Market Overview

Wells Fargo Contributes $250,000 for New York Area Housing, Revitalization Efforts

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Local NeighborhoodLIFT grants, down payment assistance will help
create about 350 homeowners

Wells Fargo & Company (NYSE:WFC) today announced a total of $250,000 in
donations for three local nonprofits to support affordable and safe
housing, small business empowerment and health and wellness in the New
York area.

"We are passionate about helping individuals, families and communities
achieve their goals," said Fred Bertoldo, Wells Fargo region bank
president. "The local initiative grants will help provide affordable and
safe housing, provide small businesses with valuable resources and make
healthy food options more available to New York area residents. We are
excited to see progress in these areas, and we will continue to work
together to make lasting change for the better."

The Wells Fargo grants are intended to support neighborhood
revitalization efforts through the Wells Fargo NeighborhoodLIFT®
program from the Wells Fargo Foundation.

Wells Fargo NeighborhoodLIFT program local initiative grants will be
awarded to the following New York area nonprofits:

  • ACCION will receive $50,000 for the New York area Small
    Business Financial Education Program to empower 200 businesses with
    technical assistance and counseling. ACCION staff will work with
    clients to manage cash flow, understand credit, build a strong funding
    request and achieve financial self-sufficiency. ACCION partners with
    governments, local banks and community organizations to design and
    conduct free workshops and webinars on the topics of access to
    capital, social media, marketing and more — offering numerous
    innovative mentorship programs in partnership with corporate partners.
    Topics are based on client interests, and the events provide both
    educational value and a network of peers in particular business spaces
    and industries.
  • Active Citizen Project INC will receive $100,000 for Project
    EATS (PE) to operate a network of 12 community-based farms in
    Brooklyn, Manhattan, Queens and Staten Island. The farms provide
    low-income individuals and families fresh, nutritious, organically
    grown food at income-appropriate prices in their communities; health
    and nutritional programs that increase their consumption of healthy
    food and physical fitness; and farm skills and experience that can
    lead to job and career opportunities. In addition to the farms, PE
    programs increase the ability of residents to create, lead and
    implement practical solutions in their communities that support their
    wellbeing and ability to thrive. The grant funds will make it possible
    for Active Citizen Project to acquire and operate two four-season
    greenhouses to grow and distribute more food to people living on low
    incomes, as well as provide them with year-round programming.
  • Rebuilding Together NYC will receive $100,000 to perform
    critical repairs and accessibility modifications to five homes in the
    Brownsville neighborhood of Brooklyn. For elderly and aging residents,
    navigating their own homes safely and independently becomes more
    challenging the longer repairs and accessibility upgrades are
    deferred. Without proper maintenance, individuals are often forced to
    move into assisted living facilities, which is costly to the person
    and to tax-payers. In addition, in an effort to generate supplemental
    income, many homeowners will rent out units in their property, so the
    condition of those units must be livable so no income is lost and an
    affordable housing option is not lost. In addition to executing the
    work at these homes, Rebuilding Together NYC provides healthy home
    maintenance training to each homeowner served in the interest of
    preventing expensive repair needs in the future and supporting the
    owner's ability to maintain and stay in the home and community
    long-term.

About 350 homeowners to be assisted in the New York area

The NeighborhoodLIFT program local initiative grants are part of an
effort expanded to the New York City area in November 2017 with a $8.3
million commitment by Wells Fargo to boost local homeownership and
revitalize neighborhoods. The NeighborhoodLIFT program has assisted 138
homeowners in the area by offering homebuyer education plus $20,000 down
payment assistance grants, with more on the path to becoming homeowners
through the program in collaboration with NeighborWorks®
America and its network member, Community Housing Development
Corporation.

"This is a great opportunity to make a positive difference for our
residents and future generations," said Deborah Smith, Community Affairs
manager, Wells Fargo Foundation. "These funds will be utilized to meet
important needs in our communities, improving lives for so many. Our
focus is, and will remain, on lifting up our residents."

Since February 2012, LIFT programs have helped create more than 17,900
homeowners in 60 communities. A video about the NeighborhoodLIFT program
is posted on Wells
Fargo Stories
.

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo's
vision is to satisfy our customers' financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investments, mortgage, and consumer and
commercial finance through 8,050 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 38 countries and
territories to support customers who conduct business in the global
economy. With approximately 265,000 team members, Wells Fargo serves one
in three households in the United States. Wells Fargo & Company was
ranked No. 26 on Fortune's 2018 rankings of America's largest
corporations. News, insights and perspectives from Wells Fargo are also
available at Wells
Fargo Stories
.

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