Continued strong financial results:
Net income of $5.6 billion, compared with $5.8 billion in third quarter 2015
Diluted earnings per share (EPS) of $1.03, compared with $1.05
Revenue of $22.3 billion, up 2 percent
Pre-tax pre-provision profit1 of $9.1 billion, compared with $9.5 billion
Return on assets of 1.17 percent and return on equity of 11.60 percent
Strong growth in loans and deposits:
Total average loans of $957.5 billion, up $62.4 billion, or 7 percent, from third quarter 2015
Total average deposits of $1.3 trillion, up $62.7 billion, or 5 percent
Solid credit quality:
Net charge-offs of $805 million, up $102 million from third quarter 2015
Net charge-offs were 0.33 percent of average loans (annualized), up from 0.31 percent
Nonaccrual loans down $551 million, or 5 percent
No reserve build2 or release, consistent with third quarter 2015
Maintained strong capital levels while continuing to return capital to shareholders:
Common Equity Tier 1 ratio (fully phased-in) of 10.7 percent3
Period-end common shares outstanding down 24.6 million from second quarter 2016
1 Pre-tax pre-provision profit (PTPP) is total revenue less noninterest expense. Management believes that PTPP is a useful financial measure
because it enables investors and others to assess the Company's ability to generate capital to cover credit losses through a credit cycle.
2 Reserve build represents the amount by which the provision for credit losses exceeds net charge-offs, while reserve release represents the
amount by which net charge-offs exceed the provision for credit losses.
3 See table on page 36 for more information on Common Equity Tier 1. Common Equity Tier 1 (fully phased-in) is a preliminary estimate and is
calculated assuming the full phase-in of the Basel III capital rules.

Sales Practices Settlements4
On September 8, 2016, Wells Fargo & Company (NYSE:WFC) reached agreements with the Consumer Financial
Protection Bureau, the Office of the Comptroller of the Currency, and the Office of the Los Angeles City Attorney,
regarding allegations that some of its retail customers received products and services they did not request. The
amount of the settlements, which the Company had fully accrued for as of June 30, 2016, totaled $185 million, plus
$5 million in customer remediation. Key actions are being taken to ensure the Company's culture is wholly aligned
with the interests of customers including:
• Eliminated product sales goals for retail banking team members as of October 1, 2016;
• Implemented procedures to send customers a confirmation email approximately an hour after opening any
deposit account and an acknowledgement letter after submitting a credit card application;
• Attempting to contact all retail and small business deposit customers across the country, including those who
have already received refunded fees, to invite them to review their accounts with their banker. Also contacting
credit card customers identified as possibly having unauthorized accounts to confirm whether they need or
want their credit card;
• Expanding the scope of our customer account review and remediation to include 2009 and 2010;
• The Independent Directors of the Board have launched an investigation into the Company’s retail banking sales
practices and related matters
Independent Directors have retained the Shearman & Sterling law firm to assist in the investigation
John Stumpf forfeited unvested equity awards valued at approximately $41 million
Carrie Tolstedt has left the Company; will receive no severance; has forfeited unvested equity awards
valued at approximately $19 million; will not exercise outstanding options during investigation
Neither executive will receive a bonus for 2016
Executive Leadership Changes
On October 12, 2016, former Chairman and CEO John Stumpf retired from the Company after 34 years of service.
The Board elected Tim Sloan, the Company’s President and Chief Operating Officer, to succeed him as CEO, and
Stephen Sanger, its Lead Director, to serve as the Board’s non-executive Chairman, and independent director
Elizabeth Duke to serve as Vice Chair. Sloan also was elected to the Board.
President and CEO Tim Sloan said, "I am deeply committed to restoring the trust of all of our stakeholders,
including our customers, shareholders, and community partners. We know that it will take time and a lot of hard
work to earn back our reputation, but I am confident because of the incredible caliber of our team members. We will
work tirelessly to build a stronger and better Wells Fargo for generations to come.”
Financial Results
Wells Fargo & Company (NYSE:WFC) reported net income of $5.6 billion, or $1.03 per diluted common share, for
third quarter 2016, compared with $5.8 billion, or $1.05 per share, for third quarter 2015, and $5.6 billion, or
$1.01 per share, for second quarter 2016.

4 Additional information is provided in our 3Q16 Quarterly Supplement.

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