Wells Fargo & Company · NYSE:WFC
Wells Fargo & — Investor Presentation (2023)
14 slides from Wells Fargo &'s investor presentation, 2023
Slide 1: Investor Presentation Spring 2023
Investor Presentation Spring 2023 © 2023 Wells Fargo Bank, N.A. All rights reserved.
Slide 2: Executive Summary
Executive Summary • Wells Fargo continued its investor engagement following the 2022 Annual Meeting; feedback received during these meetings helped inform the Company’s and the Board’s decision-making. • Our Board composition is the result of a thoughtful review process and intentional refreshment a
Slide 3: Our Robust Shareholder Engagement Program
See pages 3 and 58 of our Proxy for more information on our engagement program Our Robust Shareholder Engagement Program Our Board and management highly value these opportunities to hear directly from our shareholders. Engagement Following 2022 Annual Meeting Extensive and Board-led Post-2022 Annual
Slide 4: Diverse, Effective and Experienced Board of Directors
See pages 5 – 22 of our Proxy for more information on our nominees’ Version 2 experiences, skills and qualifications Diverse, Effective and Experienced Board of Directors The Board’s composition is the result of thoughtful refreshment, which we believe includes the right mix of experiences, capabili
Slide 5: Ongoing Focus on Risk Management Oversight
See pages ii and 32 – 34 of our Proxy for more on our focus on risk and control Ongoing Focus on Risk Management Oversight Our top priority is to strengthen our Company by building an appropriate risk and control infrastructure. While we have achieved some milestones, we have work to do, and we rema
Slide 6: Executive Compensation Program Overview
See pages 66 – 81 for more information on NEO performance determinations Executive Compensation Program Overview Our executive compensation program is designed to drive strong, risk-managed performance. Promote Effective Pay for Performance Attract and Retain Talent Risk Management Elements Tied to
Slide 7: Overview of our Responsive Compensation Changes
See pages 58 – 59 for the HRC’s perspective on each of the three Version 2 key areas of enhanced disclosure Overview of our Responsive Compensation Changes Shareholders broadly affirmed the structural changes to our executive compensation program and enhanced disclosure implemented in 2021. However,
Slide 8: Oversight of Sustainability, Social, and DE&I Priorities
See page 4 of our Proxy for more information on oversight of sustainability, social, and DE&I Oversight of Sustainability, Social, and DE&I Priorities Robust Board oversight and senior management leadership provide accountability for, and leadership over, sustainability, social, and DE&I strategies.
Slide 9: The Board Recommends a Vote AGAINST Each Shareholder Proposal
See pages 105 – 106, 108, and The Board Recommends a Vote AGAINST Each 110 of our Proxy for our statements in opposition Shareholder Proposal Shareholder Proposal Key Points Simple Majority • Only two supermajority voting requirements apply for • Most matters submitted to our shareholders require on
Slide 10: The Board Recommends a Vote AGAINST Each Shareholder Proposal
See pages 111 – 112, 114, 115 – The Board Recommends a Vote AGAINST Each 116, and 117 – 118 of our Proxy for our statements in opposition Shareholder Proposal Shareholder Proposal Key Points Climate • We have taken meaningful steps since announcing our net- • We are monitoring evolving regulatory re
Slide 11: Exhibit 1.1: Financial Performance
Version 2 Exhibit 1.1: Financial Performance Below we summarize the key financial results reviewed by the HRC, which together with our non-financial results informed the HRC’s assessment of Company performance as an input into the compensation outcomes for 2022. The HRC believed it was useful to con
Slide 12: Exhibit 1.2: Notes on Non-GAAP Financial Measures
Exhibit 1.2: Notes on Non-GAAP Financial Measures We 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 i
Slide 13: ( d )/( b ) ID)
Adjusted revenue, adjusted noninterest expense, adjusted pre-tax pre-provision profit and Tangible Common Equity (including adjusted ROE and adjusted ROTCE) Year ended adjusted efficiency ratio Year ended (in millions, except ratios) Dec 31.2022 Dec 31.2021 Dec 31.2020* (in millions} Dec 31.2022 Dec
Slide 14: Thank you
Thank you Forward-Looking Statements and Website References 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 statem