February 12, 2020 -- Wells Fargo & Company today announced that on March 16, 2020, it will redeem the remaining 1,802,000 shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series K. The redemption price will be equal to $1,000.00 per Redeemed Share. After giving effect to the redemption, no shares of the Series K Preferred Stock will remain outstanding. Because the redemption date is also a dividend payment date for the Series K Preferred Stock, the redemption price does not include declared and unpaid dividends. Regular quarterly dividends in the amount of $14.3164 per share of Series K Preferred Stock will be paid separately in the customary manner on March 16, 2020 to holders of record at the close of business on February 29, 2020. All regulatory requirements relating to the redemption of the Redeemed Shares have been satisfied by Wells Fargo & Company. The redemption agent is Equiniti Trust Company, 1110 Centre Pointe Curve, Suite 101, Mendota Heights, Minnesota 55120. Payment of the redemption price for the Redeemed Shares will be sent to holders by the redemption agent on the redemption date.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Wells Fargo & Co., formerly Wachovia Corp., 7.98% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series K, liquidation preference $1000 per share, redeemable at the issuer's option on or after 3/15/2018 at $1000 per share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 7.98% ($79.80) per annum are paid semi-annually through 3/15/2018 on 3/15 & 9/15 to holders of record on the record date which will be the last day of the month prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). After 3/15/2018 distributions will be paid quarterly at a floating rate of the three-month LIBOR plus 3.77% on 3/15, 6/15, 9/15 & 12/15. The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-19 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
	FixFloat $79.80	$1,000.00 $1,000.00	Called for 3/16/2020 None	Baa2 BBB- 9/16/2019	3/15 & 9/15 Click for MW ExDiv Date Click for Yahoo ExDiv Date	YES

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Address:   420 Montgomery Street, San Francisco, CA 94163
Main Phone Number	866-249-3302
Fax Number	Not Available
Investor Relations	415-371-2921
Toll Free Phone Number	888-662-7865

CEO - Charles W. Scharf

CFO - John R. Shrewsberry