RESOLVED: Shareholders urge the Board of Directors of Wells Fargo & Company (?Wells Fargo?) to commission and oversee an independent, third-party assessment of Wells Fargo?s respect for the internationally recognized human rights of freedom of association and collective bargaining. The assessment, prepared at reasonable cost and omitting legally privileged, confidential, or proprietary information, should be publicly disclosed on Wells Fargo?s website. SUPPORTING STATEMENT Freedom of association and collective bargaining are internationally recognized human rights according to the International Labour Organization?s Declaration on Fundamental Principles and Rights at Work and the United Nations? Universal Declaration of Human Rights. However, Wells Fargo?s Human Rights Statement,1 Code of Conduct,2 and Supplier Code of Conduct3 are silent on Wells Fargo?s obligations to respect these internationally recognized human rights. In February 2022, Wells Fargo published ?Priority Recommendations of the Wells Fargo Human Rights Impact Assessment and Actions in Response? that summarized a human rights impact assessment performed by a third-party law firm. The recommendations stated ?Wells Fargo should consider prioritizing the issuance of a comprehensive human rights policy and providing training to the bank?s leadership and senior management.?4 In 2022, Wells Fargo CEO Charles Scharf told Congress that Wells Fargo would not commit to remain neutral if Wells Fargo?s employees seek to unionize.5 A 2023 Wells Fargo internal presentation revealed that management has been tracking employees? union organizing efforts.6 In 2023, Wells Fargo agreed to settle two unfair labor practice charges alleging that Wells Fargo had violated its employees? rights.7 Despite Wells Fargo?s alleged union avoidance tactics, Wells Fargo workers at 20 Wells Fargo branches have recently voted to form a union.8 This resolution may help address human rights risks at Wells Fargo?s operations in other countries. Wells Fargo?s largest international operations are in India and the Philippines. The 2024 ITUC Global Rights Index rated India and the Philippines as countries with no guarantee of rights, explaining that such countries are ?the worst countries in the world to work in. While the legislation may spell out certain rights, workers have effectively no access to these rights and are therefore exposed to autocratic regimes and unfair labour practices.?9 For these reasons, we urge you to vote FOR this proposal. 1  https://www08.wellsfargomedia.com/assets/pdf/about/corporate-responsibility/human-rights-statement.pdf 2 https://www.wellsfargo.com/assets/pdf/about/corporate/code-of-conduct.pdf 3  https://www08.wellsfargomedia.com/assets/pdf/about/corporate/supplier-code-of-conduct.pdf 4 https://www08.wellsfargomedia.com/assets/pdf/about/corporate-responsibility/human-rights-impact-assessment.pdf. 5?Wells Fargo to Beef Up Labor Relations Staff Amid Union Campaign,? Bloomberg Law, June 26, 2023, https://news.bloomberglaw.com/banking-law/wells-fargo-to-beef-up-labor-relations-staff-amid-union-campaign. 6 ?Wells Fargo Privately Worries Union ?Resurgence? Could Reach Its Workers Next,? Bloomberg, April 17, 2023, https://www.bloomberg.com/news/articles/2023-04-17/wells-fargo-privately-worries-union-resurgence-could-reach-its- workers-next. 7 ?Wells Fargo Settles Second Complaint Over Union Intimidation,? Bloomberg Law, December 1, 2023, https://news.bloomberglaw.com/banking-law/wells-fargo-settles-second-complaint-over-union-intimidation. 8 ?Union Drive at Wells Fargo Heats Up as Employees Allege Intimidation Tactics,? Los Angeles Times, October 17, 2024, https://www.latimes.com/business/story/2024-10-17/union-drive-at-wells-fargo-heats-up-as-employees-allege-intimidation- tactics; ?Wells Fargo Workers Claim Layoffs Sought to Disrupt Union Effort,? Bloomberg Law, October 11, 2024, https://news.bloomberglaw.com/banking-law/wells-fargo-workers-claim-layoffs-sought-to-disrupt-union-effort. 9 2024 ITUC Global Rights Index, International Trade Union Confederation, 2024, https://www.ituc- csi.org/IMG/pdf/2024_ituc_global_rights_index_en.pdf.