THE ROAD TO REBUILDING TRUST PROGRESS REPORT: While there is still much work to be done, here are some actions Wells Fargo has already taken on our path to making things right, fixing the problems, and building a better bank:

LEADERSHIP & INTEGRITY APPOINTED a new CEO and a new executive to lead the Community Bank.

LAUNCHED the Conduct Management Office, and centralized• Internal investigations • Complaints oversight • Sales practices oversight • EthicsLine and ethics oversight

IMPLEMENTED the company-wide commitment to Rebuilding Trust.

ETHICS

NAMED new board chair, effective Jan. 1, 2018, and announced several changes in board committee leadership and membership.

CUSTOMERS

REFUNDED FEES incurred by potentially unauthorized • Deposits • Credit cards • Line of credit accounts

AUTOMATIC NOTIFICATIONS to customers after a personal or small business checking account, savings account, or credit card has been opened.

DEDICATED 24/7 TOLL-FREE NUMBER for customers with concerns about their accounts, or any aspect of their relationship with Wells Fargo. Customer service available 24/7 at (877) 924-8697.

REACHED OUT to 40 million retail and 3 million small business customers asking them to contact us with any concerns about their accounts.

MADE AVAILABLE a $142 million settlement for customer remediation and related expenses.

TEAM MEMBERS CONDUCTED nationwide listening tour to hear how to better care for team members.

EXPANDED Raise Your Hand, a program to ensure team member concerns are heard.

RAISED MINIMUM WAGE base range for U.S. entry level team members to $13.50 - $17.00 per hour.

ESTABLISHED • Centralized team member

allegations and disputes team in Employee Relations

• Proactive retaliation review for terminations

• 60-day follow-up with team members following EthicsLine case closure

INCENTIVES ELIMINATED product sales goals for retail bankers and began roll out of transformational changes to processes, coaching and customer interaction within the Community Bank to place focus on customers’ best interest.

NEW COMPENSATION PLAN created for retail bankers focused on • Customer experience • Stronger oversight and controls • Team versus individual incentives • Rewards team members for providing

excellent customer service

RISK MANAGEMENT & ACCOUNTABILITY

STRENGTHENED risk framework by creating centers of excellence to apply the highest risk standards and controls consistently across the company.

ACCOUNTABILITY actions included terminations of several Community Bank leaders for cause due to sales practices, and top senior leaders of the bank had their bonuses eliminated.

RELEASED the results of an independent investigation into the bank’s sales practices.

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