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4th Quarter 2010

Wells Fargo Today

Who we are

Who we are
Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores and 12,000 ATMs and the Internet ( and across North America and internationally.

Were headquartered in San Francisco, but were decentralized so every local Wells Fargo store is a headquarters for satisfying all our customers financial needs and helping them succeed financially. One in three households in America does business with Wells Fargo. Wells Fargo has $1.3 trillion in assets and approximately 280,000 team members across our 80+ businesses. We ranked fourth in assets and second in market value of our stock among our U.S. peers as of December 31, 2010. Our vision: We want to satisfy all our customers financial needs and help them succeed financially.

FORTUNE 19th in Revenue Among All Companies in All Industries (2010) Worlds 39th Most Admired Company (2010) Top 100 Best Companies in the World (2010) Worlds 50 Most Respected Companies (2010) Americas #2 Most Generous Corporate Foundations (2010) Among America's Top 50 Greenest Big Companies (2010) Perfect Score of 100 on Corporate Equality Index (2010) Top 20 Green Power Partner Companies (2009) Top 50 Companies for Diversity (2010) Top 10 Companies for Asian Americans Top 10 Companies for Lesbian, Gay, Bisexual, and Transgender Employees Top 20 U.S. Companies for Latinas (2010) Americas #1 Large Bank for Customer Satisfaction (2010) Outstanding rating for Community Reinvestment Act performance (2009) Best Consumer Internet Bank and Best Corporate/Institutional Internet Bank in North America (2010) #2 market share for primary correspondent bank relationships (2009) Future Mobile Award (2010) Gold ranking for mobile banking services in 2010 Mobile Banking Scorecard (2010) #1 Bank Brand in Customer Loyalty Engagement Index (2010) Summit Award for Exceptional Volunteerism (2010) One of Americas Top Banking Teams (2010) Among Top 50 Employers for Workforce Diversity (2010)

Forbes Barrons BusinessWeek Newsweek Human Rights Campaign U.S. Environmental Protection Agency Diversity Inc.

LATINA Style American Customer Satisfaction Index Office of the Comptroller of the Currency Global Finance

FImetrix Juniper Research Javelin Strategy & Research

Brand Keys United Way of America U.S. Banker and American Banker Workforce Diversity fors Engineering & IT Professionals

North Americas most extensive financial services network

#1 in U.S.

Banking stores (Wells Fargo and Wachovia stores in 39 states & D.C.) Total stores (Wells Fargo and Wachovia stores) Total mortgage producer; Retail mortgage producer Mortgage lender to low-to-moderate income home buyers (2009 HMDA data) Residential Mortgage Lender Used car lender (AutoCount 2Q 2010) Small business lender (U.S. in dollars per 2009 Community Reinvestment Act government data) SBA 7(a) lender in dollars (2010 Small Business Administration federal fiscal year-end data) Underwriter of preferred stock (FY 2010, Bloomberg) REIT preferred stock (FY 2010, Thomas Financial) Real estate lead arranger of loan syndications by volume and number of transactions (FY 2010, Thomson Reuters LPC) Agribusiness lender (U.S. Government data) Deposits Issuer of Debit Cards Mortgage servicer Annuity distributor REIT common stock (FY 2010, Dealogic) High grade bond secondary trading (FY 2010, MarketAxess) Arranger of asset-based loans by volume and number of transactions (FY 2010, Thomson Reuters LPC) Non-investment grade loan issuer by number of transactions (FY 2010, Thomson Reuters LPC) Branded bank ATM owner (12,196 Wells Fargo and Wachovia ATMs) Full-service retail brokerage provider based on number of Financial Advisors and client assets Loan syndication bookrunner by number of transactions (FY 2010, Thomson Reuters LPC) High grade corporate loan issuer by number of transactions (FY 2010, Thomson Reuters LPC) Wealth management provider IRA provider Family wealth provider Equity capital markets bookrunner by number of transactions (FY 2010, SDC) Institutional retirement plan recordkeeper Issuer of Credit Cards Merchant processor for Credit and Debit Cards Top senior manager of municipal competitive bond issues (FY 2010, Thomson Reuters) High yield bond issuer by number of transactions (FY 2010, Bloomberg)
* Includes Wells Fargo and Wachovia

Key facts*
Assets Team members Customers Stores ATMs Market Value of Stock

as 0f 12/31/10 $1.3 trillion 280,000 70 million More than 9,000 12,196 $163.1 billion

#2 in U.S.

#3 in U.S.

#4 in U.S. #5 in U.S.

#6 in U.S. #7 in U.S.

#8 in U.S.

Our Businesses
Social Responsibility
We promote economic development and self-sufficiency through community development, financial education, cash contributions, affordable housing, environmental stewardship, and through the efforts of our enthusiastic team member volunteers. In 2010, Wells Fargo invested $219 million in 19,000 nonprofits nationwide, surpassing $200 million for the third year in a row. Our success comes from a time-tested formula: local people making local decisions because they know best what their communities need. Additional information about our achievements in social responsibility is available at:

Arts and Culture 8% Civic 6% Community 28% Development Education 30% Environmental 2% Human Services 25% Other 1%


152 122 90 31 123 1,034 128 171 8 262 96 4 13 719 50 668 139 279 18 53 45 74 23 36 1 290 319 147 46 27 177 57 23 289 313 20 81 30 82 74

Regional Banking

6,314 banking stores in 39 states & D.C. (Wells Fargo and Wachovia) More than 20 million retail households One of United States' most extensive banking franchises

Banking stores*
Alabama (139) Alaska (50) Arizona (262) Arkansas (4) California (1,034) Colorado (171) Connecticut (74) Delaware (20) District of Columbia (30) Florida (668) Georgia (279) Idaho (90) Illinois (23) Indiana (36) Iowa (74) Kansas (8) Maryland (81) Michigan (23) Minnesota (177) Mississippi (13) Montana (46) Nebraska (45) Nevada (123) New Jersey (313) New Mexico (96) New York (82) North Carolina (319) North Dakota (27) Ohio (1) Oregon (122) Pennsylvania (289) South Carolina (147) South Dakota (53) Tennessee (18) Texas (719) Utah (128) Virginia (290) Washington (152) Wisconsin (57) Wyoming (31)

*Includes Wachovia locations, still to be converted to Wells Fargo banking stores. Customers should continue to bank as usual.

Our Businesses
Wells Fargo Online

Wells Fargo is a leading provider of online financial services, offering individual consumers, small and middle market businesses and large corporations a full range of banking, money movement, investing, asset management and other financial and risk management products and services through the online channel. The free* and secure Wells Fargo MobileSM Banking service also allows consumer and small business customers to connect to their Wells Fargo accounts through three easy ways: mobile web (, text messaging (93557), and via downloadable app. at through our Android, BlackBerry, iPhone and iPod touch, or Palm mobile banking applications ("apps"), where customers may quickly log in to check their accounts or to find the nearest Wells Fargo ATMs.

Online Banking

18.3 million combined active online customers 4.7 million combined active mobile customers

*Mobile carriers text messaging and web access charges may apply

ATM Banking

12,196 Wells Fargo and Wachovia ATMs. 8,029 Envelope-FreeSM ATMs make deposits easier, accepting deposits in stacks of 30 checks or 50 bills. Cash is credited immediately; check amounts are automatically read and images are shown on the screen and receipt, and the business day is extended to 9 pm. Wells Fargos exclusive ATM machines offer email receipts to Wells Fargo Online customers and automatically remember customers most used transactions, for faster, more convenient banking. Wells Fargo has upgraded all Wachovia ATMs to offer these same features, including the following benefits: provide seven different on-screen language options English, Spanish, French, Chinese, Hmong, Korean, Russian and Vietnamese; feature voice instructions for the visually impaired; sell U.S. postage stamps; deliver targeted messages to inform our customers of new products and services that can help them become more financially successful; and, provide the highest level of transaction security.

Wells Fargo Customer Connection

Contact centers providing primary telephone service and sales channel 24/7 for customers across the territory; 30 sites with 13,000 team members handling over 500 million customer contacts annually, creating best-in-class multi-channel customer experiences via phone banker, Voice Response Unit (VRU), email, and correspondence for consumer, credit card, business banking, home equity, and online banking customers.

Wells Fargo Debit and Consumer Credit Card

#2 debit card issuer 39.6 million debit card accounts Including Wachovia: 11.4 million credit card accounts $18.0 billion in total credit card outstandings

Our Businesses

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Wells Fargo Home Mortgage


Nations #1 residential mortgage lender (3Q 2010 data, Inside Mortgage Finance) and #2 servicer of home mortgages (3Q 2010 data, Inside Mortgage Finance).** Serving mortgage customers in all 50 states through more than 2,500 mortgage and Wells Fargo banking stores, and the Internet. 12 million loans serviced.** Originations: $262.9 billion (Wells Fargo and Wachovia data combined, year to date through 3Q 2010, as reported by Wells Fargo to Inside Mortgage Finance).** Owned Mortgage Servicing: $1.8 trillion (Wells Fargo and Wachovia data combined, 3Q 2010, as reported by Wells Fargo to Inside Mortgage Finance).**

Wells Fargo Home Mortgage stores*

Alabama (5) Alaska (4) Arizona (16) Arkansas (5) California (135) Colorado (22) Connecticut (6) Delaware (6) Florida (38) Georgia (19) Idaho (2) Illinois (24) Indiana (11) Iowa (3) Kansas (6) Kentucky (4) Louisiana (6) Maine (3) Maryland (14) Massachusetts (21) Michigan (11) Minnesota (25) Mississippi (3) Missouri (17) Montana (6) Nebraska (1) Nevada (3) New Hampshire (5) New Jersey (21) New Mexico (4) New York (28) North Carolina (26) North Dakota (1) Ohio (21) Oklahoma (9) Oregon (16) Pennsylvania (30) Rhode Island (1) South Carolina (7) Tennessee (20) Texas (31) Utah (5) Vermont (2) Virginia (26) Washington (34) Washington D.C. (2) West Virginia (6) Wisconsin (12) Wyoming (2)

*Excludes Mortgage locations inside banking stores. **Includes Wells Fargo Home Mortgage, Wells Fargo Financial, Wells Fargo Home Equity and Pick-A-Payment.

Our Businesses
Personal Credit Management
Unsecured personal lines of credit and unsecured personal loans, transportation loans, boat loans and other vehicle loans) and loans secured by bank deposits. Primary sales channels: Wells Fargo Regional Bank, Internet/ and Wells Fargo Phone Bank. Accounts: 1.4 million Portfolio Balances: $6.1 billion New accounts in Q310: 28,493

Global Remittance Services

Global Remittance Services is a consumer payment business that allows customers to send money from the United States to the top consumer remittance destinations worldwide. The Wells Fargo ExpressSend service is an economical, convenient, and dependable way to send money home. The largest US bank managed remittance network overseas with over 27,000 remittance payout locations with 26 remittance paying institutions located in 15 countries. #1 fastest growing and most admired US Bank in global remittances according to Aite Research in Money Transfers: Riding the Storm (April 2009) #1 US Bank for sending money to Latin American and the Caribbean according to Inter-American Dialogue study A Scorecard in the Market for Money Transfers (2010) Originated more than $1.4 Billion in remittances to overseas locations in 2010 Consumer remittance service to Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Dominican Republic, Colombia, Ecuador, Peru, Bolivia, Argentina, the Philippines, India, Vietnam and China.

Wells Fargo Financial

Wells Fargo Financial has served millions of customers for more than 100 years by providing responsible and affordable lending solutions through its own stores. With the Wachovia merger in place, Wells Fargo customers now have access to more than 6,300 retail banking stores from coast-to-coast, along with more than 2,000 Wells Fargo Home Mortgage stores. This distribution makes Wells Fargo Financials separate network of 638 consumer lending stores duplicative and no longer economically viable, therefore Wells Fargo Financials network of U.S. consumer-finance stores have closed, effective September 10, 2010. The remaining business lines have been realigned with business units elsewhere within Wells Fargo. Most consumer lending products previously offered by Wells Fargo Financial will remain available through Wells Fargos community banking and home mortgage stores as well as our network of phone banks and We will continue to offer credit products and services to as many credit-worthy customers as possible, utilizing common systems and processes in the community banking and home mortgage stores. Wells Fargo Financial no longer originates non-prime portfolio real estate loans. Wells Fargo will continue to offer FHA loans for purchase and refinance through the Home Mortgage division.

Our Businesses
Wealth, Brokerage and Retirement
One of the largest wealth management, retail brokerage and retirement providers in the U.S. The group focuses on providing solutions that meet clients unique needs. It provides comprehensive planning and advice, investment management, retail brokerage, private banking, retirement and trust and estate services.

Retail Brokerage

Wells Fargo Advisors operates the nations third-largest retail brokerage business with 15,188 full-service financial advisors in locations nationwide and 4,386 licensed bankers in Wells Fargo and Wachovia banking stores. Brokerage administers $1.2 trillion in client assets, including $235 billion in managed account assets, and has $80 billion in deposits. Wells Fargo Advisors combines the capabilities of a large, national retail brokerage company with the culture of a smaller, regional firm through its commitment to Financial Advisors and client relationships. The company provides an array of services, including planning and advice, asset management, estate investment planning, retirement planning and portfolio monitoring. Wealth Management and Family Wealth administer about $150 billion in client assets and $47 billion in deposits. Wealth Management also manages more than 117,000 trust accounts. Wealth Management provides affluent and high-net-worth clients wealth management services that include private banking, investment management, trust and estate services, holistic financial and business planning services and charitable services along with bank-based brokerage through Wells Fargo Advisors. Family Wealth provides services to ultra-high net worth clients with at least $50 million in relationship assets and is the nations fifth-largest multi-family office practice according to the Family Wealth Alliance, LLC. Wells Fargo Retirement is a leader in providing retirement services to retail customers and companies. Wells Fargo has $266 billion in IRA assets and is the nations fifthlargest IRA provider according to Cerulli. Wells Fargo also is the second-largest annuity distributor according to the Sun Life Distributor Survey. Ranked as the nations sixth-largest recordkeeper by PLANSPONSOR Magazine, Wells Fargo services 401(k), pension and other retirement plans for 3.5 million employees and pensioners, totaling $231 billion in assets, and is a leading provider of retirement educational services to plan sponsors and participants. Wells Fargo also administers $285 billion in custody assets, provides investment solutions and executive benefits consulting to institutional clients and delivers reinsurance services to global insurance companies.

Wealth Management


Our Businesses

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Wealth, Brokerage and Retirement

U.S. Brokerage Locations*

Alabama (25) Alaska (2) Arizona (43) Arkansas (23) California (117) Colorado (31) Connecticut (17) Delaware (4) Florida (75) Georgia (40) Hawaii (4) Idaho (12) Illinois (62) Indiana (33) Iowa (14) Kansas (21) Kentucky (11) Louisiana (20) Maine (3) Maryland (33) Massachusetts (23) Michigan (36) Minnesota (12) Mississippi (11) Missouri (32) Montana (4) Nebraska (14) Nevada (11) New Hampshire (12) New Jersey (54) New Mexico (5) New York (75) North Carolina (57) North Dakota (4) Ohio (66) Oklahoma (14) Oregon (20) Pennsylvania (68) Puerto Rico (1) Rhode Island (5) South Carolina (25) South Dakota (9) Tennessee (17) Texas (74) Utah (10) Vermont (6) Virginia (46) Washington (21) Washington D.C. (2) West Virginia (9) Wisconsin (28) Wyoming (3)

Includes Wells Fargo Advisors Private Client Group and Financial Network locations. Does not include brokerage locations in bank stores.

Wealth, Brokerage and Retirement provides financial products and services through various banking and brokerage affiliates of Wells Fargo & Company. Wells Fargo Advisors is the trade name used by two separate registered broker dealers and non-bank affiliates of Wells Fargo & Company: Wells Fargo Advisors, LLC, and Wells Fargo Advisors Financial Network, LLC (members SIPC). Statistics include First Clearing, LLC, and H.D. Vest Investment ServicesSM (members SIPC), separate broker-dealers of Wells Fargo & Company (First Clearing is a non-bank affiliate and H.D. Vest is a subsidiary). Insurance products are offered through affiliated non-bank insurance agencies. Wachovia is a Wells Fargo Company. 0111-4026

Investment and Insurance Products:

Not FDIC Insured

NO Bank Guarantee

MAY Lose Value

Our Businesses
Home Equity
One of the nations leading prime home equity originators with multi-channel distribution in all 50 states. $118 billion portfolio* Serves nearly 2.1 million customer households as of December 2010


*Consists of real estate 1-4 family junior lien mortgages and lines of credit secured by real estate from all groups, excluding PCI (purchase credit-impaired) loans.

Auto Dealer Services

# 1 Used Car Lender (Auto Count 2Q 2010) A leading nationwide provider of integrated solutions for the dealer community One of the nation's largest auto finance lenders and the nation's #1 used car lender* $33.7 billion in managed auto and consumer loans Relationships with over 11,000 dealers Commercial, real estate and floorplan lending** Banking products and services targeted for dealer community** Aftermarket products and services through Warranty Solutions*** New realignment: Reliable Financial Services, based in Puerto Rico, offering auto finance, floorplan loans, insurance services and mortgages.

* Source-AutoCount (excluding leases) for Q2 2010 ** Offered through Wells Fargo Bank, N.A. and Wachovia Bank *** Warranty Solutions is a part of Wells Fargo Corporation

Education Financial Services (Combined EFS and WEF)

Wells Fargo Education Financial Services is one of the nations leading private education loan providers; with a portfolio of $26.4 billion of both federal and private education loans.

Offering education financing for more than 40 years Serving 1.9 million student and family customers Originated more than $6.4 billion in federal and private education loans in 2010.

Wells Fargo Insurance

Wells Fargo Insurance, Inc. (Personal and Small Business Insurance)

One of the largest insurance agencies associated with a bank. Helping customers protect what they value since 1903. An independent, full-service, nationwide agency. Property and casualty, life insurance and other protection products to individuals and small business owners through centralized and direct models. Serves 2.6 million customers of Wells Fargo affiliates across the country. One of the U.S. largest crop insurance providers, operating in all 50 states

Rural Community Insurance Services (Crop Insurance)

Our Businesses
Norwest Equity Partners


Founded in 1961, Minneapolis-based Norwest Equity Partners ( is an investment firm focused on partnering with business owners to grow their businesses into industry leaders. $30-$150 million investments in profitable and growing middle market companies primarily through management buyouts, recapitalizations and growth financings across a variety of industry sectors to include: consumer products and services, distribution, financial services, healthcare, manufacturing, applied technology and business services. $4.6 billion in capital and commitments under management; flexible junior capital solutions through Norwest Mezzanine Partners.

Norwest Venture Partners

Norwest Venture Partners (NVP) (, is a global, multi-stage investment firm that manages more than $3.7 billion in capital. Headquartered in Palo Alto, Calif., NVP has subsidiaries in Mumbai and Bengaluru, India, and Herzelia, Israel. NVP makes early to late stage venture and growth equity investments in U.S. and global companies across a wide range of sectors including: information technology, business services, financial services and consumer. NVP has actively partnered with entrepreneurs to build great businesses for more than 49 years and has funded nearly 500 companies since inception.

Business Banking
Serving over 2.5 million businesses with annual revenues of up to $20 million.

Business Deposits
Providing deposit and other cash management services to businesses ranging from sole proprietorships to businesses with annual revenues of up to $20 million.

Business Lending
Offering Wells Fargo working capital lines of credit, business credit cards, equipment loans and commercial real estate loans nationwide. Wells Fargo is: Americas #1 small business lender (in both loans under $100,000 and under $1 million) and #1 lender to small businesses in low-and moderate-income areas, according to 2009 Community Reinvestment Act government data. Americas #1 SBA 7(a) lender in dollars and the #3 lender in units (Small Business Administration federal fiscal year-end data 2010) SBA Preferred Lender in 50 states. A lending leader to women- and diverse-owned businesses, Wells Fargo has loaned close to $42 billion to women-and diverse-owned businesses since 1995.*

*Represents legacy Wells Fargo only

Merchant Services
Processing $108 billion annually in card sales volume, Wells Fargo is a leader in the electronic payment industry.

Practice Finance
Providing dental, medical, veterinary and optometry professionals with financing and support to start, grow or update their private practice.

Business Payroll Services

Providing payroll processing, reporting and tax services for business customers.

National Business Banking Center (NBBC)

Providing 24/7* telephone customer service support to our business banking customers.
*Represents legacy Wells Fargo only

Business Insight Resource Center

Offering expert financial education and advice through a library of videos, podcasts, articles and more to help small business owners manage and grow their businesses. Visit the Business Insight Resource Center at

Our Businesses
Lowry Hill


24-year-old firm providing investment management and comprehensive financial planning services for high net-worth families, foundations and endowments. Over $5.2 billion in assets under management and nearly 300 clients in 44 states. 97% business retention since 1986 inception of firm. $10 million investment minimum. Private equity investments for portfolios of $20 million or more. Four proprietary equity investment styles (U.S. large cap growth, international large cap, U.S. small cap, income equity) plus Marketable Alternatives and fixed income; client accounts hold individual securities chosen from models constructed by Lowry Hill Investment Principals. Locations: Chicago, Minneapolis, Scottsdale, Ariz. and Naples, Fla.

Wholesale Banking
Wholesale Banking provides financial solutions to businesses across the United States with annual sales generally in excess of $10 million and financial institutions globally. Products include middle market banking, corporate banking, commercial real estate, treasury management, asset-based lending, insurance brokerage, foreign exchange, correspondent banking, trade services, specialized lending, equipment finance, corporate trust, investment banking, capital markets and asset management.

Commercial Banking
Commercial Banking offers comprehensive solutions tailored for the needs of middle-market businesses ($10-750 million in annual revenues).

More than 95 Regional Commercial Banking Offices and more than 30 satellite offices nationwide. Offers credit, treasury management, risk management, investment products and financial services for middle-market customers. Serves companies in a wide variety of industries, with specialty group expertise in the agriculture, beverage, finance, environmental services, and technology sectors. #1 Market Share for middle market companies (defined as annual revenues of $25-500 million). More companies chose Wells Fargo as their lead bank than any other institution in the country. (Greenwich Associates) Americas #1 lender to Agribusiness (U.S. Government Data). Recognized by Greenwich Associates for leadership in providing international service to middle-market companies.

Treasury Management
Middle-market and large corporate businesses across the U.S. use Wells Fargo global treasury management products and services.

Receivables Solutions
Community banks in 39 states and the District of Columbia; nationwide lockbox and cash vault networks, remote deposit products.

Payment Solutions
ACH, commercial credit cards, payment gateway services, employee paycards, prepaid cards, wire transfers and check services.

Technology Solutions

Check image, electronic check conversion and Check 21 clearing, corporate mobile banking and treasury workstation services all integrated online and available through the CEO portal. Only bank to win four ACH quality and service excellence awards. Continued on next page

Our Businesses
Wholesale Banking . . . contd
Commercial Electronic Office Portal


Providing instant online access to the financial services you need to manage your business, the Commercial Electronic Office (CEO) portal offers a single sign-on to more than 60 applications. The CEO portal, broadly used by treasury management customers, also offers online access to credit, foreign exchange, trade services, health benefit services, insurance, and, trust and investment services. With its simple self-service features, customers can set up and modify user authorizations and more. Wells Fargos CEO Mobile service helps customers monitor account balances, move money and perform time-sensitive approvals from wherever they are using a web enabled mobile phone or PDA device.

Government & Institutional Banking

Unique in the industry, Wells Fargo Government & Institutional Banking (GIB) provides a wide range of solutions to meet the needs of government, education, healthcare and not-for-profit organizations. Bringing together specialized commercial banking teams, public finance investment bankers, and tax-exempt sales and distribution professionals into one team, GIB offers an integrated approach that leverages the resources of Wells Fargo to create value for approximately 5,000 clients. In addition to providing a world-class customer experience for our clients, GIB bankers are committed to being good citizens, from charitable giving to volunteering to public service. The five segments of GIB include:

Education & Nonprofit Banking: Provides commercial banking solutions for colleges, universities, associations, 501(c) organizations, charitable organizations, foundations, endowments, national and local nonprofit organizations, and unions. Government Banking: Provides commercial banking solutions for governments (federal, state, county and city), government agencies and authorities, water districts, municipal utilities and school districts. Healthcare Financial Services: Provides commercial banking solutions for nonprofit hospitals, hospital-affiliated clinics, physician practices, ambulatory surgery centers, assisted-living facilities, and nonprofit 501(c)3 entities. Public Finance Investment Banking: Provides taxable and tax-exempt investment banking, derivatives marketing, credit and syndications solutions for issuer clients. Sales, Trading & Syndicate: Underwrites debt issuance and provides sales and trading functions for taxable and tax-exempt securities.

Real Estate Businesses

Commercial Real Estate (CRE)

#1 in commercial real estate originations in the U.S. #1 lender for office, multifamily, affordable housing, retail, industrial, hotel and healthcare properties in the U.S.

Hospitality Finance Group (HFG)

A specialty lending group that provides financial products and services to leading hotel owners throughout the United States. Customers include well-capitalized private owner/operators, institutional real estate funds dedicated to hospitality and public hotel REITs.

Middle Market Real Estate (MMRE):

Provides middle-market commercial real estate investors and developers with financing for income-producing properties such as multi-family properties, office complexes, industrial parks, and retail properties. MMRE provides construction, interim, mini-perm financing, and construction loan advisory services. Loans range from $1 million to $25 million.

Real Estate Banking Group (REBG)

Targets mid-sized (net worth of greater than $25 million) to well-capitalized commercial and residential real estate developers, operators and investors. These clients are generally privately held companies, real estate funds and public and private REITs. REBG also provides mezzanine financing and structured real estate debt to national, regional and local investors and developers of commercial real estate, including institutional investors, public real estate companies and trusts, co-mingled funds, and pension fund advisors on behalf of their clients.

Real Estate Capital Investments (RECI)

Provides direct equity and equity-like structured investments, including preferred equity, in partnerships managed by existing customers primarily of the CRE platform. Customers are well-known and experienced in the product type and market, with demonstrated track record and potential. Continued on next page

Our Businesses
Wholesale Banking . . . contd
Community Lending and Investment


Financing for affordable residential and commercial projects, tax credits/CRA investments supporting economic development and job creation in communities.

Real Estate Capital Markets

Recourse and non-recourse fixed- and variable-rate permanent financing on income-producing properties.

Commercial Mortgage Servicing

The largest commercial mortgage-backed securities loan servicer in the nation.

Wells Fargo Multifamily Capital

Non-recourse, permanent financing for multifamily properties and healthcare facilities through FHA, Fannie Mae, Freddie Mac and conduit programs.

Corporate Banking Group

The Corporate Banking Group encompasses a diverse set of general corporate and industry specialized relationship businesses which provide the full range of Wells Fargos products including credit facilities, treasury management, risk management and investment banking to over 1,700 clients in 37 offices nationwide. A brief description of the target customers served within each of the Corporate Banking division follows below.

U.S. Corporate Banking

Companies with annual revenues in excess of $500 million across a broad range of industries including general industrial, consumer and retail, healthcare, technology and business services, transportation, defense, media and telecommunications.

Financial Institutions Group

Financial services providers in the insurance, securities brokerage, asset management, exchange, payment processing, financial technology, title, and consumer/commercial finance industries.

Power and Utilities Group

Investor-owned electric and natural gas utilities, electric power generation and transmission companies.

Energy Group
Entire spectrum of public and private, middle market and large corporate companies in all sectors of the oil and gas industry including: Exploration & Production, Energy Services & Equipment, Mid-Stream, Pipeline, and Refining.

Financial Sponsors Group

Private equity firms with committed equity funds focused on middle-market and large-cap leveraged buyouts, going private transactions and other recapitalizations.

Gaming Division
Multiple jurisdiction, public and private gaming companies, Native American casinos and single property gaming enterprises.

Restaurant Finance
National and regional restaurant brands with sales greater than $50 million, large franchisees in established systems, convenience store and gas station owner/operators and landlords with single tenant retail properties.

Equity Funds
Investments in limited partnerships sponsored by private equity firms that are focused either in general corporate investing or specialized sectors such as energy and real estate. Selective investments in direct and co-investment situations sponsored by private equity firms and management teams.

Continued on next page

Our Businesses
Wholesale Banking . . . contd Wells Fargo Shareowner Services


The industrys 3rd largest transfer agent, we serve more than 850 issuers and over 6 million shareowners by facilitating stock transfers, dividend reinvestment and stock purchase plans, corporate actions, and IPOs. Committed to service quality and customer satisfaction, Wells Fargo Shareowner Services has consistently been ranked at the top of the industry by third party surveys, including a #1 ranking for overall client satisfaction for 8 of the past 9 years.

Wells Fargo Equipment Finance, Inc.

2nd largest bank-owned equipment leasing company in the U.S. offering equipment lease and loan products, vendor programs, and wholesale and syndication services to commercial companies nationwide in both the U.S. and Canada. Canadian services provided through affiliate Wells Fargo Equipment Finance Company. WFEFI also manages First Union Rail (FUR), the 4th largest full service rail operating lease company in North America.

Wells Fargo Corporate Trust Services

We provide corporate trust services to the capital markets, including investors, bondholders, and lenders. We offer trustee, agency, fiduciary, escrow, and other financial services to business and government entities. We administer a wide array of assets and programs, including asset and mortgage backed securities and their underlying collateral, municipal bonds, corporate debt, and various warehouse and conduit programs. Securities under administration total $2.4 trillion in unpaid balance. Over 1,800 team members in over 15 offices across the United States and two offices internationally in London and Dublin.

Wells Fargo Securities

Investment banking, sales, trading, research and investing teams deliver a comprehensive set of capital markets products and services to the Wells Fargo customer base, including originating and distributing public debt and equity, hedging interest rates, commodity and equity risks, advising on mergers and acquisitions, and originating structured lending facilities and municipal bonds.

Investment Banking and Capital Markets

Wells Fargo Securities offers a full spectrum of investment banking and capital markets services to customers ranging from large U.S. corporations to middle-market businesses. Equities: Common stock, convertible bonds, share buybacks, equity derivatives, equity private placements Investment Grade Debt: Investment grade bonds, preferred stock, debt private placements liability management High Yield Debt: Non-investment grade bonds, liability management Loan Syndications: Loan syndications, loan sales and trading Advisory: Sell-side M&A, Buy-side M&A, general strategic advisory, spin-offs, equity carve-outs, reverse Morris trusts, defense advisory, fairness opinions, restructuring advisory

Industries covered include: Consumer, Healthcare & Gaming Energy & Power Financial Institutions Industrials Technology, Media & Telecom

Specialty Groups include: Financial Sponsors (dual reporting to Corporate Banking Group) Middle Market

Continued on next page

Our Businesses
Wholesale Banking . . . contd Wells Fargo Securities . . .contd
Asset Backed Finance


Originates structured transactions for corporate clients to hold on balance sheet and for distribution to institutional investors. Customers include finance companies, leasing companies, asset managers and other originators or holders of pools of financial assets. Underlying assets include residential and commercial mortgages, auto, student and corporate loans, credit card receivables, commercial assets for corporate clients and bank-originated products.

Equities Sales & Trading

Responsible for the distribution and trading of securities to support our clients who are raising equity in the capital markets and for our investing clients who are sourcing equities for their investment needs. Common stock Preferred stock Convertible bonds Share buybacks Equity derivatives Equity private placements

Fixed Income Sales & Trading

Responsible for the distribution and trading of securities to support our issuing clients who are raising debt in the capital markets and our investing clients who are sourcing bonds for their investment needs. Also offers asset-liability analysis, portfolio strategy and analytics to institutional investors, and provides risk management products to corporate, retail and institutional clients

High Grade Sales & Trading: Responsible for the distribution of high grade corporate debt and preferred stock to large institutional clients. High Yield Sales & Trading: Responsible for the distribution of high yield corporate debt to large institutional clients. Asset Backed Finance Sales & Trading: Delivers a broad range of structured assets, including MBS, ABS and CMBS to large institutional clients. Generalist Fixed Income Sales: Provides all cash Fixed Income products to short duration buyers and larger institutional accounts that do not require specialist coverage. Middle Market Fixed Income Sales: Delivers cash Fixed Income products and related portfolio services to middle market financial institutions and customers of the Wholesale Bank. Interest Rate Risk Management: Provides corporate, commercial, institutional and high-net worth individuals with interest rate hedging solutions through capabilities in swaps and options. Commodities: Provides hedging solutions to producers and consumers of energy, electricity (power), metals, agricultural, physical natural gas and physical natural gas liquid commodities.

Investment Solutions
Provides corporate, institutional and high net worth investors with investment alternatives that offer a broad range of strategies and objectives. Investments can be structured to gain access to markets, limit downside risk or enhance yield.

Municipal Products
Working in tandem with the Government and Institutional Banking Group, this team provides comprehensive financial solutions to federal, state and local governments, education, non-profit institutions, not-for-profit healthcare and other tax-exempt entities. Public Finance Investment Banking: Provides investment banking, capital markets and credit solutions for issuer clients. Sales, Trading & Syndicate: Provides cash trading, institutional sales and underwriting solutions for issuer and investor clients.

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Our Businesses
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Research & Economics


Adds value to both fixed income and equity investors by publishing research and economic reports, generating investment ideas and by physically bringing investors and issuers together in conferences, field trips and other forums.
Wells Fargo Securities is the trade name for certain capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Securities, LLC, a member of NYSE, FINRA and SIPC, Wells Fargo Institutional Securities, LLC, a member of FINRA and SIPC, and Wells Fargo Bank, National Association. Wells Fargo Securities, LLC carries and provides clearing services for Wells Fargo Institutional Securities, LLC customer accounts.


Not FDIC Insured

May Lose Value

No Bank Guarantee

Wells Fargo Capital Finance

Provides asset-based financing, specialized senior secured and junior secured financing, accounts receivable financing, purchase order financing, and supply chain financing to companies in a wide range of industries across the U.S. and Canada. In addition, specialty groups within Wells Fargo Capital Finance develop financing tailored to retailers, software and technology companies, commercial finance companies, staffing companies, government contractors, and timeshare developers.

Business Credit
Asset-based financing from $3 million to $30 million for middle-market companies in a variety of industries, including manufacturing, distribution, wholesale, and service.

Business Finance
Agented and syndicated asset-based financing starting at $30 million for companies in a variety of industries, including manufacturing, wholesale and distribution, and service companies.

Distribution Finance
Working capital financing starting at $500,000 for the purchase of technology products and services by value-added resellers from technology OEMs and distributors.

Government Services Group

Accounts receivable financing for government contractors across the U.S that serve federal, state and municipal governments and their agencies nationwide and have annual revenue of $3 million to $500 million and more.

Lender Finance
Senior secured financing starting at $20 million for specialty commercial finance companies, including asset-based lenders, factors, equipment leasing providers, insurance premium finance companies, and other types of specialty finance companies.

Purchase Order Finance Group

Inventory financing including letters of credit and transactional credit lines ranging from $500,000-$50+ million for importers and manufacturers.

Receivables Funding Group

Accounts receivable financing for businesses with annual revenue of $3 million to $1 billion or more in a variety of industries, including manufacturing, distribution, wholesale, trucking and transportation, seafood, and service-based companies.

Receivables Securitization Group

Non-recourse accounts receivable-based securitizations both on- and off-balance sheet starting at $30 million to bankruptcyremote subsidiaries of companies in a variety of industries, such as manufacturing, distribution, wholesale and service companies.

Resort Finance
Financing of timeshare receivables from $20 million to $100 million.

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Wells Fargo Capital Finance . . . contd
Retail Finance


Senior secured financing ranging from $10 million to $1 billion and more for large and middle-market retailers, from traditional brick-and-mortar storefronts to catalog and online operations.

Retail Junior Capital

Junior secured financing from $5 million to $100 million for large and middle-market retailers.

Specialty Finance
Financing starting at $20 million for companies in a wide variety of industries, including gaming, restaurant, healthcare, and media and communications.

Staffing Services Group

Accounts receivable financing for staffing companies across the U.S. with annual revenue of $1 million to $500 million or more.

Supply Chain Finance

Comprehensive, end-to-end supply chain financing for both corporations and their trading partners through sales finance and supplier finance programs.

Technology Finance
Senior-secured financing starting at $15 million for software and technology companies.

Trade Capital
Trade finance including factoring, asset-based financing, inventory financing, and letters of credit for companies in the U.S. and abroad that serve the retail and consumer marketplace and have annual sales starting at $10 million.

Transportation Services
Accounts receivable financing for trucking and transportation companies as well as logistics providers across the U.S. with annual revenue of $1 million to $50 million or more.
Wells Fargo Capital Finance is the trade name for certain asset-based lending, accounts receivable and purchase order finance services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Bank, N.A.; Wells Fargo Business Credit, a division of Wells Fargo Bank, N.A.; Wells Fargo Credit, Inc.; Wells Fargo Distribution Finance, LLC; Wells Fargo Capital Finance, Inc.; Wells Fargo Capital Finance, LLC; Wells Fargo Retail Finance, LLC; Wells Fargo Retail Finance II, LLC; Wells Fargo Trade Capital, LLC; Wells Fargo Trade Capital Services, Inc.; and Wells Fargo Capital Finance Corporation Canada. Wells Fargo Capital Finance Corporation Canada (also doing business in Quebec as Socit de financement Wells Fargo Capital Canada) is an affiliate of Wells Fargo & Company, a company that is not regulated in Canada as a financial institution, a bank holding company or an insurance company.

Asset Management Group

Wells Fargos Asset Management Group manages assets for institutional and retail clients. It includes Wells Fargo Funds Management, LLC, and several affiliated asset managers.

Wells Fargo Funds Management

An investment advisor that helps institutions, financial advisors, and individuals reach their financial objectives through a variety of vehicles, including mutual funds, 529 plans, and separately managed accounts. The firms Wells Fargo Advantage Funds one of the nations largest mutual fund companies based on assetscovers a broad spectrum of investment styles and asset classes.

Wells Capital Management

A multi-boutique asset management firm focused on institutional clients. Its distinct, autonomous, and independent investment management teams offer an extensive list of actively-managed U.S. and global equity, fixed-income, and quantitative strategies that span the risk-reward spectrum.

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Asset Management Group . . . contd
Affiliated Managers


Several affiliated firms with expertise in various asset classes and investment strategies, including European Credit Management (European fixed-income), Galliard Capital Management (stable value and core fixed-income), Nelson Capital Management (socially responsible investments), Overland Advisors (multi-strategy relative value), Peregrine Capital Management (U.S. equities), agency and custodial securities lending, and a minority interest in Golden Capital Management (U.S. core equity).
Wells Fargo Funds Management, LLC, provides investment advisory and administrative services for Wells Fargo Advantage Funds, Wells Fargo Managed Account Services, and 529 plans. The Funds and shares in the 529 plans are distributed by Wells Fargo Funds Distributor, LLC, member FINRA/SIPC, an affiliate of Wells Fargo & Company.

Investment Products:

Not FDIC Insured

NO Bank Guarantee

MAY Lose Value

Wells Fargo International Group

Connects Wells Fargos customers to the world and links the world to Wells Fargo for financial services, using our deep foreign and domestic networks to help meet customers financial service needs; covers the international needs of consumers, small businesses, middle market companies, banks, and large institutions. We are one of the largest providers of foreign exchange services and trade processing services and have an extensive global reach with over 30 overseas offices, including 8 branches.

Foreign Exchange
Foreign exchange and risk management services for commercial companies, small businesses, and correspondent banks

International Treasury Management

International cash management solutions integrated with domestic treasury services

Global Financial Institutions

Provides correspondent banking services to financial institutions, multilaterals and international agencies worldwide

International Credit Products

Delivers a broad range of specialized credit products including origination, structuring, mitigation, portfolio and management and loan servicing

Global Payment Services

Provides a suite of USD and multicurrency payment collection and depository services including a growing array of online and mobile solutions

Global Trade Services

Provides a set of services designed to expedite letter of credit and collection processes; also offers private label outsourcing services to U.S. and foreign banks

International Personal Banking

U.S. dollar banking services for U.S. citizens living abroad and foreign nationals living in the U.S. with specialized programs to help non U.S. citizens establish credit

Wells Fargo Bank International

A subsidiary of Wells Fargo & Company based in Dublin, Ireland. Provides banking and financial services such as deposits, lending and corporate trust services to commercial banks and corporate customers across 30+ European countries.

2011 Wells Fargo Bank, N.A., All rights reserved. Member FDIC.