Wells Fargo Closes Acquisition of BNP Paribas’ North American Reserved-Based and Related Diversified Energy Lending Business

  Wells Fargo Closes Acquisition of BNP Paribas’ North American Reserved-Based
  and Related Diversified Energy Lending Business

Business Wire

SAN FRANCISCO -- April 24, 2012

Wells Fargo Bank, part of Wells Fargo & Company (NYSE: WFC), today announced
that it has closed the acquisition of the North American reserved-based and
related diversified energy lending business of BNP Paribas (BNP.PA).

Kyle Hranicky, executive vice president and manager of the Wells Fargo Energy
Group. (Photo: Busines ...

Kyle Hranicky, executive vice president and manager of the Wells Fargo Energy
Group. (Photo: Business Wire)

As a result of the transaction, Wells Fargo adds to its already strong
presence in the energy industry, with approximately $9.4 billion of loan
commitments, $3.5 billion in loans outstanding at closing, and approximately
$300 million of additional financing commitments over the next 60 days. The
combined Wells Fargo Energy Group business has more than $30 billion in loan
commitments and $11 billion in outstandings. In addition, nearly all of BNP
Paribas’ Houston- and Calgary-based employees associated with this energy
lending business joined Wells Fargo.

“This acquisition significantly expands our client base, loan portfolio and
presence in the industry,” said Kyle Hranicky, executive vice president and
head of the Houston-based Wells Fargo Energy Group. “We’re very excited that
so many talented, experienced people are joining Wells Fargo, and I know that
this will result in even greater value for our customers.”

Bart Schouest, who was head of BNP Paribas’ North American Oil & Gas lending
business, assumes the role of deputy group head of Wells Fargo Energy Group
reporting to Hranicky. Schouest will have direct oversight of the Oil & Gas
Division and the Large Corporate Energy Division. He has more than 30 years
experience in banking, including 25 years in energy lending.

“The expanded Wells Fargo Energy Group will allow us to bring a diverse
product platform to an even broader set of customers,” said Schouest. “This
provides us a tremendous opportunity to expand relationships and value with
both Wells Fargo and former BNP Paribas customers, while we continue to earn
our place as the premier financial services provider to the energy industry.”

About Wells Fargo Energy Group

Headquartered in Houston, Texas, the Wells Fargo Energy Group is an energy
finance leader providing integrated financial solutions to public and private
companies across the upstream, midstream, downstream, and services sectors.
With more than 30 years of experience in the energy industry, the Wells Fargo
Energy Group delivers comprehensive debt, advisory, capital markets, and
traditional banking solutions to companies of all sizes and in all stages of
development. For more about Wells Fargo and energy lending, visit
www.wellsfargo.com/com/industry/energy.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified,
community-based financial services company with $1.3 trillion in assets.
Founded in 1852 and headquartered in San Francisco, Wells Fargo provides
banking, insurance, investments, mortgage, and consumer and commercial finance
through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com),
and other distribution channels across North America and internationally. With
more than 272,000 team members, Wells Fargo serves one in three households in
America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of
America’s largest corporations. Wells Fargo’s vision is to satisfy all our
customers’ financial needs and help them succeed financially.

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Contact:

Wells Fargo
Alan Elias, 415-947-3994 (Media)
alan.elias@wellsfargo.com
or
Jim Rowe, 415-396-8216 (Investors)
jim.rowe@wellsfargo.com