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85 Climate change is one of the most urgent threats we all face . We believe collective action is needed to transition to a low-carbon economy and minimize the impact on our most vulnerable communities . That’s why we have committed to deploying $500 billion in sustainable financing by 2030 and have set a goal of net zero greenhouse gas emissions — including financed emissions — by 2050 . In order to do this, we’ve outlined five areas of focus: 1. Setting a goal to achieve net zero greenhouse gas emissions by 2050 Net zero goal includes Scope 1, Scope 2, and relevant Scope 3 emissions, including Scope 3 category 15 emissions from investments or financed emissions. Wells Fargo achieved carbon neutrality in our operations (Scope 1 and Scope 2) in 2019 and again in 2020. 2. Committing to disclose Wells Fargo’s financed emissions measurement approach and provide more robust emissions data Disclose our approach to measuring Scope 3 financed emissions by March 2022. Enhance transparency and disclose f inanced emissions for select carbon-intensive portfolios — including the oil and gas sectors, and power sector — no later than the end of 2022. Expand disclosures to eventually include all financed emissions as sufficiently reliable data becomes available. 3. Setting interim emission reduction targets for select carbon-intensive portfolios, including oil and gas, and power Set and disclose interim targets for select carbon- intensive portfolios — including the oil and gas sectors, and power sector — no later than the end of 2022. Set and disclose targets for additional sectors within a reasonable time after disclosing financed emissions for those sectors. 4. Establishing an Institute for Sustainable Finance Establish an institute that will work across the enterprise to support clients in their climate transitions. Deploy an additional $500 billion in sustainable finance by 2030, building on the approximately $157 billion provided since 2012.¹ Support clients’ efforts to quantify their emissions. Support science-based research to aid clients in their low-carbon transitions. Advocate for policy initiatives that support clients’ low-carbon transitions as well as those that advance the U.S. meeting the goals of the Paris Agreement. Work to support communities as they prepare for and adapt to increasing weather-related impacts with a focus on low- and moderate-income and other vulnerable communities that are being disproportionally impacted by climate change. 5. Further integrating climate considerations into Risk Management Framework Further integrate climate considerations into our Risk Management Framework, eventually utilizing sufficiently reliable data as it becomes available, and use client carbon transition plans in our decision-making processes. 1 . In 2018, Wells Fargo announced our $200 billion sustainable finance commitment and updated the methodology for how we track progress . The 2018-2020 results are not comparable to previously reported results for the “finance environmentally beneficial business opportunity” progress statement . Wells Fargo’s current sustainable finance reporting methodology is available online . Climate commitment

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