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Barclays Capital 2013 GlobalFinancial Services Conference

Tim Sloan

Chief Financial Officer

© 2013 Wells Fargo Bank, N.A. All rights reserved.

September 9, 2013



1

Wells Fargo vision

“We want to satisfy

all or cstomers!

financial nee"s an"

help them sccee"

financially#$

Wells Fargo

Vision



2

Other %istribtion Channels

&T's 12,29(

Online ban)in*

cstomers +3

22#- ''

'obile cstomers+3

10#- ''

Serving consumers and businesses in more communities tanany oter !"S" Ban#

Store %istribtion

.etail ban)in* (,1-/

Wells Far*o &"isors 1,3(9

Wholesale -3

'ort*a*e -(1

Sales Forcelatform ban)ers +1 32,20

Financial a"isors +2 1/,2(

4ome 'ort*a*e

consltants

11,1

As of June 30, 2013.

(1) Active, full-time equivalent.(2) Series 7 brokers.(3) e!ional bankin! online an" mobile customers, base" on #0-"a$ active accounts.

-05 '' cstomers

9,0 stores

Wells Fargo Retail Banking stores

Wells Fargo Advisors officesWells Fargo Home Mortgage stores



3

63 Fll7serice retail bro)era*e +base" on F&s +

6 Wealth mana*ement proi"er +base" on &8' +9

Deposits

61 Small bsiness len"er +

61 &to len"er +/

OtherConsumer

Lending

61 Commercial real estate ori*inator +(

61 'i""le mar)et commercial len"er +-Commercial

WealthManagement/

Brokerage

62 in 8#S# +1

62 %ebit car" isser +2

ResidentialMortgage

61 'ort*a*e ori*inator +3

61 'ort*a*e sericin* portfolio +3

(1) %&' "ata, June 2012. (2) ilson e*ort, A*ril 2013. (3) 'nsi"e +ort!a!e %inance, 213. () .S. in "ollars *er A "ata, 2011. (/) Autoount, Jul$ 2012 June2013. () ase" on 2011 .S. commercial real estate ori!inations, +A ommercial eal state4+ultifamil$ %inance %irms, 12431412. (7) S5are of lea" bankin!relations5i*s, 6S 2012 ommercial ankin! +omentum +onitor. ontinental .S. (eclu"es A849'). (:) 'nternal an" *eer re*orts, 213. (#) ase" on A+ ofaccounts ; </ million, arron=s, June 2012.

$eading position in #ey products



7#00

72#00

0#00

2#00

#00

(#00

#00

10#00

Slope of the Y ield Curve Unemployment Rate Re al GDP Growth

0

2

(

10

12

1

1(

1

20

Balanced business model as led to consistent earnings gro%tin various economic environments

Wells Fargo Net Income(< in billions)

>ear to "ate (>6&) t5rou!5 June 30, 2013.(1) 10-$ear 6reasur$ less t5e 3-mont5 6reasur$.(2) Acquire" ?ac5ovia on &ecember 31, 200:. %ull $ear 200: net income @as im*acte" b$ an <:.1 billion (*re-ta) cre"it reserve buil", inclu"in! a <3.# billion

(*re-ta) *rovision to conform bot5 ?ells %ar!o=s an" ?ac5ovia=s cre"it reserve *ractices.

+1

Wachovia

merger (2)

Slope o the !ield Cur"e#$nemplo%ment Rate and Real

&D' &ro(th



/

)*+,-

)*+--

)*+.* )*+./

)*+.0)*+0*

)*+01 )*+02 )*+0-

)*+31 )*+33

)*+4/ )*+41)*+43

1:10 2:10 3:10 :10 1:11 2:11 3:11 :11 1:12 2:12 3:12 :12 1:13 2:13

2&13 'esults

Diluted 5arnings 'er Common Share

.ecor" earnin*s of ;/#/ billion, p 19 year7oer7year +<o< an" - lin)e" =arter +>:

1th consectie =arter of ?S *rowth

.O& @ 1#//, p 1 bps <o< an" p ( bps >:

.O? @ 1#02, p 11( bps <o< an" p 3 bps >:



(

),+.

)-+-

2:12 2:13

(ear)over)year results

're6ta7 're6pro"ision 'roit(< in billions)

Net Income(< in billions, ece*t S)

%ilte" earnin*s per common share

'eriod6end Loans(< in billions)

Return on 8ssets

Return on 59uit%'eriod6end Core Deposits(< in billions)

)*+31

)*+43

/1+3.:/,+*1:

2:12 2:13

/+,/:/+--:

2:12 2:13

)3+4)4+/

2:12 2:13

(-2#1 -1#

103#1 -#(

)00-+1)3*1+*

2:12 2:13

Core loans Aon7strate*icBli=i"atin* loans

)331+/

)4,/+1

2:12 2:13



-

Balanced Spread andFee Income

Di"ersiied Fee &eneration

Deposit Ser"ice Charges 1:

Card Fees 3:

;otal Mortgage Banking 1.:

Insurance -:

Net &ains rom ;rading 2:

All "ata is for 213.(1) Bt5er noninterest income inclu"es net losses on "ebt securities available for sale, net !ains from equit$investments, lease income, life insurance investment income an" all ot5er noninterest income.

Strong revenue diversification

;otal ;rust < In"estment Fees 22:

;otal Other Fees *: Other Noninterest Income => 2:

ro)era*e a"isory,commissions an" other

'ort*a*e Ori*#BSales, net

'ort*a*e Sericin*, net Trst an" inestmentmana*ement

Dnestment ban)in*

Char*es an" fees on loans

:'erchant processin*:Cash networ)

?:C.? bro)era*e commissions

:>etters of cre"itCar" fees

%eposit serice char*esOther noninterest income +1

Aet *ains from tra"in*

Dnsrance

-*:-*:

Net InterestIncome

NoninterestIncome

&ll other fees

/1:

1*:

3:

-:

3:,:

1:,:

11:

-:2:

2:



2+*:

1+.:1+,: 1+,:

1+1:

/+4:

WFC 8S E' AC &C C

Fee income outperformance vs" peers

SourceC SD.

Fee Income/8"erage 8ssets(213)

Fee Income/8"erage 8ssets(10 >ear Av!., 2003-2012)

2+1: 2+1:

2+*:

1+.:

1+1:

/+4:

WFC AC 8S E' &C C



9

/+0*:

/+--:/+,4:

/+*4:

*+34:

*+0,:

$SB WFC 'NC @'M C B8C

Strong 2&13 returns

/.+/:

/,+*:

/1+,://+0:

3+.:

.+-:

$SB WFC @'M 'NC C B8C

Return on 59uit%Return on 8ssets

213 results. SourceC SD.



10

Strong capital

/*+*3: 4+41:

/*+/1:

/*+24:

/*+0/:

2:12 3:12 :12 1:13 2:13

Capital contine" to *row in 2:13

Tier 1 common e=ity ratio n"er asel Dof 10#-1 increase" 32 bps >:

Tier 1 common e=ity ratio n"er asel DDD isestimate" to be #(2 at (B30B13 +1

7 OCD ne*atiely impacte" the ratio by 2 bpsin 2:13

rchase" 2(#- million common shares in 2:13an" entere" into a ;/00 million forwar"reprchase transaction, which settle" in 3:13

Dncrease" =arterly common stoc) "ii"en" to;0#30 per share in 2:13

See A**en"i *a!es 2-2/ for a""itional information re!ar"in! 6ier 1 common equit$ ratios.(1) stimate" base" on mana!ement=s inter*retation of final rules a"o*te" Jul$ 2, 2013, b$ t5e %e"eral eserve oar" establis5in! a ne@ com*re5ensive ca*ital

frame@ork for .S. bankin! or!aniEations t5at @oul" im*lement t5e asel ''' ca*ital frame@ork an" certain *rovisions of t5e &o""-%rank Act.

;ier Common 59uit% Ratio$nder Basel I



11

*e economy and interest rates continueto be in a state of transition

Long rates ha"e risen sharpl%

7 107year treasry +1 p 3 bps from Ene 2th an" 91 bps from one year a*o

Industr% mortgage applications continue to slo(

7 '& refinance application in"e +2 "own (3 since pea)in* the wee) of 'ay 3r"

Lending o"erall continues to Ae modest

7 .ecent 47 shows that len"in* contines at a slow pace

ome prices ha"e continued to impro"e contriAuting to strong credit

perormance trends7 Case7Shiller +3 "ata shows home ales were p 12 year oer year

(1) SourceC .S. &e*artment of 6reasur$, as of #442013.(2) SourceC +ort!a!e ankers Association efi 'n"e, as of :42/42013.(3) SourceC ase-S5iller 20-it$ om*osite, June 2013 vs. June 2012.



12

Current environment+ net interest income and ,-.

)//+/

)/*+3

1:10 2:10 3:10 :10 1:11 2:11 3:11 :11 1:12 2:12 3:12 :12 1:13 2:13

Aet Dnterest 'ar*in +AD'

2:13 net interest income p 2 lin)e" =arter +>: "rien by secrities prchases, lower fn"in*costs, hi*her ariable income, loan *rowth, as well as the benefit from an etra "ay in the =arter

Secrities prchases hae contine" in 3:13, bt epect contine" pressre on the AD'

Focs remains on *rowin* net interest income oer time

Dri"ers o NIM Compression

1:10 AD' #2-

Golatile Dtems 0#02

%eposit Hrowth +0#(

Core AD' .epricin*I Hrowth

+0#19

12 NIM 2+,.:

Aet Dnterest Dncome

(< in billions)

,+23:

,+*/: 2+4/:

2+,.:



13

Current environment+ noninterest income

Aoninterest income relatiely stable >: an" p <o<

%eposit serice char*es p 3 >: on seasonalityan" accont *rowth

Trst an" inestment fees p 9 >: on stron*inestment ban)in* an" hi*her retail bro)era*e

asset7base" fees Car" fees p 10 >: reflectin* cre"it car" an"

"ebit car" accont *rowth an" stron*er OSolmes an" transactions

'ort*a*e ban)in* stable as hi*her net sericin*income was lar*ely offset by lower *ain on salereene

7 'ort*a*e *ain on sale mar*in an"ori*inations are epecte" to "ecline

/*#1-1

/*#--/

//#2*-

/*#0.* /*#.13

2:12 3:12 :12 1:13 2:13

Noninterest Income(< in millions)



1

Current environment+ mortgage gain on sale marginsand originations

Hain on sale mar*ins reflect mar)et "eman" an" in"stry capacity

0

20

0

(0

0

100

120

10

1(0

1:10 2:10 3:10 :10 1:11 2:11 3:11 :11 1:12 2:12 3:12 :12 1:13 2:13

Hain on Sale 'ar*in 'ort*a*e Ori*ination Golme

(< in billions)

1#9

1#/

2#33 2#33

1#(-

1#/

1#3

1#90

2#3(

2#20

2#21

2#/( 2#/(

2#21



1/

,#***

.#***

3#***

/*#***

/1#***

/,#***

/.#***

/3#***

1*#***

//* 1/* 2/* ,/* /// 1// 2// ,// //1 1/1 2/1 ,/1 //2 1/2

Fulillment F;5s

We hae effectiely mana*e" retail capacity across recent rate cycles

Current environment+ mortgage e/pense management

.Months

6Reduced

-#***F;5S

4

Months68dded-#4**F;5S

1Months6

8dded*#***F;5S

22 68nnouncedReductiono 2#***

F;5s



1(

Current environment+ economic recovery drivingcontinued credit improvement

B1B2013

'e"ian Sale rice 37' 'oin* &*#F4F& +OF4?O rchase Only Dn"eSI Case7Shiller Composite 10

1B1B2012

SourcesC

(1) .S. &e*t. of ommerce, %9%A F orelo!ic.(2) %e"eral eserve.

71/

710

7/

0

/

10

1/

20

2/

30

3/

0

/

0 0/ 0( 0- 0 09 10 11 12 13

4osehol" %ebt +2,

<ear7oer7<ear ercent Chan*e

'ort*a*eJ :2 K 73#

St"ent >oansJ :2 K #

Cre"it Car"J :2 K 70#(

732

72

71(

7

0

1(

2

71(

7

0

1(

4ome rices +1,

<ear7oer7<ear ercenta*e Chan*e



1-

0#/9

0#--

3# 3#/2

2#3

1#(11#/

1#23

0#(

0#92

2#0

1#1

0#//0#2

0#10

0#0/

0#00

0#/0

1#00

1#/0

2#00

2#/0

3#00

3#/0

#00

Commercial R5 N'L and Net Loss Rates =:>

A> Aet >oss

1**.

1**0

1**3

1**41*/*

1*//

0 2 ( 10 12 1 1( 1 20 22 2 2( 2 30 32 3 3( 3 0 2 (

; > o s s . a

t e 9

'onths on oo)

Residential R5 Loss Rates A% Eintage

200( 200- 200 2009 2010 2011

Current environment+ positive credit trends

Ne(er Eintages

0#00

0#/0

1#00

1#/0

2#00

2#/0

3#00

720#0

71/#0

710#0

7/#0

0#0

/#0

10#0

1/#0

20#0

R e s

i d e n

t i a l R 5 L o s s

R a

t e = & r e %

>

! / ! o m e

' r

i c e

I n

d e 7

C h a n g e

= B l u

e >

!o! ome 'rice Inde7 Change "s+ Resi R5Loss :

Consumer Non6R5 Loss Rates =:>

Cre"it Car" & to St"ent Other Consmer

9' sourceC orelo!ic.



1

3#2(

#39

/#11 /#1 /#33

#9

#10 3#3#21

2# 2#(1 2#( 2#0 2#20 2#3(2#0

1#21#1/

1#30

0#-0

1#00 0#/0

1:09 2:09 3:09 :09 1:10 2:10 3:10 :10 1:11 2:11 3:11 :11 1:12 2:12 3:12 :12 1:13 2:13

Aet Char*e7offs Cre"it .esere il"

Current environment+ provision e/pense at its lo%est levelsince 3&0

'ro"ision 57pense(< in billions)

roision epense of ;(/2 million at its lowest leel since 3:0(

Aet char*e7offs of ;1#2 billion, or / bps, improe" 19, or 1 bps, >:

.esere release +1 of ;/00 million in 2:13 s# ;200 million in 1:13

?pect ftre resere releases, absent si*nificant "eterioration in the economic enironment

(1) rovision e*ense minus net c5ar!e-offs, ece*t 312 @5ic5 inclu"e" </7 million in net c5ar!e-offs full$ covere" b$ loan loss reserves..

+0#/0

+0#(/

+0#/

.esere .elease

2+442+,-

1+44

-+22

-+4

1+1

+1#0 +3,

+1#0+3

+0#

1+*,+0#(

.+

-+*4

,+-.

+0#+0#

+0#2

+0#2/

+0#2

+-4+32

+11

1+**+3*

+0#/0

*+.-

+1



19

>oan ortfolio&c=isitions

;# billion of forei*n loans +8L Commercial .eal?state an" CID financin* close" 3:13

;1#( billion of 8#S# C.? from DAH sche"le"

to close in 2413

siness artnershipCre"it Car" issin* partnership with &merican

?press annonce"

Fll scale pro"ct lanch by mi"7201

3&13 momentum



20

*argets

Tar*ets "epen" on the oerall economic, interest rate an" eolin* re*latory

enironment an" assme contine" annal reene an" earnin*s *rowthoer time

;arget

?fficiency .atio // 7 /9

.O& 1#30 7 1#(0

.O? 12 7 1/

Total ayot .atio +1 M/0 7 (/

(1) 6otal *a$out means common stock "ivi"en"s an" re*urc5ases. &ivi"en"s an" s5are re*urc5ases are subGect to ?ells %ar!o boar" an" re!ulator$ a**rovals, an"ot5er consi"erations.



21

Well positioned for te future

Demonstrated perormance o"er Aoth the short and long term

7 1 consectie =arters of ?S *rowth

7 Stron* retrns erss peers

7 >ower ris) profile than lar*e peers

Managing through the current en"ironment7 .e7siNin* the mort*a*e bsiness to match "eman"

7 Dnestin* opportnistically in secrities

7 Continin* to *row non7mort*a*e fee income, as we "i" in many of or )ey bsinesses in 2:13

7 Continin* to bil" a hi*h =ality loan portfolio an" benefittin* from crrent cre"it tren"s

Well positioned or the uture

7 >ea"in* mar)et share in cornerstone pro"cts

7 roa" pro"ct set an" stron* "istribtion capabilities

7 %iersifie" reene sorces

7 ?fficient operations with a""itional opportnities for improement

7 >ar*e, low cost "eposit base7 Stron* capital

7 Focse" on retrnin* more to sharehol"ers

7 Stron* capital also *ies the ability to contine to ma)e ac=isitions



23

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