2,970			2,953	2,823	2,653	2,674	1		11
Total revenue	3,875			3,821	3,674	3,438	3,404	1		14
Net charge-offs	(1)			—	(1)	6	(6)	NM		83
Change in the allowance for credit losses	(9)			(9)	(13)	6	17	—		NM
Provision for credit losses	(10)			(9)	(14)	12	11	(11)		NM
Noninterest expense	3,262			3,074	3,013	2,865	2,946	6		11
Income before income tax expense	623			756	675	561	447	(18)		39
Income tax expense	155			191	169	141	98	(19)		58

Net income	$	468		565	506	420	349	(17)		34

Selected Metrics
Return on allocated capital	28.4		%	33.6	29.9	25.0	20.9
Efficiency ratio	84			80	82	83	87
Client assets ($ in billions, period-end):
Advisory assets	$	1,119		1,127	1,104	1,042	980	(1)		14
Other brokerage assets and deposits	1,364			1,382	1,369	1,304	1,253	(1)		9
Total Company-wide client assets (2)	$	2,483		2,509	2,473	2,346	2,233	(1)		11

Total WIM client assets	$	2,222		2,244	2,211	2,097	1,996	(1)		11

Selected Balance Sheet Data (average)
Total loans	$	88,386		84,949	82,330	81,271	80,930	4		9
Total deposits	112,098			105,542	99,764	99,458	102,097	6		10
Allocated capital	6,500			6,500	6,500	6,500	6,500	—		—

Selected Balance Sheet Data (period-end)
Total loans	$	89,537		87,106	83,786	81,327	80,955	3		11
Total deposits	113,659			117,478	103,957	97,318	102,162	(3)		11

NM – Not meaningful

(1)In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. Prior period balances have been revised to conform with the current period presentation.

(2)Includes amounts for clients of the Consumer Banking and Lending operating segment.

-15-

Wells Fargo & Company and Subsidiaries

CORPORATE (1)


	Quarter ended						Mar 31, 2026 % Change from
($ in millions)	Mar 31, 2026		Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Income Statement
Net interest income	$	(460)	(199)	(273)	(103)	36	NM		NM
Noninterest income	228		388	449	662	(213)	(41)	%	207
Total revenue	(232)		189	176	559	(177)	NM		(31)
Net charge-offs	5		(23)	10	—	—	122		NM
Change in the allowance for credit losses	(3)		(22)	(14)	(12)	(5)	86		40
Provision for credit losses	2		(45)	(4)	(12)	(5)	104		140
Noninterest expense	179		624	650	565	457	(71)		(61)
Income (loss) before income tax benefit	(413)		(390)	(470)	6	(629)	(6)		34
Income tax benefit	(466)		(246)	(173)	(348)	(615)	(89)		24
Less: Net income (loss) from noncontrolling interests	35		60	18	26	(92)	(42)		138
Net income (loss)	$	18	(204)	(315)	328	78	109		(77)

Selected Balance Sheet Data (average)
Available-for-sale debt securities	$	208,869	203,202	188,103	172,879	161,430	3		29
Held-to-maturity debt securities	202,212		206,595	214,409	220,364	226,714	(2)		(11)
Equity securities	17,487		16,062	16,450	15,493	15,398	9		14
Total assets	649,698		638,732	636,359	601,010	618,339	2		5
Total deposits	86,073		69,024	55,201	46,242	50,576	25		70

Selected Balance Sheet Data (period-end)
Available-for-sale debt securities	$	214,935	205,670	198,665	176,235	167,634	5		28
Held-to-maturity debt securities	200,842		204,811	211,069	218,360	224,111	(2)		(10)
Equity securities	17,091		16,451	16,273	15,907	15,138	4		13
Total assets	669,736		638,664	642,044	624,556	621,445	5		8
Total deposits	96,421		73,479	64,407	48,917	47,636	31		102

NM – Not meaningful

(1)All other business activities that are not included in the reportable operating segments have been included in Corporate. Corporate includes corporate treasury and enterprise functions, net of expense allocations, in support of the reportable operating segments (including funds transfer pricing, capital, and liquidity), as well as our investment portfolio and venture capital investments. Corporate also includes results for previously divested businesses.

-16-

Wells Fargo & Company and Subsidiaries

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


	Quarter ended							Mar 31, 2026 $ Change from
($ in millions)	Mar 31, 2026			Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025	Mar 31, 2025
Period-End Loans
Commercial and industrial	$	481,915		452,068	417,904	402,150	390,533	29,847	91,382


Commercial real estate	132,213			132,284	130,250	132,560	134,035	(71)	(1,822)
Lease financing	15,512			15,543	15,311	15,060	16,131	(31)	(619)
Total commercial	629,640			599,895	563,465	549,770	540,699	29,745	88,941



Residential mortgage	240,839			242,190	243,910	245,755	247,613	(1,351)	(6,774)
Credit card	57,277			59,540	56,996	55,318	54,608	(2,263)	2,669
Auto	53,794			50,487	46,041	42,878	41,482	3,307	12,312
Other consumer (1)	35,237			34,055	32,690	30,697	29,440	1,182	5,797
Total consumer	387,147			386,272	379,637	374,648	373,143	875	14,004
Total loans	$	1,016,787		986,167	943,102	924,418	913,842	30,620	102,945

Average Loans
Commercial and industrial	$	463,064		427,616	405,753	393,602	381,702	35,448	81,362
Commercial real estate	132,134			130,507	131,623	133,661	135,271	1,627	(3,137)
Lease financing	15,462			15,243	14,986	16,046	16,182	219	(720)
Total commercial	610,660			573,366	552,362	543,309	533,155	37,294	77,505
Residential mortgage	241,078			242,848	244,562	246,512	248,739	(1,770)	(7,661)
Credit card	58,215			58,245	56,420	54,985	55,363	(30)	2,852
Auto	52,099			48,231	44,292	41,865	41,967	3,868	10,132
Other consumer	33,973			33,159	31,041	30,048	28,958	814	5,015
Total consumer	385,365			382,483	376,315	373,410	375,027	2,882	10,338
Total loans	$	996,025		955,849	928,677	916,719	908,182	40,176	87,843

Average Interest Rates
Commercial and industrial	5.68		%	5.94	6.26	6.29	6.34
Commercial real estate	5.62			5.94	6.15	6.17	6.19
Lease financing	5.81			5.86	5.85	5.72	5.78
Total commercial	5.67			5.93	6.23	6.24	6.28
Residential mortgage	3.72			3.72	3.72	3.70	3.68
Credit card	12.31			12.27	12.70	12.65	12.74
Auto	5.72			5.70	5.59	5.48	5.33
Other consumer	6.66			6.98	7.40	7.47	7.61
Total consumer	5.55			5.55	5.59	5.52	5.51
Total loans	5.62			5.78	5.97	5.95	5.96

(1)Includes $28.2 billion, $26.2 billion, $25.1 billion, $23.1 billion, and $21.7 billion at March 31, 2026, and December 31, September 30, June 30, and March 31, 2025, respectively, of securities-based loans originated by the Wealth and Investment Management operating segment.

-17-

Wells Fargo & Company and Subsidiaries

NET LOAN CHARGE-OFFS


	Quarter ended
	Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025				Mar 31, 2026 $ Change from
($ in millions)	Net loan charge-offs		As a % of average loans (1)		Net loan charge-offs		As a % of average loans (1)		Net loan charge-offs		As a % of average loans (1)		Net loan charge-offs		As a % of average loans (1)		Net loan charge-offs		As a % of average loans (1)		Dec 31, 2025		Mar 31, 2025
By product:
Commercial and industrial	$	331	0.29	%	$	157	0.15	%	$	131	0.13	%	$	179	0.18	%	$	108	0.11	%	$	174	223


Commercial real estate	19		0.06		158		0.48		107		0.32		61		0.18		95		0.28		(139)		(76)
Lease financing	10		0.26		10		0.26		12		0.32		7		0.17		8		0.20		—		2
Total commercial	360		0.24		325		0.22		250		0.18		247		0.18		211		0.16		35		149


Residential mortgage	(14)		(0.02)		(13)		(0.02)		(22)		(0.04)		(3)		—		(15)		(0.02)		(1)		1
Credit card	605		4.21		583		3.97		571		4.02		622		4.54		650		4.76		22		(45)
Auto	63		0.49		60		0.49		50		0.45		30		0.29		64		0.62		3		(1)
Other consumer	86		1.03		91		1.09		93		1.19		101		1.35		99		1.39		(5)		(13)
Total consumer	740		0.78		721		0.75		692		0.73		750		0.81		798		0.86		19		(58)
Total net loan charge-offs	$	1,100	0.45	%	$	1,046	0.43	%	$	942	0.40	%	$	997	0.44	%	$	1,009	0.45	%	$	54	91
By segment:
Consumer Banking and Lending	$	820	0.99	%	$	775	0.93	%	$	766	0.93	%	$	818	1.04	%	$	877	1.12	%	$	45	(57)
Commercial Banking	57		0.10		90		0.16		83		0.15		98		0.17		41		0.07		(33)		16
Corporate and Investing Banking	224		0.27		181		0.23		94		0.13		75		0.11		97		0.14		43		127
Wealth and Investment Management	(1)		—		—		—		(1)		—		6		0.03		(6)		(0.03)		(1)		5
Corporate	—		—		—		—		—		—		—		—		—		—		—		—
Total net loan charge-offs	$	1,100	0.45	%	$	1,046	0.43	%	$	942	0.40	%	$	997	0.44	%	$	1,009	0.45	%	$	54	91

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

-18-

Wells Fargo & Company and Subsidiaries

CHANGES IN ALLOWANCE FOR CREDIT LOSSES FOR LOANS


	Quarter ended							Mar 31, 2026 $ Change from
($ in millions)	Mar 31, 2026			Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025	Mar 31, 2025


Balance, beginning of period	$	14,337		14,311	14,568	14,552	14,636	26	(299)
Provision for credit losses for loans	1,139			1,071	687	1,007	925	68	214
Net loan charge-offs:
Commercial and industrial	(331)			(157)	(131)	(179)	(108)	(174)	(223)


Commercial real estate	(19)			(158)	(107)	(61)	(95)	139	76
Lease financing	(10)			(10)	(12)	(7)	(8)	—	(2)
Total commercial	(360)			(325)	(250)	(247)	(211)	(35)	(149)


Residential mortgage	14			13	22	3	15	1	(1)
Credit card	(605)			(583)	(571)	(622)	(650)	(22)	45
Auto	(63)			(60)	(50)	(30)	(64)	(3)	1
Other consumer	(86)			(91)	(93)	(101)	(99)	5	13
Total consumer	(740)			(721)	(692)	(750)	(798)	(19)	58
Net loan charge-offs	(1,100)			(1,046)	(942)	(997)	(1,009)	(54)	(91)
Other	(2)			1	(2)	6	—	(3)	(2)
Balance, end of period	$	14,374		14,337	14,311	14,568	14,552	37	(178)
Components:
Allowance for loan losses	$	13,864		13,797	13,744	13,961	14,029	67	(165)
Allowance for unfunded credit commitments	510			540	567	607	523	(30)	(13)
Allowance for credit losses for loans	$	14,374		14,337	14,311	14,568	14,552	37	(178)
Ratio of allowance for loan losses to total net loan charge-offs (annualized)	3.11x			3.32	3.68	3.49	3.43
Allowance for loan losses as a percentage of:
Total loans	1.36		%	1.40	1.46	1.51	1.54
Nonaccrual loans	164			168	181	180	176
Allowance for credit losses for loans as a percentage of:
Total loans	1.41			1.45	1.52	1.58	1.59
Nonaccrual loans	170			175	188	188	182

-19-

Wells Fargo & Company and Subsidiaries

ALLOCATION OF ALLOWANCE FOR CREDIT LOSSES FOR LOANS


	Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025
($ 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	$	4,840	1.00	%	$	4,510	1.00	%	$	4,376	1.05	%	$	4,306	1.07	%	$	4,331	1.11	%


Commercial real estate	2,478		1.87		2,737		2.07		2,965		2.28		3,317		2.50		3,365		2.51
Lease financing	211		1.36		210		1.35		211		1.38		212		1.41		234		1.45
Total commercial	7,529		1.20		7,457		1.24		7,552		1.34		7,835		1.43		7,930		1.47



Residential mortgage (1)	525		0.22		555		0.23		569		0.23		568		0.23		542		0.22
Credit card	4,902		8.56		4,956		8.32		4,907		8.61		4,910		8.88		4,840		8.86
Auto	878		1.63		817		1.62		717		1.56		657		1.53		629		1.52
Other consumer	540		1.53		552		1.62		566		1.73		598		1.95		611		2.08
Total consumer	6,845		1.77		6,880		1.78		6,759		1.78		6,733		1.80		6,622		1.77
Total allowance for credit losses for loans	$	14,374	1.41	%	$	14,337	1.45	%	$	14,311	1.52	%	$	14,568	1.58	%	$	14,552	1.59	%
By segment:
Consumer Banking and Lending	$	7,732	2.30	%	$	7,734	2.30	%	$	7,599	2.29	%	$	7,458	2.33	%	$	7,332	2.30	%
Commercial Banking	2,287		0.97		2,194		0.96		2,184		0.98		2,368		1.03		2,509		1.10
Corporate and Investing Banking	4,122		1.17		4,167		1.25		4,275		1.41		4,470		1.54		4,444		1.58
Wealth and Investment Management	232		0.26		241		0.28		251		0.30		264		0.32		258		0.32
Corporate	1		0.10		1		0.11		2		0.22		8		0.27		9		0.20
Total allowance for credit losses for loans	$	14,374	1.41	%	$	14,337	1.45	%	$	14,311	1.52	%	$	14,568	1.58	%	$	14,552	1.59	%

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

-20-

Wells Fargo & Company and Subsidiaries

NONPERFORMING ASSETS (NONACCRUAL LOANS AND FORECLOSED ASSETS)


	Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025				Mar 31, 2026 $ Change from
($ in millions)	Balance		% of total loans		Balance		% of total loans		Balance		% of total loans		Balance		% of total loans		Balance		% of total loans		Dec 31, 2025		Mar 31, 2025
By product:
Nonaccrual loans:
Commercial and industrial	$	1,646	0.34	%	$	1,312	0.29	%	$	1,050	0.25	%	$	925	0.23	%	$	969	0.25	%	$	334	677


Commercial real estate	3,779		2.86		3,879		2.93		3,334		2.56		3,556		2.68		3,836		2.86		(100)		(57)
Lease financing	88		0.57		75		0.48		75		0.49		82		0.54		78		0.48		13		10
Total commercial	5,513		0.88		5,266		0.88		4,459		0.79		4,563		0.83		4,883		0.90		247		630



Residential mortgage (1)	2,860		1.19		2,838		1.17		3,057		1.25		3,090		1.26		2,982		1.20		22		(122)
Auto	70		0.13		70		0.14		71		0.15		76		0.18		83		0.20		—		(13)
Other consumer	26		0.07		27		0.08		27		0.08		28		0.09		30		0.10		(1)		(4)
Total consumer	2,956		0.76		2,935		0.76		3,155		0.83		3,194		0.85		3,095		0.83		21		(139)
Total nonaccrual loans	8,469		0.83		8,201		0.83		7,614		0.81		7,757		0.84		7,978		0.87		268		491



Foreclosed assets	299				302				218				207				247				(3)		52
Total nonperforming assets	$	8,768	0.86	%	$	8,503	0.86	%	$	7,832	0.83	%	$	7,964	0.86	%	$	8,225	0.90	%	$	265	543
By segment:
Consumer Banking and Lending	$	2,966	0.88	%	$	2,941	0.88	%	$	3,181	0.97	%	$	3,054	0.97	%	$	3,011	0.95	%	$	25	(45)
Commercial Banking	1,668		0.71		1,324		0.58		1,086		0.49		1,489		0.65		1,536		0.67		344		132
Corporate and Investing Banking	3,860		1.09		3,973		1.19		3,276		1.08		3,132		1.08		3,442		1.23		(113)		418
Wealth and Investment Management	274		0.31		265		0.29		289		0.33		289		0.34		236		0.28		9		38
Corporate	—		—		—		—		—		—		—		—		—		—		—		—
Total nonperforming assets	$	8,768	0.86	%	$	8,503	0.86	%	$	7,832	0.83	%	$	7,964	0.86	%	$	8,225	0.90	%	$	265	543

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

-21-

Wells Fargo & Company and Subsidiaries

COMMERCIAL LOAN PORTFOLIO


	Mar 31, 2026			Dec 31, 2025			Mar 31, 2025
($ in millions)	Nonaccrual loans		Loans outstanding balance	Total commitments (1)	Nonaccrual loans	Loans outstanding balance		Total commitments (1)	Nonaccrual loans	Loans outstanding balance	Total commitments (1)
Commercial and industrial loans and lease financing by industry:
Financials except banks
Asset managers and funds (2)(3)	$	—	76,233	130,181	1	69,752		126,027	1	54,470	100,544
Commercial finance (4)	94		62,139	98,017	108	60,955		97,757	2	51,969	84,815
Consumer finance (5)	124		33,849	48,991	129	27,794		45,321	1	20,209	35,848
Real estate finance (6)	19		37,945	42,277	7	34,514		39,043	12	24,916	28,109
Total financials except banks (3)	237		210,166	319,466	245	193,015		308,148	16	151,564	249,316
Technology, telecom and media	283		30,060	77,594	49	26,552		78,922	68	23,259	60,552
Real estate and construction	82		30,045	62,974	66	29,321		60,900	95	25,411	54,272
Equipment, machinery and parts manufacturing	29		27,972	54,497	33	25,985		54,078	31	25,563	50,572
Retail	143		20,024	43,841	208	19,644		42,865	268	18,623	45,408
Materials and commodities	98		15,082	38,026	100	13,609		35,731	119	14,476	33,883
Oil, gas and pipelines	2		12,367	35,040	3	10,237		31,738	3	10,950	30,638
Food and beverage manufacturing	349		16,886	32,642	286	17,838		33,951	9	16,316	32,215
Auto related	6		17,154	32,452	7	16,984		32,169	7	16,505	31,013
Health care and pharmaceuticals	23		13,242	32,049	22	13,513		31,552	62	13,590	30,564
Diversified or miscellaneous	56		13,758	31,608	58	11,905		29,908	10	10,295	25,897
Utilities	17		8,946	28,618	18	8,232		28,187	1	7,030	25,221
Commercial services	67		12,244	28,329	65	11,481		27,563	88	11,148	27,462
Entertainment and recreation	130		13,835	21,591	17	13,208		20,841	42	13,786	24,967
Insurance and fiduciaries	1		5,658	18,933	1	6,128		19,223	1	5,456	16,832
Transportation services	146		8,888	17,278	156	8,237		16,737	149	9,418	16,563




Other (3)	65		41,100	59,907	53	41,722		61,008	78	33,274	52,423
Total commercial and industrial loans and lease financing	1,734		497,427	934,845	1,387	467,611		913,521	1,047	406,664	807,798
Commercial real estate loans by property type (7):
Apartments	396		36,605	41,787	386	36,974		41,554	352	39,537	43,808
Industrial/warehouse	39		27,469	32,203	42	25,959		31,377	67	23,286	25,576
Office	2,394		20,736	21,689	2,461	21,958		23,360	2,897	26,415	27,611
Hotel/motel	735		12,344	12,885	719	12,764		13,154	239	11,606	12,004
Retail (excluding shopping center)	40		10,287	11,696	43	10,568		11,476	145	11,296	11,915
Shopping center	3		9,477	10,267	53	9,353		9,800	97	7,969	8,404
Institutional	10		5,016	5,422	11	5,402		5,852	13	5,095	5,365



Other	162		10,279	12,112	164	9,306		11,080	26	8,831	10,959
Total commercial real estate loans	3,779		132,213	148,061	3,879	132,284		147,653	3,836	134,035	145,642
Total commercial loans	$	5,513	629,640	1,082,906	5,266	599,895		1,061,174	4,883	540,699	953,440

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

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

(3)In first quarter 2026, we reclassified prime brokerage margin loans from the asset managers and funds category within the financials except banks industry category to Other. Prior period balances have been revised to conform with the current period presentation.

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

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

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

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

-22-

Wells Fargo & Company and Subsidiaries
TANGIBLE COMMON EQUITY

We also evaluate our business based on certain ratios that utilize tangible common equity. Tangible common equity is a non-GAAP financial measure and represents total equity less preferred equity, noncontrolling interests, goodwill, certain identifiable intangible assets (other than MSRs) and goodwill and other intangibles on venture capital investments in consolidated portfolio companies, net of applicable deferred taxes. The ratios are (i) tangible book value per common share, which represents tangible common equity divided by common shares outstanding; and (ii) return on average tangible common equity (ROTCE), which represents our annualized earnings as a percentage of tangible common equity. The methodology of determining tangible common equity may differ among companies. Management believes that tangible book value per common share and return on average tangible common equity, which utilize tangible common equity, are useful financial measures because they enable management, investors, and others to assess the Company’s use of equity.

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


								Mar 31, 2026 % Change from
($ in millions)		Mar 31, 2026		Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Tangible book value per common share:
Total equity		$	180,313	183,038	183,012	182,954	182,906	(1)	%	(1)
Adjustments:
Preferred stock		(15,348)		(16,608)	(16,608)	(16,608)	(18,608)	8		18
Additional paid-in capital on preferred stock		139		141	141	141	145	(1)		(4)

Noncontrolling interests		(1,916)		(1,920)	(1,858)	(1,843)	(1,816)	—		(6)
Total common stockholders' equity	(A)	163,188		164,651	164,687	164,644	162,627	(1)		—
Adjustments:
Goodwill		(24,965)		(24,967)	(25,069)	(25,071)	(25,066)	—		—
Certain identifiable intangible assets (other than MSRs)		(765)		(823)	(863)	(902)	(65)	7		NM
Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets)		(705)		(705)	(698)	(674)	(674)	—		(5)
Applicable deferred taxes related to goodwill and other intangible assets (1)		1,064		1,063	1,062	1,060	954	—		12
Tangible common equity	(B)	$	137,817	139,219	139,119	139,057	137,776	(1)		—
Common shares outstanding	(C)	3,064.3		3,092.6	3,148.9	3,220.4	3,261.7	(1)		(6)
Book value per common share	(A)/(C)	$	53.25	53.24	52.30	51.13	49.86	—		7
Tangible book value per common share	(B)/(C)	44.98		45.02	44.18	43.18	42.24	—		6

NM – Not meaningful

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

-23-

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


		Quarter ended						Mar 31, 2026 % Change from
($ in millions)		Mar 31, 2026			Dec 31, 2025	Sep 30, 2025	Jun 30, 2025		Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Return on average tangible common equity:
Net income applicable to common stock	(A)	$	5,000		5,114	5,341	5,214		4,616	(2)	%	8
Average total equity		183,693			183,844	183,428	183,268		183,358	—		—
Adjustments:
Preferred stock		(16,333)			(16,608)	(16,608)	(18,278)		(18,608)	2		12
Additional paid-in capital on preferred stock		140			141	141	143		145	(1)		(3)

Noncontrolling interests		(1,915)			(1,879)	(1,850)	(1,818)		(1,894)	(2)		(1)
Average common stockholders’ equity	(B)	165,585			165,498	165,111	163,315		163,001	—		2
Adjustments:
Goodwill		(24,967)			(25,055)	(25,070)	(25,070)		(25,135)	—		1
Certain identifiable intangible assets (other than MSRs)		(788)			(847)	(889)	(863)		(69)	7		NM
Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets)		(705)			(698)	(674)	(674)		(734)	(1)		4
Applicable deferred taxes related to goodwill and other intangible assets (1)		1,063			1,063	1,061	989		952	—		12
Average tangible common equity	(C)	$	140,188		139,961	139,539	137,697		138,015	—		2
Return on average common stockholders’ equity (ROE) (annualized)	(A)/(B)	12.2		%	12.3	12.8	12.8		11.5
Return on average tangible common equity (ROTCE) (annualized)	(A)/(C)	14.5			14.5	15.2	15.2		13.6

NM – Not meaningful

-24-

Wells Fargo & Company and Subsidiaries

RISK-BASED CAPITAL RATIOS UNDER BASEL III (1)


		Estimated
($ in billions)		Mar 31, 2026			Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025
Total equity		$	180.3		183.0	183.0	183.0	182.9


Adjustments:
Preferred stock		(15.3)			(16.6)	(16.6)	(16.6)	(18.6)
Additional paid-in capital on preferred stock		0.1			0.1	0.2	0.1	0.1
Noncontrolling interests		(1.9)			(1.8)	(1.9)	(1.9)	(1.8)
Total common stockholders' equity		163.2			164.7	164.7	164.6	162.6
Adjustments:
Goodwill		(25.0)			(25.0)	(25.1)	(25.1)	(25.1)
Certain identifiable intangible assets (other than MSRs)		(0.8)			(0.8)	(0.9)	(0.9)	(0.1)
Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets)		(0.7)			(0.7)	(0.7)	(0.7)	(0.7)
Applicable deferred taxes related to goodwill and other intangible assets (2)		1.1			1.1	1.1	1.1	1.0
Other		(2.4)			(2.0)	(2.5)	(2.6)	(2.1)
Common Equity Tier 1 under the Standardized and Advanced Approaches	(A)	135.4			137.3	136.6	136.4	135.6
Preferred stock		15.3			16.6	16.6	16.6	18.6
Additional paid-in capital on preferred stock		(0.1)			(0.1)	(0.2)	(0.1)	(0.1)
Other		(0.2)			(0.2)	(0.2)	(0.2)	(0.2)
Total Tier 1 capital under the Standardized and Advanced Approaches	(B)	150.4			153.6	152.8	152.7	153.9

Long-term debt and other instruments qualifying as Tier 2		17.0			16.7	16.7	17.3	17.6
Qualifying allowance for credit losses (3)		14.7			14.7	14.6	14.6	14.4
Other		(0.3)			(0.3)	(0.4)	(0.4)	(0.4)
Total Tier 2 capital under the Standardized Approach	(C)	31.4			31.1	30.9	31.5	31.6
Total qualifying capital under the Standardized Approach	(B)+(C)	$	181.8		184.7	183.7	184.2	185.5

Long-term debt and other instruments qualifying as Tier 2		17.0			16.7	16.7	17.3	17.6
Qualifying allowance for credit losses (3)		4.7			4.6	4.4	4.3	4.3
Other		(0.3)			(0.3)	(0.4)	(0.4)	(0.4)
Total Tier 2 capital under the Advanced Approach	(D)	21.4			21.0	20.7	21.2	21.5
Total qualifying capital under the Advanced Approach	(B)+(D)	$	171.8		174.6	173.5	173.9	175.4

Total risk-weighted assets (RWAs) under the Standardized Approach	(E)	$	1,315.6		1,294.6	1,242.4	1,225.9	1,222.0
Total RWAs under the Advanced Approach	(F)	$	1,124.5		1,112.5	1,072.2	1,070.4	1,063.6

Ratios under the Standardized Approach:
Common Equity Tier 1	(A)/(E)	10.3		%	10.6	11.0	11.1	11.1
Tier 1 capital	(B)/(E)	11.4			11.9	12.3	12.5	12.6
Total capital	(B)+(C)/(E)	13.8			14.3	14.8	15.0	15.2

Ratios under the Advanced Approach:
Common Equity Tier 1	(A)/(F)	12.0		%	12.4	12.7	12.7	12.7
Tier 1 capital	(B)/(F)	13.4			13.8	14.3	14.3	14.5
Total capital	(B)+(D)/(F)	15.3			15.7	16.2	16.2	16.5

(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 capital and total capital ratios under both approaches.

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

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

-25-

Wells Fargo & Company and Subsidiaries

NET INTEREST INCOME EXCLUDING MARKETS

We also evaluate the Company’s net interest income excluding the net interest income of the Corporate and Investment Banking Markets (Markets) line of business. Markets net interest income includes interest income earned on the assets and interest expense paid on the liabilities of the line of business, as well as funding charges and credits using our funds transfer pricing methodology. Net interest income excluding Markets is a non-GAAP financial measure that management believes is useful because it enables management, investors, and others to assess the net interest income from the Company's lending, investing, and deposit-raising activities without the volatility that may be associated with Markets activities.

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


	Quarter ended						Mar 31, 2026 % Change from
($ in millions)	Mar 31, 2026		Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2025		Mar 31, 2025
Net interest income	$	12,096	12,331	11,950	11,708	11,495	(2)	%	5
Markets net interest income	481		358	144	104	131	34		267
Net interest income excluding Markets	$	11,615	11,973	11,806	11,604	11,364	(3)	%	2

-26-

21Q26 Financial Results Improved financial results driven by momentum across businesses Company Highlights Consumer Banking and Lending Corporate and Investment Banking Wealth and Investment Management Commercial Banking • Earnings per diluted share of $1.60, up 15% • Revenue up 6%, driven by a 5% increase in net interest income and an 8% increase in noninterest income • Loans and deposits up 11% and 7%, respectively • Headcount down 7%; positive operating leverage and continued focus on expense discipline • Returned $5.4 billion to shareholders, including $4.0 billion of common share repurchases, while maintaining significant excess capital • Revenue up 4% • Banking revenue up 11% • Investment Banking market share stable at 4.3%; Equity Capital Markets market share up from FY251 • Markets revenue up 19% • Revenue up 14% • Company-wide client assets up 11% • Third consecutive quarter of advisor hiring with $100mm+ production across all channels • Onboarded independent advisor channel (FiNet) teams managing ~$9 billion in client assets • Revenue up 7% • Consumer checking account openings up more than 15% • New credit card accounts up nearly 60% • Auto originations more than 2x prior year • Revenue up 7% • Early signs of success from coverage banker hires, with higher new client acquisition and balance growth • Loans and deposits up 7% and 8%, respectively (absent the 3Q25 transfer to Consumer Banking and Lending)2 Comparisons in the bullet points are for 1Q26 versus 1Q25, unless otherwise noted. Operating leverage means the percentage change in revenue minus the percentage change in noninterest expense. Endnotes are presented starting on page 22.

31Q26 Financial Results 1Q26 results Financial Results ROE: 12.2% ROTCE: 14.5%1 Efficiency ratio: 67%2 Credit Quality Capital and Liquidity CET1 ratio: 10.3%5 LCR: 120%6 TLAC ratio: 23.0%7 • Provision for credit losses4 of $1.1 billion – Total net loan charge-offs of $1.1 billion, up $91 million, with net loan charge-offs of 0.45% of average loans (annualized) – Allowance for credit losses for loans of $14.4 billion, down 1% • Common Equity Tier 1 (CET1) capital5 of $135.4 billion • CET1 ratio5 of 10.3% under the Standardized Approach • Liquidity coverage ratio (LCR)6 of 120% • Net Income of $5.3 billion, or $1.60 per diluted share included $135 million of discrete tax benefits, or $0.04 per share, related to the resolution of prior period matters • Revenue of $21.4 billion, up 6% – Net interest income of $12.1 billion, up 5% – Noninterest income of $9.4 billion, up 8% • Noninterest expense of $14.3 billion, up 3% • Pre-tax pre-provision profit3 of $7.1 billion, up 14% • Effective income tax rate of 11.6% • Average loans of $996.0 billion, up 10% • Average deposits of $1.4 trillion, up 6% Comparisons in the bullet points are for 1Q26 versus 1Q25, unless otherwise noted. Endnotes are presented starting on page 22.

41Q26 Financial Results 1Q26 earnings Quarter ended $ Change from $ in millions, except per share data 1Q26 4Q25 1Q25 4Q25 1Q25 Net interest income $12,096 12,331 11,495 ($235) 601 Noninterest income 9,350 8,961 8,654 389 696 Total revenue 21,446 21,292 20,149 154 1,297 Net charge-offs 1,106 1,030 1,009 76 97 Change in the allowance for credit losses 29 10 (77) 19 106 Provision for credit losses1 1,135 1,040 932 95 203 Noninterest expense 14,330 13,726 13,891 604 439 Pre-tax income 5,981 6,526 5,326 (545) 655 Income tax expense 691 1,103 522 (412) 169 Effective income tax rate (%) 11.6 % 16.9 9.6 (535) bps 192 Net income $5,253 5,361 4,894 ($108) 359 Diluted earnings per common share $1.60 1.62 1.39 ($0.02) 0.21 Diluted average common shares (# mm) 3,117.7 3,159.0 3,321.6 (41) (204) Return on equity (ROE) 12.2 % 12.3 11.5 (1) bps 76 Return on average tangible common equity (ROTCE)2 14.5 14.5 13.6 (3) 90 Efficiency ratio 67 64 69 235 (212) Endnotes are presented starting on page 22.

51Q26 Financial Results Net Interest Income ($ in millions) 11,495 11,708 11,950 12,331 12,096 Net Interest Margin (NIM) on a taxable-equivalent basis 1Q25 2Q25 3Q25 4Q25 1Q26 2.47% Net interest income • Net interest income (NII) of $12.1 billion, up $601 million, or 5%, from 1Q25 – NII excluding Markets2 of $11.6 billion, up $251 million, or 2%, driven by higher deposit balances and lower deposit costs, higher loan and investment securities balances, and fixed rate asset repricing, partially offset by the impact of lower interest rates on floating rate assets – Markets NII of $481 million, up $350 million • NII down $235 million, or 2%, from 4Q25 – NII excluding Markets2 down $358 million, or 3%, driven by two fewer days in the quarter and the impact of lower interest rates on floating rate assets, partially offset by higher loan and deposit balances and fixed asset repricing – Markets NII up $123 million – Net interest margin (NIM) of 2.47% down 13 bps reflecting growth in lower-yielding assets in Markets, as well as growth in interest-bearing deposits, other short-term borrowings and the impact of lower interest rates 2.67% 2.68% 2.61% 2.60% 1 Endnotes are presented starting on page 22.

61Q26 Financial Results • Period-end loans up $103.0 billion, or 11%, YoY driven by growth in commercial and industrial loans, auto loans, securities-based loans in WIM, and credit card loans; up $30.6 billion, or 3%, from 4Q25 – Commercial and industrial loans up $91.4 billion, or 23%, YoY and up $29.8 billion, or 7%, from 4Q25 Loans • Average loans up $87.8 billion, or 10%, year-over-year (YoY) as higher commercial and industrial loans, auto loans, securities-based loans in Wealth and Investment Management (WIM), and credit card loans were partially offset by declines in residential mortgage loans and commercial real estate loans; up $40.2 billion, or 4%, from 4Q25 driven by higher commercial loans, auto loans, and securities-based loans in WIM • Total average loan yield of 5.62%, down 34 bps YoY and 16 bps from 4Q25 reflecting the impact of lower interest rates Average Loans Outstanding ($ in billions) 908.2 916.7 928.7 955.8 996.0 533.2 543.3 552.4 573.3 610.6 375.0 373.4 376.3 382.5 385.4 Total Average Loan Yield Consumer Loans Commercial Loans 1Q25 2Q25 3Q25 4Q25 1Q26 5.96% 5.95% 5.97% 5.78% 5.62% Period-End Loans Outstanding ($ in billions) 913.8 924.4 943.1 986.2 1,016.8 540.7 549.8 563.5 599.9 629.6 373.1 374.6 379.6 386.3 387.2 Consumer Loans Commercial Loans 1Q25 2Q25 3Q25 4Q25 1Q26

71Q26 Financial Results $210.2 Financials except banks loans Financials Except Banks Loans Outstanding ($ in billions) Portfolio Characteristics Data as of 3/31/26, unless otherwise noted. Endnotes are presented starting on page 22. Consumer Finance4 $33.9, 16% Real Estate Finance3 $38.0, 18% Commercial Finance2 $62.1, 30% Asset Managers and Funds1 $76.2, 36% • Diversified collateral across commercial and consumer products, industries and property types with structural protections such as triggers and/or covenants related to collateral performance – Lending structures and overall risk management are executed by specialist groups ◦ Typically underwrite both the counterparty and the underlying collateral ◦ Advance rates provide significant margins of protection ◦ Typically includes structural protections if collateral performance deteriorates Real Estate Finance • CIB Commercial Real Estate = ~$25 billion – Predominantly whole loan repo facilities for CRE mortgage loan originators – Focused on clients with origination and portfolio management experience with exposure diversified by property type, geography and underlying sponsors • CIB Residential Mortgage = ~$13 billion – Residential mortgage warehouse lending to originators and servicers Consumer Finance Consumer asset-backed securities (CIB) • ~74% secured by auto lending with a weighted-average effective advance rate of ~77%5 • Remainder secured by consumer installment, credit card, small business lending, and student lending Page 9 Page 8

81Q26 Financial Results Financials except banks loans – Asset Managers and Funds Asset Managers and Funds: Largely subscription or capital call facilities for alternative asset managers Fund Finance • Predominantly subscription facilities, also known as capital call facilities, which are secured lending backed by diversified limited partner commitments and targeted to managers with established track records where we have long-standing relationships • Portfolio characteristics of subscription facilities include: – ~90% of commitments are to asset mangers with >$20 billion in assets under management – Borrowers span ~445 funds with no individual fund representing more than 1.5% of total commitments ◦ Subscription line collateral spans ~38 thousand investors, predominantly institutional investors – Advance rates provide significant margins of protection and are determined by underwriting each limited partner, which drives the deal's overall advance rate ◦ Weighted-average effective advance rate of ~64% – Collateral for these facilities includes a security interest in the uncalled capital of the investors, including the right to direct the managers to make capital calls and receive capital contributions • Other is primarily secured loans that are diversified by both counterparty and collateral (primarily public securities, loans and private securities) Asset Managers and Funds Loans Outstanding ($ in billions) 85% 15% Other Fund Finance $76.2 Data as of 3/31/26.

91Q26 Financial Results Financials except banks loans – Commercial Finance Commercial Finance Loans Outstanding ($ in billions) Commercial Finance: Loans have structural protections, which may include collateral approval and re-margining rights, and credit oversight includes ongoing collateral monitoring. This category is comprised of five components: Corporate Debt Finance (CIB) • Secured lending against portfolios of corporate loans with underwriting of both the counterparty and the underlying collateral • See next page for additional details Supply Chain, Market Coverage and Specialized Industries (Commercial Banking) • Largely trade accounts receivable securitizations secured by accounts receivable and margined against a borrowing base – Diversified collateral pool with established, high-quality counterparties – Weighted-average effective advance rate of ~60%1 Commercial Asset-Backed Securities (ABS) (CIB) • Primarily loans to clients engaged in leasing aircraft, containers, rail cars, and equipment; weighted-average effective advance rate of ~63%2 Asset-based Lending (Commercial Banking) • Primarily secured lending facilities to asset-based lenders – Weighted-average effective advance rate of ~72%2 – Risk diversified by obligor, industry, geography, and collateral type Other • Includes broadly syndicated loan warehouses providing secured lending against portfolios of corporate loans with underwriting of both the counterparty (asset manager) and the underlying collateral 59% 15% 9% 9% 8% Asset-based Lending Other Commercial ABS Supply Chain, Market Coverage and Specialized Industries Corporate Debt Finance $62.1 Data as of 3/31/26, unless otherwise noted. Endnotes are presented starting on page 22.

101Q26 Financial Results Financials ex. banks loans – Commercial Finance Corporate Debt Finance Corporate Debt Finance Industry Exposures Based on Collateral 1 Corporate Debt Finance = $36.2 billion of loans • Structural protections: – Operating as agent on over 98% of the transactions for re-margining flexibility based on credit performance (e.g., leverage increases, interest coverage decreases, material modifications or defaults) – Weighted-average effective advance rate of <60%1, i.e. on average the facility portfolios (not the individual loans) would absorb a ~40% loss before a loss would be recognized by us – Structured to an A/AA equivalent credit rating • Collateral characteristics include: – >98% senior first lien loans1 – Median EBITDA of ~$60 million and ~45% of the underlying loans had EBITDA of greater than $100 million1 – Diverse across industry and obligor (over 3,100 unique obligors); average obligor concentration in an individual facility was <2%1 – ~23% of exposure is to business development companies (BDCs) as the equity counterparty (public BDCs = ~6% and private BDCs = ~17%) 19% 17% 15% 8% 7% 7% 5% 4% 18% Business Services Software Healthcare Capital Equipment/ Industrial Production Financials Consumer Products & Services IT - Non- Software Food & Beverage (ex-restaurants) Other2 Data as of 3/31/26, unless otherwise noted. Endnotes are presented starting on page 22.

111Q26 Financial Results Deposits 1,339.3 1,331.7 1,339.9 1,377.7 1,415.0 799.9 805.5 808.9 807.6 816.6 182.9 178.0 172.0 181.0 185.9 203.9 202.4 204.1 214.5 214.3 102.1 99.5 99.8 105.5 112.1 Corporate Wealth and Investment Management (WIM) Corporate and Investment Banking (CIB) Commercial Banking (CB) Consumer Banking and Lending (CBL) 1Q25 2Q25 3Q25 4Q25 1Q26 Average Deposits ($ in billions) 86.169.155.146.3 • Average deposits up $75.7 billion, or 6%, YoY on growth in customer deposits across all of the operating segments, as well as higher Corporate deposits; up $37.3 billion, or 3%, from 4Q25 and included growth in CBL, WIM and CB • Average deposit cost of 1.43%, down 15 bps YoY; down 1 bp from 4Q25 • Period-end deposits up $93.2 billion, or 7%, YoY driven by growth in customer deposits across all of the operating segments, as well as higher Corporate deposits; up $28.7 billion, or 2%, from 4Q25 as increases in Corporate and CBL deposits were partially offset by lower CIB and WIM deposits 1,361.7 1,340.7 1,367.4 1,426.2 1,454.9 821.3 806.6 811.0 821.1 840.5 181.5 179.9 176.9 190.0 189.8 209.2 208.0 211.1 224.1 214.5 102.1 97.3 104.0 117.5 113.7 Corporate Wealth and Investment Management (WIM) Corporate and Investment Banking (CIB) Commercial Banking (CB) Consumer Banking and Lending (CBL) 1Q25 2Q25 3Q25 4Q25 1Q26 Period-End Deposits ($ in billions) 96.473.564.448.947.650.5

121Q26 Financial Results 8,654 9,114 9,486 8,961 9,350 644 1,138 1,030 973 862 1,044 1,173 1,223 1,149 1,138 775 696 840 716 796 1,384 1,376 1,408 979 1,351 1,633 1,622 1,674 1,684 1,712 3,174 3,109 3,311 3,460 3,491 Investment advisory fees and brokerage commissions Deposit and lending-related fees Net gains from trading activities Investment banking fees Card fees All other 1Q25 2Q25 3Q25 4Q25 1Q26 Noninterest Income ($ in millions) • Noninterest income up $696 million, or 8%, from 1Q25 – Investment advisory fees and brokerage commissions1 up $317 million, or 10%, driven by higher asset-based fees reflecting higher market valuations, as well as higher retail brokerage commissions on higher transactional activity – Card fees2 up $94 million, or 9%, on higher merchant processing card fees and higher debit card interchange income – All other3 up $218 million on higher net gains from equity and debt securities, partially offset by $151 million lower lease income from the 1/1/26 sale of our rail car leasing business and lower mortgage banking fees from a 1Q25 which included a $263 million gain on the sale of our commercial non-agency third party servicing business • Noninterest income up $389 million, or 4%, from 4Q25 – Net gains from trading activities up $372 million, or 38%, reflecting higher gains across nearly all asset classes reflecting higher customer activity – Investment banking fees up $80 million, or 11%, reflecting higher advisory and equity underwriting fees – All other3 down $111 million and included lower lease income from the sale of our rail car leasing business Noninterest income 3 1 Endnotes are presented starting on page 22. 2

131Q26 Financial Results 13,891 13,379 13,846 13,726 14,330 4,417 4,670 4,825 4,649 4,737 9,474 8,709 8,725 8,465 9,593 Personnel Expense Non-personnel Expense 1Q25 2Q25 3Q25 4Q25 1Q26 Noninterest expense • Noninterest expense up $439 million, or 3%, from 1Q25 – Personnel expense up $119 million as higher revenue-related compensation expense primarily in WIM was partially offset by the impact of efficiency initiatives – Non-personnel expense up $320 million, or 7%, as higher advertising expense and technology and equipment expense were partially offset by lower lease and other expense related to the 1Q26 sale of our rail car leasing business, as well as the impact of efficiency initiatives • Noninterest expense up $604 million, or 4%, from 4Q25 – Personnel expense up $516 million on seasonal personnel expense – Non-personnel expense up $88 million, or 2%, including a higher FDIC assessment expense from a 4Q25 which included a ~$200 million FDIC special assessment credit, partially offset by lower professional and outside services expense and lower lease expense Noninterest Expense ($ in millions) Headcount (Period-end, '000s) 1Q25 2Q25 3Q25 4Q25 1Q26 215 213 211 205 201 Endnotes are presented starting on page 22. 1 6121 1 2961

141Q26 Financial Results • Commercial net loan charge-offs up $35 million to 24 bps of average loans (annualized) on higher commercial and industrial net loan charge-offs, partially offset by lower commercial real estate (CRE) net loan charge-offs • Consumer net loan charge-offs up $19 million to 78 bps of average loans (annualized) on seasonally higher credit card net loan charge-offs • Nonperforming assets of $8.8 billion, or 0.86% of total loans, up $265 million, driven by an increase in commercial and industrial nonaccrual loans, partially offset by lower CRE nonaccrual loans 932 1,005 681 1,040 1,135 1,009 997 942 1,046 1,100 Provision for Credit Losses Net Loan Charge-offs Net Loan Charge-off Ratio 1Q25 2Q25 3Q25 4Q25 1Q26 Credit quality Provision for Credit Losses1 and Net Loan Charge-offs ($ in millions) Comparisons in the bullet points are for 1Q26 versus 4Q25. Endnotes are presented starting on page 22. 0.45% 0.44% 0.43%0.40% 1 0.45% 14,552 14,568 14,311 14,337 14,374 7,930 7,835 7,552 7,457 7,529 6,622 6,733 6,759 6,880 6,845 Commercial Consumer Allowance coverage for total loans 1Q25 2Q25 3Q25 4Q25 1Q26 Allowance for Credit Losses for Loans ($ in millions) • Allowance for credit losses (ACL) for loans up $37 million on higher commercial and industrial and auto loan balances, largely offset by a lower allowance for CRE office and credit card loans – Allowance coverage for total loans down 18 bps from 1Q25 and down 4 bps from 4Q25 primarily driven by a reduction in the allowance coverage for CRE office loans 1.58%1.59% 1.52% 1.45% 1.41%

151Q26 Financial Results Capital and liquidity Capital Position • Common Equity Tier 1 (CET1) ratio1 of 10.3% at March 31, 2026 • CET1 ratio down 80 bps from 1Q25 and down 32 bps from 4Q25 – Included a (17) bps decline due to growth in risk-weighted assets and a (7) bps decline due to a decrease in accumulated other comprehensive income driven by higher interest rates and wider agency mortgage- backed securities spreads compared with 4Q25 Capital Return • $4.0 billion in gross common stock repurchases, or 46.3 million shares, in 1Q26; period-end common shares outstanding down 197.4 million, or 6%, from 1Q25 • 1Q26 common stock dividend of $0.45 per share with $1.4 billion in common stock dividends paid Total Loss Absorbing Capacity (TLAC) • As of March 31, 2026, our TLAC as a percentage of total risk-weighted assets3 was 23.0% compared with the required minimum of 21.5% Liquidity Position • Strong liquidity position with a 1Q26 LCR4 of 120% which remained above the regulatory minimum of 100% 11.1% 11.1% 11.0% 10.6% 10.3% 1Q25 2Q25 3Q25 4Q25 1Q26 Estimated 8.5% Regulatory Minimum and Buffers2 Common Equity Tier 1 Ratio under the Standardized Approach1 Endnotes are presented starting on page 22.

161Q26 Financial Results • Total revenue up 7% YoY and down 1% from 4Q25 – CSBB up 9% YoY driven by lower deposit pricing and higher deposit and loan balances, including the impact of the 3Q25 transfer of certain business customers4; down 2% from 4Q25 on lower NII – Credit Card up 5% YoY and included higher NII on higher loan balances – Home Lending down 9% YoY and down 2% from 4Q25 on lower NII on lower loan balances, and lower mortgage banking fees – Auto up 24% YoY and 5% from 4Q25 on higher loan balances • Noninterest expense up 4% YoY driven by higher advertising and promotion expense, as well as the impact of the 3Q25 transfer of certain business customers4 ; up 6% from 4Q25 on seasonal personnel expense and higher advertising and promotion expense Consumer Banking and Lending (CBL) Summary Financials1 $ in millions 1Q26 vs. 4Q25 vs. 1Q25 Revenue by line of business: Consumer, Small and Business Banking (CSBB) $7,019 ($111) 568 Credit Card 1,595 (5) 71 Home Lending 787 (20) (79) Auto 295 13 58 Personal Lending 302 11 (3) Total revenue 9,998 (112) 615 Provision for credit losses 818 (93) 79 Noninterest expense 6,589 351 247 Pre-tax income 2,591 (370) 289 Net income $1,941 ($278) 209 Selected Metrics and Average Balances $ in billions 1Q26 4Q25 1Q25 Return on allocated capital2 23.1 % 18.8 14.9 Efficiency ratio3 66 62 68 Average loans4 $335.3 333.0 321.5 Average deposits4 816.6 807.6 799.9 Retail bank branches (#, period-end) 4,093 4,090 4,155 Mobile active customers5 (# in mm, period-end) 33.5 32.8 31.8 Other Selected Metrics $ in billions 1Q26 4Q25 1Q25 Debit card purchase volume6 $134.3 137.3 126.0 Client assets in advisory and brokerage accounts7 261 265 237 Average Home Lending loans 198.5 200.2 205.5 Mortgage loan originations 6.3 7.5 4.4 Average Credit Card loans 53.0 52.9 50.1 Credit Card purchase volume6, 8 40.0 42.2 36.7 Credit Card new accounts (# in thousands)6, 8 631 710 396 Average Auto loans $52.6 48.7 42.5 Auto loan originations 9.7 10.2 4.6 Endnotes are presented starting on page 22.

171Q26 Financial Results Commercial Banking (CB) In 3Q25, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. • Total revenue up 7% YoY and up 1% from 4Q25 – Net interest income up 1% YoY on higher loan and deposit balances, partially offset by the impact of lower interest rates and the 3Q25 transfer noted above – Noninterest income up 19% YoY on higher revenue from tax credit investments and equity investments • Noninterest expense down 4% YoY due to the impact of the 3Q25 transfer noted above, as well as the impact of efficiency initiatives; up 11% from 4Q25 driven by seasonal personnel expense Summary Financials $ in millions 1Q26 vs. 4Q25 vs. 1Q25 Net interest income $1,988 ($5) 11 Noninterest income 1,132 46 184 Total revenue 3,120 41 195 Provision for credit losses 150 45 (37) Noninterest expense 1,608 165 (62) Pre-tax income 1,362 (169) 294 Net income $1,017 ($125) 223 Selected Metrics 1Q26 4Q25 1Q25 Return on allocated capital 15.0 % 16.5 11.4 Efficiency ratio 52 47 57 Average balances ($ in billions) Loans $229.1 224.0 223.8 Deposits 185.9 181.0 182.9

181Q26 Financial Results Corporate and Investment Banking (CIB) • Total revenue up 4% YoY and up 14% from 4Q25 – Banking revenue up 11% YoY on growth in loans and deposits and higher investment banking revenue; up 11% from 4Q25 on higher investment banking revenue and growth in loan balances – Commercial Real Estate revenue down 21% YoY on lower revenue resulting from the sale of our non-agency third party servicing business in 1Q25, partially offset by higher income from our affordable housing business; down 7% from 4Q25 driven by the impact of lower interest rates, lower deposit balances and lower capital market fees – Markets revenue up 19% YoY; up 36% from 4Q25 driven by higher revenue across most asset classes reflecting higher customer activity • Noninterest expense up 9% YoY driven by higher incentive compensation expense and higher professional and outside services expense on higher volume-related expenses, partially offset by the impact of efficiency initiatives; up 15% from 4Q25 driven by seasonal personnel expense Summary Financials $ in millions 1Q26 vs. 4Q25 vs. 1Q25 Revenue by line of business: Banking: Lending $700 $44 82 Treasury Management and Payments 655 7 37 Investment Banking 602 145 68 Total Banking 1,957 196 187 Commercial Real Estate 1,146 (90) (303) Markets: Fixed Income, Currencies and Commodities (FICC) 1,583 419 201 Equities 543 90 95 Credit Adjustment (CVA/DVA/FVA) and Other 47 62 50 Total Markets 2,173 571 346 Other 2 (15) (16) Total revenue 5,278 662 214 Provision for credit losses 175 97 175 Noninterest expense 2,692 345 216 Pre-tax income 2,411 220 (177) Net income $1,809 $170 (132) Selected Metrics 1Q26 4Q25 1Q25 Return on allocated capital 14.9 % 13.8 17.0 Efficiency ratio 51 51 49 Average Balances ($ in billions) Loans by line of business 1Q26 4Q25 1Q25 Banking $117.7 101.0 86.5 Commercial Real Estate 119.5 116.6 117.4 Markets 105.1 95.3 73.4 Total loans $342.3 312.9 277.3 Deposits 214.3 214.5 203.9 Trading-related assets 397.9 364.4 276.4

191Q26 Financial Results Wealth and Investment Management (WIM) Summary Financials1 $ in millions 1Q26 vs. 4Q25 vs. 1Q25 Net interest income $905 $37 175 Noninterest income 2,970 17 296 Total revenue 3,875 54 471 Provision for credit losses (10) (1) (21) Noninterest expense 3,262 188 316 Pre-tax income 623 (133) 176 Net income $468 ($97) 119 Selected Metrics $ in billions 1Q26 4Q25 1Q25 Return on allocated capital 28.4 % 33.6 20.9 Efficiency ratio 84 80 87 Average loans $88.4 84.9 80.9 Average deposits 112.1 105.5 102.1 WIM client assets $2,222 2,244 1,996 • Total revenue up 14% YoY and up 1% from 4Q25 – Net interest income up 24% YoY and up 4% from 4Q25 driven by higher deposit and loan balances – Noninterest income up 11% YoY on higher asset-based fees driven by an increase in market valuations • Noninterest expense up 11% YoY on higher revenue-related compensation expense, partially offset by the impact of efficiency initiatives; up 6% from 4Q25 driven by seasonal personnel expense Endnotes are presented starting on page 22.

201Q26 Financial Results Corporate • Revenue decreased YoY on lower net interest income due to the impact of lower interest rates on crediting rates to our operating segments, and lower lease income related to the sale of our rail car leasing business, partially offset by improved results from our venture capital investments. 1Q25 included $149 million of net losses from the repositioning of the investment portfolio • Noninterest expense down YoY and included lower lease and other expense associated with the sale of our rail car leasing business Summary Financials $ in millions 1Q26 vs. 4Q25 vs. 1Q25 Net interest income ($460) ($261) (496) Noninterest income 228 (160) 441 Total revenue (232) (421) (55) Provision for credit losses 2 47 7 Noninterest expense 179 (445) (278) Pre-tax loss (413) (23) 216 Income tax benefit (466) (220) 149 Less: Net income from noncontrolling interests 35 (25) 127 Net income $18 $222 (60)

211Q26 Financial Results Outlook Net Interest Income Noninterest Expense Expect 2026 net interest income (NII) to be +/- $50 billion, unchanged from prior guidance • Expect NII excluding Markets1 to be +/- $48 billion • Expect Markets NII to be +/- $2 billion • 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 Expect 2026 noninterest expense to be ~$55.7 billion, unchanged from prior guidance Endnotes are presented starting on page 22.

221Q26 Financial Results Endnotes Page 2 – Improved financial results driven by momentum across businesses 1. Source: Dealogic. 2. In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. The year-over-year percentage changes for loans and deposits in the Commercial Banking operating segment are calculated assuming the third quarter 2025 transfer occurred during first quarter 2025 to provide a consistent basis of comparison for loan and deposit balances between periods. This assumption had the effect of increasing the year- over-year growth rates for both loans and deposits by three percentage points. For additional information on loans and deposits in the Commercial Banking operating segment, see page 12 of our 1Q26 Quarterly Supplement. Page 3 – 1Q26 results 1. Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” table on page 29. 2. The efficiency ratio is noninterest expense divided by total revenue (net interest income and noninterest income). 3. Pre-tax pre-provision profit (PTPP) is total revenue less noninterest expense. Management believes that PTPP is a useful financial measure because it enables investors and others to assess the Company’s ability to generate capital to cover credit losses through a credit cycle. 4. Includes provision for credit losses for loans, debt securities, and other financial assets. 5. The Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach is our binding CET1 framework. See page 30 for additional information regarding CET1 capital and ratios. CET1 for March 31, 2026, is a preliminary estimate. 6. Liquidity coverage ratio (LCR) represents average high-quality liquid assets divided by average projected net cash outflows, as each is defined under the LCR rule. LCR for March 31, 2026, is a preliminary estimate. 7. Represents total loss absorbing capacity (TLAC) divided by risk-weighted assets (RWAs), which is our binding TLAC ratio, determined by using the greater of RWAs under the Standardized and Advanced Approaches. TLAC for March 31, 2026, is a preliminary estimate. Page 4 – 1Q26 earnings 1. Includes provision for credit losses for loans, debt securities, and other financial assets. 2. Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” table on page 29. Page 5 – Net interest income 1. Includes taxable-equivalent adjustments predominantly related to tax-exempt income on certain loans and securities. 2. Net interest income excluding Markets is a non-GAAP financial measure. For additional information, including a corresponding reconciliation to a GAAP financial measure, see the “Net Interest Income Excluding Markets” table on page 28. Page 7 – Financials except banks loans 1. Includes loans for subscription or capital calls and loans to securities firms. 2. Includes asset-based lending and leasing, including loans to special purpose entities, loans to commercial leasing entities, and structured lending facilities to commercial loan managers. 3. Includes originators or servicers of financial assets collateralized by commercial or residential real estate loans. 4. Includes originators or servicers of financial assets collateralized by consumer loans such as auto loans and leases, and credit cards. 5. As of 12/31/2025.

231Q26 Financial Results Page 9 – Financials except banks loans – Commercial Finance 1. As of 2/28/2026. 2. As of 12/31/2025. Page 10 – Financials ex. banks loans – Commercial Finance Corporate Debt Finance 1. As of 1/31/2026. 2. Other industry exposure represents 12 industries with exposures less than 3% each. Page 12 – Noninterest income 1. Investment advisory fees and brokerage commissions includes investment advisory and other asset-based fees and commissions and brokerage services fees. 2. In April 2025, we completed our acquisition of the remaining interest in our merchant services joint venture. Following the acquisition, the revenue from this business has been included in card fees. Prior to the acquisition, our share of the net earnings of the joint venture was included in other noninterest income. 3. All other includes mortgage banking, net gains (losses) from debt securities, net gains (losses) from equity securities, and other. Page 13 – Noninterest expense 1. 4Q25 and 3Q25 total personnel expense of $9.1 billion and $9.0 billion, respectively, included severance expense of $612 million and $296 million, respectively. Page 14 – Credit quality 1. Includes provision for credit losses for loans, debt securities, and other financial assets. Page 15 – Capital and liquidity 1. The Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach is our binding CET1 framework. See page 30 for additional information regarding CET1 capital and ratios. 1Q26 CET1 is a preliminary estimate. 2. Includes a 4.50% minimum requirement, a stress capital buffer (SCB) of 2.50%, and a G-SIB capital surcharge of 1.50%. 3. Represents total loss absorbing capacity (TLAC) divided by risk-weighted assets (RWAs), which is our binding TLAC ratio, determined by using the greater of RWAs under the Standardized and Advanced Approaches. TLAC is a preliminary estimate. 4. Liquidity coverage ratio (LCR) represents average high-quality liquid assets divided by average projected net cash outflows, as each is defined under the LCR rule. 1Q26 LCR is a preliminary estimate. Endnotes (continued)

241Q26 Financial Results Page 16 – Consumer Banking and Lending (CBL) 1. In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been revised to conform with the current period presentation. 2. 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. 3. Efficiency ratio is segment noninterest expense divided by segment total revenue. 4. In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. 5. 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. 6. Reflects combined activity for consumer and small business customers. 7. In first quarter 2026, we moved the client assets, including advisory and other brokerage assets and deposits, associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been included to conform with the current period presentation. 8. In first quarter 2026, credit card metrics were revised to exclude co-branded cards. Prior period balances have been revised to conform with the current period presentation. Page 19 – Wealth and Investment Management (WIM) 1. In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. Prior period balances have been revised to conform with the current period presentation. Page 21 – Outlook 1. Net interest income excluding Markets is a non-GAAP financial measure. For additional information, including a corresponding reconciliation to a GAAP financial measure, see the “Net Interest Income Excluding Markets” table on page 28. Endnotes (continued)

251Q26 Financial Results Appendix

261Q26 Financial Results Reconciliation of call report to financials except banks loans • Bank regulators require reporting of non-depository financial institutions (NDFI) loans in the quarterly call report based on specific instructions and definitions with classifications generally driven by the customer's primary business purpose • We report financials except banks loans in our SEC financial disclosures with classifications generally driven by the primary source of repayment • These classification differences contribute to differences in reported amounts. The call report for first quarter 2026 has not yet been filed, so the reconciliation below is as of 12/31/2025 Call Report NDFI Loans vs. Financials Except Banks Loans as of 12/31/2025 ($ in billions) $212.1 $193.0 NDFI Loans in the Call Report Financials Except Banks Loans Loans in real estate and construction industry category Loans in auto related industry category Loans in other industry categories $69.7 Asset Managers and Funds $61.0 Commercial Finance $34.5 Real Estate Finance $27.8 Consumer Finance $24.0 Consumer credit intermediaries $38.1 Mortgage credit intermediaries $51.2 Private equity funds $71.0 Business credit intermediaries $27.8 Other NDFI loans

271Q26 Financial Results Reconciliation of call report business credit intermediary loans to commercial finance loans NDFI Business Credit Intermediary Loans vs. Financials Except Banks - Commercial Finance Loans as of 12/31/2025 ($ in billions) $71.0 $61.0 Reported in Asset Managers and Funds loans (see page 8) Other loansReported in Consumer Finance loans (see page 7) $36.4 Corporate Debt Finance (see page 10) $24.6 Other Commercial Finance Loans (see page 9) Financials Except Banks – Commercial Finance Loans Business Credit Intermediary Loans in the Call Report • In the call report, business credit intermediary loans is our biggest category of NDFI loans. A reconciliation of that portfolio to commercial finance loans within our financials except banks loans is provided below $24.0 Consumer credit intermediaries $38.1 Mortgage credit intermediaries $51.2 Private equity funds $71.0 Business credit intermediaries $27.8 Other NDFI loans $212.1 NDFI Loans in the Call Report

281Q26 Financial Results Net Interest Income Excluding Markets Quarter ended Mar 31, 2026 % Change from ($ in millions) Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2025 Mar 31, 2025 Net interest income $ 12,096 12,331 11,950 11,708 11,495 (2) % 5 Markets net interest income 481 358 144 104 131 34 267 Net interest income excluding Markets $ 11,615 11,973 11,806 11,604 11,364 (3) 2 Wells Fargo & Company and Subsidiaries NET INTEREST INCOME EXCLUDING MARKETS We also evaluate the Company’s net interest income excluding the net interest income of the Corporate and Investment Banking Markets (Markets) line of business. Markets net interest income includes interest income earned on the assets and interest expense paid on the liabilities of the line of business, as well as funding charges and credits using our funds transfer pricing methodology. Net interest income excluding Markets is a non-GAAP financial measure that management believes is useful because it enables management, investors, and others to assess the net interest income from the Company's lending, investing, and deposit-raising activities without the volatility that may be associated with Markets activities. The table below provides a reconciliation of this non-GAAP financial measure to a GAAP financial measure.

291Q26 Financial Results Tangible Common Equity Wells Fargo & Company and Subsidiaries TANGIBLE COMMON EQUITY We also evaluate our business based on certain ratios that utilize tangible common equity. Tangible common equity is a non-GAAP financial measure and represents total equity less preferred equity, noncontrolling interests, goodwill, certain identifiable intangible assets (other than MSRs) and goodwill and other intangibles on venture capital investments in consolidated portfolio companies, net of applicable deferred taxes. One of these ratios is return on average tangible common equity (ROTCE), which represents our annualized earnings as a percentage of tangible common equity. The methodology of determining tangible common equity may differ among companies. Management believes that return on average tangible common equity, which utilizes tangible common equity, is a useful financial measure because it enables management, investors, and others to assess the Company’s use of equity. The table below provides a reconciliation of this non-GAAP financial measure to GAAP financial measures. Quarter ended ($ in millions) Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Return on average tangible common equity: Net income applicable to common stock (A) $5,000 5,114 5,341 5,214 4,616 Average total equity 183,693 183,844 183,428 183,268 183,358 Adjustments: Preferred stock (16,333) (16,608) (16,608) (18,278) (18,608) Additional paid-in capital on preferred stock 140 141 141 143 145 Noncontrolling interests (1,915) (1,879) (1,850) (1,818) (1,894) Average common stockholders’ equity (B) 165,585 165,498 165,111 163,315 163,001 Adjustments: Goodwill (24,967) (25,055) (25,070) (25,070) (25,135) Certain identifiable intangible assets (other than MSRs) (788) (847) (889) (863) (69) Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) (705) (698) (674) (674) (734) Applicable deferred taxes related to goodwill and other intangible assets1 1,063 1,063 1,061 989 952 Average tangible common equity (C) $140,188 139,961 139,539 137,697 138,015 Return on average common stockholders’ equity (ROE) (annualized) (A)/(B) 12.2 % 12.3 12.8 12.8 11.5 Return on average tangible common equity (ROTCE) (annualized) (A)/(C) 14.5 14.5 15.2 15.2 13.6 1. Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period-end.

301Q26 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 capital and total capital ratios under both approaches. 2. Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period-end. Common Equity Tier 1 under Basel III Wells Fargo & Company and Subsidiaries RISK-BASED CAPITAL RATIOS UNDER BASEL III1 Estimated ($ in billions) Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Total equity $180.3 183.0 183.0 183.0 182.9 Adjustments: Preferred stock (15.3) (16.6) (16.6) (16.6) (18.6) Additional paid-in capital on preferred stock 0.1 0.1 0.2 0.1 0.1 Noncontrolling interests (1.9) (1.8) (1.9) (1.9) (1.8) Total common stockholders' equity 163.2 164.7 164.7 164.6 162.6 Adjustments: Goodwill (25.0) (25.0) (25.1) (25.1) (25.1) Certain identifiable intangible assets (other than MSRs) (0.8) (0.8) (0.9) (0.9) (0.1) Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) (0.7) (0.7) (0.7) (0.7) (0.7) Applicable deferred taxes related to goodwill and other intangible assets2 1.1 1.1 1.1 1.1 1.0 Other (2.4) (2.0) (2.5) (2.6) (2.1) Common Equity Tier 1 (A) $135.4 137.3 136.6 136.4 135.6 Total risk-weighted assets (RWAs) under the Standardized Approach (B) 1,315.6 1,294.6 1,242.4 1,225.9 1,222.0 Total RWAs under the Advanced Approach (C) 1,124.5 1,112.5 1,072.2 1,070.4 1,063.6 Common Equity Tier 1 to total RWAs under the Standardized Approach (A)/(B) 10.3 % 10.6 11.0 11.1 11.1 Common Equity Tier 1 to total RWAs under the Advanced Approach (A)/(C) 12.0 12.4 12.7 12.7 12.7

311Q26 Financial Results Disclaimer and forward-looking statements Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information. This document contains forward-looking statements. In addition, we may make forward-looking statements in our other documents filed or furnished with the Securities and Exchange Commission, and our management may make forward-looking statements orally to analysts, investors, representatives of the media and others. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “target,” “projects,” “outlook,” “forecast,” “will,” “may,” “could,” “should,” “can” and similar references to future periods. In particular, forward-looking statements include, but are not limited to, statements we make about: (i) the future operating or financial performance of the Company or any of its businesses, including our outlook for future growth; (ii) our expectations regarding noninterest expense and our efficiency ratio; (iii) future credit quality and performance, including our expectations regarding future loan losses, our allowance for credit losses, and the economic scenarios considered to develop the allowance; (iv) our expectations regarding net interest income and net interest margin; (v) loan growth or the reduction or mitigation of risk in our loan portfolios; (vi) future capital or liquidity levels, ratios or targets; (vii) the expected outcome and impact of legal, regulatory and legislative developments, as well as our expectations regarding compliance therewith; (viii) future common stock dividends, common share repurchases and other uses of capital; (ix) our targeted range for return on assets, return on equity, and return on tangible common equity; (x) expectations regarding our effective income tax rate; (xi) the outcome of contingencies, such as legal actions; (xii) sustainability and governance related goals or commitments; and (xiii) the Company’s plans, objectives and strategies. Forward-looking statements are not based on historical facts but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions. Investors are urged to not unduly rely on forward-looking statements as actual results may differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For additional information about factors that could cause actual results to differ materially from our expectations, refer to the “Forward-Looking Statements” discussion in Wells Fargo’s press release announcing our first quarter 2026 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, 2025.

Source: View Original Filing on SEC EDGAR

FAQ

How did Wells Fargo (WFC) perform financially in Q1 2026?

Wells Fargo reported Wells Fargo net income of $5.253 billion on total revenue of $21.446 billion in Q1 2026. Diluted EPS was $1.60, up from $1.39 a year earlier, reflecting higher revenue and controlled credit costs across core businesses.

What were Wells Fargo (WFC) loans and deposits in Q1 2026?

Average loans reached $996.0 billion and average deposits were $1.415 trillion in Q1 2026. Period-end loans totaled $1.0168 trillion and deposits $1.4550 trillion, showing broad growth in commercial and consumer lending plus solid deposit franchise strength.

What was Wells Fargo (WFC) net interest margin and efficiency ratio in Q1 2026?

Net interest margin on a taxable-equivalent basis was 2.47% in Q1 2026, compared with 2.67% a year earlier. The efficiency ratio was 67%, slightly improved from 69% in Q1 2025, indicating ongoing expense management alongside revenue growth.

How strong was Wells Fargo (WFC) capital and liquidity in Q1 2026?

The Common Equity Tier 1 (CET1) ratio under the Standardized Approach was 10.3%, and the Supplementary Leverage Ratio was 5.9%. Wells Fargo’s Liquidity Coverage Ratio stood at 120%, and the Total Loss Absorbing Capacity ratio was 23.0%, supporting regulatory and funding resilience.

What credit quality trends did Wells Fargo (WFC) report for Q1 2026?

Net loan charge-offs were $1.100 billion, with an annualized charge-off rate of 0.45% of average loans. The allowance for credit losses for loans was $14.374 billion, or 1.41% of total loans, while nonperforming assets were $8.768 billion, or 0.86% of total loans.

How much capital did Wells Fargo (WFC) return to shareholders in Q1 2026?

Wells Fargo repurchased 46.3 million common shares for $4.0 billion during Q1 2026 and declared a common dividend of $0.45 per share. These actions complemented growth in book value per common share to $53.25 and tangible book value per share to $44.98.

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Wells Fargo (NYSE: WFC) grows Q1 2026 earnings, revenue and returns $4B

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FAQ

How did Wells Fargo (WFC) perform financially in Q1 2026?

What were Wells Fargo (WFC) loans and deposits in Q1 2026?

What was Wells Fargo (WFC) net interest margin and efficiency ratio in Q1 2026?

How strong was Wells Fargo (WFC) capital and liquidity in Q1 2026?

What credit quality trends did Wells Fargo (WFC) report for Q1 2026?

How much capital did Wells Fargo (WFC) return to shareholders in Q1 2026?

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Wells Fargo (NYSE: WFC) grows Q1 2026 earnings, revenue and returns $4B

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8-K Event Classification

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FAQ

How did Wells Fargo (WFC) perform financially in Q1 2026?

What were Wells Fargo (WFC) loans and deposits in Q1 2026?

What was Wells Fargo (WFC) net interest margin and efficiency ratio in Q1 2026?

How strong was Wells Fargo (WFC) capital and liquidity in Q1 2026?

What credit quality trends did Wells Fargo (WFC) report for Q1 2026?

How much capital did Wells Fargo (WFC) return to shareholders in Q1 2026?

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