On March 17, 2026, Wells Fargo & Company filed a Certificate Eliminating the Certificate of Designation for its 3.90% Fixed Rate Reset Non-Cumulative Perpetual Class A Preferred Stock, Series BB. This action, effective immediately upon filing, removes all provisions related to the Series BB Preferred from the company's Restated Certificate of Incorporation. The decision follows the redemption of all 140,400 outstanding shares of the Series BB Preferred Stock on March 15, 2026. The elimination of this designation is part of Wells Fargo's ongoing efforts to streamline its capital structure and enhance shareholder value. The company continues to maintain a robust portfolio of other preferred stock classes, ensuring flexibility in its capital management strategy. This move is not expected to have a significant impact on the company's liquidity or financial position, as it reflects a strategic decision rather than a response to immediate financial pressures.

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