Wells Fargo & Company Releases Results of Stress Test under the Dodd-Frank Wall Street Reform and Consumer Protection Act

Wells Fargo & Company (NYSE: WFC) today released the results of its company-run stress test conducted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA). The results can be found at: https://www.wellsfargo.com/invest_relations/stress-test-reports

The Federal Reserve disclosed today the results of its supervisory-run DFA stress tests for the nation’s largest banks, including Wells Fargo, using the DFA prescribed formulaic capital distribution requirements. The Federal Reserve estimated that for the nine-quarter test horizon ending December 31, 2014, Wells Fargo’s lowest and ending Tier 1 Common Equity ratio under the hypothetical severely adverse scenario would be 7.0% and 7.0%, respectively. Using those same capital distribution assumptions, we estimate our lowest and ending Tier 1 Common Equity ratio under the same severely adverse scenario would be 8.3% and 9.2%, respectively.

Under both our and the Federal Reserve’s calculations, Wells Fargo’s capital ratios under Basel I and the Basel 2.5 market risk rule remain above the Federal Reserve’s minimum Tier 1 Common Equity ratio of 5.0%. On March 14, 2013, the Federal Reserve will release its estimates of Wells Fargo’s capital ratios using the same financial assumptions, but with our planned capital actions for the two-year forecast horizon.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

Cautionary Statement About Forward-Looking Statements

This news release contains forward-looking statements about our future regulatory capital levels, which will be an important factor in determining the extent we may pay common stock dividends and repurchase our common stock. Forward-looking statements speak only as of the date made, and we do not undertake to update them. Actual capital levels may vary materially from the estimates described in this news release due to a number of factors, including those described in our reports filed with the Securities and Exchange Commission and available at www.sec.gov. The amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of the Company, market conditions, capital requirements (including under Basel capital standards), common stock issuance requirements, applicable law and regulations (including federal securities laws and federal banking regulations), and other factors deemed relevant by the Company’s Board of Directors, and may be subject to regulatory approval or conditions.