Wells Fargo & Company Declares Cash Dividends on Preferred Stock

SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo & Company (NYSE: WFC) today announced dividends on 11 series
of preferred stock.

A quarterly cash dividend of $18.75 per share was declared on its 7.50%
non-cumulative perpetual convertible class A preferred stock, Series L,
liquidation preference $1,000 per share, which is traded on the New York
Stock Exchange under the symbol “WFCPrL”. The Series L dividend is
payable on June 17, 2019, to holders of record as of the close of
business on May 31, 2019.

A quarterly cash dividend of $325.00 per share was declared on its 5.20%
non-cumulative perpetual class A preferred stock, Series N, liquidation
preference $25,000 per share. This dividend equals $0.325 per depositary
share, each representing a 1/1,000th interest in a share of Series N
preferred stock, which is traded on the New York Stock Exchange under
the symbol “WFCPrN”. The Series N dividend is payable on June 17, 2019,
to holders of record as of the close of business on May 31, 2019.

A quarterly cash dividend of $320.31 per share was declared on its
5.125% non-cumulative perpetual class A preferred stock, Series O,
liquidation preference $25,000 per share. This dividend equals $0.32031
per depositary share, each representing a 1/1,000th interest in a share
of Series O preferred stock, which is traded on the New York Stock
Exchange under the symbol “WFCPrO”. The Series O dividend is payable on
June 17, 2019, to holders of record as of the close of business on May
31, 2019.

A quarterly cash dividend of $328.13 per share was declared on its 5.25%
non-cumulative perpetual class A preferred stock, Series P, liquidation
preference $25,000 per share. This dividend equals $0.32813 per
depositary share, each representing a 1/1,000th interest in a share of
Series P preferred stock, which is traded on the New York Stock Exchange
under the symbol “WFCPrP”. The Series P dividend is payable on June 17,
2019, to holders of record as of the close of business on May 31, 2019.

A quarterly cash dividend of $365.63 per share was declared on its 5.85%
non-cumulative perpetual class A preferred stock, Series Q, liquidation
preference $25,000 per share. This dividend equals $0.36563 per
depositary share, each representing a 1/1,000th interest in a share of
Series Q preferred stock, which is traded on the New York Stock Exchange
under the symbol “WFCPrQ”. The Series Q dividend is payable on June 17,
2019, to holders of record as of the close of business on May 31, 2019.

A quarterly cash dividend of $414.06 per share was declared on its
6.625% non-cumulative perpetual class A preferred stock, Series R,
liquidation preference $25,000 per share. This dividend equals $0.41406
per depositary share, each representing a 1/1,000th interest in a share
of Series R preferred stock, which is traded on the New York Stock
Exchange under the symbol “WFCPrR”. The Series R dividend is payable on
June 17, 2019, to holders of record as of the close of business on May
31, 2019.

A quarterly cash dividend of $375.00 per share was declared on its 6.00%
non-cumulative perpetual class A preferred stock, Series T, liquidation
preference $25,000 per share. This dividend equals $0.375 per depositary
share, each representing a 1/1,000th interest in a share of Series T
preferred stock, which is traded on the New York Stock Exchange under
the symbol “WFCPrT”. The Series T dividend is payable on June 17, 2019,
to holders of record as of the close of business on May 31, 2019.

A quarterly cash dividend of $375.00 per share was declared on its 6.00%
non-cumulative perpetual class A preferred stock, Series V, liquidation
preference $25,000 per share. This dividend equals $0.375 per depositary
share, each representing a 1/1,000th interest in a share of Series V
preferred stock, which is traded on the New York Stock Exchange under
the symbol “WFCPrV”. The Series V dividend is payable on June 17, 2019,
to holders of record as of the close of business on May 31, 2019.

A quarterly cash dividend of $356.25 per share was declared on its 5.70%
non-cumulative perpetual class A preferred stock, Series W, liquidation
preference $25,000 per share. This dividend equals $0.35625 per
depositary share, each representing a 1/1,000th interest in a share of
Series W preferred stock, which is traded on the New York Stock Exchange
under the symbol “WFCPrW”. The Series W dividend is payable on June 17,
2019, to holders of record as of the close of business on May 31, 2019.

A quarterly cash dividend of $343.75 per share was declared on its 5.50%
non-cumulative perpetual class A preferred stock, Series X, liquidation
preference $25,000 per share. This dividend equals $0.34375 per
depositary share, each representing a 1/1,000th interest in a share of
Series X preferred stock, which is traded on the New York Stock Exchange
under the symbol “WFCPrX”. The Series X dividend is payable on June 17,
2019, to holders of record as of the close of business on May 31, 2019.

A quarterly cash dividend of $351.56 per share was declared on its
5.625% non-cumulative perpetual class A preferred stock, Series Y,
liquidation preference $25,000 per share. This dividend equals $0.35156
per depositary share, each representing a 1/1,000th interest in a share
of Series Y preferred stock, which is traded on the New York Stock
Exchange under the symbol “WFCPrY”. The Series Y dividend is payable on
June 17, 2019, to holders of record as of the close of business on May
31, 2019.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investment and mortgage products and
services, as well as consumer and commercial finance, through 7,700
locations, more than 13,000 ATMs, the internet (wellsfargo.com) and
mobile banking, and has offices in 33 countries and territories to
support customers who conduct business in the global economy. With
approximately 262,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was ranked No. 26
on Fortune’s 2018 rankings of America’s largest corporations.

Contacts

Media Contact
Ancel Martinez, 415-222-3858
ancel.martinez@wellsfargo.com

or

Investor Relations
John Campbell, 415-396-0523
john.m.campbell@wellsfargo.com