Wells Fargo and T.D. Jakes Group Announce Ten-Year Strategic Partnership to Build Inclusive Communities

The partnership heralds the beginning of a new era in driving long-term transformative change over the next decade, making a profound and lasting impact. With the goal of revitalizing neighborhoods, creating long-term change, and fostering economic opportunities in the communities that need it the most, this strategic partnership between the Wells Fargo Foundation, TDJakes Enterprises, TDJakes Ventures, TDJakes Real Estate Group, and TDJakes Company could result in up to $1 billion in financing and capital over the next 10 years. Today, the TDJakes Foundation and TDJakes Enterprises, in collaboration with Wells Fargo, announced this groundbreaking partnership, aimed at driving economic vitality and inclusivity in communities across America.

We are excited to collaborate with T.D. Jakes Group as they play a key role in the transformation of communities, ensuring that we make a meaningful difference together across countries. This strategic partnership goes beyond a one-time capital investment, highlighting our continued commitment to inclusive and diverse communities. Wells Fargo CEO, Charlie Scharf, stated, “We are thrilled to join forces with T.D. Jakes Group and contribute to the lasting impact they will have on the transformation of communities for generations to come.”

“We need to recognize the need for CEOs like Charlie Scharf, who can bring about a long overdue transformation in our nation by creating a paradigm shift. We are committed to ensuring additional opportunities reach marginalized groups and communities, particularly Brown and Black. As CEO and Chairman of the Jakes T.D. Group, I remarked that we can have a disruptive influence and make a collective effort to correct systemic inequalities. This allows our organization to work further towards our four-decade-long goal of leaving a lasting and prosperous legacy for the next generation, helping families, closing the digital divide, constructing affordable and desirable workplaces, eradicating food deserts, and providing economic justice.”

TDJREV has begun purchasing nearly 100 acres of the historic Fort McPherson property with the vision of aiding in the revitalization of the district’s Cultural and Business Historic areas. The goal is to develop an inclusive neighborhood with ample green space, equipped with a bike path and recreational centers. Wells Fargo intends to be a financial partner in this project, supporting the development of an innovative community that includes mixed-income housing options such as apartments, townhomes, and single-family homes. The aim is to enhance the quality of life by offering wraparound services, healthcare choices, and healthy food options. With plans to create well-designed neighborhoods with ample amenities, this land is strategically positioned near downtown Atlanta, creating a desirable residential and commercial space.

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The T.D. Jakes Foundation and the Wells Fargo Foundation also expect to provide financial empowerment education and revitalize underserved neighborhoods, increasing homeownership and fostering business creation in several cities, including Dallas, Chicago, and Atlanta.

There is a link for individuals or those who wish to virtually attend the media registration press for the Florida Orlando Leadership Summit in May, where T.D. Jakes will join Charlie Scharf on stage to have a unique conversation about other topics and their partnership.

Wells Fargo – A Creator of Communities.

From 2019 to 2022, Wells Fargo has contributed over $525 million to support solutions that make housing more affordable for individuals and families.- By the end of 2021, all 13* institutions had received their investment.- Additionally, the Company offers investments in LIHTC and holds a portfolio of approximately 1500 transactions valued at $12.2 billion.- Moreover, in March 2020, the Company made a $50 million investment in Minority Depository Institutions (MDI’s), providing advisory services to help these crucial local institutions thrive.- Over the past two years (2021 and 2022), the Company has closed $10 billion in financing through its Community Lending and Investment (CLI) group and $5.7 billion in financing through its Multifamily Capital (MFC) group, specifically targeting affordable housing and community development.- Since 2016, the Company has been the leading Fannie Mae DUS® Affordable Housing Lender.- Wells Fargo has played a significant role in the advancement and investment in affordable housing nationwide.

*13 MDIs have been released.

Regarding Wells Fargo.

We focus on building a sustainable and inclusive future by supporting the economy, low-carbon initiatives, and the health and financial growth of small businesses. Our company serves communities with a social impact, prioritizing the affordability of housing. We provide a diversified set of commercial and consumer financial services and products, including mortgage and investment banking. Through our four reportable segments – Investment Management & Wealth, Corporate Investment Banking, Commercial Banking, and Consumer Banking – we are a leading provider in the middle banking market in the U.S. We proudly serve more than 10% of small businesses and households in the U.S., And our financial services company, Wells Fargo & Company (NYSE: WFC), has approximately $1.9 trillion in assets. In Fortune’s 2022 rankings of America’s largest corporations, Wells Fargo was ranked No. 41.

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News, knowledge, and viewpoints from Wells Fargo are also accessible at Wells Fargo Stories.

Further details can be found at www.Wellsfargo.Com | Twitter: @WellsFargo.

About The T.D. Jakes Organization.

Ministries Jakes T.D. Is an international faith-based organization whose work has helped create sustainable communities by actively developing economic development, eradicating food deserts, and opening doors to home ownership, with a focus on building wealth for individuals returning from citizen advocacy work. They have translated their inspiring content into over 90 languages each week. Ventures Estate Real Jakes T.D. Is their organization that focuses on bridging the racial wealth gap and supporting minority women in corporate leadership, as well as providing financial literacy education and workforce training in STEAM/STEM fields to prepare workers to compete in today’s global economy. Foundation Jakes T.D. Unlocks the power of competition by building bridges and preparing workers for the global workforce through training and provides original entertainment content worldwide, grossing over $500 million in publishing, music, film, and unscripted streaming series. Enterprises Jakes T.D. Is a social impact company that reaches millions through their minority business accelerator training initiatives and trailblazing representation in unscripted streaming series, as well as their award-winning civil rights and social impact rights. Group Jakes T.D. Is a global conglomerate that has worked at the intersection of marketplace and ministry mission for over four decades, providing equity and creating strategic alliances to solve society’s problems.

Discover how the T.D. Jakes Group is fostering a fairer society through groundbreaking ideas and transformative collaborations by visiting tdjakes.Org/newsroom.

Warning About Anticipated Statements.

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This release contains statements about our future business. These statements are based on our current assumptions and expectations regarding the future, but they are subject to uncertainties and inherent risks. It is important not to rely too heavily on these forward-looking statements, as actual results may differ materially. These statements only speak as of the date they were made, and we do not undertake to update them to reflect any changes that may occur after that date. For information about factors that could cause actual results to differ materially, please refer to our reports filed with the Securities and Exchange Commission, which are available on our website at www.Sec.Gov. These reports, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 2021, have been filed with the Securities and Exchange Commission.

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