Exhibit 99.2 2Q20 Quarterly Supplement July 14, 2020 © 2020 Wells Fargo Bank, N.A. All rights reserved.

Table of contents 2Q20 Results Appendix 2Q20 Earnings Pages 2 Deferred compensation plan economic hedge results 24 Providing support during the COVID-19 pandemic 3 Real estate 1-4 family mortgage portfolio 25 Strong capital and liquidity positions 4 Consumer credit card portfolio 26 Loans 5 Auto portfolios 27 Consumer loan trends 6 Student lending portfolio 28 Commercial loan trends 7 Trading-related revenue 29 Deposits 8 Wholesale Banking adjusted efficiency ratio for income tax credits 30 Net interest income 9 Common Equity Tier 1 31 Noninterest income 10 32 Noninterest expense and efficiency ratio 11 Forward-looking statements Community Banking 12 Community Banking metrics 13 Wholesale Banking 14 Wealth and Investment Management 15 Credit quality of the loan portfolio 16 Commercial & Industrial loans and lease financing by industry 17 Commercial real estate loans by property type 18 Oil and gas loan portfolio credit performance 19 Allowance for credit losses for loans 20 Allowance for credit losses for loans – key drivers of the $8.4 billion increase 21 Capital 22 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 June 30, 2020, 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. Wells Fargo 2Q20 Supplement 1

2Q20 Earnings . Net loss of $2.4 billion included: ($ in millions, except EPS) 2Q20 1Q20 2Q19 - $9.5 billion of provision expense for credit losses: Net interest income $ 9,880 11,312 12,095 • $8.4 billion increase in the allowance for credit losses Noninterest income 7,956 6,405 9,489 • $1.1 billion of net charge-offs for loans Total revenue 17,836 17,717 21,584 - $1.2 billion of operating losses, including $765 million of Provision expense 9,534 4,005 503 customer remediation accruals for a variety of matters Noninterest expense 14,551 13,048 13,449 - $382 million of personnel, occupancy and technology expense Income tax expense (benefit) (3,917) 159 1,294 related to COVID-19 (noninterest expense) - ~$295 million of fee and interest waivers for customer Wells Fargo net income (loss) $ (2,379) 653 6,206 accommodations in response to COVID-19 (1) Diluted earnings (loss) per - $346 million of net gains on equity securities from deferred common share (EPS) $ (0.66) 0.01 1.30 compensation plan investment results, which were largely offset by $349 million of employee benefits expense • Please see page 24 for additional information - $317 million of mortgage banking income as higher net gains on mortgage loan originations/sales activities were more than offset by lower mortgage servicing income, which included MSR valuation adjustments of $(531) million for higher prepayment assumptions and higher expected servicing costs associated with higher projected defaults - $261 million gain on the sale of residential mortgage loans that were reclassified to held for sale in 2019 (other noninterest income) (1) Customer accommodation actions reflect estimates based on customer requests and may not take into account customers who have continued to make payments even after requesting a deferral. Wells Fargo 2Q20 Supplement 2

Providing support during the COVID-19 pandemic Helped more than 2.7 million customers by deferring payments and waiving fees Consumer and Small - Over 2.5 million payments deferred, representing more than $5 billion in principal Business Customers (1)(2) and interest, including $3.2 billion in mortgage loans serviced for others - Approximately 6 million fee waivers, exceeding $200 million Processed approximately 246,000 deferrals representing more than $1.5 billion in principal and interest payments Commercial Customers (1)(2) Provided commercial distribution and auto finance customers maturity date extensions representing approximately $6.6 billion of outstanding principal and interest Funded 179,000 commercial loans totaling $10.1 billion with an average loan size of $56,000 Payroll Protection - 60% were for loan amounts less than $25,000 (1) - 41% were to companies in low-and moderate-income areas or at least 50% minority Program (PPP) census tracks - 84% were for companies that had fewer than 10 employees - 90% of companies had less than $2 million in annual revenue Committed to donating approximately $400 million in gross processing fees received from the PPP to help small businesses impacted by the Open for Business Fund COVID-19 pandemic - Working with nonprofit organizations to provide capital, technical support, and long- term resiliency programs to small businesses with an emphasis on serving minority- owned businesses (1) Includes year-to-date (YTD) actions through June 30, 2020. (2) Customer accommodation actions reflect estimates based on customer requests and may not take into account customers who have continued to make payments even after requesting a deferral. Wells Fargo 2Q20 Supplement 3

Strong capital and liquidity positions 2Q20 Common Equity Tier 1 (CET 1) Ratio (1) 2Q20 Liquidity Coverage Ratio (LCR) (2) 129% 29% 10.9% 121% 10.7% above 10% 1.9%, or the regulatory $23.7 100% 9% billion, minimum above the regulatory minimum Regulatory Current Internal 1Q20 Actual 2Q20 Estimate Regulatory Minimum 1Q20 Actual 2Q20 Estimate Minimum Target . Following the FRB’s final publication of the CCAR results, we expect our stress capital buffer (SCB) to be 2.5%, which is the lowest possible under the new framework and would result in the regulatory minimum of our CET1 ratio remaining at 9% . At June 30, 2020, the Company’s primary unencumbered sources of liquidity totaled ~$511 billion (3) (1) 2Q20 capital ratio is a preliminary estimate. See page 31 for additional information regarding the Common Equity Tier 1 capital ratio. (2) 2Q20 liquidity coverage ratio (LCR) is a preliminary estimate. LCR is calculated as high-quality liquid assets divided by projected net cash outflows, as each is defined under the LCR rule. (3) Includes cash, cash equivalents, and unencumbered high-quality liquid debt securities. Primary sources of liquidity is a preliminary estimate. Wells Fargo 2Q20 Supplement 4

Loans Average Loans Outstanding Period-end Loans Outstanding ($ in billions) ($ in billions) 965.0 971.3 1,009.8 947.5 949.8 956.5 949.9 954.9 962.3 935.2 4.80% 4.61% 4.37% 4.20% 3.50% 2Q19 3Q19 4Q19 1Q20 2Q20 2Q19 3Q19 4Q19 1Q20 2Q20 Total average loan yield Commercial Consumer . Total average loans of $971.3 billion, up $23.8 . Total period - end loans of $935.2 billion, down $14.7 billion year-over-year (YoY) and $6.3 billion linked billion, or 2%, YoY driven by lower consumer real estate quarter (LQ) reflecting the ~$80 billion of commercial loans loan draws in March due to the economic slowdown . Total period-end loans down $74.6 billion, or 7%, LQ as associated with the COVID-19 pandemic declines in commercial and industrial loans, consumer real . Total average loan yield of 3.50%, down 70 bps LQ and estate loans, and credit card loans, were partially offset by 130 bps YoY reflecting the repricing impacts of lower growth in commercial real estate loans and auto loans interest rates, as well as continued loan mix changes - Please see pages 6 and 7 for additional information Wells Fargo 2Q20 Supplement 5

Consumer loan trends Consumer loans down $15.7 billion YoY; down $20.1 billion LQ as declines in consumer real estate loans, credit card loans and other revolving credit and installment loans were partially offset by modest growth in automobile loans ($ in billions, Period-end balances) B= billion, MM = million Consumer Real Estate 1-4 . First mortgage loans down $8.5B Credit Card Family First & Junior Lien 40 . Credit card down $2.8B YoY and down $15.0B LQ YoY and $2.6B LQ 300 Mortgage - LQ decrease included a $10.4B 36 reflecting the transfer to HFS as well as 250 economic slowdown paydowns, partially offset by 32 and changes in 200 $16.4B of originations consumer spending . Junior lien mortgage loans down 150 28 associated with the $5.2B YoY and $1.7B LQ as 100 COVID-19 pandemic continued paydowns more than 24 50 offset new originations 20 0 2Q19 1Q20 2Q20 2Q19 1Q20 2Q20 1-4 Family First Junior Lien Automobile Other Revolving Credit and 50 . Auto loans up $3.1B YoY and 36 Installment . Other revolving credit $240MM LQ and installment loans 45 . Originations of auto loans 32 down $2.3B YoY and down 11% YoY and 13% LQ down $1.2B LQ on 40 largely due to the economic 28 lower margin loans and slowdown associated with the security based lending, 35 COVID-19 pandemic 24 as well as lower personal loans and lines 30 and student loans 2Q19 1Q20 2Q20 20 2Q19 1Q20 2Q20 Wells Fargo 2Q20 Supplement 6

Commercial loan trends Commercial loans up $942 million YoY and down $54.5 billion LQ as almost all of the $80 billion of loan draws in March associated with the COVID-19 pandemic were paid down reflecting strength in the capital markets ($ in billions, Period-end balances) B= billion, MM = million 430 Commercial and Industrial Commercial and industrial (C&I) loans down $54.9B LQ on broad-based 410 declines across the lines of business driven by paydowns of loans following 390 increased 1Q20 loan draws, including declines of: 370 . $34.7B in Corporate & Investment Banking driven by declines in Corporate 350 Transactional Banking across all industry verticals, lower Asset Backed Finance loans, and declines in Commercial Real Estate credit facilities to REITs and other 330 non-depository financial institutions 310 . $16.2B in Commercial Capital on seasonality of summer paydowns and payoff of 290 March loan draws 270 . $9.4B in Middle Market Banking on payoff of March loan draws 250 Partially offset by: 2Q19 1Q20 2Q20 . $9.5B of PPP loans - See page 3 for additional information Commercial Real Estate 150 145 Commercial real estate (CRE) loans up $2.1B LQ 140 . CRE Mortgage and CRE Construction were up $1.2B and $882 million, respectively, 135 driven by new originations, construction fundings and loan extensions 130 125 Lease financing down $1.7B LQ predominantly driven by declines in 120 115 Equipment Finance 110 105 100 2Q19 1Q20 2Q20 Wells Fargo 2Q20 Supplement 7

Deposits Average Deposits and Rates Period-end Deposits ($ in billions) ($ in billions) 1,410.7 1,386.7 1,288.4 1,376.5 1,269.0 1,338.0 466.1 434.0 347.4 408.5 430.1 341.4 48.2 67.1 34.4 0.70% 86.7 27.8 25.1 927.6 990.6 978.2 894.1 0.52% 746.5 815.5 0.17% 2Q19 1Q20 2Q20 2Q19 1Q20 2Q20 Interest-bearing deposits Noninterest-bearing deposits Wholesale Banking Corporate Treasury including brokered CDs Average deposit cost Mortgage Escrow (1) Consumer and Small Business Banking Deposits . Average deposits of $1.4 trillion, up $117.7 billion, or 9%, . Period-end deposits of $1.4 trillion, up $122.3 billion, or YoY on growth across the deposit gathering businesses 9%, YoY on growth across the deposit gathering reflecting customers’ preferences for liquidity due to businesses reflecting customers’ preferences for liquidity COVID-19 due to COVID-19 . Average deposits up $48.7 billion, or 4%, LQ on growth in . Period-end deposits up $34.2 billion, or 2%, LQ consumer and small business banking deposits (1) - $78.6 billion increase in consumer and small business reflecting customers’ preferences for liquidity due to banking deposits (1) reflected impacts due to COVID-19 COVID-19 including customers' preferences for liquidity, loan payment - Noninterest-bearing deposits up $61.1 billion, or 18% deferrals, tax payment deferrals, stimulus checks, and lower . Average deposit cost of 17 bps, down 35 bps LQ consumer spending reflecting the lower interest rate environment - $32.1 billion decline in Wholesale Banking deposits - Wholesale Banking down 62 bps reflecting actions taken to manage under the Asset Cap - WIM down 25 bps with an emphasis on reducing certain non-operational - Retail banking down 12 bps deposits (1) Total deposits excluding mortgage escrow and wholesale deposits (Wholesale Banking, and Corporate Treasury including brokered CDs). Wells Fargo 2Q20 Supplement 8

Net interest income Net Interest Income . Net interest income decreased $2.2 billion, or 18%, YoY ($ in millions) reflecting the lower interest rate environment . Net interest income decreased $1.4 billion, or 13%, LQ 12,095 reflecting balance sheet repricing driven by the impact of 11,625 the lower interest rate environment, as well as: 11,200 11,312 - $275 million less favorable hedge ineffectiveness accounting results (2) from 1Q20 which included large 9,880 interest rate changes in the quarter - $187 million higher MBS premium amortization resulting from higher prepays (2Q20 MBS premium amortization was $548 million vs. $361 million in 1Q20) 2.82% - Partially offset by a shift to a lower-cost mix of funding 2.66% 2.58% . NIM of 2.25% down 33 bps LQ and included: 2.53% - ~(23) bps from balance sheet repricing and mix 2.25% - ~(6) bps from hedge ineffectiveness accounting results - ~(4) bps from MBS premium amortization 2Q19 3Q19 4Q19 1Q20 2Q20 Net Interest Margin (NIM) Average rates 2Q19 3Q19 4Q19 1Q20 2Q20 1 Month LIBOR 2.44 % 2.17 % 1.79 % 1.41 % 0.36 % 3 Month LIBOR 2.51 2.20 1.93 1.53 0.60 Fed Funds Target Rate 2.50 2.29 1.83 1.41 0.25 10 Year (1) CMT = Constant Maturity Treasury rate. CMT (1) 2.33 1.79 1.80 1.38 0.69 (2) Total hedge ineffectiveness accounting (including related economic hedges) of $38 million in the quarter included $12 million in net interest income and $26 million in other income. In 1Q20 total hedge ineffectiveness accounting (including related economic hedges) was $266 million and included $287 million in net interest income and $(21) million in other income. Changes in the level of market rates, basis relationships, hedge notional, and the size of hedged portfolios contribute to differing levels of hedge ineffectiveness each quarter. Wells Fargo 2Q20 Supplement 9

Noninterest income vs vs . Noninterest income up $1.6 billion, or 24% LQ ($ in millions) 2Q20 1Q20 2Q19 . Deposit service charges down $279 million LQ on lower overdraft Noninterest income activity reflecting lower debit card transaction volumes, higher fee Service charges on deposit accounts $ 930 (23) % (23) waivers, and higher average customer deposit balances, as well as Trust and investment fees: lower treasury management fees Brokerage advisory, commissions - Consumer was 45% and commercial was 55% of total and other fees 2,117 (15) (9) • Earnings credit rate (ECR) offset (results in lower fees for commercial Trust and investment management 687 (2) (14) customers) was down $58 million LQ and $89 million YoY Investment banking 547 40 20 . Trust and investment fees down $223 million Card fees 797 (11) (22) - Brokerage advisory, commissions and other fees down $365 million Other fees 578 (9) (28) on lower retail brokerage advisory fees (priced at the beginning of the Mortgage banking 317 (16) (58) quarter), as well as lower brokerage transaction revenue Net gains from trading activities 807 n.m. 252 - Investment banking fees up $156 million driven by strength in debt Net gains on debt securities 212 (11) 960 and equity capital markets Net gains from equity securities 533 n.m. (14) . Card fees down $95 million on lower interchange income reflecting Lease income 334 (5) (21) the impact of COVID-19 on consumer spending Other (1) 97 (79) (88) . Total noninterest income $ 7,956 24 % (16) Mortgage banking down $62 million - Net gains on mortgage loan originations up $898 million and included higher origination volumes and a higher gain on sale margin 10,385 - Servicing income down $960 million due to a $739 million decline in 9,489 market-related MSR valuation changes, net of hedge results driven by 8,660 MSR valuation assumption updates including higher prepayments and 7,956 servicing costs . Net gains from trading activities up $743 million from higher trading 6,405 volumes across many products, increased volatility leading to wider bid-offer spreads, and substantial spread/price improvement in certain credit markets (Please see page 29 for additional information) . Net gains from equity securities up $1.9 billion on $829 million lower securities impairment and $967 million higher deferred compensation plan investment results (P&L neutral), as well as higher realized gains (Please see page 24 for additional information on deferred compensation) 2Q19 3Q19 4Q19 1Q20 2Q20 . Other income down $370 million and included $202 million lower gains on the sale of loans ($261 million in 2Q20 vs. $463 million (1) In 2Q20, insurance income was moved to all other noninterest income. Prior period balances in 1Q20) have been revised to conform with the current period presentation. Wells Fargo 2Q20 Supplement 10

Noninterest expense and efficiency ratio (1) vs vs . Noninterest expense up $1.5 billion LQ ($ in millions) 2Q20 1Q20 2Q19 - Personnel expense up $597 million and included: Noninterest expense (2) • $231 million of expenses in response to COVID-19, including Personnel $ 8,911 7 % 5 bonus payments and premium pay for certain customer-facing Technology and equipment (2) 562 (20) (12) (3) and support employees, as well as child care services paid by the Occupancy 871 22 21 company Core deposit and other intangibles 22 (4) (19) • $947 million increase in deferred compensation expense (P&L FDIC and other deposit assessments 165 40 15 neutral) which was largely offset in net gains from equity Operating losses 1,219 163 394 securities Outside professional services 758 4 (8) o Please see page 24 for additional information Other 2,043 3 (14) • $676 million reduction from seasonally higher employee Total noninterest expense $ 14,551 12 % 8 benefits expense in 1Q - Technology and equipment expense down $144 million and included the reversal of an accrual for software expense - Occupancy expense up $156 million reflecting $133 million 15,199 15,614 14,551 of COVID-19 related expense due to additional cleaning fees, supplies, and equipment 13,449 13,048 - FDIC and other deposit assessments up $47 million on higher 78.6% 81.6% FDIC assessment base and rate 73.6% - Outside professional services expense up $31 million on higher project-related expense 69.1% - Operating losses up $755 million on higher customer remediation accruals for a variety of matters, as well as 62.3% higher litigation accruals 2Q19 3Q19 4Q19 1Q20 2Q20 Efficiency Ratio (1) Efficiency ratio defined as noninterest expense divided by total revenue (net interest income and noninterest income). (2) In 2Q20, personnel-related expenses were combined into a single line item, and expenses for cloud computing services were moved from contract services expense to technology and equipment expense. Prior period balances have been revised to conform with the current period presentation. (3) Represents expenses for both leased and owned properties. Wells Fargo 2Q20 Supplement 11

Community Banking vs vs . Net loss of $331 million, down from net income of $155 ($ in millions) 2Q20 1Q20 2Q19 million in 1Q20 and net income of $3.1 billion in 2Q19 Net interest income $ 5,699 (16) % (19) . Provision for credit losses of $3.4 billion included a $2.8 Noninterest income 3,067 13 (35) billion increase in the allowance for credit losses in the Provision for credit losses 3,378 97 605 quarter Noninterest expense 8,346 17 16 Income tax expense (2,666) n.m. n.m. Key metrics Segment net income (loss) $ (331) n.m. % n.m. . See page 13 for additional information ($ in billions) Avg loans $ 449.3 (3) (2) . 5,300 retail banking branches reflects 30 branch Avg deposits 848.5 6 9 consolidations in 2Q20 2Q20 1Q20 2Q19 - ~1,100 branches, or ~20% of our nationwide network, are Key Metrics: temporarily closed due to COVID-19 Total Retail Banking branches 5,300 5,329 5,442 . Consumer auto originations of $5.6 billion, down 13% LQ and 11% YoY ($ in billions) 2Q20 1Q20 2Q19 . Mortgage originations of $59 billion (held-for-sale = Auto originations $ 5.6 6.5 6.3 $43 billion and held-for-investment = $16 billion), up Home Lending 23% LQ and 11% YoY Applications $ 84 108 90 Application pipeline 50 62 44 - 38% of originations were for purchases, compared with Originations 59 48 53 48% in 1Q20 and 68% in 2Q19 (1) 2.04 % 1.08 % 0.98 Residential HFS production margin - 2.04% residential held-for-sale production margin (1), up 96 bps LQ and up 106 bps YoY - $259 million of originations directed to held-for-sale for future securitizations (1) Production margin represents net gains on residential mortgage loan origination/sales activities divided by total residential held-for-sale mortgage originations. Wells Fargo 2Q20 Supplement 12

Community Banking metrics Customers and Active Accounts (in millions) 2Q20 1Q20 4Q19 3Q19 2Q19 vs. 1Q20 vs. 2Q19 Digital (online and mobile) Active Customers (1) 31.1 31.1 30.3 30.2 30.0 0% 4% Mobile Active Customers (1) 25.2 24.9 24.4 24.3 23.9 1% 6% Primary Consumer Checking Customers (2)(3) 24.3 24.4 24.4 24.3 24.3 -0.3% 0.4% Consumer General Purpose Credit Card Active Accounts (4) (5) 7.3 7.9 8.1 8.1 8.0 -7% -9% . 31.1 million digital (online and mobile) active customers (1) , stable LQ and up 4% YoY reflecting continued improvements in user experience and increased customer awareness of digital services – 25.2 million mobile active customers (1), up 1% LQ and 6% YoY Balances and Activity (in millions, except where noted) 2Q20 1Q20 4Q19 3Q19 2Q19 vs. 1Q20 vs. 2Q19 Consumer and Small Business Banking Deposits (Average) ($ in billions) $ 857.9 779.5 763.2 749.5 742.7 10% 16% Teller and ATM Transactions (6) 235.2 289.4 315.1 324.3 327.3 -19% -28% Debit Cards (7) POS Transactions 2,027 2,195 2,344 2,344 2,336 -8% -13% POS Purchase Volume (billions) $ 93.1 90.6 95.2 92.6 93.2 3% 0% Consumer General Purpose Credit Cards (5) ($ in billions) POS Purchase Volume $ 15.8 18.1 21.0 20.4 20.4 -13% -22% Outstandings (Average) 29.6 32.3 32.3 31.7 30.9 -8% -4% . Average consumer and small business banking deposit balances up 10% LQ and 16% YoY . Teller and ATM transactions (6) of 235.2 million in 2Q20, down 19% LQ and 28% YoY primarily due to the temporary closure of approximately ~1,100 branches, or ~20% of our nationwide network, due to COVID-19, as well as the continued customer migration to digital channels . Debit cards (7) and consumer general purpose credit cards (5): - Point-of-sale (POS) debit card transactions down 8% LQ and 13% YoY on reduced consumer spending activity due to COVID-19 - POS debit card purchase volume up 3% LQ on higher average transaction sizes and flat YoY - POS consumer general purpose credit card purchase volume down 13% LQ and 22% YoY on reduced customer spending due to COVID-19 (1) Digital and mobile active customers is the number of consumer and small business customers who have logged on via a digital or mobile device in the prior 90 days. Prior periods have been revised so they are no longer reported on a one-month lag. (2) Metrics reported on a one-month lag from reported quarter-end; for example, 2Q20 data as of May 2020 compared with May 2019. (3) Customers who actively use their checking account with transactions such as debit card purchases, online bill payments, and direct deposit. Management uses this metric to help monitor trends in checking customer engagement with the Company. (4) Accounts having at least one POS transaction, including POS reversal, during the period. (5) Credit card metrics shown in the table are for general purpose cards only. (6) Teller and ATM transactions reflect customer transactions completed at a branch teller line or ATM and does not include customer interactions with a branch banker. Management uses this metric to help monitor customer traffic trends within the Company’s Retail Banking business. (7) Combined consumer and business debit card activity. Wells Fargo 2Q20 Supplement 13

Wholesale Banking vs vs . Net loss of $2.1 billion ($ in millions) 2Q20 1Q20 2Q19 . Net interest income down 6% LQ reflecting the impact of the Net interest income $ 3,891 (6) % (14) lower interest rate environment and lower deposit balances, Noninterest income 2,672 59 6 partially offset by higher average loans Provision for credit losses 6,028 163 n.m. . Noninterest income up 59% LQ on higher trading and Noninterest expense 3,963 5 2 investment banking results, as well as lower securities Income tax benefit (1,286) 136 n.m. impairment - Record Corporate & Investment Bank Capital Markets results Segment net income (loss) $ (2,143) n.m. % n.m. driven by strong FICC trading results and record investment grade ($ in billions) debt issuances Avg loans $ 504.3 4 6 . Provision for credit losses increased $3.7 billion LQ driven by a Avg deposits 441.2 (3) 8 $5.5 billion increase in the allowance for credit losses, and $323 million higher net charge-offs driven by losses in the oil and gas, 2Q20 1Q20 2Q19 and commercial real estate portfolios Efficiency ratio (1) 60.4 64.7 % 54.9 . Noninterest expense up 5% LQ driven by higher operating Adjusted efficiency ratio for income tax losses reflecting higher litigation accruals 55.2 58.2 50.9 credits (2) Lending-related vs vs . Unfunded lending commitments up 5% YoY and 13% LQ ($ or # in billions) 2Q20 1Q20 2Q19 . Revolving loan utilization in June of 39.1% (6), down 210 bps YoY Key Metrics: and 950 bps LQ reflecting paydowns of March loan draws Lending-related . WF Capital Finance was the #1 Bookrunner of asset-based loans Unfunded lending commitments $ 339 13 % 5 with YTD market share of 20.1% vs. 19.6% in 2019 (7) Assets under lease 25 (7) (9) Treasury Management Commercial mortgage servicing - 3rd party . Treasury management revenue down 13% YoY and 10% LQ unpaid principal balance 569 1 2 . ACH payment transactions originated (3) up 11% YoY on large Treasury Management customer volume growth and up 5% LQ ACH payment transactions originated (#) (3) 2.1 5 11 . Commercial card spend volume (4) of $5.8 billion, down 34% YoY Commercial card spend volume (4) $ 5.8 (29) (34) and 29% LQ on reductions in business travel and other purchase Investment Banking (5) activity due to COVID-19 Total U.S. market share (YTD %) 3.8 30 bps Investment Banking (5) High grade DCM U.S. market share (YTD %) 8.1 60 bps . YTD 2020 U.S. investment banking market share of 3.8% vs. Loan syndications U.S. market share (YTD %) 4.1 (40) bps YTD 2019 of 3.5% (1) The efficiency ratio is noninterest expense divided by total revenue (net interest income and noninterest income). (2) The adjusted efficiency ratio for income tax credits, which includes tax equivalent adjustments for income tax credits related to our low-income housing and renewable energy investments, is a non-GAAP financial measure. For additional information, including a corresponding reconciliation to GAAP financial measures, see page 30. (3) Includes ACH payment transactions originated by the entire company. (4) Includes commercial card volume for the entire company. (5) Year-to-date (YTD) through June 30. Source: Dealogic U.S. investment banking fee market share. (6) Preliminary estimate. (7) YTD through June 30. Source: Refinitiv. Wells Fargo 2Q20 Supplement 14

Wealth and Investment Management . vs vs Net income of $180 million, down 70% YoY and 61% LQ and ($ in millions) 2Q20 1Q20 2Q19 included a $255 million increase in the allowance for credit losses in the quarter Net interest income $ 736 (15) % (29) . Net interest income down 15% LQ primarily due to the lower Noninterest income 2,924 3 (3) interest rate environment, partially offset by higher deposit Provision for credit losses 257 n.m. n.m. balances Noninterest expense 3,153 2 (3) . Noninterest income up 3% LQ as net gains from equity securities reflecting a $413 million increase in deferred compensation plan Income tax expense 63 (59) (69) investment results (P&L neutral), were partially offset by lower Segment net income $ 180 (61) % (70) retail brokerage advisory fees (priced at the beginning of the ($ in billions) quarter) and lower brokerage transaction revenue Avg loans $ 78.7 - 5 . Noninterest expense up 2% LQ as a $401 million increase in Avg deposits 171.8 13 20 deferred compensation expense (largely offset in revenue by higher net gains from equity securities) and higher regulatory, vs vs risk, and technology expense, were partially offset by lower ($ in billions, except where noted) 2Q20 1Q20 2Q19 Key Metrics: broker commissions, lower other personnel expenses which were (1) seasonally higher in the first quarter, and lower equipment WIM Client assets ($ in trillions) $ 1.8 11 % (4) expense Retail Brokerage Client assets ($ in trillions) $ 1.6 12 (4) WIM Segment Highlights . WIM total client assets of $1.8 trillion, down 4% YoY primarily Advisory assets 569 14 1 driven by net outflows in the Correspondent Clearing business IRA assets 415 13 - . 2Q20 closed referred investment assets (referrals resulting from Financial advisors (#) 13,298 (1) (4) the WIM/Community Banking partnership) of $1.5 billion were Wealth Management down 45% LQ and 43% YoY reflecting lower referral activity due Client assets $ 224 5 (3) to COVID-19 Wells Fargo Asset Management Retail Brokerage . Advisory assets of $569 billion, up 1% YoY, primarily driven by Total AUM (2) 578 12 17 higher market valuations, partially offset by net outflows in the Wells Fargo Funds AUM 283 19 36 Correspondent Clearing business Wells Fargo Asset Management (2) (1) WIM Client Assets reflect Brokerage & Wealth assets, including Wells Fargo Funds holdings . Total AUM of $578 billion, up 17% YoY primarily driven by and deposits. money market net inflows and higher market valuations, partially (2) Wells Fargo Asset Management Total AUM that is not held in Brokerage & Wealth client assets is excluded from WIM Client Assets. offset by equity net outflows Wells Fargo 2Q20 Supplement 15

Credit quality of the loan portfolio Provision Expense and Net Charge-offs on Loans . Customer forbearance and other deferral activities ($ in millions) 9,565 instituted in response to the COVID-19 pandemic could delay the recognition of net charge-offs, delinquencies, and nonaccrual status for those customers who would have otherwise moved into past due or nonaccrual status . Net charge-offs on loans of $1.1 billion, up $204 million LQ 3,833 . 0.46% net charge-off rate (annualized), up 8 bps LQ - Commercial losses of 44 bps, up 19 bps LQ on higher C&I losses primarily related to net charge-offs in the oil and gas 909 1,113 503 653 695 645 644 769 portfolio, as well as higher commercial real estate mortgage 0.28% 0.46% 0.27% 0.38% losses 0.32% 2Q19 3Q19 4Q19 1Q20 2Q20 • See page 19 for additional information on the oil and gas Provision Expense Net Charge-offs portfolio Net Charge-off Rate - Consumer losses of 48 bps, down 5 bps LQ driven by lower losses in credit card, and other revolving credit and Nonperforming Assets 7.8 installment loans ($ in billions) 0.2 . Commercial criticized assets of $38.2 billion, up $13.3 billion, or 53%, LQ on a $7.2 billion increase in C&I and a 6.3 6.4 $6.1 billion increase in CRE 6.0 0.2 0.4 . NPAs increased $1.4 billion LQ 0.5 5.6 0.3 7.6 - Nonaccrual loans increased $1.4 billion • Commercial nonaccruals increased $1.4 billion driven by 5.9 6.2 5.5 5.3 the oil and gas, and commercial real estate portfolios o 75% of nonaccruals were current on interest and principal o See pages 17 and 18 for additional information on 2Q19 3Q19 4Q19 1Q20 2Q20 commercial nonaccrual loans Nonaccrual loans Foreclosed assets • Consumer nonaccrual loans increased $39 million Wells Fargo 2Q20 Supplement 16

Commercial & Industrial loans and lease financing by industry . C&I and lease financing nonaccrual loans of $3.0 billion, up $1.1 billion, or 59%, LQ driven by higher oil and gas, and real estate and construction nonaccruals - 47% of nonaccruals were oil and gas nonaccruals . Criticized assets of $27.8 billion, up $7.2 billion, or 35%, LQ - 61% of the increase in criticized assets were retail, entertainment and recreation, real estate and construction, and oil and gas loans 2Q20 1Q20 (1) (1) ($ in millions) Nonaccruals Loans Outstanding Total Commitments Nonaccruals Loans Outstanding Total Commitments Financials except banks $ 219 7% $ 112,130 31% $ 197,152 28% $ 95 5% $ 126,270 30% $ 204,143 28% Equipment, machinery and parts manufacturing 98 3% 21,622 6% 41,771 6% 58 3% 25,054 6% 44,641 6% Technology, telecom and media 61 2% 24,912 7% 54,894 8% 57 3% 26,896 6% 56,462 8% Real estate and construction 290 10% 25,245 7% 49,925 7% 49 3% 27,222 6% 48,977 7% Banks 0 0% 15,548 4% 16,598 2% 0 0% 20,282 5% 20,948 3% Retail 216 7% 23,149 6% 43,212 6% 204 11% 27,844 7% 43,801 6% Materials and commodities 46 2% 15,877 4% 37,877 5% 57 3% 19,118 5% 39,385 5% Automobile related 24 1% 13,103 4% 25,162 4% 24 1% 17,436 4% 26,032 4% Food and beverage manufacturing 12 0% 13,082 4% 29,284 4% 12 1% 16,908 4% 31,004 4% Health care and pharmaceuticals 76 3% 17,144 5% 32,481 5% 81 4% 18,785 4% 32,230 4% Oil, gas and pipelines 1,414 47% 12,598 3% 32,679 5% 549 29% 14,287 3% 34,443 5% Entertainment and recreation 62 2% 11,820 3% 18,134 3% 65 3% 16,163 4% 20,532 3% Transportation services 319 11% 10,849 3% 17,040 2% 336 18% 11,901 3% 17,853 2% Commercial services 98 3% 12,095 3% 24,548 3% 120 6% 12,684 3% 22,989 3% Agribusiness 54 2% 7,362 2% 12,984 2% 37 2% 6,994 2% 12,137 2% Utilities 1 0% 6,486 2% 20,615 3% 147 8% 8,598 2% 21,545 3% Insurance and fiduciaries 2 0% 6,032 2% 17,069 2% 1 0% 7,292 2% 16,481 2% Government and education 6 0% 5,741 2% 12,128 2% 7 0% 5,548 1% 11,918 2% Other 36 1% 12,731 3% 32,843 5% 11 1% 14,874 4% 32,769 4% Total $ 3,034 100% 367,526 100% $ 716,396 100% $ 1,910 100% $ 424,156 100% $ 738,290 100% Period end balances. Industry classifications based on NAICS classifications. (1) Total Commitments = loans outstanding + unfunded commitments, excluding issued letters of credit. Wells Fargo 2Q20 Supplement 17

Commercial real estate loans by property type . Nonaccrual loans of $1.3 billion, up $286 million, or 30%, LQ - 59% of nonaccruals were shopping center, retail (excluding shopping center), and hotel/motel nonaccruals - 90% of the increase in nonaccrual loans was from shopping center, hotel/motel, and retail (excluding shopping center) nonaccruals . Criticized assets of $10.4 billion, up $6.1 billion, or 140%, LQ - 88% of the increase in criticized assets was from the hotel/motel, shopping center, retail (excluding shopping center), and office buildings sectors 2Q20 1Q20 ($ in millions) Nonaccruals Loans Outstanding Nonaccruals Loans Outstanding Office Buildings $ 161 13% $ 38,489 26% $ 145 15% $ 37,492 26% Apartments 11 1% 26,978 19% 12 1% 25,745 18% Industrial/Warehouse 73 6% 17,823 12% 77 8% 17,400 12% Retail (Excluding Shopping Center) 173 14% 14,089 10% 127 13% 14,089 10% Shopping Center 399 32% 12,493 9% 279 29% 12,068 8% Hotel/Motel 170 14% 12,247 8% 79 8% 12,180 8% Mixed Use Properties 90 7% 6,304 4% 95 10% 6,632 5% Institutional 97 8% 6,068 4% 61 6% 5,975 4% Collateral Pool - 0% 2,336 2% - 0% 2,514 2% Agriculture 61 5% 2,006 1% 70 7% 2,144 1% Other 16 1% 6,828 5% 20 2% 7,340 5% Total $ 1,251 100% $ 145,661 100% $ 965 100% $ 143,579 100% Period end balances. Wells Fargo 2Q20 Supplement 18

Oil and gas loan portfolio credit performance . Oil and gas loans outstanding down 12% LQ and Credit performance overview 7% YoY, and total commitments (1) down 5% LQ . $298 million of net charge-offs in 2Q20, up and 8% YoY reflecting the impact of spring $111 million LQ reflecting depressed oil prices redetermination changes on borrowing bases, and low demand proactive portfolio management, as well as a - 87% of net charge-offs from the exploration & weaker credit environment production (E&P) sector . Nonaccrual loans of $1.4 billion, up $865 million LQ on new downgrades to nonaccrual status in Loans Outstanding and Total Commitments (1) ($ in billions) the quarter - ~93% of nonaccruals current on payments 35.4 34.4 32.7 - 98% of nonaccruals from the E&P and services sectors - Substantially all nonaccruals were senior secured . Criticized loans of $3.9 billion, up $820 million, 13.6 14.3 or 26%, LQ reflecting downward credit 12.6 migration resulting from commodity price volatility and included numerous credit downgrades of publicly-rated companies 2Q19 1Q20 2Q20 Loans outstanding Total commitments (1) (1) Total commitments = Loans outstanding + unfunded commitments, excluding issued letters of credit. Wells Fargo 2Q20 Supplement 19

Allowance for credit losses for loans . Allowance for credit losses for loans (ACL) = $20.4 billion - $8.4 billion increase in the allowance for credit losses for loans reflected increases of $6.4 billion in commercial ACL and $2.0 billion in consumer ACL - Allowance coverage for total loans of 2.19%, up from 1.19% in 1Q20 2Q20 1Q20 Loans ACL as a % Loans ACL as a % ($ in millions) ACL outstanding of loans ACL outstanding of loans Commercial Commercial & industrial $ 8,109 350,116 2.32 % $ 4,231 405,020 1.04 % Real estate mortgage 2,395 123,967 1.93 848 122,767 0.69 Real estate construction 484 21,694 2.23 36 20,812 0.17 Lease financing 681 17,410 3.91 164 19,136 0.86 Total commercial $ 11,669 513,187 2.27 % $ 5,279 567,735 0.93 % Consumer Real estate 1-4 family first mortgage $ 1,541 277,945 0.55 % $ 836 292,920 0.29 % Real estate 1-4 family junior lien mortgage 725 26,839 2.70 125 28,527 0.44 Credit card 3,777 36,018 10.49 3,481 38,582 9.02 Auto 1,174 48,808 2.41 1,016 48,568 2.09 Other revolving credit and installment 1,550 32,358 4.79 1,285 33,511 3.83 Total consumer $ 8,767 421,968 2.08 % $ 6,743 442,108 1.53 % Total $ 20,436 935,155 2.19 % $ 12,022 1,009,843 1.19 % Wells Fargo 2Q20 Supplement 20

Allowance for credit losses for loans – key drivers of the $8.4 billion increase $8.4 billion increase in our allowance for credit losses for loans reflected: Current economic environment: . Economic conditions worsened significantly compared to prior expectations as unemployment levels reached 14.7% with unprecedented initial jobless claims of 33 million in the quarter . Fiscal stimulus programs of over $2.4 trillion, including unemployment benefits and lender accommodations programs provided near-term support for borrowers and some counterweight to economic conditions Assumptions for 2Q20 ACL: . The economic forecast in our base case scenario for the 2Q20 ACL assumed near-term economic stress recovering into late 2021, as follows: - Unemployment levels are forecasted to decline to approximately 10% by 4Q20 and 6% by 4Q21 - After a significant decline, U.S. GDP levels are forecasted to grow 6% in 2H20 and 6% over 2021 - Housing prices are forecasted to remain roughly stable over the forecast horizon (approximately +/-2% YoY change into 4Q21) - Commercial real estate prices are forecasted to decline by low to mid teens . While the large majority of weight is placed on this base case scenario, we apply some weighting on a downside scenario to reflect the uncertainty in the economic forecast . Additionally, customer forbearance and other deferral activities instituted in response to the COVID-19 pandemic were considered in our loan portfolio performance expectations and resulting loss forecast . Within the commercial portfolio, the $6.4 billion increase reflected higher expected losses across the portfolio - Expected declines in the CRE portfolio with larger declines assumed for Hotel, Restaurant and Retail sector exposures. In addition, collateral prices remain highly uncertain given limited property sales - Higher expected losses in the oil and gas portfolio given commodity volatility - Higher losses in equipment and vendor finance portfolios - Commercial exposures include Small Business lending, which has an increased loss forecast due to anticipated defaults related to the economic slowdown associated with COVID-19, despite support from government guaranteed lending programs . Within the consumer portfolio, the $2.0 billion increase mainly reflected the worsening economic forecast, particularly higher unemployment levels - Higher assumed losses in first lien and junior lien mortgage loan portfolios related to higher anticipated default rates as borrowers transition out of accommodation programs - Credit card losses are expected to increase into the first half of 2021 closely tracking the higher current unemployment levels Considerations: . Our ACL amounts are influenced by a variety of factors, including changes in loan volumes, portfolio credit quality, and general economic conditions. General economic conditions are forecasted using economic variables which can change over time and therefore impact future ACL amounts Wells Fargo 2Q20 Supplement 21

Capital Common Equity Tier 1 Ratio (1) Capital Position . Despite significant increases in the allowance for credit 12.0% losses in the last two quarters, the Common Equity 11.6% Tier 1 (CET1) ratio of 10.9% at 6/30/20 (1) continued to 11.1% 10.9% be above both the regulatory minimum of 9% and our 10.7% current internal target of 10% . The impact of our election to apply the CECL transition provision to our regulatory capital at 6/30/20 was an increase in capital of $1.9 billion and an increase in the CET1 ratio of 14 bps 2020 Dodd-Frank Stress Test and Related CCAR . Following the FRB’s final publication of the CCAR results, we expect our stress capital buffer (SCB) to be 2.5%, which is the lowest possible under the new framework Expected Dividend Action 2Q19 3Q19 4Q19 1Q20 2Q20 Estimated . The Company expects to decrease its third quarter 2020 common stock dividend to $0.10 per share from $0.51 per share, subject to approval by the Company's Board of Directors at the customary time at the end of July Total Loss Absorbing Capacity (TLAC) Update . $18.3 billion of TLAC-eligible long-term debt was issued in the quarter and was only partially offset by maturities . As of 6/30/20, our eligible external TLAC as a (1) 2Q20 capital ratio is a preliminary estimate. See page 31 for additional information percentage of total risk-weighted assets was 25.3% (2) regarding the Common Equity Tier 1 capital ratio. (2) 2Q20 TLAC ratio is a preliminary estimate. compared with the required minimum of 22.0% Wells Fargo 2Q20 Supplement 22

Appendix

Deferred compensation plan economic hedge results . Wells Fargo’s deferred compensation plan allows eligible team members the opportunity to defer receipt of current compensation to a future date . Certain team members within Wholesale Banking, and Wealth and Investment Management have mandatory deferral plans as part of their incentive compensation plans . We enter into economic hedges to neutralize the impact of market fluctuations resulting from team member elections, which are recognized in personnel expense . In late May, we entered into arrangements to transition our economic hedges from equity securities to derivatives in the form of total return swaps - As a result of this transition, net (gains) losses on derivative economic hedges of deferred compensation are now presented in personnel expense as compared to using equity securities as economic hedges which were recognized in net interest income and net gains (losses) from equity securities . Deferred compensation plan economic hedge results are largely P&L neutral ($ in millions) 2Q20 1Q20 4Q19 3Q19 2Q19 vs 1Q20 vs 2Q19 Net interest income $ 3 12 26 13 18 $ (9) (15) Net gains (losses) from equity securities 346 (621) 236 (4) 87 967 259 Total revenue (losses) from deferred compensation plan investments 349 (609) 262 9 105 958 244 Change in deferred compensation plan liabilities 490 (598) 263 5 114 1,088 376 Net derivative (gains) losses from economic hedges of deferred compensation (141) - - - - (141) (141) Personnel expense 349 (598) 263 5 114 947 235 Income (loss) before income tax expense $ 0 (11) (1) 4 (9) $ 11 9 Wells Fargo 2Q20 Supplement 24

Real estate 1-4 family mortgage portfolio ($ in millions) 2Q20 1Q20 2Q19 Linked Quarter Change Year-over-Year Change Real estate 1-4 family first mortgage loans: $ 277,945 292,920 286,427 $ (14,975) (5) % $ (8,482) (3) % Nonaccrual loans 2,393 2,372 2,425 21 1 (32) (1) as % of loans 0.86 % 0.81 % 0.85 % 5 bps 1 bps Net charge-offs/(recoveries) $ 2 (3) (30) $ 5 n.m. $ 32 n.m. as % of average loans 0.00 % (0.00) % (0.04) % 0 bps 4 bps Real estate 1-4 family junior lien mortgage loans: $ 26,839 28,527 32,068 $ (1,688) (6) $ (5,229) (16) Nonaccrual loans 753 769 868 (16) (2) (115) (13) as % of loans 2.81 % 2.70 % 2.71 % 11 bps 10 bps Net charge-offs/(recoveries) $ (12) (5) (19) $ (7) n.m. % $ 7 (37) % as % of average loans (0.17) % (0.07) % (0.24) % (10) bps 7 bps . First mortgage loans down $15.0 billion LQ as $16.4 . Junior lien mortgage loans down $1.7 billion, or 6%, LQ billion of originations were more than offset by as paydowns more than offset new originations paydowns and reclassification of $10.4 billion of loans - Net recoveries up $7 million LQ due to lower net charge- to HFS offs reflecting payment deferrals - Net charge-offs up $5 million LQ - Nonaccrual loans increased $21 million LQ - First lien home equity lines of $9.8 billion, down $404 million LQ Loan balances as of period-end. Wells Fargo 2Q20 Supplement 25

Consumer credit card portfolio ($ in millions, except where noted) 2Q20 1Q20 2Q19 Linked Quarter Change Year-over-Year Change Credit card outstandings $ 36,018 38,582 38,820 $ (2,564) (7) % $ (2,802) (7) % Net charge-offs 327 377 349 (50) (13) (22) (6) as % of avg loans 3.60 % 3.81 % 3.68 % (21) bps (8) bps 30+ days past due $ 757 1,003 895 $ (246) (25) $ (138) (15) as % of loans 2.10 % 2.60 % 2.31 % (50) bps (21) bps Key Metrics: Purchase volume $ 17,471 19,907 22,459 $ (2,436) (12) $ (4,988) (22) POS transactions (millions) 246 298 329 (52) (17) (83) (25) New accounts (1) (thousands) 250 315 498 (65) (21) (248) (50) POS active accounts (thousands) (2) 7,773 8,635 8,832 (862) (10) % (1,059) (12) % . Credit card outstandings down $2.6 billion, or 7%, LQ and down $2.8 billion, or 7%, YoY reflecting the economic impact of COVID-19 including on consumer spending - Purchase dollar volume down 12% LQ and 22% YoY reflecting lower consumer spending due to the impact of COVID-19 - New accounts (1) down 21% LQ and 50% YoY due to the impact of COVID-19 . Net charge-offs down $50 million, or 21 bps, LQ and down $22 million, or 8 bps, YoY driven by lower loan balances and payment deferrals . 30+ days past due were down $246 million, or 50 bps, LQ and down $138 million, or 21 bps, YoY due to lower balances and payment deferrals Loan balances as of period-end. (1) Includes consumer general purpose credit card as well as certain co-branded and private label relationship new account openings. (2) Accounts having at least one POS transaction, including POS reversal, during the period. Wells Fargo 2Q20 Supplement 26

Auto portfolios ($ in millions) 2Q20 1Q20 2Q19 Linked Quarter Change Year-over-Year Change Consumer: Auto outstandings $ 48,808 48,568 45,664 $ 240 - % $ 3,144 7 % Nonaccrual loans 129 99 115 30 30 14 12 as % of loans 0.26 % 0.20 % 0.25 % 6 bps 1 bps Net charge-offs $ 106 82 52 $ 24 29 $ 54 n.m. as % of avg loans 0.88 % 0.68 % 0.46 % 20 bps 42 bps 30+ days past due $ 819 1,116 1,048 $ (297) (27) $ (229) (22) as % of loans 1.68 % 2.30 % 2.30 % (62) bps (62) bps Commercial: Auto outstandings $ 8,129 10,784 10,973 $ (2,655) (25) $ (2,844) (26) Nonaccrual loans 13 13 16 - - (3) (19) as % of loans 0.16 % 0.12 % 0.15 % 4 bps 1 bps Net charge-offs $ 3 4 2 $ (1) (25) % $ 1 50 % as % of avg loans 0.12 % 0.09 % 0.06 % 3 bps 6 bps Consumer Portfolio Commercial Portfolio . Auto outstandings of $48.8 billion, up modestly LQ and up 7% YoY . Loans of $8.1 billion, down 25% LQ and 26% YoY - 2Q20 originations of $5.6 billion, down 13% LQ and 11% YoY reflecting due to lower floorplan utilization as dealers held the economic slowdown associated with the COVID-19 pandemic less inventory as well as lower supply from auto . Nonaccrual loans increased $30 million LQ and $14 million YoY manufacturers . Net charge-offs up $24 million LQ, and up $54 million YoY driven by the temporary suspension of involuntary repossessions and payment deferrals in response to COVID-19 . 30+ days past due decreased $297 million LQ on seasonality and payment deferrals, and decreased $229 million YoY on payment deferrals Loan balances as of period-end. Wells Fargo 2Q20 Supplement 27

Student lending portfolio ($ in millions) 2Q20 1Q20 2Q19 Linked Quarter Change Year-over-Year Change Private outstandings $ 10,258 10,555 10,860 $ (297) (3) % $ (602) (6) % Net charge-offs 17 32 32 (15) (47) (15) (47) as % of avg loans 0.68 % 1.21 % 1.16 % (53) bps (48) bps 30+ days past due $ 208 172 148 $ 36 21 % $ 60 41 % as % of loans 2.03 % 1.63 % 1.36 % 40 bps 67 bps . $10.3 billion private loan outstandings, down 3% LQ and 6% YoY largely reflecting higher paydowns and payoffs, as well as the economic impact of COVID-19 - Average FICO of 764, and 84% of the total outstandings have been co-signed - Originations down 18% YoY driven by lower demand due to COVID-19 . Net charge-offs decreased $15 million LQ due to seasonality of repayments, and decreased $15 million YoY due to payment deferrals . 30+ days past due increased $36 million LQ and $60 million YoY reflecting the impact of payment deferrals Loan balances as of period-end. Wells Fargo 2Q20 Supplement 28

Trading-related revenue ($ in millions) 2Q20 1Q20 2Q19 Linked Quarter Change Year-over-Year Change Trading-related revenue Net interest income $ 617 774 776 $ (157) (20) % $ (159) (20) % Net gains from trading activities 807 64 229 743 n.m. 578 252 Trading-related revenue $ 1,424 838 1,005 $ 586 70 % $ 419 42 % . Fixed income, currencies and commodity trading (FICC) generated 85% of total trading-related revenue in 2Q20 . Trading-related revenue of $1.4 billion was up $586 million, or 70%, LQ: - Net interest income decreased $157 million, or 20%, reflecting a decline in average trading assets, as well as lower yields across debt securities - Net gains from trading activities up $743 million from spread/price improvement in certain credit products as markets rebounded from 1Q COVID-19 related dislocations, continued heightened volatility, larger bid/offer spreads, and increased customer flows across all markets businesses. Net gains included strong performance in Spread products on higher credit trading, gains in asset-backed securities, and higher municipal bond (muni) trading results driven by increased customer demand for taxable munis, as well as gains in Macro products on higher liquid products . Trading-related revenue was up $419 million, or 42%, YoY: - Net interest income decreased $159 million, or 20%, reflecting lower yields on the equity trading desk and debt securities, as well as lower trading assets - Net gains from trading activities up $578 million reflecting higher credit trading, higher rates and commodities results, and higher equity trading which included a higher derivatives valuation adjustment, partially offset by higher losses in asset-backed trading Wells Fargo 2Q20 Supplement 29

Wholesale Banking adjusted efficiency ratio for income tax credits We also evaluate our Wholesale Banking operating segment based on an adjusted efficiency ratio for income tax credits. The adjusted efficiency ratio for income tax credits is a non-GAAP financial measure and represents noninterest expense divided by total revenue plus income tax credits related to our low-income housing and renewable energy investments and related tax equivalent adjustments Management believes that the adjusted efficiency ratio for income tax credits is a useful financial measure because it enables investors and others to compare efficiency results from both taxable and tax-advantaged sources on a consistent basis The table below provides a reconciliation of this non-GAAP financial measure to GAAP financial measures ($ in millions) 2Q20 1Q20 4Q19 3Q19 2Q19 Wholesale Banking adjusted efficiency ratio for income tax credits: Total revenue (A) $ 6,563 5,817 6,559 6,942 7,065 Adjustments: Income tax credits related to our low-income housing and renewable 465 491 478 422 423 energy investments (included in income tax expense) Tax equivalent adjustments related to income tax credits (1) 155 163 160 141 141 Adjusted total revenue (B) 7,183 6,471 7,197 7,505 7,629 Noninterest expense (C) 3,963 3,763 3,743 3,889 3,882 Efficiency ratio (C)/(A) 60.4 % 64.7 57.1 56.0 54.9 Adjusted efficiency ratio for income tax credits (C)/(B) 55.2 % 58.2 52.0 51.8 50.9 (1) Based on our combined federal statutory rate and composite state income tax rates. Wells Fargo 2Q20 Supplement 30

Common Equity Tier 1 Wells Fargo & Company and Subsidiaries COMMON EQUITY TIER 1 UNDER BASEL III (1) Estimated Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, (in billions, except ratio) 2020 2020 2019 2019 2019 Total equity $ 180.1 183.3 188.0 194.4 200.0 Adjustments: Preferred stock (21.1 ) (21.3 ) (21.5 ) (21.5 ) (23.0 ) Additional paid-in capital on preferred stock 0.1 0.1 (0.1 ) (0.1 ) (0.1 ) Unearned ESOP shares 0.9 1.1 1.1 1.1 1.3 Noncontrolling interests (0.7 ) (0.6 ) (0.8 ) (1.1 ) (1.0 ) Total common stockholders' equity 159.3 162.6 166.7 172.8 177.2 Adjustments: Goodwill (26.4 ) (26.4 ) (26.4 ) (26.4 ) (26.4 ) Certain identifiable intangible assets (other than MSRs) (0.4 ) (0.4 ) (0.4 ) (0.5 ) (0.5 ) Goodwill and other intangibles on nonmarketable equity securities (included in other assets) (2.1 ) (1.9 ) (2.1 ) (2.3 ) (2.3 ) Applicable deferred taxes related to goodwill and other intangible assets (2) 0.8 0.8 0.8 0.8 0.8 CECL transition provision (3) 1.9 — — — — Other (0.1 ) — 0.2 0.3 0.4 Common Equity Tier 1 under Basel III (A) 133.0 134.7 138.8 144.7 149.2 Total risk-weighted assets (RWAs) anticipated under Basel III (4)(5) (B) $ 1,215.0 1,262.8 1,245.8 1,246.2 1,246.7 Common Equity Tier 1 to total RWAs anticipated under Basel III (5) (A)/(B) 10.9 % 10.7 11.1 11.6 12.0 (1) Basel III capital rules, adopted by the Federal Reserve Board on July 2, 2013, revised the definition of capital, increased minimum capital ratios, and introduced a minimum Common Equity Tier 1 (CET1) ratio. The rules are being phased in through the end of 2021. The Basel III capital requirements for calculating CET1 and tier 1 capital, along with RWAs, are fully phased-in. (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) In second quarter 2020, the Company elected to apply a modified transition provision issued by federal banking regulators in March 2020 related to the impact of the current expected credit loss (CECL) accounting standard on regulatory capital. The rule permits certain banking organizations to exclude from regulatory capital the initial adoption impact of CECL, plus 25% of the cumulative changes in the allowance for credit losses (ACL) under CECL for each period until December 31, 2021, followed by a three-year phase-out of the benefits. The impact of the CECL transition provision on our regulatory capital at June 30, 2020, was an increase in capital of $1.9 billion, reflecting a $991 million (post-tax) increase in capital recognized upon our initial adoption of CECL, offset by 25% of the $11.4 billion increase in our ACL under CECL from January 1, 2020, through June 30, 2020. (4) The final Basel III capital rules provide for two capital frameworks: the Standardized Approach and the Advanced Approach applicable to certain institutions. Accordingly, in the assessment of our capital adequacy, we must report the lower of our CET1, tier 1 and total capital ratios calculated under the Standardized Approach and under the Advanced Approach. Because the final determination of our CET1 ratio and which approach will produce the lower CET1 ratio as of June 30, 2020, is subject to detailed analysis of considerable data, our CET1 ratio at that date has been estimated using the Basel III definition of capital under the Basel III Standardized Approach RWAs. The capital ratio for March 31, 2020, and December 31, September 30 and June 30, 2019, was calculated under the Basel III Standardized Approach RWAs. (5) The Company’s June 30, 2020, RWAs and capital ratio are preliminary estimates. Wells Fargo 2Q20 Supplement 31

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 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, including our outlook for future growth; (ii) our noninterest expense and efficiency ratio; (iii) future credit quality and performance, including our expectations regarding future loan losses and our allowance for credit losses; (iv) the appropriateness of the allowance for credit losses; (v) our expectations regarding net interest income and net interest margin; (vi) loan growth or the reduction or mitigation of risk in our loan portfolios; (vii) future capital or liquidity levels, ratios or targets; (viii) the performance of our mortgage business and any related exposures; (ix) the expected outcome and impact of legal, regulatory and legislative developments, as well as our expectations regarding compliance therewith; (x) future common stock dividends, common share repurchases and other uses of capital; (xi) our targeted range for return on assets, return on equity, and return on tangible common equity; (xii) expectations regarding our effective income tax rate; (xiii) the outcome of contingencies, such as legal proceedings; and (xiv) the Company’s plans, objectives and strategies. Forward-looking statements are not based on historical facts but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions. Investors are urged to not unduly rely on forward-looking statements as actual results could differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For more information about factors that could cause actual results to differ materially from expectations, refer to the “Forward-Looking Statements” discussion in Wells Fargo’s press release announcing our second quarter 2020 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, 2019, and in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020. Wells Fargo 2Q20 Supplement 32