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Legal Notice IN RE WELLS FARG0 & COMPANY DERIVATIVE LITIGATION LEAD CASE NO. CGC-16-554407 (S.F. SUPER CT.) TO: ALL RECORD AND BENEFICIAL OWNERS OF WELLS FARGO & COMPANY COMMON STOCK AS OF JUNE 14, 2019 THE "RECORD DATE"), WHO CONTINUE TO OWN SUCH SHARES ("WELLS FARGO SHAREHOLDERS") A proposed settlement (the "Settlement) has More information is also available by calling been reached in the above-titled sharcholder (877) 865-5287 derivative action (the "Action") that is pending in the Superior Court of the State of California Inquiries, other than requests for the detailed for the County of San Francisco (the "Court"). form of notice, may be made to a representative The Action has been brought derivatively on of Lead Plaintiffs' Counsel. Should you have behalf of Wells Fargo by certain Wells Fargo any other questions regarding the proposed shareholders to remedy the harm allegedly Settlement or the Action, please contact Lead caused to the Company by the alleged Plaintiffs Counsel: breaches of fiduciary duties and violations of law by certain Wells Fargo current or former In re Wells Fargo & Co. Derivative Action officers and directors concerning, among other Cotchett, Pitre & MeCarthy things, the alleged opening of accounts without 840 Malcolm Road, Suite 200 customer knowledge or authorization at Wells Burlingame, California 94010 Fargo as well as other related fraudulent, improper, or unethical acts or practices alleged Wells Fargo shareholders who have no in the complaints in the Action ("Improper objection to the Settlement do not need to Sales Practices"). A hearing on the Settlement appear at the final approval hearing or take will be held on October 9, 2019 at 2:00 p.m. any action. Pacific Standard Time, before the Honorable Teri L. Jackson, at the San Francisco Superior If you wish to object to any aspect of Courthouse, Department 613, 400 McAllister the Settlement, the Fee Applications,, the Street, San Francisco, California 94102 (the Reimbursement Awards, or the Final Judgment "Settlement Hearing"), to determine whether and Order of Dismissal, you must provide in (i) the Settlement of the Action on the terms writing your full name, appropriate proof of and conditions provided for in the Stipulation your Wells Fargo stock ownership as of the is fair, reasonable and adequate to Wells Fargo Record Date, the basis of your objection, and and its shareholders and should be approved your signature or your attomey's signature. by the Court: (ii) Lead Plaintiffs Counsel's You may not ask the Court to order a larger and Plaintiff Joan Herron's Counsel's Fee settlement; the Court can only approve or Applications and Plaintiffs' and Herron's deny the Settlement. You may also appear Reimbursement Awards should be granted; and at the Settlement Hearing, either in person (ii) a Final Judgment and Order of Dismissal or through your own attomey. If you appear should be entered herein. Because this is a through your own attomey, you are responsible shareholder derivative action brought for the for paying that attomey. All objections to the benefit of Wells Fargo, no individual Wells Settlement, the Fee Applications and the Fargo shareholder has the right to receive Reimbursement Awands must be cither (1) any individual compensation as a result of submitted to the Court either by mailing them the settlement of this action to the Clerk of the Court, or by filing them in person at any location of the Court, OR The benefits to the Company of the proposed (2) mailed to Lead Plaintiffs' Counsel, clo Settlement, which is subject to Court approval, In re Wells Fargo & Co. Improper Sales include stock grant forfeitures ("Clawbacks") Practices Derivative Action, Cotchett, Pitre realized by Wells Fargo and certain corporate & McCarthy, 840 Malcolm Road, Suite 200, governance changes by Wells Fargo (the Burlingame, Califormia 94010 (in which case, Corporate Governance Reforms") (see Lead Plaintiffs Counsel shall then file the Stipulation Ex. A). Plaintiffs and Wells Fargo objections with the Court on your behalf). The agree that the Clawbacks set forth in the deadline to submit objections is September Stipulation and the Corporate Governance 17, 2019 and any objections must be filed or Reforms set forth in Exhibit A to the Stipulation postmarked no later than that date. All written have significant value to Wells Fargo. ohjections and supporting papers must clearly identify the case name and number (In re Wells IF YOU ARE AN OWNER OF WELLS Fargo & Company Derivative Litigation, Lead FARGO COMMON STOCK, YOUR Case No. CGC-16-554407 (S.F Super.)). RIGHTS MAY BE AFFECTED BY THE SETTLEMENT. A more detailed PLEASE DO NOT CALL OR WRITE form of notice describing the Settlement THE COURT OR THE CLERK OF THE has been published as a Current Report COURT REGARDING THIS NOTICE on Form 8-K filed with the Securities and Exchange Commission, has been published DATED: July 12, 2019 on Wells Fargo's company website at BY ORDER OF THE SUPERIOR COURT www.wellsfargo.com, and is also available at OF CALIFORNIA FOR THE COUNTY OF www.wellsfargosalesderivativesettlement.com. SAN FRANCISCO Legal Notice IN RE WELLS FARG0 & COMPANY DERIVATIVE LITIGATION LEAD CASE NO. CGC-16-554407 (S.F. SUPER CT.) TO: ALL RECORD AND BENEFICIAL OWNERS OF WELLS FARGO & COMPANY COMMON STOCK AS OF JUNE 14, 2019 THE "RECORD DATE"), WHO CONTINUE TO OWN SUCH SHARES ("WELLS FARGO SHAREHOLDERS") A proposed settlement (the "Settlement) has More information is also available by calling been reached in the above-titled sharcholder (877) 865-5287 derivative action (the "Action") that is pending in the Superior Court of the State of California Inquiries, other than requests for the detailed for the County of San Francisco (the "Court"). form of notice, may be made to a representative The Action has been brought derivatively on of Lead Plaintiffs' Counsel. Should you have behalf of Wells Fargo by certain Wells Fargo any other questions regarding the proposed shareholders to remedy the harm allegedly Settlement or the Action, please contact Lead caused to the Company by the alleged Plaintiffs Counsel: breaches of fiduciary duties and violations of law by certain Wells Fargo current or former In re Wells Fargo & Co. Derivative Action officers and directors concerning, among other Cotchett, Pitre & MeCarthy things, the alleged opening of accounts without 840 Malcolm Road, Suite 200 customer knowledge or authorization at Wells Burlingame, California 94010 Fargo as well as other related fraudulent, improper, or unethical acts or practices alleged Wells Fargo shareholders who have no in the complaints in the Action ("Improper objection to the Settlement do not need to Sales Practices"). A hearing on the Settlement appear at the final approval hearing or take will be held on October 9, 2019 at 2:00 p.m. any action. Pacific Standard Time, before the Honorable Teri L. Jackson, at the San Francisco Superior If you wish to object to any aspect of Courthouse, Department 613, 400 McAllister the Settlement, the Fee Applications,, the Street, San Francisco, California 94102 (the Reimbursement Awards, or the Final Judgment "Settlement Hearing"), to determine whether and Order of Dismissal, you must provide in (i) the Settlement of the Action on the terms writing your full name, appropriate proof of and conditions provided for in the Stipulation your Wells Fargo stock ownership as of the is fair, reasonable and adequate to Wells Fargo Record Date, the basis of your objection, and and its shareholders and should be approved your signature or your attomey's signature. by the Court: (ii) Lead Plaintiffs Counsel's You may not ask the Court to order a larger and Plaintiff Joan Herron's Counsel's Fee settlement; the Court can only approve or Applications and Plaintiffs' and Herron's deny the Settlement. You may also appear Reimbursement Awards should be granted; and at the Settlement Hearing, either in person (ii) a Final Judgment and Order of Dismissal or through your own attomey. If you appear should be entered herein. Because this is a through your own attomey, you are responsible shareholder derivative action brought for the for paying that attomey. All objections to the benefit of Wells Fargo, no individual Wells Settlement, the Fee Applications and the Fargo shareholder has the right to receive Reimbursement Awands must be cither (1) any individual compensation as a result of submitted to the Court either by mailing them the settlement of this action to the Clerk of the Court, or by filing them in person at any location of the Court, OR The benefits to the Company of the proposed (2) mailed to Lead Plaintiffs' Counsel, clo Settlement, which is subject to Court approval, In re Wells Fargo & Co. Improper Sales include stock grant forfeitures ("Clawbacks") Practices Derivative Action, Cotchett, Pitre realized by Wells Fargo and certain corporate & McCarthy, 840 Malcolm Road, Suite 200, governance changes by Wells Fargo (the Burlingame, Califormia 94010 (in which case, Corporate Governance Reforms") (see Lead Plaintiffs Counsel shall then file the Stipulation Ex. A). Plaintiffs and Wells Fargo objections with the Court on your behalf). The agree that the Clawbacks set forth in the deadline to submit objections is September Stipulation and the Corporate Governance 17, 2019 and any objections must be filed or Reforms set forth in Exhibit A to the Stipulation postmarked no later than that date. All written have significant value to Wells Fargo. ohjections and supporting papers must clearly identify the case name and number (In re Wells IF YOU ARE AN OWNER OF WELLS Fargo & Company Derivative Litigation, Lead FARGO COMMON STOCK, YOUR Case No. CGC-16-554407 (S.F Super.)). RIGHTS MAY BE AFFECTED BY THE SETTLEMENT. A more detailed PLEASE DO NOT CALL OR WRITE form of notice describing the Settlement THE COURT OR THE CLERK OF THE has been published as a Current Report COURT REGARDING THIS NOTICE on Form 8-K filed with the Securities and Exchange Commission, has been published DATED: July 12, 2019 on Wells Fargo's company website at BY ORDER OF THE SUPERIOR COURT www.wellsfargo.com, and is also available at OF CALIFORNIA FOR THE COUNTY OF www.wellsfargosalesderivativesettlement.com. SAN FRANCISCO