WELLS FARGO & COMPANY/MN

Each year, our Board and each of its committees conduct a comprehensive self-evaluation in order to assess their effectiveness, review our governance practices and policies, and identify areas for enhancement. Topics reviewed generally include Board performance and effectiveness, Board composition, Board leadership structure, and training and orientation. Our Board’s annual self-evaluation is also a component of its director nomination process and succession planning.

Designing the Evaluation Process

The GNC, in consultation with our Lead Independent Director, reviews and determines the process, scope, and content of our Board’s annual self-evaluation process. The GNC continues to enhance this process based on director feedback, best practices, experience, and regulatory expectations. The GNC also considers whether to engage a third party to assist the Board in conducting its self-evaluation each year. In 2025, we engaged a third party to conduct individual interviews with each of the directors, individual conversations with our Lead Independent Director and each committee chair, and discussions of the self-evaluation results with the Board. The following chart reflects the key components of the Board’s annual self-evaluation process.