20250805_7_Banking and Procurement Card Services — Laguna Niguel City Council, August 5, 2025

To:

CITY OF LAGUNA NIGUEL

CITY COUNCIL AGENDA ITEM
FROM:

Honorable Mayor and Council Members
Trevor Agrelius, Finance Director
August 5, 2025 DATE:

SUBJECT: Award of Professional Services Agreement for Banking and Procurement Card Services with Wells Fargo Bank

RECOMMENDATION
Staff recommends that the City Council:

1. Award the Professional Services Agreement for Banking and Procurement Card Services with Wells Fargo Bank for a five-year term with the option to renew for an additional five years, and five one-year optional extensions beyond that for a maximum total of fifteen years.

2. Authorize the City Manager to execute the Professional Services Agreement, and subsequent Standard Agreements with Wells Fargo Bank, subject to approval by the City Attorney.

3. Authorize the City Manager to make future amendments to the agreements for Banking and Procurement Card Services with Wells Fargo Bank, subject to the City Attorney making non-substantive changes.

BACKGROUND
The City of Laguna Niguel has been with its existing banking services provider since 1995.

As a best practice, the Government Finance Officers Association (GFOA) recommends that government agencies review their financial services contracts and use a competitive process for the procurement of financial services. The competitive bidding process provides the City with the opportunity to obtain competitive market rates and negotiate fair terms, conditions, and service enhancements.

On February 7, 2025, the City issued a Request for Proposals (RFP) for Banking and Procurement Card Services. Issuing an RFP for Banking and Procurement Card Services supports multiple strategies identified in Goal 2, Fiscal Sustainability of the City Council's adopted strategic plan.

ANALYSIS
The goal of the RFP was to establish a strong partnership with a qualified banking institution in alignment with the City's long-term goals and objectives, providing banking, investment, and procurement card services. As part of the RFP process, banking institutions were required to provide a detailed overview of the bank's operations, fundamental management, banking and investment services offered, online card management processes, payment processing, customer service philosophy, and an explanation of how the bank's services can align with and enhance the City's existing service levels.

In response to the RFP, the City received three proposals from banking institutions.

Proposals were evaluated based on the criteria outlined in the RFP, which include the bank's financial strength and ability to protect and collateralize City deposits, rate structure, required service levels, experience with other public sector clients, and the qualifications and strengths of the relationship management team. Additionally, each proposer was invited to City Hall to participate in an in-person interview with City staff.

Ranking Banking Institution
1 Wells Fargo Bank (Recommended)
2 J.P. Morgan Chase Bank
3 U.S. Bank
After thoroughly reviewing the proposals received and based on all relevant factors, staff believes that Wells Fargo Bank represents the best overall proposal for the City's needs.

Wells Fargo Bank has been a trusted provider of banking services to over 3,000 government clients nationwide, including the following local agencies: the County of Orange, City of Orange, and Moulton Niguel Water District. Wells Fargo Bank's qualifications, extensive local government banking services experience, and alignment with the City's financial objectives and priorities make them well-suited to administer the City's banking services.

Wells Fargo Bank offers a competitive range of procurement cards and virtual payment services that align with the City's strategic plan goal of implementing efficiencies in City payments. As a result, the City will reduce accounts payable costs, increase payment security, and generate a higher rebate on its procurement card purchases. Additionally, Wells Fargo Bank Treasury Management Services will enable the City to consolidate all investment services, resulting in higher yields on investment returns and eliminating third party management costs.

ALTERNATIVES CONSIDERED
The City Council may direct staff to reject all proposals and rebid the RFP for Banking and Procurement Card Services. Staff believes rebidding the RFP will not result in more desirable bids and will delay implementation.

FISCAL REVIEW
Funding for this agreement has been included in the Fiscal Years 2025-2027 budget.

Wells Fargo Bank offers competitive rates for banking services aligned with the current financial services market, which will be locked in for the five-year agreement. Additionally, Wells Fargo Bank has included transition credits in the proposal that will offset a portion of the banking fees in the first year of the agreement. Lastly, Wells Fargo Bank does not charge a fee for safekeeping services, so the City will save approximately $12,000 annually without reducing the level of service provided.

LEGAL REVIEW
The City Attorney's Office has reviewed this report and agreement and has approved both as to form.

CONCLUSION

1. Authorize the City Manager to execute the Professional Services Agreement, and subsequent Standard Agreements with Wells Fargo Bank, subject to approval by the City Attorney.

2. Authorize the City Manager to make future amendments to the agreements for Banking and Procurement Card Services with Wells Fargo Bank, subject to the City Attorney making non-substantive changes.
~~
Tamara S. Letourneau
City Manager
~~~
Trevor Agrelius
Finance Director
Attachments :

Scott C. Smith
City Attorney
~x. o~ -
Kevin X. O'Connor
Assistant to the City Manager
A. Professional Services Agreement for Banking and Procurement Card Services with Wells Fargo Bank

ATTACHMENT A
Prof~ssional Services Agreement for Banking and Procurement Card Services with Wells Fargo

AGREEMENT FOR PROFESSIONAL SERVICES

BETWEEN CITY OF LAGUNA NIGUEL AND
WELLS FARGO BANK, N.A.

THIS AGREEMENT FOR PROFESSIONAL SERVICES ("Agreement") is made and entered into _ ______ , 2025 by and between CITY OF LAGUNA NIGUEL, a California municipal corporation ("City") and WELLS FARGO BANK, N.A., a national banking association ("Consultant"). City and Consultant may be referred to individually as "Party" or collectively as "Parties." In consideration of the mutual promises and covenants made by the Parties and contained herein and other consideration, the value and adequacy of which are hereby acknowledged, the Parties agree as follows:

ARTICLE 1. SERVICES OF CONSUL TANT

1.1 Scope of Services. In compliance with all terms and conditions of this Agreement, Consultant shall provide those services specified in the "Scope of Services" attached hereto as Exhibit 8 and incorporated herein by this reference, which may be referred to herein as the "services" or "work" hereunder. Notwithstanding any disclaimer of warranties in Consultant's Service Descriptions, as defined below, for the services, Consultant warrants that the services will be performed in a professional and workmanlike manner in accordance with standards that do not vary unreasonably from the general standards followed by similarly situated banks.

1.2 Consultant's Proposal and City's RFP. Consultant's proposal or bid for this Agreement ("Consultant's Proposal"), dated March 14, 2025, which includes Consultant's service descriptions for the services ("Service Descriptions") shall be incorporated herein by this reference as though fully set forth herein. City circulated a Request for Proposals for the services provided for herein on February 7, 2025. City's Request for Proposals ("City's RFP"), which was responded to by Consultant 's Proposal, shall be incorporated herein by this reference as though fully set forth herein. The Scope of Services shall include the scope of services or work included both in Consultant's Proposal as well as in City's RFP.

1.3 Compliance with Law. All services rendered hereunder shall be provided in accordance with all ordinances, resolutions, statutes, rules and regulations of City and any federal, State or local governmental agency ("Law") having jurisdiction in effect at the time this Agreement is executed. City, and its elected and appointed officers, employees, agents, designated volunteers, attorneys, successors and assigns shall not be liable at law or in equity for failure of Consultant to comply with this Section. Notwithstanding the foregoing, in the event a Law is implemented subsequent to the execution of this Agreement with which Consultant cannot comply, Consultant shall so advise City within 120 days.

1.4 Licenses, Permits, Fees and Assessments. Consultant shall obtain and maintain at its sole cost and expense such licenses, permits and approvals as may be required by law for the performance of the services required by this Agreement. Consultant shall have the sole obligation to pay for any fees, assessments and taxes, plus applicable penalties and interest, which may be imposed by law and arise from or are necessary for Consultant's performance of the services 55842.00001143964850 .5
required by this Agreement, and shall indemnify, defend and hold harmless City against any such fees, assessments, taxes, penalties or interest levied, assessed or imposed against City hereunder.

1.5 Additional Services and Compensation. City shall have the right at any time during the performance of the services, without invalidating this Agreement, to order extra work beyond that specified in the Scope of Services or make changes to the work by altering, adding to or deducting from said work. No such extra work may be undertaken unless a written order, consistent with both Section 9.4 as well as the Laguna Niguel Municipal Code, is first given by City to Consultant, incorporating therein any adjustment in the Contract Sum for the actual costs of the extra work and/or the time to perform this Agreement, which said adjustments are subject to the written approval of Consultant. It is expressly understood by Consultant that the provisions of this Section shall not apply to services specifically set forth in the Scope of Services or reasonably contemplated therein. Consultant hereby acknowledges that it accepts the risk that the services to be provided pursuant to the Scope of Services may be more costly or time consuming than Consultant anticipates and that Consultant shall not be entitled to additional compensation therefor. City may in its sole and absolute discretion have similar work done by other consultants.

The Parties agree that modifications to the Scope of Services may result in price adjustments.

1.6 Familiarity with Work. By executing this Agreement, Consultant represents and warrants Consultant: a) has thoroughly investigated and considered services to be performed, b) has carefully considered how services should be performed, and c) fully understands the facilities, difficulties and restrictions attending performance of services under this Agreement.

1. 7 Prevailing Wages. If services include any "public work" or "maintenance work," as those terms are defined in California Labor Code section 1720 et seq. and California Code of Regulations, Title 8, section 16000 et seq., and if the total compensation is $1,000 or more, Consultant shall pay prevailing wages for such work and comply with the requirements in California Labor Code section 1 770 et seq. and 1810 et seq., and all other applicable laws. To the maximum extent permitted by law, Consultant's obligations in Section 5.3 (Indemnification) expressly apply to acts or omissions arising out of, or incidental to, the payment of prevailing wages by any person or entity (including Consultant, its subcontractors, and each of their officers, employees and agents) in connection with any services, including without limitation the payment of all consequential damages, attorneys' fees, and other related costs and expenses. All duties of Consultant pursuant to this section shall survive termination of the Agreement.

ARTICLE 2. COMPENSATION AND METHOD OF PAYMENT

2.1 Contract Sum. Subject to any limitations set forth in this Agreement, City agrees to pay Consultant the amounts specified in "Consultant's Proposal" attached hereto as Exhibit B and incorporated herein by this reference. Upon expiration of original term of the Agreement, if term is extended (pursuant to Section 3 .2 or otherwise), fees and rates may only be increased both pursuant to Section 9 .4 as well as subsequent to negotiation between the Parties on a reasonable mcrease.

2.2 Invoices. In accordance with the terms set forth in Exhibit B, once per month Consultant shall submit to City, an invoice for services rendered prior to the date of the invoice.

By submitting an invoice for payment under this Agreement, Consultant is certifying compliance 55842.0000 I \43964850 .5
with all provisions of this Agreement. City shall pay Consultant for all expenses stated thereon which are approved by City pursuant to this Agreement generally within thirty (30) days of the issuance date of the invoice, and City will use its best efforts to make payment no later than forty five ( 45) days, from the submission of an invoice. A finance charge may be assessed by Consultant on any invoice that remains unpaid within 45 days of the issuance date of the invoice. In the event any charges or expenses are disputed by City, the original invoice shall be returned by City to Consultant for correction and resubmission. Review and payment by City for any invoice provided by Consultant shall not constitute a waiver of any rights or remedies provided herein or any applicable law.

ARTICLE 3. PERFORMANCE SCHEDULE

3.1 Term. Unless earlier terminated in accordance with Article 7 of this Agreement, this Agreement shall continue in full force and effect for five (5) years. The term of this Agreement may be extended by a maximum of five (5) years upon written consent by both Parties, then by up to five additional one-year extensions (with a total cumulative term of no greater than fifteen (15) years), upon written consent by both Parties.

3.2 Schedule of Performance. Consultant shall commence the services pursuant to this Agreement upon receipt of a written notice to proceed and shall perform all services within the time period(s) specified in this Agreement and the Implementing Agreements , as defined in Section 9.4 herein and established in "Implementing Agreements" attached hereto as Exhibit A and incorporated herein by this reference.

3.3 Force Maieure. The time period(s) specified in the Schedule of Performance for performance of the services rendered pursuant to this Agreement shall be extended because of any delays due to unforeseeable causes beyond the control and without the fault or negligence of Consultant, including , but not restricted to, acts of God or of the public enemy, unusually severe weather, fires, earthquakes, floods, epidemics , quarantine restrictions , riots, strikes, freight embargoes, wars, litigation , and/or acts of any governmental agency, including City, (with the express exception of delays arising from the impact of COVID-19 and its variants to the extent such impact is foreseeable or should have reasonably been foreseeable) , if it is operationally feasible and reasonable for Consultant to, within ten ( 10) days of the commencement of such delay, notify City in writing of the causes of the delay. In no event shall Consultant be entitled to recover damages against City for any delay in the performance of this Agreement, however caused, Consultant's sole remedy being extension of this Agreement pursuant to this Section.

ARTICLE 4. COORDINATION OF WORK

4.1 City Representative. The City Representative is such person as designated by the City Manager or her designee. The City Representative shall be the primary person on behalf of City responsible for the administration of the Agreement. It shall be Consultant's responsibility to assure that the City Representative is kept informed of both the progress of the performance of the services as well as any decisions which must be made by City.

4.2 Approvals from City. City approvals or actions, pursuant to the authority of this Agreement, may be made (unless otherwise specified) either by the City Manager, the Assistant 55842 .00001 \43964850 .5
City Manager, Finance Director, or by the City Representative ( or by their respective delegates as provided for in writing).

4.3 Independent Contractor. Neither City, nor any of its officers, employees or agents, shall have any control over the manner or means by which Consultant, or its officers, employees, agents or subcontractors, perform the services required herein, except as otherwise set forth herein. Consultant shall perform all services required herein as an independent contractor of City and shall remain under only such obligations as are consistent with that role. Consultant shall not at any time or in any manner represent that it, or any of its officers, employees, agents or subcontractors, are officers, employees or agents of City. City shall not in any way or for any purpose become or be deemed to be a partner of Consultant in its business or otherwise or a joint venturer or a member of any joint enterprise with Consultant. Consultant shall not incur or have the power to incur any debt, obligation or liability whatever against City, or bind City in any manner. Consultant represents and warrants that the personnel used to provide services to City pursuant to this Agreement shall at all times be under Consultant's exclusive control and direction.

No City employee benefits shall be available to Consultant, its officers, employees, agents or subcontractors, in connection with the performance of this Agreement. City shall not be liable for compensation or indemnification to Consultant, its officers, employees, agents or subcontractors , for injury or sickness arising out of performing services hereunder. In the event that Consultant or any officer, employee, agent, or subcontractor of Consultant providing services under this Agreement claims or is determined by a federal or state agency, a court of competent jurisdiction , or the California Public Employees' Retirement System, to be classified as other than an independent contractor for City, then Consultant shall indemnify, defend, and hold harmless City for the payment of any and all assessed fines, penalties, judgments, employee and/or employer contributions, and any other damages and costs assessed to City as a consequence of, or in any way attributable to, the assertion that Consultant , or any officer, employee, agent, or subcontractor Consultant used to provide services under this Agreement, is/are employees of City.

ARTICLE 5. INSURANCE AND INDEMNIFICATION

5.1 Insurance Coverages. Prior to commencement of any services under this Agreement, and without limiting Consultant's indemnification obligation to City, Consultant shall procure and maintain, at its sole cost and expense, in a form and content satisfactory to City, for the duration of the Agreement, primary policies of insurance of the type and amounts below, issued by an insurance company currently authorized by the Insurance Commissioner to transact business of insurance or is on the List of Approved Surplus Line Insurers in the State of California, with an assigned policyholders' Rating of A- (or higher) and Financial Size Category Class VII (or larger) in accordance with the latest edition of Best's Key Rating Guide, unless otherwise approved by City, which shall cover all elected and appointed officers, employees, agents, designated volunteers, attorneys, successors and assigns of City. City reserves the right at any time during the term of the Agreement to change the amounts and types of insurance required by giving Consultant ninety (90) days advance written notice of such change. If such change results in substantial additional cost to Consultant, City and Consultant may renegotiate Consultant's compensation. (a) Commercial General Liability Insurance. A policy of commercial general liability insurance, with coverage at least as broad as Insurance Services Office ("ISO") form CG 00 01 , written on a per occurrence basis for bodily injury, personal injury and property 55842.00001 \43964850.5
damage. Defense costs must be paid in addition to limits. Coverage for an additional insured shall not be limited to its vicarious liability. The policy must include contractual liability that has not been amended. Any endorsement restricting standard ISO "insured contract" language will not be accepted. Limits shall be no less than $1,000,000 per occurrence for all covered losses and no less than $2,000,000 general aggregate.
(b) Worker's Compensation Insurance. A policy of worker's compensation insurance in such amount as will fully comply with the laws of the State of California and which shall indemnify, insure and provide legal defense for Consultant against any loss, claim or damage arising from any injuries or occupational diseases occurring to any worker employed by or any persons retained by Consultant in the course of carrying out the work or services contemplated in this Agreement.
(c) Automobile Liability. A policy of comprehensive automobile liability insurance, at least as broad as ISO form CA 00 01, written on a per occurrence basis covering bodily injury and property damage in an amount not less than $1,000,000 combined single limit for each accident. Said policy shall include coverage for owned, non-owned, leased, hired cars and any automobile.
(d) Professional Liability. Professional liability insurance appropriate to Consultant's profession. This coverage may be written on a "claims made" basis and must include coverage for contractual liability. Any policy inception date, continuity date, or retroactive date must be before the effective date of this Agreement. The professional liability insurance required by this Agreement must be endorsed to be applicable to claims based upon, arising out of, or related to services performed under this Agreement.
(e) Cyber Liability. Cyber liability insurance appropriate to Consultant's profession and the services hereunder, written on a per occurrence basis, with limits not less than $1,000,000 per occurrence/loss, and $2,000,000 in the aggregate. Coverage shall be sufficiently broad to respond to the duties and obligations undertaken by Consultant pursuant to this Agreement and shall include, but not be limited to, claims involving: infringement of intellectual property; copyright; trademark; invasion of privacy violations; data breach; electronic information theft, loss, damage, destruction, alteration or misuse; release of private information; extortion; and, network security. The policy shall provide coverage for breach response costs, regulatory fines and penalties, and credit monitoring expenses, with limits sufficient to respond to these obligations.
(f) Excess Liability and Umbrella Liability Insurance. Excess liability insurance and/or umbrella liability insurance may be used to satisfy the obligations herein. If excess liability insurance is used then the policy shall meet all the requirements herein and be at least as broad as the primary coverages set forth herein. Such policy shall: 1) include a drop down feature requiring the policy to respond if primary insurance that would otherwise have applied proves to be uncollectible in whole or in part for any reason; 2) be payable on behalf of wording as opposed to reimbursement; 3) have concurrency of effective dates with primary policies; 4) "follow form" to the underlying primary policies; and, 5) provide insureds, under primary policies required herein, shall be insureds under the excess liability policy. 55842.0000 I \43964850.5
(g) Subcontractors. In the event Consultant subcontracts any portion of the work, Consultant shall either: 1) include each subcontractor as insureds under its policies of insurance required herein; or, 2) Consultant shall, upon request of City, furnish to City all documentation, required in Article 5 for Consultant, for each subcontractor. All coverages for subcontractors shall include all of the requirements herein.

5.2 General Insurance Requirements.
(a) Proof of Insurance, Enforcement and Notice. No work or services under this Agreement shall commence until both Consultant has provided City with insurance certificates, Any failure to comply with the reporting or other provisions of the policies including breaches or warranties shall not affect coverage provided to City. In the event any insurance policy required under this Agreement is cancelled or amended (and the insurance policy is not replaced pursuant to subsection (b) below), or does not comply with Article 5, then: 1) City has the right but not the duty to obtain insurance required herein and any premium paid by City will be promptly reimbursed by Consultant or City will withhold amounts sufficient to pay premium from Consultant payments; or, 2) City, notwithstanding any other provisions of this Agreement, may immediately terminate this Agreement. Consultant shall give City prompt and timely notice of claims made or suits instituted that arise out of or result from Consultant's performance under this Agreement, and that involve or may involve coverage under any of the required insurance policies. (b) Cancellation/ Amendment. All of herein required policies of insurance shall provide the insurance may not be amended or cancelled by insurer or any Party hereto without providing thirty (30) calendar days prior written notice (with exception often (10) calendar days prior written notice for nonpayment of premium) to City. In the event any of said policies of insurance are amended or cancelled, Consultant shall, five (5) business days prior to the cancellation date, submit new evidence of insurance, or reinstatement of policy, in conformance with this Agreement to City.
(c) Additional Insureds. The commercial general liability policy provided for in Section 5.l(a) and the automobile liability policy provided for in Section 5.l(c) both shall name City and its elected and appointed officers, employees, agents and designated volunteers ("City Parties") as additional insureds and such coverage shall contain no special limitations on the scope of protection afforded to City and City Parties. A severability of interests provision must apply for all additional insureds ensuring that Consultant's insurance shall apply separately to each insured against whom claim is made or suit is brought, except with respect to the limits of the insurer's liability, and policies of insurance shall not contain any cross-liability exclusions. {d) Primarv, Subrogation, Contribution and Coverage. All of the above policies of insurance shall be primary insurance. The insurers (with exception of workers compensation, cyber liability, excess liability/ umbrella liability, professional liability insurer) for above policies, Consultant and any subcontractors are all deemed hereof to waive all rights of subrogation and contribution they may have against City or City Parties, and their respective insurers, and all insurance policies required herein shall be endorsed to waive such rights. Any insurance maintained by City or City Parties will apply in excess of, and not contribute with, Consultant's insurance. If Consultant maintains broader coverage and/or higher limits than the minimum amounts provided herein, City requires and shall be entitled to the broader coverage 55842.00001 \43964850 .5
and/or higher limits maintained by Consultant. Any available insurance proceeds in excess of the specified minimum limits of insurance and coverage shall be available to City and City Parties.

None of the coverages required herein will be in compliance with this Agreement if they include any limiting endorsement of any kind that has not been first submitted to City and approved of in writing. Requirements of specific coverage features or limits contained herein are not intended as a limitation on coverage, limits or other requirements, or a waiver of any coverage normally provided by any insurance. Specific reference to a given coverage feature is for purposes of clarification only as it pertains to a given issue and is not intended by any Party or insured to be all inclusive, or to the exclusion of other coverage, or a waiver of any type. (c) Limitations, Self- Insured Retention and Deductibles. Consultant agrees that requirements of Article 5 shall not be construed as limiting in any way the extent to which Consultant may be held responsible for the payment of damages to any persons or property resulting from Consultant's activities or the activities of any person or persons for which Consultant is otherwise responsible nor shall it limit Consultant's indemnification liabilities as provided in Section 5.3.

5.3 Indemnification. During the term of this Agreement, Consultant will indemnify, defend and hold harmless the City and its officers, directors, employees, agents and assigns (the "Indemnified Parties") from and against all losses or damages (collectively, "Losses") arising out of, resulting from or relating to the performance of the services provided hereunder which are, in each case, directly caused in whole or in part by the negligent or intentional misconduct of Consultant or any of its officers, directors, employees, agents, subcontractors or assigns, except to the extent such Losses are caused by the negligence or intentional misconduct of the City. In no event will Consultant be liable for any indirect, special, consequential or punitive damages, whether or not the likelihood of such damages was known to Consultant, and regardless of the form of the claim or action or the legal theory on which it is based. Wells Fargo's liability under this indemnity will be limited to an amount not to exceed two hundred and fifty thousand dollars and no cents ($250,000.00). This indemnification shall survive the termination of this Agreement.

ARTICLE 6. RECORDS, REPORTS AND RELEASE OF INFORMATION

6.1 Records. Consultant shall apply with applicable laws. Consultant shall keep, and require subcontractors to keep, such ledgers, books of accounts, invoices, vouchers, canceled checks, reports, studies or other documents relating to the disbursements charged to City and services performed hereunder ("books and records") as shall be necessary to perform the services required by this Agreement and enable City to evaluate the performance of such services. Any and all such books and records shall be maintained in accordance with generally accepted accounting principles (and, as applicable, maintained also in accordance with requirements of Labor Code section 1776), shall be complete and detailed. Such books and records shall be maintained either for a period of no less than three (3) years following completion of the services hereunder, or for such period of time as required by applicable law, whichever period of time is less. City shall have the right to review Consultant's relevant records with reasonable prior notice during normal business hours in accordance with Consultant's policies and procedures for the purpose of verifying the accuracy of amounts charged or compliance with contractual financial and record keeping requirements related to the Services. Notwithstanding the foregoing, City shall have no right to audit or inspect of Consultant's data center(s), facilities, systems, networks or equipment. 55842 .0000 I \43964850 .5

6.2 Reports. Consultant shall periodically submit written reports to City Representative concerning performance of services, upon request, and/or as necessary for City to be informed of both performance of services as well as any decisions which must be made by City.

6.3 Ownership of Documents. Consultant will provide customary data and reports to City associated with the services. However, Consultant is a service provider, and is not delivering "work product" in connection with its provision of the services. Consultant will retain all ownership and related rights in its intellectual property (including, but not limited to, systems, software and hardware, regardless of location or date of development), used or developed in connection with the services, now and hereafter.

6.4 Confidentiality and Release of Information. Consultant will keep Confidential Information (meaning all non-public, confidential or proprietary information of City that is disclosed to Consultant during the term of the Contract by City or any of its officers, employees, agents or representatives in connection with the provision of banking services, and includes, without limitation, all financial, technical or business information relating to City, including trade secrets, research and development test results, marketing or business plans, strategies, forecasts, budgets, projections, customer and supplier information, and any other analyses, computations or studies prepared by or for City.) confidential, and will not disclose Confidential Information to any person or entity, except disclosures:
(a) to federal and state bank examiners, and other regulatory officials having jurisdiction over Consultant;
(b) to (i) Consultant's Representatives (including, without limitation, all other banks and companies affiliated with Consultant & Company, and their legal counsel, auditors, and other professional advisors retained by Consultant or its affiliates who need to know the Confidential Information for purposes of the Evaluation), and (ii) any rating agency of Bank, provided that each such individual or entity is informed of the confidential nature of the Confidential Information, and agrees to treat the Confidential Information as confidential in accordance with terms and conditions no less protective than as set forth in this Agreement; (c) required by law or legal process in the opinion of Bank's Representatives; or
( d) otherwise authorized in writing by City.

In the event that Consultant or any of its Representatives is, in the opinion of Consultant's counsel, required by applicable law to disclose any Confidential Information, then Consultant, unless prohibited by law, will provide notice of the legal process to City so that City, at its sole option (but without obligation to do so), and at its sole expense, may attempt to seek a protective order or other appropriate remedy and/or waive compliance with the provisions of this Agreement.

ARTICLE 7. ENFORCEMENT OF AGREEMENT AND TERMINATION

7.1 California Law. This Agreement shall be interpreted, construed and governed both as to validity and to performance of the Parties in accordance with the laws of the State of California. Legal actions concerning any dispute, claim or matter arising out of or in relation to 55842 .0000 I \43964850 .5
this Agreement shall be instituted in the Superior Court of the County of Orange, State of California, or any other appropriate court in such county, and Consultant agrees to submit to the personal jurisdiction of such court in the event of such action. In the event of litigation in a U.S.

District Court, venue shall lie exclusively in the Central District of California, Southern Division, in the County of Orange, State of California.

7.2 Suspension, or Termination, Prior to Expiration of Term. This Section shall govern any termination of this Agreement except as specifically provided in Section 7.4 for termination for cause or any suspension or termination provision set forth in any Service Description. City reserves the right to terminate or suspend this Agreement, or any portion hereof, at any time, for any reason, with or without cause, upon ten (10) days' notice to Consultant, except that where termination or suspension is due to the fault of Consultant, the period of notice may be such shorter time as determined by City. Upon receipt of any notice of termination or suspension, Consultant shall immediately cease all services hereunder , unless the notice provides otherwise, or except such as specifically approved by City. Upon submittal of an invoice consistent with Section 2.2, Consultant shall be entitled to compensation for all services rendered prior to the effective date of the notice of termination or suspension and for any services authorized by City thereafter in accordance with the Schedule of Compensation, or such as may be approved by City.

In event of termination, or suspension, without cause pursuant to this Section, there is no need to provide opportunity to cure pursuant to Section 7 .3.

Consultant may terminate this Agreement without cause subject to a notice period of 120 days; however, Consultant may terminate for cause due to City's failure to comply with the terms of this Agreement or any material adverse change. Consultant's right to terminate for cause is subject to a notice and cure period of thirty (30) days.

7.3 Default of Consultant and Opportunity to Cure. In the event that Consultant is in default under the terms of this Agreement, City may give notice to Consultant of the default and the reasons for the default. The notice shall include the timeframe in which Consultant may cure the default. This timeframe is presumptively ten (10) days, but may be extended if circumstances warrant, as determined by City. If Consultant does not cure the default by conclusion of noticed timeframe, City may immediately both terminate this Agreement with notice to Consultant as well as pursue the remedy in Section 7.4, without prejudice to any other remedy to which City may be entitled at law, in equity or under this Agreement. Any failure on the part of City to give notice of Consultant's default shall not be deemed to result in a waiver of City's legal rights or any rights arising out of any provision of this Agreement.

7.4 Termination for Default of Consultant. If termination is due to the failure of Consultant to fulfill its obligations under this Agreement , City may, after compliance with the provisions of Section 7 .3, terminate this Agreement..

7.5 Waiver. Waiver by any Party to this Agreement of any term, condition , or covenant of this Agreement shall not constitute a waiver of any other term, condition, or covenant. Waiver by any Party of any breach of the provisions of this Agreement shall not constitute a waiver of any other provision or a waiver of any subsequent breach or violation of any provision of this Agreement. Acceptance by City of any work or services by Consultant shall not constitute a waiver of any of the provisions of this Agreement. No delay or omission in the exercise of any right or 55842 .0000 I \43964850 .5
remedy by a non-defaulting Party on any default shall impair such right or remedy or be construed as a waiver. Any waiver by either Party of any default must be in writing and shall not be a waiver of any other default concerning the same or any other provision of this Agreement. Consultant acknowledges and agrees that any actual or alleged failure on the part of City to inform Consultant of non-compliance with any requirement of this Agreement imposes no additional obligations on City nor does it waive any rights hereunder. Payment to Consultant for work performed pursuant to this Agreement shall not be deemed to waive any defects in work performed by Consultant.

7.6 Rights and Remedies are Cumulative. Except with respect to rights and remedies expressly declared to be exclusive in this Agreement, the rights and remedies of the Parties are cumulative and the exercise by either Party of one or more of such rights or remedies shall not preclude the exercise by it, at the same or different times, of any other rights or remedies for the same default or any other default by the other Party.

7. 7 Legal Action. In addition to any other rights or remedies, either Party may take legal action, in law or in equity, to cure, correct or remedy any default, to recover damages for any default, to compel specific performance of this Agreement, to obtain declaratory or injunctive relief, or to obtain any other remedy consistent with the purposes of this Agreement.

Notwithstanding any contrary provision herein, Consultant shall file a statutory claim pursuant to Government Code sections 905 et seq. and 910 et seq., in order to pursue a legal action under this Agreement.

7.8 Attorneys' Fees. If either Party to this Agreement is required to initiate or defend or made a party to any action or proceeding in any way connected with this Agreement, the prevailing party in such action or proceeding, in addition to any other relief which may be granted, whether legal or equitable, shall be entitled to reasonable attorneys' fees. Attorneys' fees shall include attorneys ' fees on any appeal, and a Party entitled to attorneys' fees shall be entitled to all other reasonable costs for investigating such action, consultants' fees, taking depositions and discovery and all other necessary costs the court allows which are incurred in such litigation. Such fees and costs shall be enforceable whether or not such action is prosecuted to judgment.

ARTICLE 8. INDIVIDUAL LIABILITY, CONFLICTS AND NON-DISCRIMINATION

8.1 Noo-liabilitv of Citv Officers and Emplovees. No officer or employee of City shall be personally liable to Consultant , or any successor in interest, in the event of any default or breach by City or for any amount which may become due to Consultant or to its successor, or for breach of any obligation of the terms of this Agreement.

8.2 Conflict of Interest. Consultant covenants that it has no knowledge that it, or any officer or principal of its firm, has or shall acquire any interest, directly or indirectly, which would conflict in any manner with the interests of City or which would in any way hinder Consultant's performance of services under this Agreement. Consultant further covenants that it has no knowledge that during the performance of this Agreement, that any person having any such interest shall be employed by it as an officer, employee, agent or subcontractor without the express written consent of City. Consultant agrees to at all times avoid conflicts of interest or the appearance of any conflicts of interest with the interests of City in the performance of this Agreement. City, in its sole discretion, shall determine the existence of a conflict of interest and 55842.0000 I \43964850.5
may terminate this Agreement in the event such a conflict of interest exists upon sending Consultant written notice describing the conflict. No officer or employee of City shall have any financial interest, direct or indirect, in this Agreement nor shall any such officer or employee participate in any decision relating to this Agreement which affects their financial interest or the financial interest of any corporation, partnership or association in which they are, directly or indirectly, interested, in violation of any State statute or regulation. Consultant warrants that it has no knowledge of any payment given and will not pay or give any third party any money or other consideration for obtaining this Agreement.

8.3 Covenant Against Discrimination. Consultant covenants that, by and for itself, its heirs, executors, assigns, and all persons claiming under or through them, that there shall be no discrimination against or segregation of, any person or group of persons on account of race, color, creed, religion, sex, gender, sexual orientation, marital status, national origin, ancestry or other protected class in the performance of this Agreement.

ARTICLE 9. MISCELLANEOUS PROVISIONS

9.1 Notices. Any notice or other communication either Party desires or is required to give to the other Party or any other person in regards to this Agreement must be in writing and may be given either by (i) personal service, (ii) delivery by a reputable document delivery service, such as but not limited to, Federal Express, which provides a receipt showing date and time of delivery, or (iii) mailing in the United States Mail, certified mail, postage prepaid, return receipt requested, in the case of City addressed to Finance Director at City of Laguna Niguel, 30111 Crown Valley Parkway, Laguna Niguel, CA 92677, and in the case of Consultant, to the person(s) at the address designated on the execution page of this Agreement. Either Party may change its address by notifying the other Party of the change of address in writing. Notice shall be deemed communicated at the time personally delivered or in seventy-two (72) hours from the time of mailing if mailed as provided in this Section.

9.2 Interpretation. The terms of this Agreement shall be construed in accordance with the meaning of the language used and shall not be construed for or against either Party by reason of the authorship of this Agreement, headings used, or any other rule of construction which might otherwise apply.

9.3 Counterparts. This Agreement may be executed by a party in the form of an "Electronic Record" (as defined in the Electronic Signatures in Global and National Commerce Act at 15 U.S.C. §7001 et seq. ["ESIGN Act"]). This amendment may be executed in as many counterparts as may be required to reflect all parties' approval, and all counterparts will collectively constitute a single agreement. An "Electronic Signature" (as defined in the ESIGN Act) that can be authenticated will constitute an original and binding signature of a party. The fact that a counterpart is in the form of an Electronic Record or is signed using an Electronic Signature will not, in and of itself, be grounds for invalidating such counterpart.

9.4 Integration; Amendment. This Agreement including the attachments hereto is the entire, complete and exclusive expression of the understanding of the Parties as to the Agreement. The Parties intend to enter into mutually acceptable implementing agreements in connection with this Agreement (the "Implementing Agreements"). The entire and integrated 55842.00001 \43964850 ,5
Agreement between City and Consultant related to the Services consist of this Agreement, the City's RFP and all addenda thereto, the Consultant's Proposal, and the Implementing Agreements.

In the event of conflict among any of the preceding documents, such documents shall govern in the following order of precedence, unless specifically agreed to by City in writing: (1) the text of this Agreement, (2) Exhibit A - the Implementing Agreements, (3) Exhibit B - Consultant's Proposal, and (4) Exhibit C - the City's RFP. The integrated Agreement supersedes all prior negotiations, representations, statements, and agreements, whether written or oral, regarding the services. No amendment to or modification of this Agreement shall be valid unless made in writing, approved by City and Consultant, and consistent with the Laguna Niguel Municipal Code.

However, the Service Descriptions attached to Consultant's Proposal may be amended in accordance with its terms, and as changed, remain incorporated by reference herein with the same rules of priority set forth in this section.

9.5 Severability. Should a portion of this Agreement be declared invalid or unenforceable by a judgment or decree of a court of competent jurisdiction, such invalidity or unenforceability shall not affect any of the remaining portions of this Agreement which are hereby declared as severable and shall be interpreted to carry out the intent of the Parties unless the invalid provision is so material that its invalidity deprives either Party of the basic benefit of their bargain or renders this Agreement meaningless.

9.6 No Undue Influence. Consultant declares and warrants that no undue influence or pressure was used against or in concert with any officer or employee of City in connection with the award, terms or implementation of this Agreement, including any method of coercion, confidential financial arrangement, or financial inducement. No officer or employee of City has or will receive compensation, directly or indirectly, from Consultant, or from any officer, employee or agent of Consultant, in connection with the award of this Agreement or any work to be conducted as a result of this Agreement. Violation of this Section shall be a material breach of this Agreement entitling City to remedies in Section 7.4 and any and all remedies at law or equity.

9.7 Corporate Authoritv. The persons executing this Agreement on behalf of the Parties hereto warrant that (i) such Party is duly organized and existing, (ii) they are duly authorized to execute and deliver this Agreement on behalf of said Party, (iii) by so executing this Agreement, such Party is formally bound to the provisions of this Agreement, and (iv) entering into this Agreement does not violate any provision of any other agreement to which said Party is bound. This Agreement shall be binding upon the heirs, executors, administrators, successors and assigns of the Parties.
[SIGNATURES ON FOLLOWING PAGE]
55842.0000 I \43964850.5
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on the date and year first-above written.

ATTEST:

Marissa J. Asistin, City Clerk

APPROVED AS TO FORM BY THE

CITY ATTORNEY FOR THE

CITY OF LAGUNA NIGUEL,
CALIFORNIA:

Scott C. Smith, City Attorney
CITY:

CITY OF LAGUNA NIGUEL, a California
municipal corporation
Tamara S. Letourneau, City Manager
CONSULTANT:
a ---- ---- • ---------
By: _____________ _
Name:

Title:

By: _____________ _
Name:

Title:

Address: - ----------
Two corporate officer signatures required when Consultant is a corporation, with one signature required from each of the following groups: 1) Chairperson of the Board, President or any Vice President; and 2) Secretary, any Assistant Secretary, Chief Financial Officer or any Assistant Treasurer. (Cal. Corp. Code § 313.) APPROPRIATE ATTESTATIONS

SHALL BE INCLUDED AS MAY BE REQUIRED BY THE BYLAWS, ARTICLES OF

INCORPORATION, OR OTHER RULES OR REGULATIONS APPLICABLE TO CONSULTANT'S BUSINESS ENTITY.
55842.00001 \43964850.5
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\ \
- r ----------
. - ---- -----=-=-~===;===-_-_-_-_-_JL_-_- _- _-_-_-_L~--=--=----- ---- -- - - -- - - ------
-- -----
City of Laguna Niguel
Response to Request for Proposal for Banking, and Procurement Card Services March 14, 2025
Submitted by:

Jeannie Kabilafkas
Relationship Manager
805-407-6174
jeannie [email protected]
Ryan Harlow-Nakano
Treasury Management Consultant
949-922-0803
[email protected]
Cory Jahn
Payables Consultant
213-407-7131
[email protected]
© 2025 Wells Fargo Bank, N.A. Organized under the laws of the U.S.A. with limited liability. Member FDIC. Deposits held in non-U.5. branches are not FDIC insured.

Deposits with Wells Fargo Bank, N.A., Canadian Branch are not insured by the CDIC. ■
March 14, 2025
Trevor Agrelius
Finance Director
City of Laguna Niguel
30111 Crown Valley Pwky.

Laguna Niguel, CA 92677
Dear Trevor,
Jeannie Kabilafkas
Relationship Manager
Wells Fargo Bank, N.A.
2030 Main St.

Suite 700
Irvine, CA 92614
On behalf of Wells Fargo Bank N.A. (Wells Fargo), thank you for the opportunity to present our proposal for Banking, and Procurement Card Services to the City of Laguna Niguel (the City).

Understanding your needs
As your local relationship manager, I help to ensure that the City is kept up-to-date with the latest trends and provide ongoing reviews of current services. With 30 years of banking experience and 17 years focused government clients, I take pride in the relationships that my team has built throughout the years and believe customer service is most important in building that foundation. It is my goal to show you the value in our efficiencies, and how we believe Wells Fargo is the best choice for all your financial needs. The closest branch location is 30160 Town Center Drive in Laguna Niguel.

Meeting your goals
As our response and references reflects, we deeply understand our clients' needs and come to the table with new ideas and consultative recommendations. We hope to have the opportunity to build on the ideas in this Request for Proposal (RFP) and support the City in your ongoing journey with more integrated and automated treasury solutions, all at your pace.

The right offer
With both compelling solutions and price, Wells Fargo Bank can meet your treasury management needs.

In consideration of this proposal, we would like to offer the following incentives :

1. An earnings credit rate (ECR) of 2.00% to be applied to uninvested collected balances to waive your monthly analyzed charges (approximate annual savings of $8,018.40) that you are currently paying.

2. Six months of waived treasury service analysis fees to assist with a transition period ($2,562 value)

3. Technology credit of $10,000 to implement new enhancements to your treasury services to help the City with tools

4. Supplies allowance of $1,000
© 2025 Wells Fargo & Company.

We have prepared a compelling and innovative response suited to the City's present banking needs and recommendations to propel you into the future. Our proposal shall remain valid for a period of not less 90 days from the date of submittal. We would be open to further discussion to assist in providing additional alternatives to best serve the City.

Sincerely,
Jeannie Kabilafkas
Relationship Manager
Government Banking

WELLS FARGO
Executive summary
As a respected government entity, the City has an obligation to safeguard the funds and personal information with which the pub lic entrusts you. You must manage taxpayer dollars wisely, with integrity, and to the benefit of the diverse communities you serve every day.

You are also tasked with delivering quality services to your community on a tight budget and with limited resources - all while maintaining a high standard and under the scrutiny of your constituents and regulators .

By issuing your RFP, you have made clear your intention to work with the financial services provider that best reflects your financial goals, values, and strategic direction .

Wells Fargo is that provider, as
demonstrated by our
commitment to:

Developing long-term relationships
Solving
problems
with the
right
solutions
We have been looking forward to the opportunity to develop a relationship with you and are genuinely excited to respond to your RFP.

Through previous conversations we have had with you, we know that you want a treasury services provider that will listen, learn, and advise. We listen to clients by providing valuable forums such as our customer advisory council. We learn through an initial business process review where we observe how you currently run your operations. We then advise by meeting with you regularly to discuss concerns and suggest improvements.

Solving problems with the right solutions
We are fully committed to supporting the City through innovative and automated services.

Based on our understanding of the City 's current needs, future goals, and what you value most in a banking provider, we have focused our response on the following solutions.

City of Laguna Niguel 11

WELLS FARGO
Goals ___ _ Solutions for the City
Cost savings
Visibility and control
Enhanced banking
structure
Strong banking
relationship
Dedicated service
organization
Fraud prevention tools
Increased automation
We provide a full suite of electronic services that have the potential to replace manual processes, helping to provide cost savings in the fo1·m of added efficiencies
You can track and manage your cash flow more effectively with ou1· customizable information reporting .

The City can choose from seve1·al account structures that meet your needs, including subaccounting, sweep accounts, controlled disbursement, and other liquidit y solut ions designed to help impro ve you1· cash flow and balance sheet The City's relationship team consists of tenured experts who can use their knowledge and experience to help you stay up to date on common challenges.

Our client service officers are part of the treasury managemen t organization and can assist with a wide range of inquiries _
We offer many solutions, such as positive pay, ACH fraud filter, and payment authorization, which put controls in place to help prevent fraud.

Services like consolidated payables and receivables streams, fast ei- payment meth ods, and emb edded banking services such as applicat ion programmi ng interfaces (A Pis) have the potential to reduce st rain on information technology (IT) resources and accelerat e aut omatio n
Our proposal expands on each of these areas and provides further details on how we can meet your RFP requirements.

Focusing on what matters most to you
We recognize that there are many financial institutions competing for your business. However, we strongly believe that we are well qualified to be your treasury services provider because we prioritize the things that matter most to you.

Here are some of the areas where we strive to differentiate ourselves from our competitors.

A successful transition
We assign an implementation consultant to oversee new service implementations , helping to ensure that services operate correctly and your staff gain confidence in your new services from the very first day. Your implementation consultant develops the implementation schedule and documents the process from kickoff to go-live . In addition, your dedicated relationship, sales, and service teams will engage throughout the process.

Experienced, dedicated relationship team
It is a major decision to select your financial provider. While technology is extremely important, people play a critical role in any successful banking relationship.

City of Laguna Niguel I 2

WELLS FARGO
You will work with a dedicated relationship team that includes the following:
• Relationship Manager Jeannie Kabilafkas: Jeannie will meet with the City on a regular basis, coordinate internal experts to provide solutions, resolve any of your concerns, and take responsibility for your satisfaction.
• Treasury Management Consultant Ryan Harlow-Nakano: Ryan will lead your treasury management team and provides customized solutions that make your financial processes easier and more efficient.
• Payables Consultant Cory Jahn: Cory will work closely with the City to match our commercial card program's capabilities with your requirements . He may also propose new ideas to streamline your processes and reduce payment costs . • Payables Account Manager: Your payables account manager is your principal point of contact for all aspects of your card program. Your payables account manager meets with you regularly to discuss your program goals and needs.
• Treasury Management Analyst Erwin Fulgencio: Erwin provides day-to-day sales support for your treasury services. He can provide support when Ryan is unavailable . • Global Payments & Liquidity (GPL) Service team: They provide day-to-day support for all of your treasury management services. They act as a liaison between you and our operations groups to resolve issues in a timely manner .

Specialized teams with deep government knowledge
Wells Fargo government banking
Wells Fargo formed our Government Banking team to better support the needs of our government clients, their employees, and the communities they serve. The team is composed of banking, credit, and treasury management professionals who work together to provide you with the industry expertise and specialization you need to make sound financial decisions.

We support more than 3,000* government clients including, federal, state, county, and city governments , as well as government agencies, authorities, and municipal utilities. This experience gives you and your employees access to critical industry intelligence and innovative best practices. • Wells Fargo internal reporting, as of Q3 2024 .

An enduring local presence
Wells Fargo has helped local governments for decades with their diverse financial needs. We have been doing business in small town America for the better part of two centuries and, today, we provide treasury management services to almost 900 cities and townships*, large and small. • Internal reporting data. Current as of 2023 .

Our government banking team is dedicated to supporting public sector clients exclusively, providing ongoing relationship reviews, sales consultation, and customer service.

Our government banking team members also regularly attend the Government Finance Officers Association (GFOA) conference as well as many regional conferences, which helps them learn as you learn so we can stay attuned to your evolving needs.

City of Laguna Niguel 1 3

WELLS FARGO
A community focus
We also put a great emphasis on suppor t ing local communities through programs like NeighborhoodLIFT, which offers down payment assistance and homebuyer education . Our goal through such initiatives is to help advance long-term neighborhood stability through sustainable homeownership and ongoing financial education .

Environmental sustainability
We are focused on our goal of reducing our energy consumption and greenhouse gas emissions, increasing our operational efficiency, and advancing clean technology and innovative solutions . We believe that climate change continues to be one of the most urgent environmental and social issues of our time, and we are working across our value chain to help accelerate the transition to a low-carbon economy and reduce the impacts of climate change on our business, communities, employees, and clients .

Continuing the conversation
Wells Fargo appreciates the opportunity to work with the City on this important initiative. Our relationship is based not only on simply providing services, but also on delivering insight and working with you as true strategic advisor. As you continue through this RFP process, we look forward to further discussions about how our proposed solutions can take the City from where you are today to where you want to be in both the short and long term.

City of Laguna Niguel 14

WELLS FARGO
Project scope
The City is interested in detailed proposals from qualified banking institutions to provide Banking, Merchant and Procurement Card Services.

Acknowledged and confirmed .

Overview, experience, customer service
All proposals should provide a general overview of the Bank's operations, fundamental management, and customer service philosophy.

Wells Fargo & Company is a nationwide,
diversified financial services company.

Since 1852 we have remained dedicated
to satisfying our clients' financial needs
and helping them succeed financially .

Today, we are a leading financial services
company with approximately $1.9 trillion
in assets and $177.1 billion in market
capitalization. 1 Our more than 225,000
-···_.• . - ~ . . .. -
•
employees 2 provide insight and solutions to approximately 70 million clients spanning the globe.3 Our clients and communities are experiencing rapidly changing opportunities and challenges and we are evolving to meet their needs. We are focused on building a sustainable, inclusive future by supporting housing affordability, small business growth, financial health, and a low-carbon economy.

1. Wells Fargo & Company Annual Report. 2023 . ~
Statements> 2023 Annual Report.

2. Includes direct and indirect reports
..com> About Us> Investor Relations> Annual Reports and Proxy

3. MarketWatch. "'The Largest Banks in the U.S." Last updated October 8. 2024. - .£~" ...,2, ;;~ •. ,_;;c • ·::- ___0 _ _ Our financial strength
Wells Fargo is a leading middle-market banking provider rated Stable by the major credit rating agencies DBRS Morningstar, Fitch, Moody's, and S&P Global.* • The information provided can be found on our Wells Fargo Investor Relations site and is provided for informational purposes only. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information . Please read Legal Disclaimers before using or relying on information on or available through this site. Potential investors in our securities should seek professional advice before they invest.

City of Laguna Niguel I 5

WELLS FARGO
Serving our clients and communities
We have built our customer service philosophy around providing quality service and reliability. Our client service officers assist your until your issues are resolved. They take ownership of any issues you may encounter, from simple to complex, and navigate through any needed solutions .

Community involvement
The Wells Fargo foundation is primarily focused on providing grants for the highest need communities across our markets. The Foundation provided over $850k in philanthropic funding last year to nonprofit organizations in Orange County that has demonstrated positive impact in housing affordability, small business growth, financial health, and sustainability.

While none of the nonprofit organization we funded are headquartered in Laguna Niguel, their programs certainly touch Laguna Niguel residents. For example, WF provided $100k to United Way OC to implement the county's first homelessness prevention program, which spans across all 5 OC Supervisorial districts. The Foundation also provided support to Cool OC, Community Action Partnership of OC, the Small Business Diversity Network, and the UCI Foundation, to name a few.

Our branch network in Laguna Niguel incudes 4 branch locations with 48 employees, there is an additional branch in Laguna Hills which is listed in our proximity study below. As of 01/2025, the branch network has provided 888 Small Business Loans and Credit Cards to Small Businesses in Laguna Niguel.*
*Internal Reporting as of 01/2025
We are evolving to continue meeting the challenges facing our clients. We are also finding meaningful opportunities to help communities transition toward a resilient and sustainable future.

Some of our commitments include:
• $300 million in philanthropic giving in 2023*
• $129 billion in sustainable finance activitiest
• $500 billion committed toward sustainable finance initiatives by 2030* • $420 million in grants to help support small businesses through our Open for Business Fundt
* Wells Fargo 2024 Sustainability & Governance Report . August 2024 t Wells Fargo 2024 Diversity, Equity, and Inclusion Report . August 2024 .

Customer service
We have built our customer service philosophy around three key principles:
• Availability
• Delivery
• Reliability
We are available
We have more than 700 treasury management service specialists who skillfully handle customer requests every day.

City of Laguna Niguel 1 6

WELLS FARGO
These specialists serve as project managers for your inquiries from start to finish. We work directly with you to help ensure you are receiving the service you expect and deserve .

We deliver
Our GPL Service team uses advanced tools to track service inquiries to help ensure we deliver on our promises . We combine these tools with a disciplined approach that sets high service goals, tracks results, and maintains the customer response times we have established.

We are reliable
Our GPL Service team meets our expected resolution time 96% of the time.* * Data through calendar year 2023, Wells Fargo internal reporting, last updated February 2024 .

No matter how many Wells Fargo products and services you use, you have just one number to call if you have an issue to resolve . Our GPL Service team has a centralized structure with a presence in all time zones. We hold the same high standards across our organization ; all client service officers follow the same policies and procedures.

At times, your concerns may require the involvement of other departments. In these cases, a client service officer acts as your liaison, contacting other departments on your behalf, to help resolve the issue.

Bank overview
Explain the corporate organization, including identification of the government services unit.

Include an ethics statement. Identify the primary office or branch that the City will be assigned to and where the City will conduct its primary banking business.

Wells Fargo formed the Government Banking team to better support the needs of our government clients, their employees, and the communities they serve. The team is comprised of banking, credit, and treasury management professionals who work together and seek to provide you with the industry expertise and specialization you need to make sound financial decisions.

We are highly focused on service and collaboration and provide each government client with a tenured relationship manager local to your market. Your relationship manager oversees your relationship and partners with your treasury consultant to share new ideas and consult with you about your services.

Experienced treasury analysts, customer service, and implementation consultants also step in whenever needed to provide support for critical areas of your business.

Working with governments across the country
We support approximately 3,000* government clients through our coast-to-coast national government practice . This experience gives you and your employees access to critical industry intelligence and innovative best practices .
* Wells Fargo internal reporting, as of Q4 2024 ,
City of Laguna Niguel 17

WELLS FARGO
Our clients include federal , state , county , and city governments, as well as government agencies, authorities, and municipal uti lities. We also specialize in key subsectors of the industry includ ing public power, transportation, and state housing finance authorities .

Proximity study of branch depository services
The following table includes the deposit deadlines for bank credits on the same day of deposit fo r the branches, night depository locations, and deposit -enabled AT Ms that are closest to you.

Your location Branch Branch Night ATM deposit Distance
deposit deposit deadline (local
deadline deadline time)*
(local (local
time)* time)*
City Hall Crown Valley Mon -Fri: Mon- Fri Mon -Fri: 9 00 0 35 miles 30111 Crown Valley Pkwy. 30160 Town Center Dr 5 00p m 5 00 pm, p.m Laguna Niguel, CA 92677 Laguna Niguel, CA 926 77
City Hall Crown Valley & Greenfield Mon-Fri: Mon -Fri: Mon-Fri : 9:00 3.11 miles 30111 Crown Valley Pkwy. 28211 Crown Valley Pkwy. 5:00 p.m. 5:00 p.m. p.m.

Laguna Niguel, CA 92677 Laguna Niguel. CA926 77
City Hall Aliso Viejo Mon-Fri: Mo n- Fri: Mo n-Fri: 9:00 3 32 miles 30111 Crown Valley Pkwy. 27250 Alicia Pkwy 500 pm 500pm pm Laguna Niguel, CA 92677 Laguna Niguel, CA 926 77
City Hall Dana Point Mon-Fri : Mon-Fri: Mon-Fri : 9:00 3.81 miles 30111 Crown Valley Pkwy. 32331 Golden Lantern 5:00 p.m. 5:00 p.m. p.m Laguna Niguel, CA 92677 Laguna Niguel, CA 92677
City Hall Alicia Parkway Cente r Mon-Fri Mon-Fri: Mo n-Fri: 9:00 5 18 miles 30111 Crown Valley Pkwy. 25632 Alicia Pkwy 500pm 5O0 pm p.m Laguna Niguel, CA 92677 Laguna Hills, CA 92653
Company ethics
Ethics is the foundation for how we are perceived as a socially responsible company. Wells Fargo wants to go beyond what the law and industry standards require; we are committed t o maintaining an environment where employees are encouraged and supported in doing the right thing in the right way. Our Code of Conduct applies to all employees, including executive officers, and in some cases the Board of Directo rs. We monitor and refine our business practices to help ensure all employees are performing ethically and with integrity.

All employees must annually certify (through an online course and exam) that they will comply with the Wells Fargo Code of Conduct . Exam questions are scenario-based and multiple choice.

The answers are plausible and require employees to consider situational variables in determining the correct answer; wrong answers prompt explanations and instruction . Employees are required to continue with the exam until they answer all questions correctly .

City of Laguna Niguel I 8

WELLS FARGO
Employees who violate any provision of the Wells Fargo Code of Conduct are subject to corrective action, which may include termination of employment. Certain violations may also result in legal proceedings, including prosecution for criminal violations, impacts to the employee's licensing, and financial industry employment eligibility . In addition to the Code of Conduct, Wells Fargo maintains a Conflicts of Interest policy to provide standards for managing conflicts of interest that may financially harm a customer or create reputational risk for Wells Fargo.

Discuss the Bank's capital position, financial strength, and stability. Provide the Bank's most recent capital ratios, i.e., Tier 1 capital ratio and Total capital ratio. Provide the Bank's ratings from Standard & Poor's and Moody's.

Wells Fargo & Company is a nationwide, diversified financial services company. We are headquartered in San Francisco, but we are decentralized, so every local Wells Fargo office is a headquarters for satisfying all our clients' financial needs and helping them succeed financially. We identify key measures of our financial strength in the following table.

Key facts Measure
Capital ratios*
Risk-based capital
• Common equity Tier 1 (CETl)
• Tier 1 capital
• Total capital
Tier l leverage
Total assetst
Market capitalizationt
Website
113%
12 8%
15 5%

8.3%
$1.9 trillion
$177 1 billion
• Wells Fargo & Company Quarterly Earnings Q3 2024 wellsfa rgo com > About Us> Investor Relations> Wells Fargo Quarterly Earnings > Q3 2024 quarterly supplement
t Wells Fargo & Company Annual Report 2023 wellsfargo com> About Us > Investor Relations > Annual Reports and Proxy Statements> 2023 Annua l Report
Annual report
To access our full Wells Fargo & Company Annual Report and other supplemental reports, please go to: well:; ar:::v..dl!....:! > About Us> Investor Relations> Annual Reports and Proxy Statements.

Ratings
Wells Fargo received a rating of Outstanding on the most recent Community Reinvestment Act (CRA) performance evaluation, dated March 3, 2025. Wells Fargo subscribes to DBRS, Fitch, Moody's, and Standard & Poor's ratings agencies as indicated in the following table .* • The ,n • orma ,on provided can be f~tmd on our..:., • - ~ , • ,,_ __ -_ • site and 1s pro111oed for 1nforma,1onal purposes only We do not guarantee the accuracy, completeness, or t1mel1ness of information on or available through this site, and we are not responsible for inaccuracies or omi ssions in that information or for actions taken in reliance on that informa tion Please read ....;.., , ~ _:_p_~ before using or relying on information on or available through this site Potential investors 1n our securities should seek professiona l advice before they invest City of Laguna Niguel 19

WELLS FARGO
Wells Fargo& DBRS Fitch Moody's S&PGlobal
Company Morningstar
Outlook Stable Stable Stable Stable
Long-term Issuer AA (low) A+ Al BBB+
Rating
Short-term Issuer R-1 (middle) Fl P-1 A-2
Rating
Senior Unsecured AA(low) A+ Al BBB+
Subordinated A (high) A- A3 BBB
Preferred Stock A(low) BBB Baa2 BB+
Wells Fargo Bank, DBRS Fitch Moody's S&PGlobal
N.A. Morningstar
Outlook Stable Stable Negative Stable
Long-term Issuer AA AA- Aa2 A+
Rating
Short-term Issuer R-1 (high) Fl+ P-1 A-1
Rating
Bank Deposits AA AA Aal A+
Senior Unsecured AA AA- Aa2 A+
Subordinated AA(low) A Aa3 BBB+
Experience
Describe the Bank's direct experience in servicing municipal sector clients. Please include information such as the number of nationwide and California public agency clients, the dollar amount of public funds on deposit for each of these categories, and the Bank's knowledge of and adherence to the California Government Code and other applicable laws.

As indicated above, our Government banking team is comprised of banking, credit, and treasury management professionals who work together and seek to provide you with the industry expertise and specialization you need to make sound financial decisions.

We are highly focused on service and collaboration and provide each government client with a tenured relationship manager local to your market.

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Your relationship manager , Jeannie Kabilafkas, oversees your relationship and partners with your treasury consultant, Ryan Harlow-Nakano, to share new ideas and consult with you about your services.

Experienced treasury analysts, customer service, and implementation consultants also step in whenever needed to provide support for critical areas of your business. Our clients include federal, state, county, and city governments, as well as government agencies, authorities , and municipal utilities. We also specialize in key subsectors of the industry including public power, transportation, and state housing finance authorities.

Using experience to help solve problems
We understand the different needs and
challenges facing our government clients,
which is why we dedicate employees with
government experience to help you
maximize efficiency and take advantage of
cost-saving options. Our team members
can also help you navigate the strict
guidelines and technology challenges unique
to governments.

Whether it is advice on how to raise capital,
manage assets, or increase operational
efficiencies, we constantly share the
knowledge we have gained from other
government clients that have similar
challenges.

Making service a priority
Why Wells Fargo?
• 173-year history of serving local
communities
• Leading national bank ranked fourth in
assets by the Federal Deposit Insurance
Corporation (FDIC)*
• National footprint spanning 39 states and
the District of Columbia
• We provide $17 billion in commitments to
our government clients and hold $28 billion
in depositst
* Most current reporting by the FDIC as of September 30, 2024.
t Wells Fargo internal reporting, as of Q4 2024 .

We regularly monitor our service levels to validate and help ensure the consistent quality of the customer service that we provide. We also offer educational sessions on current treasury management topics to keep you aware of industry best practices and regulatory changes. In addition, our team presents at government conferences and educational seminars such as those hosted by the GFOA.

Striving for excellence in all that we do
We recognize that governments are always under pressure to operate more efficiently. As shown in the following table, we strive to provide our government clients with the convenient tools and high-quality service they need to help find those efficiencies.

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Global Finance
Global Finance
American Business Awards
Euromoney magazine
Nacha
Best Corporate/Institutional Digital Bank in North
America (2020)
• Best Online Portal
• Best Online Investment Management Services
• Best Trade Finance Services
• Best Integrated Corporate Banking Site
• Best Information Security and Fraud
Management
Best In Social Media Marketing and Services
• Best Open Banking APls
Best Provider of Short-Term Investments/Money
Market Funds (2022)
2020 Customer Service Department of the Year (Silver)
2022 Global Best in Service award for U.S. dollar (USD) cash management for financial institutions, Wells Fargo GPL Banks
#1 ACH Originator by volume (2023)
Compliance with California laws and regulations
We have comprehensive and carefully structured teams of legal, risk, and compliance professionals throughout our organization. These teams provide advice about banking laws and regulations applicable to Wells Fargo & Company and its subsidiaries. Additionally, these teams are responsible for regulatory compliance programs, overseeing compliance with corporate information security and records management requirements, and other operational risk policies.

We obtain and analyze newly enacted state and federal laws and regulations . Our teams maintain a database to help track proposed and enacted laws, as well as our implementation efforts of enacted laws.

Customer service
Describe how the Bank handles problem resolution, customer service, day-to-day contact, and ongoing maintenance for governmental entities. Specify whom the City will call for day-to-day banking and treasury management issues. Explain the process for elevating an issue to a higher level to obtain a quick resolution when the day-to-day contact is not responsive and whether a toll-free number for customer service will be provided.

The City will have a dedicated relationship team led by your relationship manager, Jeannie Kabilafkas. This team is dedicated to providing consultative, analytical, and qualitative service .

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Your needs are our first priority.
• The City can contact Jeannie either by email, phone or mobile phone • The City will also have access to a government relationship associate with day to day concerns or needs such as signer updates or new account requests • The City will also have a treasury management consultant, Ryan Harlow-Nakano, to contact with treasury management issues
• If it is a technical question or password resets our industry award-winning* GPL Service team is available for assistance with your services. Client service officers assist you until your issues are resolved
They take ownership of any problems or issues you encounter, from simple to complex, and navigate through any needed solutions. They are service experts who understand treasury management from your perspective and quickly respond to your questions and concerns. * 2022 Global Best in Service award for USO cash management for financial institutions by Euromoney magazine, Wells Fargo GPL Banks.

Our relationship-focused approach to our diversified set of products and services helps ensure you have solutions that are right for you - at the right time. We are your advocate, and our goal is to exceed your expectations and establish a collaborative relationship .

Relationship team
In the following table, we describe the different members of your relationship team. Each member also has a designated backup .

Relationship manager
Treasury consultant
Jeannie Kabilafkas will have overall responsibility for your relationship with us Jeannie works to coordinate the team and is your single point of contact for all of your banking services
Ryan Harlow-Nakano serves as a primary point of contact for all treasury related products and services
-------
Payables consultant
Payables account manager
Treasury analyst
Implementation consultant
GPLService
Cory Jahn will work closely with the City to match our commercial card program's capabilities with your requirements . He may also propose new ideas to streamline your processes and reduce payment costs
Your payables account manager is your principal point of contact for all aspects of your card program Your payables account manager meets with you regularly to discuss your program goals and needs
Erwin Fulgencio works closely with Ryan to provide day-to-day sales support and solutions .

They will meet with your staff and with your relationship team to define and document requirements, determine our approach to your project, and set up any new services
This team provides operational support and day-to-day service needs City of Laguna Niguel 113

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Continuity of service
Our client service officers do not have an assigned number of clients . They are trained to understand and respond to the City's needs, without interrupting your service.

Escalation process
If you have an issue our client service officers cannot solve, they escalate it on your behalf. It is the responsibility of our client service officers to use the leadership structure to assist with escalations . They may also engage technical support and key product and operational associates.

Banking services
Demand Deposit Accounts - Proposals must include comprehensive information regarding the banking services presently utilized by the City, along with an explanation of how the proposer's services can align with and enhance these existing service levels. As part of the proposal, Banks should provide the following information on electronic banking statements: the timing of receipt after month-end; the organization of the Bank statement (whether by type or chronologically, and if customizable); the availability of analyzed interest-bearing demand accounts; and the handling of canceled checks, including their return, imaging, availability of both sides, associated fees, and image retention duration.

Zero balance account
A zero balance account (ZBA) is a checking account that maintains a target balance of zero through daily, automatic funds transfers to and from a parent account.

The primary feature of a ZBA is to allow you to manage your liquidity by concentrating excess balances in one account versus managing individual accounts. By having all funds netted to a parent or lead account , you can base sweep and investment decisions on just one account. ti Control, manage, and maintain account balances
You can use a ZBA account structure to eliminate excess balances in separate accounts by consolidating them into one concentrated , parent account; this helps you maintain greater control over payroll , petty cash, investments , or other disbursements. hi How it works
You have one parent account with multiple child accounts linked to it. At the end of each business day, we automatically transfer funds to or from your parent account to bring all child account balances to zero, or to a target amount of your choice.

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Because funds are concentrated in the parent account, you only need to look at one account balance when making cash management decisions or determining if you have adequate balances to fund disbursements.

In addition , because the funds transfer automatically, you do not need to initiate manual transfers to fund disbursements or concentrate deposits.

WellsOne® Commercial Checking
A WellsOne Commercial Checking account can help centralize your cash for maximum return. You also have the freedom to collect receivables and make disbursements in the way that makes the best sense for your organization .
'' How it works
Make deposits and originate payments
With a WellsOne Commercial Checking account, the City can make secure deposits through the deposit channels of your choice, including :
• Cash vault
• Lockbox
• Remote deposit
You can make outgoing disbursements by ACH, wire transfer, and commercial card.

Help offset fees
The WellsOne Commercial Checking account also offers an ECR which you can use to offset treasury management service fees. It helps reduce your overall out-of-pocket banking expense.

Bank electronically
Additionally , our balance reporting, check imaging, and inquiry features - available on our on line banking platform - provide daily account visibility. You can use multiple fraud prevention services, such as positive pay* and payment authorization* . You can also have confidence knowing that your account is FDIC insured up to the full limit allowable by law. * Additional fees apply.

Bank statement timing
Electronic bank statements are available on line one to two business days after the accounting period ends.* Paper bank statements are mailed within three business days of your cutoff date .

We encourage you to use electronic bank statements so you are able to access your information sooner and help save resources.
* Statement availability varies by account type and services used.

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Accounts with Full and Partial ARP
For all accounts with our Full ARP solution or Partial ARP with positive pay solution, we generate account reconciliation statements on the third business day after the cycle date. We make them available online the morning of the fourth business day.

We generate statements for accounts with our Partial ARP without positive pay solution on the cycle date. We make them available on line the next morning.

We mail reports and statements one to six business days after the cycle end date.

Interactive Client Analysis Statements
You can access your Interactive Client Analysis Statements through our on line banking platform.

This information is available electronically one calendar day after the previous month's statement data is generated.* The features and benefits of this service include the ability to:
• Track costs and monitor trends
• Access statement data for 13 months
• Compare current balances, activity, and charges to prior months • Drill down to more detailed views with flexible formatting such as HTML, PDF, Excel, CSV, and ANSI Xl2 822
• View graphic representations of analysis data trends
* The billing period closes on the last calendar day of the month . Our system consolidates the monthly activity in five business days and generates the client analysis statement on the next calendar day. per our service levels.

Trend analysis
You can monitor account summary information for the current monthly statement and compare it with the previous 13 months to spot trends in account activity. You can access trending information, both graphically and numerically.

Canceled checks
We capture images of paid items and provide them through three delivery channels:
• Online
• In an image transmission
• By API
We provide access to images of checks and documents- including paid items, returned items, and adjustment images - through our on line banking platform.

Images
Paid and deposited items
With our Transaction Search service, you can search and retrieve images of paid and deposited checks. You can view images on line and download them in PDF.

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Images are available by 6:00 a.m. Pacific Time the business day after posting. Some images may also be available on a current day basis. Images are available for seven years.

Returned items
Images of returned items are available through our online Returned Items service and our Image File Import service. You can view images online in HTML format. You can also download and save the image in PDF. We provide archive-ready files and PDF files through our Image File Import transmission service.

We maintain online images of returned items for 180 days. After 180 days, you can request returned item images from GPL Service team . They can access images dating back seven years.

Adjustments
You access deposit adjustment information on line that includes the adjustment reason and transaction details. When available, images of corrected checks are included with the notice. You can view images online and download them in PDF.

Adjustment notices are available through our Statements and Notices service for 180 days. After 180 days, you can request a copy from GPL Service for a period of seven years.

Please refer to the pricing proposal for any applicable fees.

Collateralization of deposits
Per California Government Code Sections 53651 and 53652, Banks are required to collateralize public funds deposits. Bank proposals should detail the Bank's procedures for collateralizing public funds deposits; the types of securities used as collateral; the Bank department responsible for tracking deposits, monitoring collateral, and filing reports; the current dollar amount of California public fund deposits and related collateral; frequency of reporting to the State Treasurer's Office; and a copy of the Bank's Contract for Deposit of Moneys.

Our public funds deposit collateralization program complies with all applicable statutes and regulations governing public funds deposits, including the pledge and perfection of collateral.

Identifier codes - used on public funds accounts- trigger collateralization. We determine collateral needs based on the prior day's close of business deposit account balance. However, we can accommodate same-day collateral requests upon sufficient, advanced notification of an incoming deposit.

The Public Fund Database generates daily reports that allow us to monitor daily deposit balances, FDIC amounts, and collateral requirements . We collateralize deposits by using securities that maximize the bank's liquidity while meeting all applicable collateralization requirements.

Wells Fargo obtains market value from established third-party services. The collateral value is mark-to-market daily.

Additionally, Wells Fargo Bank does comply with requirements of State Statute and California Government Codes and not the customer's investment policy. All public California entities are collateralized under the California Local Pool Program, administered by the pool administrator .

Wells Fargo Bank pledges collateral that is permissible under state statute.

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Public Funds Collateral Management Team is responsible for monitoring col lateralization for the pool. The total deposits requiring collateral is $2,684,119,730* and collateral value was $3,493,127,520.
* Internal Wells Fargo data as of January 31. 2025 .

There are internal procedures in place to ensure we are compliance with statute as it pertains to col lateralization by reviewing prior end of day balances daily and reporting to State Treasurer. We report weekly and quarterly.

Please refer to Tab Bin the Appendix section for a sample contract of moneys deposited.

INVESTMENT PRODUCTS: NOT FDIC INSURED• NO BANK GUARANTEE• MAY LOSE VALUE Bank compensation
Proposals should outline the Bank's compensation structure and payment methods; indicate the duration of the Bank's fixed prices, as provided in this proposal and the Banking Services Bid Form (Attachment B); indicate what the Bank's Earnings Credit Rate (ERC) is based on and the ERC calculation methodology; indicate actual ERC for each of the past 12 months and provide the calculated level of compensation balances (after float and reserves) needed to offset one dollar of Bank services using the ERC for January 2025; indicate the payment methodology for any analysis deficiencies; explain how and when the FDIC assessment is computed and charged.

We accept compensation in fees, balances, or a combination of the two. The same fee schedule applies for all compensation methods.

Our standard process is to directly debit your account each month. We set our standard earnings credit rate (ECR) internally each month after evaluating a combination of factors including changes in the Fed Funds Target rate and competitor ECRs. We do not use indexes, such as the Treasury Bill (T-Bill), to set the standard rate.

We set the rate at our discretion and may adjust it during the month to react to market changes.

We are offering an ECR rate of 2.00% (subject to change due to market conditions). The following table lists our ECR for the previous twelve months.

Month Earnings credit rate
February 2025 1.40%
January 2025 1.40%
December 2024 1.65%
November 2024 1 65%
October 2024 165%
September 2024 1.65%
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Month Earnings credit rate
August 2024 165%
July 2024 165%
June 2024 1.65%
May2024 165%
April 2024 165%
March 2024 165%
We do not deduct a reserve requirement prior to calculating the ECR. We calculate your earnings allowance on 100% of your investable balance (also called average daily positive collected balance).

FDIC assessment
We charge a recoupment fee * to recover a portion of an assessment from the FDIC. The monthly rate may change at any time . The charge is the monthly rate per $1,000 of you r positive average ledger balance for the month . Your account analysis statement details this fee as an individual charge.
* The FDIC charges each insured bank a fee to cover its share of the cost of providing deposit insurance to depositors. The FDIC does not charge a bank's depositors for deposit insurance or require banks to pass the cost of deposit insurance on to their depositor s. The FDIC does, however, permit a bank to recoup the cost of deposit insurance from its depositors, so long as the fee the bank charges its depositors does not reveal information that could be used to determine the bank's confidential supervisory ratings or mislead depositors by impl ying the FDIC is charging the fee. A bank assesses this recoupment fee to partially recover insurance premiums it pays to the FDIC for deposit insurance, The amount of the recoupment fee appears on the periodic statement or client analysis statement for your account and is based on the monthly average ledger balance the City maintains in your account. The recoupment fee is subject to change by the bank at any time without notice. For questions about the recoupment fee, contact your relationship manager at Wells Fargo.

Additionally, proposals should include the Bank's settlement period for acco.unt analysis and billing purposes; how the Bank calculates the balance available to support activity; the calculation of the Average Daily Balance and the measurement of Average Float (Uncollected Funds); identify the Reserve Requirement Rate and negative collected balance charge; outline the Account Analysis reporting process, availability and timing of reports, and the procedures used to make any adjustments to Account Analysis statements. Please include a sample Account Analysis statement in the proposal.

Our standard settlement period is monthly . We also offer quarterly, semi-annual , or annual settlement. We produce client analysis statements every month regardless of the settlement period you choose.

Our standard is to settle monthly by a direct debit to the designated billing account . By request, you can carry excess balances forward to cover charges or offset a deficit incurred in subsequent months. Excess balances cannot be carried beyond one calendar year.

Any shortfall due is debited from the billing account on the 11th calendar day of the month.

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Account analysis
To make the most of your balances, you can group accounts into a single relationship for analysis and earnings allowance purposes. We aggregate total charges and the total earnings allowance at the relationship level. We also aggregate balances in all accounts (excluding controlled disbursement accounts) in the same relationship to determine the earnings allowance and to offset fees.

If you need to segregate billing for certain entities within your organization, you can set up multiple analysis relationships that only include accounts for each of those specific entities.

Each account within a relationship also receives individual account analysis statements . Clients who use our subaccounting service can also choose to receive individual account analysis statements for each subaccount.

Your treasury consultant can assist you in configuring your account analysis structure to best fit your specific needs.

Reporting
Although we calculate the earnings allowance at the relationship level, we can provide reporting at two additional levels - summary and intermediate - as described in the following table.

Reporting option
Summary level
Intermediate level
Statements
Description
These report s summarize balance and volume dat a fo r multipl e relationships As an exampl e, an organization made up of multiple subsidiaries that require segregated billing can use a summary level statement to provide an overview of its entire Wells Fargo t 1·easury management relati onship
These reports provide a summary of balance and volume data for a part icular group of accounts linked to one relationship. You can have multiple intermediate levels within a relationship . Typically, clients use intermediate level statements for regional or divisional reporting .

We are one of the few f inancial institutions that offers an online interactive analysis statement.

With our interactive statement, you can trend up to 13 months of analysis history and see a quick overview of changes in your activity and pricing .

Our interactive client analysis statement is available electronically one calendar day after the previous month's statement data is generated.* With a single sign-on, you can view detailed product subtotals as well as volume and pricing for services you used. You can view the interactive statement on line or download it in PDF, Excel, HTML, CSV, or ANSI 822 formats. * The billing period closes on the last calendar day of the month . Our system consolidates the monthly activity in five business days and generates the client analysis statement on the next calendar day, per our service levels.

Earnings allowance
You receive a monthly account analysis statement detailing fees, the ECR, and any fees due.

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The earnings allowance is based upon the ECR and balances (excluding controlled disbursement accounts) . The same price schedule applies, regardless of the earnings allowance. We debit your account after each billing period for the fees in excess of the earnings allowance; however, your treasury consultant can discuss alternative payment options and billing periods with you.

We use an ECR to calculate the amount of fees offset by balances. The ECR is set internally on a monthly basis at our discretion and may be adjusted during the month to react to market changes.

We calculate your earnings allowance based on 100% of your average daily positive collected balance. We do not deduct a reserve requirement prior to calculating the ECR. Your earnings allowance is calculated using the following formula:

Collected balances
The average collected balance stated on your account analysis statement is a net of positive and negative balances. We base your earnings allowance on your investable balance (also called average daily positive collected balance). When calculating this figure, we do not net the positive and negative balances.

Excess balances
We do not carry forward your excess balances beyond your monthly settlement period. We also do not use a reserve requirement in our balance calculations .

Adjustments
We list adjustments on your analysis statement in a balance adjustments section. The balance shown includes any adjustments for that cycle. If you identify an error, you have up to 60 days from the receipt of your analysis statement to notify us. We typically apply the adjustment to the billing period in which it occurred and reanalyze the statement.

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Deposit activity
The City currently does not utilize an armored transport service. Describe what the Bank offers for armored transport services and include pricing on the Banking Services Bid Form. Total monthly deposits consist of pre-encoded checks, coins, and currency. The estimated monthly volume can be ascertained from the information provided directly behind the Banking Services Bid Form (Attachment B). Deposited items should be automatically re-cleared once. The City requires the ability to use the local branch to make branch deposits, to get change, and for other miscellaneous activities. Proposals should identify a full-service branch location within the City of Laguna Niguel.

Wells Fargo does not provide an armored courier . The City is responsible for contracting with an armored courier such as Brinks, Garcia or Loomis . Or you can contract with Deposita who provides end-to-end service, management, and oversight of all smart safe related features including delivery of your deposits to the designated cash vault site . The contract is between you and the smart safe provider.

Wells Fargo has four branch locations available to you for branch deposits. Please refer to the bank overview section for locations.

Proposals should provide a detailed description of the deposit process, the procedures for handling deposit adjustments and accompanying documentation, the Bank's returned item handling and notification procedures, and deposit cutoff times. The City is exploring the option to utilize remote deposit processing. Proposals should overview the Bank's remote deposit service options, including applicable procedures, timelines, security measures, and any applicable additional costs for utilizing remote deposit services.

Deposit process
If you use our post verify service - so that we verify your cash deposit after you leave the branch -we require the City to make your deposit in a secure, plastic, tamper-evident, dual-pouch bag.

Each bag must contain a bar code, as well as a unique 10-digit serial number on a tear strip, that you retain as a record .

Insert cash in the tamper-evident portion of the bag (top section). Place checks and the deposit ticket in the resealable portion of the bag (bottom section) .

Night depository
The procedures for night deposits are the same as those for post verification. The City will make your deposit in a secure, plastic, tamper-evident, dual-pouch bag. Each bag must contain a bar code, as well as a unique 10-digit serial number on a tear strip, that you retain as a record.

Insert cash in the tamper-evident portion of the bag (top section). Place checks and the deposit ticket in the resealable portion of the bag (bottom section).

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Deposits to a cash vault
Deposits made to a cash vault require a secure, plastic, tamper-evident deposit bag. Each bag must contain a bar code, as well as a unique 10-digit serial number on a tear strip, that you retain as a record .

If you are submitting split deposits, you insert cash in the top section of the bag. Place checks and the deposit ticket in the bottom section . If you are submitting mixed deposits, you insert cash, checks, and the deposit ticket in the deposit bag.

Deposits to ATM
Using your business ATM deposit card, the City can deposit cash and checks at any of our Wells Fargo deposit-enabled AT Ms. The deposit preparation steps are as follows:
• Make deposits in batches of up to 30 items (cash and bills together) • Deposit cash and checks directly into the ATM -you do not need to use an envelope or deposit ticket
Deadlines
You receive same-day ledger credit for deposits you submit by 7:00 p.m. Pacific Time .

We do not offer a later deadline. Deposits you submit after our deadline receive ledger credit on the next business day.

Adjustments
We provide deposit adjustment notices that you can view on line through our Statements and Notices service. You can access updates Monday through Friday through our online banking platform at 11:00 a.m., 3:00 p.m., and 8:00 p.m. Pacific Time.

You can also choose to receive email or text message notifications that let you know when deposit adjustment notices are available for viewing . If you prefer , we can send notices to you by mail.

Returned items
Processing returned items can be a burden on your staff. You can improve the efficiency of your process with handling instructions, reporting, and electronic returned items. These time saving steps can help you reconcile, research, and collect on returned items .

N Processing instructions
During implementat ion, you tell us whether you will follow our standard processing instructions or set up special instructions, as described in the following table.

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Standard instructions
Automatically redeposit non-Wells Fargo items
less than $300 that are returned for insufficient
funds (NSF) or uncollected funds (UCF)t
Debit the depository account for chargebacks
Post all returned items to the depository account
in one lump sum per day
Mail all returned items (originals or image
replacement documents) and standard notices by
U.S. mail to the statement address on our system
• Addit iona l fees apply for some special instruc t ions Special instructions*
Automatically redeposit all items (regardless of
amount) returned for NSF or UCF
I
Redeposit all Wells Fargo items less than a
predetermined dollar amount
Post separate debits for each returned item to the
depository account*
Mail physical items or additional copies of the debit
advice to an alternate address*
Charge back items to an account other than the
depository account*
I
Key additional data (such as maker name, phone
number, and address) on the advice*
t We cannot redeposit items returned for any reason ot her than NSF or UCF N Optional service
Electronic returned items
With this optional service, we can automatically convert eligible paper returned items into ACH debits. This conversion allows us to make up to two re-presentment attempts (instead of only one with the paper deposit process), which can help increase your collection rates.

Consumer checks of less than $2,500 that are returned for NSF or UCF are eligible for this service.

Remote deposit
You can potentially save both time and money by using our remote deposit service to electronically deposit checks into your Wells Fargo account . Our service eliminates the need for your employees to make trips to the bank to deposit checks and provides an extended deposit deadline of 7:00 p.m. Pacific Time.

Our service can also help you consolidate your banking relationships because you no longer need to maintain accounts at local banks that have physical branches near your locations. Fewer banking relationships can help you save money on account maintenance fees and reduce the time spent reconciling multiple bank accounts.

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ta How it works
With our remote deposit service, you can capture check images, balance deposit totals, and make deposits using one of two channels - our on line banking platform or our mobile application .

Using an approved check scanner and computer with internet access or using a mobile device with a camera, you can capture check images for deposit. Next , you confirm the check dollar amounts, verify the deposit balances, and submit the deposit to us. You receive a prompt confirmation and can view deposit detail and images on line and on our mobile application .

The following diagram shows the remote deposit process flow.

Receive
checks
►
Capture
checks
-- - ►
Review and
submit deposit
►
View deposit
detail and images
If you enroll in our Alerts service, we can send authorized users a deposit confirmation notice by email or text message.

II Features
Image access
We store check images on our servers . They are immediately available on line through our remote deposit service for 90 days and also on line through our Transaction Search service for seven years.

Custom fields
Using multiple discretionary data fields, you can enter customized information about the checks that you deposit. This feature lets you search for checks using your own criteria and makes it easy to upload data into your accounts receivable system . Our quick-data feature simplifies the capture process by automatically recalling your previously entered receivables data on certain fields.

Branch location
The closest location to your office location is located at 30160 Town Center Drive. The full-service branch is 0.35 miles from your City Hall office location.

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Wire transfers
The City currently transacts wire transfers online but typically does not send outgoing wires.

The City does receive several incoming wires per month. See the information provided directly behind the Banking Services Bid Form for monthly volume (Attachment B). Proposals should describe the Bank's online wire transfer capabilities and process, applicable deadlines for initiating wire transfers, safeguards, security measures, and any applicable costs associated with incoming and outgoing wire transfers.

With our wire services, you can send and receive domestic and international wires and transfer funds between your accounts quickly, easily, and securely.

Incoming wires
We accept wires and wire messaging from Wells Fargo accounts and the following networks :
• Federal Reserve
• Clearing House Interbank Payments System (CHIPS)
• Society for Worldwide Interbank Financial Telecommunication (Swift) If we receive a wire with your valid account number before the processing cutoff time, we credit the funds to your account the same day.

Outgoing wires
We process outgoing wire transfers on a straight through basis according to your instructions . We manually review, correct, and verify any wire that does not pass our initial screening and that our system cannot correct automatically . If we cannot repair a wire, we return it.

Our wire system confirms your available funds automatically and verifies that wires are not going to a country or beneficiary on the U.S. Treasury's Office of Foreign Assets Control (OFAC) Specially Designated Nationals Blocked Persons list. If a wire meets these requirements , we release it.

N Schedule and deadlines
Incoming wires
We accept incoming Fedwires unt il 4:00 p.m. Pacific Time and incoming CHIPS wires unt il 2:00 p.m. Pacific Time for same-day credit. We process incoming Swift transactions for same-day credit until 4:00 p.m. Pacific Time.

Wires formatted incorrectly or containing inaccurate information may post to your account the next day.

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Outgoing wires for U.S. accounts
The following table includes the opening times and cutoff times- by transfer type -for same day execution of initiated wires on U.S. accounts. The same times apply for all of our wire initiation methods, including on line, mobile, file transmission, and telephone .

Pacific Time
Wire type Opening time Cutoff time (PT)
(PT)
Fedwire 5:00a m. 3:15 pm .

CHIPS 5:00a.m. 2:00 p.m.

Drawdown request 5:00am . 2:30 pm
Swift 5:00a.m. 2:30 p.m.

Request for Funds 5:00am . 230 pm.

Transfer (RFT)
U.S. Federal tax 5:00a.m . 2:00p .m.
payments
Within 500 a.m. 5:00 pm
Wells Fargo*
* Transactions within Wells Fargo move funds from one Wells Fargo account to another You can originate these transactions using all of our origination channels and move them to all of our available accounts Safeguards
To help prevent fraud, we maintain a variety of internal controls within our wire transfer system and at our operations centers .

Internal controls
System
Our wire transfer operations system requires complete segregation of duties so that the same operator cannot initiate and release a wire. Additionally, we require a second level of approval for wire repair changes. Terminal and user security settings help us maintain these controls.

Personnel
We carefully screen all our wire transfer operations employees using a process that includes fingerprinting, comprehensive background checks, and insurance bonding. Entry into the wire transfer operations area requires security access.

Regulatory
To monitor compliance with our security policies and federal regulations , we conduct annual internal audits of our wire transfer operations.

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Controls by wire initiation method
The following are our fraud controls for our wire initiation methods .

Online wire and mobile service
We require dual custody to initiate free-form wires and create and maintain wire templates within our online banking platform. We also require dual custody to entitle users to wire services. With dual custody, completing tasks requires two users: one to initiate the transaction or change and a second to approve it. The second approver must also initiate the approval on a separate computer or mobile device.

Consolidated payables
Automated transmission
We authenticate and encrypt electronic payment files you send to us directly from your enterprise resource planning (ERP) system, treasury workstation, or other accounts payable (AP) system.

Security elements vary according to the internet protocol you choose and may include the following:
• Digital certificates issued by us
• ID
• Key
• Password
• Pl N and token code
• PGP encryption
• Connect:Direct (NDM) with Secure+
Manual file upload
To upload payment files manually into our online banking platform, users must enter sign-on identifiers and a token passcode.

Fraud
Electronic and online wire fraud continue to concern many organizations. According to the 2023 AFP® Payments Fraud and Control Survey Report,* 65% of organizations reported being the targets of payment fraud in 2022, with 45% of them reporting payment fraud through wire transfers.
* "2023 AFP Payments Fraud and Control Survey Report , Association of Financial Professionals, ,{Q_',i'_ "e,;:; c'~a ''< -;_'.ii,-"'-"• Like many financial institutions, we are not immune to the threat - our clients have been targeted for fraud. That is why we stay up to date on the threat landscape and help our clients strengthen their defenses. As your banking provider, we can help educate you and your staff on services, best practices, and tips on how to help protect your organization.

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Automated Clearing House (ACH) service requirements
The City, through a third-party payroll processing company, utilizes direct deposit services for the City's bi-weekly payroll. The vast majority of City employees take advantage of the direct deposit service. Proposals should describe the Bank's direct deposit services in detail, including the software requirements and transmission options available; discuss the screening measures the Bank uses to minimize errors on files sent to the Bank, including the processes and timing available for file/error correction and security measures; and indicate the transmission deadlines for direct deposit ACH files, including the date and time when the Bank needs the file from the City and when funds are debited from the City's account. Proposals should also describe the measures the Bank takes to mitigate fraud involving ACH payments and direct deposit payments issued.

With our service, you can deposit your employees' payroll, expense reimbursements, and other work-related payments directly into their checking or savings accounts using the ACH network.

N Our ACH payroll direct deposit service offers
Flexible origination timing
You can send payment files 24 hours a day, seven days a week; cutoff times vary by settlement target. If you send a file after the established cutoff time, or with the effective date of a holiday or weekend, we process the file on the next business day.

Multiple settlement options
One-day and two-day settlements put payments in your employees' accounts on payday morning.

Same-day settlement puts payments in employees' accounts by 1:30 p.m., 5:00 p.m., or the end of the receiving bank's processing day (local time). Your choice among three processing deadlines determines when receiving banks make funds available.*
• Following Nacha's Same Day ACH Rule, we make settlement activity available to you by the end of the processing day on the same business day that we generate the settlement transaction for your originated credit entries N How it works
You submit payment information in an electronic file format approved by Nacha. You can choose from the following options:
• Use software to create Nacha-formatted files then transmit them to us • Use our on line banking platform to create on line templates • Send consolidated payables files to us
• Use AP/ technology configured for your treasury workstation, ERP platform , or accounting system
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Within 15 minutes of receipt of your file, we supply an electronic file confirmation. Our system reads the file and then delivers payroll entries to your employees' accounts .

The following workflow illustrates the payroll direct deposit process.

You initiate
an ACH file
0 N Deadlines
Wells Fargo ACH
system processing 0
--►
ACH network
processing
0 ----
Credit your customers'
accounts at Wells Fargo
Credit your customers'
accounts at other banks
The following table provides the file deadlines for the three daily processing windows.

Same-day ACH daily File origination deadline Funds availability processing window ·.t
First
Second
Third
6:00a.m. PT
10:00 a.m. PT
1200 p.m. PT
1:30 p.m. local time
5:00 p.m. local time
End of the receiving bank's
processing day
• Bank-to-bank (transi t) transactions fo r more t han $1 .000,000 and interna t ional ACH t ransact ions (IA T) are not eligible for same-day ACH
t If you send an on-us transaction, both the originating and receiving accounts must be Wells Fargo accounts The tra nsaction limi t for Nacha's Same Day Rule does not apply to on-us transactions The deadline for same-day on-us ACH t ransactions is 6:00 p m Pacific Time
Our transmission service supports multiple protocols to transfer files: HTTPS, FTPS, SFTP, and AS2. You can choose to use IP filtering to help ensure connections originate from an IP address specified for a user ID.

Encryption
All of our supported internet protocols require session-level encryption. The encryption type varies based on the transmission method you select. Our supported protocols use secure sockets layer (SSL) or secure shell (SSH) encryption to protect data in transit between the City and Wells Fargo. You can also add Pretty Good Privacy (PGP) for additional security. We do not require additional encryption at the file level.

NDM transmissions require a Secure+ add-on, which encrypts the session with SSL. Two NDM options also require use of a Wells Fargo-provided encrypting router.

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Authentication
We issue specific credentials to you that authenticate transmissions and grant access to our transmission facilities. When you transmit your files to us, we require certain credentials. If the credentials do not match what we are expecting, we will not allow you to send the file to us.

Describe the program used by the Bank to facilitate these vendor payments, including the software requirements, transmission options available, and historical data accessible in the online banking portal. Provide a sample ACH Authorization form for commercial ACH recipients.

You can initiate preauthorized debits to your clients' accounts for recurring or other customer approved payments .

Common direct payments
Charitable or political contributions
Dues
Insurance premiums
Internet and mobile purchases
Investments
Mortgages and other loans
Subscriptions
Utility payments
N Our ACH direct debits service can help you
• Reduce payment processing costs
• Receive faster funds availability
• Improve collections
• Reduce return items
• Enhance customer retention
This automation can also benefit your clients by helping them avoid late payment penalties .

Ill How it works
First, you request and receive authorization from your clients. Then, you initiate electronic debits to your clients' checking or savings accounts using one of the following input methods:
• Use your own software to create Nacha-formatted files that you can transmit directly to us • Use our on line banking platform to create online templates • Send us consolidated payables files that include your ACH transactions • Use API technology to integrate ACH initiation directly into your treasury workstation, ERP platform, or accounting system
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As an added convenience when initiating debits through our on line banking platform, you can use our mobile service* to approve ACH payments and templates that require immediate attention.

Mobile users can view, approve, and delete payment batches and payment templates.

The direct debit amounts (payments from your clients to you) can be fixed or variable, depending on the authorization.
* Download the latest version of the Vantage5M app available for your device from the Apple App Store® or Google Play™ store.

You initiate
an ACH file
Features
0 --►
Wells Fargo ACH
system processing
►
ACH network
processing
e
Debit your customers'
accounts at Wells Fargo
► Debit your customers'
accounts at other banks
You can send payment files 24 hours a day, seven days a week; cutoff times vary by settlement option. If you send a file after the established cutoff time, or with the effective date of a holiday or weekend, we process it on the next business day.

Each ACH channel used to submit files offers three settlement options.* • Two-day
• Next-day
• Same-day
* Same-day ACH for bank-to-bank (transit) transactions has three daily deadlines Other settlements have one deadline On the settlement date, we credit your account for all direct payments, and the receiving financial institution posts individual debit transactions to your clients' accounts.

For one-day and two-day activity, we make the settlement available to you the morning of the effective date of the debit entries. For same-day activity, we follow Nacha's Same Day ACH Rule.

We make settlement activity available to you by 1:30 p.m., 5:00 p.m., or the end of the receiving bank's processing day (local time) on the same business day that we generate the settlement transaction for your originated debit entries. Your choice among three processing deadlines determines when receiving banks make funds available.t
t Following Nacha's Same Day ACH Rule, we make settlement activity available to you by the end of the processing day on the same business day that we generate the settlement transaction for your originated debit entries.

Our on line ACH service is internet based and operates within a web browser through our on line banking platform. The system requires you to use a web browser that supports 256-bit Secure Hash Algorithm (SHA) encryption.

Hardware requirements are specific to the operating system and browser you are using.* * To verify hardware requirements, please refer to the vendor or manufacturer of your operating systems or browsers that we support.

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The City can find sample authorization forms, along with ACH marketing and promotional materials, at nae ha.ore and educational info rmation at h::.:cs: lc,r _c ..;epo i:.urG/.

Payee positive pay
The City currently issues over 250 Accounts Payable checks monthly and utilizes Payee Positive Pay services for all checks issued for its disbursement accounts. In addition, the City processes approximately 150 Payroll checks (via direct deposit) on a bi- monthly basis.

Acknowledged .

Proposals should include a detailed explanation of the Bank's full ability to provide Payee Positive Pay services and Full Account Reconcilement services; data transmission capabilities and procedures offered through Positive Pay; how long Positive Pay information is retained in the system and duplicated check procedures; explain the method for sending and receiving Positive Pay data for exception items, applicable procedures, format specifications, and timelines; describe the Bank's on line stop payment services and features; process for manual checks issued by the City sent to the Bank for inclusion in Positive Pay; online check imaging for exception items; verification process for Teller Positive Payee; applicable fees for Positive Pay services, and a sample Positive Pay report .

Optional Payee Validation service
We offer an optional Payee Validation service. You include payee names with your check issue information. We validate payee names on all checks presented for cashing* at our teller lines and on deposited checks above a threshold dollar amount Payee matches are paid, and we report payee mismatches through our on line fraud management tool so that you can make pay or return decisions online.
* If the payee is not a Wells Fargo customer, the payee will be charged a check cashing fee when a check is presented for cash at a Wells Fargo location . Alternatively, the City has the option to pay the check cashing fee as part of your account analysis.

Account reconciliation
With our Account Reconciliat ion Plan (ARP) and automat ed reporting services, you can reconcile your disbursement accounts more quickly and efficiently . Our Full ARP and our Part ial ARP services can also help save you time by identif ying checks and electronic tran sact ions as paid or outstanding .

N With ARP, you have the potential to
• Reduce accounting cost s and increase productivity
• Impro ve cash control and receive faster , accurate payables informati on • Increase your audit control
• Help detect and reduc e your exposure to check fraud
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14 How it works
Full ARP
I>
You provide issued check
information
I>
Wells Fargo reconciles
your paid checks to your
issued checks and sends a
detailed statement
I>
You request reports
such as paid checks,
outstanding checks,
and stop payments
You first provide us with your issued check information on line or by transmission. This includes stops, voids, and cancels. When you use our online option, you can manually enter the check information or upload a file containing up to 1,500 registers in a single batch . You can submit multiple batches daily.

Within 90 minutes of your submission, you can receive an optional file confirmation. We update check issue information more than 50 times each day, seven days a week.

Our Full ARP service reconciles your paid checks to your issued checks and provides a comprehensive statement of your activity on a weekly, biweekly, or monthly basis. You can also receive a variety of optional reports daily, weekly, or monthly in PDF, Excel, CSV, flat file text (transmission}, and paper formats. The PDF and paper formats can include sorting and subtotaling by location or high-order prefix.

Next-day positive pay
Our next-day positive pay service compares checks presented against your account to your issue file information after the checks post. We review all positive pay exceptions, and we reverse checks that we can correct (such as those with encoding errors} and repost them to your account the following business day. This feature saves you time and money because we research and resolve the majority of your exception items for you.
-.... -.... -.... -.... -....

Upload check Distribute checks Checks post to Exceptions Review and Returned items issue file to payees your account flagged decision items reversed & credited _,,.. _,,.. _,,.. _,,.. _,,..

The following table provides the service delivery and decision response deadlines. The City accesses the reports and enters decisions using our on line banking platform.

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Next-day positive pay exception reporting
Option 1 Option 2
Receive exceptions by 7:00 a.m. PT.

Make your decisions by 12:00 p.m. PT.

Receive exceptions by 9:00 a.m. PT.

Make your decisions by 2:00 p.m. PT.

Create a check issue record
We do not automatically add approved exceptions to your check issue file. Instead, we give you the option to create a check issue record for the exceptions you choose to pay. The following screen shot shows where to click Create Check Issue after you have selected the pay decision . c .. .- i--.... I
, ..... -- -· ~- J'. ....

Check issue deadline
The City will need to send check issue records to Wells Fargo prior to distribution of the checks. If we receive your check issue file prior to 8:00 p.m. Pacific Time, then we update your check issue information in our system that day. This deadline helps ensure that we have the most recent check issue information to compare with checks presented for payment .

To avoid exceptions, you should distribute checks on or after the issue date . If you send a future dated issue record, that information will not be available for positive pay in our system until the morning of the issue date.

Check issue file
We offer several options for providing your issue files to us:
• Transmit check issue information to us through one of our secure file transfer protocols • Upload check issue information using our on line fraud management tool • Send check issue information to us through our Positive Pay API* * Positive Pay API service is available subject to applicable produ ct eligib ility requirements .

Manuel check issue information
The City can send manual check issue information, including voids and cancels, using our on line fraud management tool. You can update your check issue records 24 hours a day, seven days a week.

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ACH debit block
The City is interested in utilizing ACH Debit Block on all its bank accounts. Please describe the Bank's ACH Debit Block service.

ACH fraud filter
Our ACH Fraud Filter service helps protect your accounts by identifying potentially fraudulent transactions. You then review the transactions and decide what to return, stop, or allow. You can access our service and make pay or return decisions through our online banking platform and mobile app* .
* Download the latest version of our Wells Fargo Vantage app available for your device from the Apple App Store or Google Play store . • Convenient and customizable
With our service, you have the option to:
• Review and stop debits, credits , or all transactions • Preauthorize which ACH transactions can post to your account without prior review • Customize your preauthorizations by setting dollar thresholds, date ranges, and other criteria
• Receive all ACH payment information so you know who is attempting to send transactions to your account
• Set account limits and company ID limits
• You can set account limits for each of your accounts and set a separate account limit for debits and credits. Any transaction that is less than your account limit will automatically bypass ACH fraud filter and post to your account.
• If you want certain transactions to bypass the ACH fraud filter service and post to your account, you can preauthorize them by the Company ID that originated the transaction.

Preauthorizations are not stopped (for accounts with the Stop option) or flagged for review (for accounts with the Review option). When you set up a preauthorization for a specific company, it overrides the account limit .

You have 24 hours to make a return request. And since we filter the transactions for you based on your established criteria, we present only the ones we identify as potential threats.

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How it works
Review option: You decide what to return

1. Review: You preauthorize ACH transactions to post to your account. You can review and make decisions on all,just credit, or just debit transactions. You can further look at transactions that exceed a dollar amount, date range, or number of occurrences.

2. Decision: Through our on line fraud manager tool, we notify you of any transactions that are not preauthorized . You review those transactions and tell us whether you want them paid or returned.* When you tell us to return a transaction, we create a reversing adjustment and then return it as unauthorized* If you do not make a pay or return decision on an item by the specified deadline, the item is automatically paid or returned based on the default action you select during implementation.

Stop option: Automatically stop unauthorized transactions With our stop option, we automatically return transactions that you did not preauthorize.* You can request that we stop and return all:
• ACH transactions
• ACH transactions that exceed a predetermined dollar amount • ACH credit or debit transactions only
• ACH credit or debit transactions outside a predetermined dollar range • ACH credit or debit transactions outside a specified date range • ACH credit or debit transactions that exceed a specified maximum number of occurrences * Excludes transactions originated by internal Wells Fargo originators, such as Account Analysis fees and settlement entries, that you have authorized to the account .

II Best practices and optional features
Monitor your transactions daily
We recommend that you sign on daily to monitor your ACH transactions. You can also receive a notice by email or text* when an unauthorized ACH transaction posts to your account. You can request that we inform you about:
• ACH transactions posted to your account
• ACH transactions that exceed a predetermined dollar amount • ACH credit or ACH debit transactions only
• ACH credit or debit transactions that exceed a predetermined dollar amount • ACH credit or debit transactions outside a specified date range • ACH credit or debit transactions that exceed a specified maximum number of occurrences * Our alerts service has an addition al fee.

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Block converted checks
Our eCheck option, for no additional fee, helps you monitor converted check entries for business sized checks that have an auxiliary on-us field in the MICR line. This service includes eCheck Post and eCheck Stop options for accounts receivable check (ARC), back office conversion (BOC), and point-of-purchase (POP) transactions .
eCheck Post
If you use the eCheck Post option in conjunction with our next-day positive pay service, you can see unmatched items that post to your account. You use our on line fraud manager tool to indicate your decision to pay or return them.

If you use the eCheck Post option with our same-day positive pay service, we do not match ACH converted checks against your check issue records. Instead, we call you for instructions to pay or return the converted checks.
eCheck Stop
If you choose the eCheck Stop option, we automatically stop all ineligible items inadvertently converted before they post to your account.

Payroll tax processing
The City's third-party payroll processor handles payroll tax processing through a bi-weekly ACH debit directly from the City's account. Please describe the Bank's payroll tax withholding services, if that is a service that is offered, and what the related costs are.

The City can choose from two convenient payroll tax payment services: WellsTAX 5M Payments and on line ACH origination. Both help eliminate the time associated with processing checks and paper coupons.

We convert each transaction automatically to the correct tax payment file format , improving the accuracy of your payment information. Formatting resides on our systems, maintained and up to date. Both services are available 24 hours a day, seven days a week through our online banking platform. Multiple levels of user authentication help prevent unauthorized access.

WellsTAX Payments
With our Wells TAX Payments service, the City can make federal, state, and local tax payments by touch-tone phone or through our online banking platform.

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Sign on to our online
banking portal or use a
touch-tone telephone
Authorized users sign on
with unique WellsTAX
access code and PIN*
Enter the due date,
amount, and choose from
more than 1,000 tax
payment codes
Batch payments that
originate from the same
account
* We link a unique Wells TAX access code and PIN to your designated Wells Fargo checking account and tax identification number . You can authorize access by user.

Confirmations
The on line banking platform displays a payment confirmation page. If you access the service by touch-tone phone, your checking account statement serves as the receipt for payments . You can also choose to receive a confirmation by fax or mail.

Online ACH origination
To access the online banking platform, your user signs on with your Company ID, their user ID, and their password. To initiate the ACH transaction, your user enters a PIN and one-time token code.

Selecting tax as the payment type, your user then follows these steps to create a payment:

Enter the payment date Select whether the payment
is one-time or recurring
Select or add the recipient
information
The City can consolidate payments to multiple tax authorities in one batch, as long as you originate them from the same account.

Confirmations
Within the service, the Pending Payments screen reflects a status of "scheduled" when payments are approved and ready to be processed. The Processed Payments screen reflects a status of "submitted " when the ACH system receives payments for processing.

Mobile processing
If you use our mobile service to access our on line ACH origination service, you receive confirmation in two ways:
• Within the mobile screen - On the final confirmation step, users can choose to send themselves an email receipt that includes the details of the action just taken.* • By email - With our Alerts service, users can sign up for email or text message notifications for ACH payment events.
* Email receipts do not have an additional fee.

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Choose the option that fits your needs
Service features WellsTAX Payments Online ACH origination Channels
Deadlines
• Online
• Telephone
One business day prior to due date ·
Federal payments: 3:30 p.m. PT
State payments: 4:00 p.m, PT
Multiple payment upload Online only
Ability to initiate other No
ACH payment types
Ability to create templates No
Warehouse capabilities 30 days
Settlement options One day
Dual control Optional (online only)
City of Laguna Niguel I 40
Online
On-us same day*:
4:00p.m. PT
Transit same-dayt:
6:00 a.m., 10:00 a.m., and 12:00 p.m. PT
One and two day:
6:00 p.m. PT
Yes
Yes
Yes
45 days
• Same day
• One day
• Two day
Required

WELLS FARGO
Service features WellsTAX Payments Online ACH origination Reporting Access to online tax payment
history up to two years
• Online quarterly acti vity
statement
• Same-day fax or next-day mail
confirmati ons for phone
payments
• Same-day online payment
confirmations for online payments
Standard payment reports on Payment s
• Payment Summary (one-year
availability)
• Payment Detail (two-month
availability)
• Payment Audit (one-year
availability)
• Template Summary [seven-year
availability)
• Template Detail [seven-year
availability)
• Template Audit [seven-year
availability)
• Recipient Profile Summary [one-
month availabilit y)
• Recipient Profile Detail [one-
month availabilit y)
• Recipient Audit [one-month
availability)
• File Upload (one-month
availability)
• Both t he originating account and receiving account must be Wells Fargo accounts The $1,000.000 transact ion limit for Nacha's Same Day Rule does not apply to on-us transactions t Transactions more than $1,000,000 and IAT are not eligible Funds from incoming credits are available by 5:00 pm local time
Online bank processes and information reporting
The City currently utilizes a web- based online system to perform a variety of processes, such as placing stop payments and accessing online balance reporting information (current day and prior day) for all accounts using a PC and the Internet.

Acknowledged . You will be able to use our Wells Fargo Vantage Online Platform to perform these functions.

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Proposals should describe the Bank's online banking and information reporting system(s), including a list of all service providers, the current computer hardware/software specification for most effectively utilizing the Bank's online system; when prior-day and current-day banking information becomes available; how long prior day reporting is available via the online portal; applicable fees for prior-day reporting; sample copies of prior and current day reports showcasing the system's capabilities; customization of end- user reports; types of security measures in place; Bank's contingency plan for providing information in the event of unexpected bank system problems, natural disasters or cyberattacks directed at either the Bank or the City; and the process for accessing electronic delivery of transaction details.

Information reporting service
Our information reporting service delivers comprehensive, real-time treasury information to help you make critical financial decisions. Our services provide current - and previous-day information, including comprehensive balance, summary, and transaction details, as well as reports on specific transaction types . Choose from three data access plans based on your organization's needs. You can configure reports, share data, and view, print , and download your information 24 hours a day, seven days a week. You can also view reports through our mobile app and receive information through API and several transmission options .

Core
The Core plan contains balance information , statements, and alerts and is included at no charge with every treasury management account.

Dashboard view
You can view the Express Balance report for up to 10 accounts on the homepage after you sign on to our online banking platform .

Receive notifications* by email, text, or mobile device alerts Conveniently receive alerts through email and text without signing on to our online banking platform . You can also receive push notifications on your mobile devices. Based on your preferences , we can notify you immediately, once every hour, once every two hours, once a day, or twice a day. You can:
• Set up alerts for only the events that meet your individual business needs, so you can manage your accounts more effectively.
• Potentially help mitigate the effects of fraud and reduce future fraud by knowing when unusual activity occurs.
• Choose from more than 600 alerts.
• Legal disclosure notificati ons are not available.

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Search for account transactions
You can search for transactions across multiple accounts and ACH IDs through our on line banking platform or the mobile app, including:
• Deposits, paid checks, and other posted account activity for the previous seven years • Initiated ACH transaction history for up to 180 days or 13 months with our extended storage option
• Stop payment information for as long as the stop remains in effect • Expanded account reconciliation information for canceled and voided checks for the current statement cycle and two previous statement cycles* * The outstanding check information remains available until the item is dispositioned .

Access statements and notices
You can access your statements, notices, and legal disclosures through our online banking platform and mobile app. In a single request, you can retrieve and download your statements, helping you save time and get the information you need.

Available reports With this report, you can
Commercial Checking and Available one to two business days after your statement cycle's cutoff Savings account statements date* for up to 13 months (current month and prior 12 months).

Client Analysis statements Available electronically one calendar day after the previou s month's statement data is generatedt and for up to 13 months (current month and prior 12 months) With our int eracti ve statement, you can select individu al or multiple items to trend up to 13 months of analysis history Deposit Adjustment Notices (DAN) I Available for up to 180 days after the adjustment is processed.

Express Balance Receive a quick snapshot of your previous day account balance information as well as your current available balance
Previous Day Posting Status View this report throughout the day to see when your accounts' previous day information is available. This report can include information for Wells Fargo accounts and accounts at other financial institutions.

Stop Payment notices Available for 30 days after the stop payment is processed Stop Renewal notices I Available for 30 days after the renewal is processed.

Time Deposit advices The 10 most recent advices generated for an account are available, Legal disclosures Available until the expiration date (included with your statements) . * Statement availability varies by account type and services used t The billing period closes on the last calendar day of the month Our system consolidates the monthly activity in five business days and generates the client analysis statement on the next calendar day, per our service levels Statements are available in PDF, CSV, Excel, HTML . and ANSI Xl2 822 fo rmats City of Laguna Niguel I 43

WELLS FARGO
Plus
The Plus plan includes everything in Core and additional data focused on previous day information and images:

View images
You can view, print, or download images of deposited checks, paid checks, or deposit ticket items .

Images are available by 6:00 a.m. Pacific Time the business day after posting. Some images may also be available on a same-day basis. Images are available for seven years.

Previous day reports
Our previous day reporting includes all transaction types that post to your accounts. Our standard data storage provides access to seven calendar days of history. We also offer optional extended storage of 30, 60, 90, or 120 calendar days for balances and transaction details.

We update previous day information by 3:30 a.m. Pacific Time Tuesday through Friday and by 5:30 a.m. Pacific Time on Saturday, though it is often available sooner.

Available reports With this report, you can
DDACycled
Statement*
~ w your electronic statement of che~k~ng activity the day after your de~:nd depo~ I account (DDA) statement cycle closes.

Month-to-Date
Balance
Previous Day
Composite
Previous Day Running
Ledger
View a daily summary of account balances posted to your account- including averages, aggregate float, and total transactions - posted to your account for month-to-date, prior month, or a specific date range.

Receive a comprehensive view of previous day posted account information, including balances, transaction summaries, and transaction details. You can also view images of each check transaction and view full detail for wire transfers and received ACH transactions .

Obtain previous day opening and ending balances and transactions wit h a running ledger balance.
* Standard storage is five cycles with a daily cutoff or three cycles with all other cutoffs Premium
The Premium plan includes everything in Core and Plus; this data plan focuses on intraday and extended item detail information.

View extended item details
View extended details for wire transactions, Instant Payments transactions,* and received ACH transactions for up to 180 days.
* Our Instant Payments Services for credit transfer are available subject to applicable product eligibility City of Laguna Niguel I 44

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Available reports
ACH Receive
Deposit Detail
lntraday Composite
lntraday Position
Wire Transfer Detail
With this report, you can
View timely information for all received ACH transactions that will post to your account at the end of the current business day.

View your electro nic deposits fo r the day, including t he ite ms in each deposit and whether the item s were processed as checks or converted to electronic transactions Receive a comprehensive view of intraday information, including balances, transaction summaries, and transaction details.

View total balances across multiple accounts with summariz ed debit and credit informat ion, helping you determine your intrada y cash position and make daily investment and borrowing decisions
Receive complete details for all outgoing and incoming wire transfers, including book transfers, domestic U.S. wires, and cross-border wires
Product-specific
These are additional product-specific reports that are available separately .

Available reports
ACH Bundle Reports
ARP Statements and Optional
Reports 1
ARP Off-Cycle Reports 1
With this report, you can
----- ------
The ACH bundle includes:
• ACH Origination: View ACH-originated transactions and confirm that Wells Fargo received and processed them .
• ACH Return/NOC: Receive detailed information for all ACH transactions that were returned for any reason, as well as notification of change (NOC) information for items that processed successfully but may require additional action.
• ACH OFAC IAT Status: Provides ACH Originators a status for their domestic IAT, Nacha Standard Entry Class (SEC) Code IAT, that go through Global Sanctions Screening. Statuses can be used to determine if IAT entries are still being processed/reviewed during Global Sanctions Screening or if the transactions have gone to a final status.

Access your ARP statements as well as 14 optional ARP reports or choose only the data you want to see before you download your ARP statements and off-cycle optional reports in CSV or Excel format
ARP File Posting Confirmation 2 View a summary of your account reconciliation activity by date, including check issues, cancels, voids, and stop payment requests, releases, and renewals.

ARP Data Query Report 3 Perform queries on your accounts with ARP and download the results in CSV or Excel Controlled Disbursement View check details for each of your controlled disbursement accounts Detail
Controlled Disbursement
Summary
View a summary of today's presentment and adjustment activity, helping you identify excess funds.

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Available reports
E-Box®
EDI Payment Detail
Loan Manager
Lockbox Availability
Lockbox Detail
Return Item Detail lntraday
Return Item Previous Day
Sweep Account Position4
1 Standard storage is 13 months
2 Standard storage is 45 calendar days
3 Standard storage is 90 calendar days
With this report, you can
Review and post payments that originate through an online bill pay service. View information needed to match payments to your accounts receivable.* Obt ain detailed ACH and EDI payment data, which includes addenda translations from your trading partners, in a comprehensive format
Receive a consolidated view of your asset-based loan activity, including summaries of operating account, collateral account, and loan activity.

Determine your funds availability for all lockbox deposits , View detailed information about received lockbox payments from your customers.

You can also view images from each deposit, including checks and remittance documents.

Access details of returned paper items before your account is charged for the ret urns.

View details of paper returns after they are charged to your account. You can also view images of each returned item .

Monitor your line of credit, view your investment position for the next day, see how sweep activity impacts your line of credit, and track dividend accruals 4 For Mone y Market Mut ual Fund Stagecoach Sweep® and Credit Sweep clients only Investment products are not FDIC insured, are not deposits of or guaranteed by the bank, and may lose value. Deposit and credit products are offered by Wells Fargo Bank, NA Member FDIC
Channels
You can receive the data included with your plan through the following channels.

Online and mobile
Reporting is available for all accounts through our on line banking platform and mobile app. Users have access to an account dashboard and can search transactions and view reports. To save time, users can create, save, and share reports with other authorized users. View and download options vary by report but include HTML, PDF, Excel, CSV, and BAI V2. Below are the optional channels you can add to receive information and help automate your business processes.

Transmissions
Get balance and transaction information delivered through a secure, direct data transmission in the ISO, Swift, or Direct BAI formats listed below.
• ISO 20022
• CAMT.052, CAMT .053, CAMT .054
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• Swift
• Previous and intraday statements and advices
• MT199, MT900, MT910, MT940, MT941, MT942, MT950
• Direct BAI
• Previous and intraday transactions and balances
• BAI V2
Multibank reporting
With data exchange, you can combine the information from your accounts at Wells Fargo and other banks for a complete look at your financial position . Our Incoming Data Exchange service provides you with intraday* or previous day account balance and transaction details from participating financial institutions worldwide.
• Many banks send information on a previous day basis only.

Direct API
You can have direct connection to balances, images, or extended item details on transactions depending on which plan you choose: Core, Plus, or Premium. • Obtain your banking data to fit the City 's desired user experience . • Get information more easily by embedding banking information directly into your workflow, allowing you to bypass unnecessary steps and redundant systems. • Maintain a single set of security credentials within your organization for controlling access.

Wells Fargo Vantage Connect
Obtain your banking information in real time by simply downloading software, with pre-integrated A Pis, to your accounting system, treasury workstation, ERP platform, or system of record.

Automated downloads
With our optional automated downloading service, you can reduce the amount of time you spend on routine tasks like report retrieval. Our service can generate reports at any time, or you can schedule them to run daily, weekly, or monthly and have them automatically delivered to your printer, email, or system of record.

Hardware and software
Our on line reporting service is internet based and operates within a web browser through our on line banking platform. The system requires a web browser that supports 256-bit SHA encryption. No proprietary software is required. Hardware requirements are specific to the operating system and browser you are using and specific services such as Autolink and Desktop Deposit® .

We support all operating systems that meet our current browser* and plug-in requirements, as listed in the table below .
* While our services may work with older versions of the operating systems and browsers listed in the table, we do not support them formally .

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Supported operating
systems
Supported browsers
Browser plug-ins and
settings
User level
• Windows 10
• Windows 11
• macOS 12 6 2 - Mo nterey
• macOS 13 1 - Ventura
• macOS 14 - Sonoma
• Google Chrome
• Microsoft Edge
• Mozilla Firefox (only on Windows)
• Safari (only on Mac)
~--
• Adobe Acrobat Reader (for viewing reports)
• JavaScript-enabled
. Session cookies-enabled
• XH R-enabled
• Administrative rights to the computer where Autolink will be installed
* System requirements are subject to change and may vary among on line applications . For the most current requirements, go to ~~ .. ~--:~3:-25,,s .:l- a::- ► , 2~~~ ~~
Sample current day and prior day reports are provided in Tab C in the Appendix section of the proposal.
of end- user reports; types of security measures in place; Bank's contingency plan for providing information in the event of unexpected bank system problems, natural disasters or cyberattacks directed at either the Bank or the City; and the process for accessing electronic delivery of transaction details .

Custom reports
The City can configure reports for one-time use and save configured reports for reuse. Users can save up to 100 customized reports and edit them at any time. Users can share up to 200 reports at the company level, and each user can share up to 50 reports . To save time, you can share reports among similarly authorized users.

Business continuity resiliency planning
Our core procedures for business continuity resiliency planning remain the same for many types of disruptions or disasters . Our goal is to restore and maintain normal service levels as soon as possible. Contingency planning, routine data backups, and business recovery are parts of each recovery plan. We have teams on call 24 hours a day, seven days a week, ready to respond to a disruption .

Online banking platform
If the on line banking platform experiences a disruption, we will use our backup environment or invoke product recovery plans as needed .

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We maintain a duplicate environment of our on line banking platform in a separate location. We actively monitor the readiness of the alternate site by using it to deploy code enhancements and enact disaster preparedness simulations.

Mobile*
We have a backup environment for our mobile app in the event of a system disruption. Our mobile app and online banking platform channels use different web addresses and user interfaces . This means that, depending on the nature and root cause of a disruption, users may be able to access services through the mobile service if our online banking platform is unavailable.

Additionally , our mobile token feature allows users to use their mobile device in place of a physical token to access secure services .
* Download the latest version of our Wells Fargo Vantage app available for your device from the Apple App Store or Google Play store .

Investments
Investment services
Describe the investment services offered by the financial institution (exclude duplicate explanation of the Overnight Sweep Account capabilities requested in the following section).

Include a statement in this section that the Bank has read and will comply with all terms and conditions of the City's Investment Policy (Attachment A).

The Wells Fargo Securities, LLC. (WFS) investment representative who will work with the account is John Williams in our San Francisco, CA office, phone: 415 - 644-9026, email:
john .r.williams@wellsfargo .com .

Wells Fargo has been helping institutional clients, including non-profit organizations for more than 150 years. Wells Fargo Securities builds on that tradition by offering investment products, services and expertise to finance directors and business administrators for public institutions across America. We have a local, customer-focused approach to business. Therefore, our clients benefit from our in-depth knowledge of their region and unique investment needs.

WFS works with institutional clients who prefer to manage their own investments. We provide investment solutions through various products:
• U. S. Treasury Bills, Notes and Bonds
• Federal agency securities
• Corporate bonds
• Commercial paper
• Brokered certificates of deposit
• Taxable and tax -exempt money market mutual funds
• Other money market securities
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WFS offers the following services to its clients:
• Wells Fargo Vantage, our on line banking platform provides online access to clients' brokerage account activity, statements and positions 24 hours a day, seven days a week, including on line trading for money market mutual funds during normal trading hours as well as portfolio management tools. Money market mutual fund transactions can also be originated through Vantage.
• Portfolio analytics, security comparison tools, portfolio performance measurement and interest rate risk advisory services.
• Portfolio accounting through Wells Fargo's low-cost portfolio accounting system, which is an internet-based account ing and reporting package designed specifically for fixed Income portfolios.
• Safekeeping
• Underwriting, with our Public Finance division providing capital project funding .

WFS provides its brokerage clients with self-clearing bank safekeeping services. Securities purchased by WFS clients are held with Wells Fargo Bank, N.A., a FRB member. Safekeeping activity is subject to annual audits by our internal auditors, Wells Fargo Audit Services, Inc., and by our external auditors, KPMG. Securities purchased by the account will be settled via delivery versus payment (DVP) either through the Depository Trust Company (OTC) or the Bank of New York (BONY). Securities belonging to clients who have safekeeping with Wells Fargo Bank, N. A. (bank safekeeping) are held in accounts titled "Wells Fargo Bank Safekeeping Services." The securities are recorded in the customer's name on our internal system of record. Our books and records are reconciled daily with those of the depositories. Physical securities registered in the customer's name or in WFS' nominee name are held in the Bank of New York's (BONY's) securities vault. These securities are counted and reconciled at least quarterly. Fees and charges are competitive within our industry. Below is the fee schedule on the bank safekeeping services.

Monthly Account Maintenance .................................. $25.00 Monthly Security Holdings per CUSIP Asset
and Mortgage-Backed Securities .............................. $10.00 All Other Security Types ................................................... $5.00 Security Pledges (Initiating, Substituting,
and Releasing Securities) .............................................. $30.00 Outgoing Domestic & International Wires ........... $25.00 Free Receives and Deliveries per CUSIP ................ $10.00 Third Party Trade Clearing* per Security ............. $50.00 • Applies to sett ling transactions with a third party delivered to/from Wells Fargo Securities, LLCWFS provides a written confirmation of each trade . However. as permitted by U.S. Securities and Exchange Commission Rule lOb-lO(b) providing for alternative period reporting, WFS does not send written confirmations for money market mutual fund transactions. including purchases. redemptions, dividends, and dividend reinvestment Clients may elect to receive their statements through Vantage, or through U. S. mail, Clients may receive additional documentation witho ut request, depending on the type of transaction . These include interest, principal, call or maturity advice.

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Purchases made through WFS with same day settlement can be settled throughout normal trading hours. The deadline for settlement of directive same day trades delivered to Wells Fargo is 12:00 p.m. Central Time. There is no charge for late delivery instructions, but those will be done on a best-efforts basis.

By providing the resources of a respected, national financial services firm with our local expertise and commitment to customer service, WFS provides our clients with the best of both worlds. Each of our investment representatives are part of an experienced team of brokers, traders, and sales assistants, ensuring that someone is always available to assist clients .

WFS and its investment representatives do not act as Municipal Advisors and only provide investment advice or recommendations with respect to bond proceeds as permitted by available exemptions.

Wells Fargo Corporate & Investment Banking and Wells Fargo Securities are the trade names used for the capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including but not limited to Wells Fargo Securities, LLC, a member of NYSE, FINRA, NFA and SIPC, Wells Fargo Prime Services, LLC, a member of FINRA, NFA and SIPC.

A letter has been included in Tab Din the Appendix section, which acknowledges we have received and reviewed your Investment Policy Statement or similar investment guidelines (Attachment A the "City Investment Policy").

The City's California Investment Policy is for City's own internal control and reference purpose only and does not apply to the bank's provision of services within the scope of the RFP. The management of deposits held at the bank will be in accordance with Wells Fargo's account and service documentation for the deposit and treasury management products and services requested in the RFP. The account agreements and service descriptions can be found in Tab H in the Appendix section of the proposal.

State activity /LAIF transfers
The City transacts State of California Local Agency Investment Fund (LAIF) transfers on a regular basis and receives State electronic payments. Proposals should describe the LAIF transfer process, transfer methodology, and transfer verification process and indicate if the Bank is an approved State of California depositor.

Local Agency Investment Fund (LAIF) transfers are handled as follows:
• Funds transfer to LAIF: The City will contact the State of California LAI F office to advise of a funds transfer . A LAIF representative will provide a transfer confirmation number. The deadline is 10:00 a.m. Pacific Time. You will initiate the funds transfer electronically by wire . • Funds transfer from LAIF: Contact the State of California LAIF office to request a withdrawal. The deadline is 10:00 a.m. Pacific Time . The funds will be transferred into your Wells Fargo account by wire transfer the same day.

LAI F transfers are completed by wire transfer. Fees for incoming and outgoing wire transfers are included in our cost proposal.

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Overnight sweep
The City is interested in an automatic, overnight DDA Sweep with all collected funds in excess of the designated peg balance swept into an investment fund. The Proposal should indicate if and when the City may be charged overdraft fees if the peg balance goes negative and how much those fees would be. Proposal should describe in detail the overnight sweep account(s) offered by the financial institution, including overnight investment options available to maximize the City's potential earnings; indicate if the fund(s) meet the California Government Code for allowable investments; the size of the Sweep fund (s) and historical rates for the past 12 months; costs associated with an Overnight Sweep fund(s); indicate any fees and transfer frequency limitations; and provide if the Bank has an office in Sacramento that maintains a direct DDA banking relationship with the State Treasurer's office and the State Controller's Office.

Sweep accounts provide you with an automated solution for optimizing funds and earning interest on balances invested overnight. Because investments are either overnight or short-term, you will still have daily access to your money.

Sweep accounts provide:

Automated investment of funds
By sweeping automatically each night, our service eliminates the need for costly and time consuming manual funds movement to and from investment accounts.

Accuracy of funds transfer
Sweep transfers occur after all the day's debits and credits post to your account. Transferring funds after debits and credits post helps ensure that the sweep will not accidently overdraw your account.

Consolidated reporting
You receive a monthly statement that includes information on your balances and the interest paid on your investment. Our confirmations provide you with sweep transaction activity and daily rates.

Additionally , 12 months of statement and confirmation history is available online . You can also monitor your sweep activity on line, daily, using our information reporting service . If you prefer, we can deliver your statements and notifications to you electronically.

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Your account
Select target balance
for account (amount
can be zero)
Excess above your target balance is
swept into sweep account
Funds are returned to your account
based on the sweep parameters
Sweep account
Preferred option
Repurchase
Agreement option
Money Market
Mutual Fund sweep
Credit sweep
View your activity through our online information reporting service, or through monthly statements.

How it works
Once you determine a target amount (which you can set to zero), we sweep excess collected balances over the target amount from your checking account to an investment. Alternatively, we sweep excess collected balances over the target amount to pay down a line of credit, depending on your cash flow needs.

Money Market Mutual Fund Sweep
Our Money Market Mutual Fund*tautomatically sweeps excess collected balances into one of our Allspring Money Market Mutual Funds:
• Government Money Market Fund
• Treasury Plus Money Market Fund
• 100% Treasury Money Market Fund
• Not FDIC insured, no bank guarantee, and may lose value. t Additional fees may apply.

Because funds stay invested until you need them, you can generate earnings without sacrificing access to your cash. If your checking account balance is above your target balance at the end of the day, we automatically sweep the excess balance from your account into an FDIC-insured omnibus account* at the bank. At the beginning of the next business day, we transfer the funds to the money market mutual fund custodian . The custodian invests funds in a non-FDIC insured, non-bank guaranteed money market mutual fund .t
• Funds transferr ed to the omnibus account are eligible for FDIC insurance up to the allowable limit . Additionally, government deposits remain collaterali zed in accordance with state or federal law. We hold funds in your organization's name until released for investment the following business day.
t This statement is just a summary . For comp lete informat ion, please see the Wells Fargo Stagecoach Sweep Service Description and the current prospectu s for the Allspring Funds ALLSPRING FUNDS MANAGEMENT , LLC, A WHOLL Y OWNED SUBSIDIARY OF ALLSPRING GLOBAL INVESTMENTS HOLD INGS, LLC ("ALLSPRING GLO BAL"), PROVIDES INVESTMENT ADVISOR Y AND ADMINISTRATIVE SERVICES FOR THE ALLSPRING FUNDS®. OTHER SUBSIDIARIES OF ALLSPRING GLOBAL PROVIDE SUB ADVISORY AND OTHER SERVICES FOR THE FUNDS. THE FUNDS ARE DISTRIBUTED BY ALLSPRING FUNDS DISTRIBUTOR, LLC.

MEMBER FIN RA/SI PC, A SUBSIDIARY OF ALLSPRING GLOBAL .

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Your investment in a money market mutual fund will be pooled with funds belonging to other investors in an omnibus investment account in the name of Wells Fargo as agent on behalf of all its clients invested in the money market mutual fund. An investment in a money market mutual fund is not insured by the FDIC or any other government agency. Although the mutual funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market mutual fund. In addition, mutual funds are not guaranteed by Wells Fargo and may lose value. For more information regarding the money market mutual fund investment sweep option, obtain a current prospectus for the mone y market mutual fund by visiting ~ .s;, ,,cc.lc b:.· ~O•", by calling 1- 800-260-5969 , or by contacting your Wells Fargo relationship manager. Consider the investment objecti ves, risks, charges, and expenses of the investment carefully before investing. This information can be found in a current prospectus. Investment and redemption
Our Money Market Mutual Funds Option 1• 4 is a next-day sweep service. This means that at the end of each business day, we automatically sweep excess collected funds into a FDIC-insured omnibus account. 2• 3 We then invest these funds the next morning when the market opens. Funds remain invested until your checking account drops below your target balance (which you can set to zero). If the balance drops below your target, we redeem shares and transfer funds to your checking account at the beginning of the following business day.

1. This statement is just a summary. For complete info rmation, please see the Wells Fargo Stagecoach Sweep Service Description and the current prospectus for the Allspring Funds. ALLSPRING FUNDS MANAGEMENT, LLC, A WHOLLY OWNED SUBSIDIARY OF ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC ("ALLSPRING GLOBAL"). PROVIDES INVESTMENT ADVISORY AND ADMINISTRATIVE SERVICES FOR THE ALLSPRING FUNDS. OTHER SUBSIDIARIES OF ALLSPRING GLOBAL PROVIDE SUB ADVISORY AND OTHER SERVICES FOR THE FUNDS. THE FUNDS ARE DISTRIBUTED BY ALLSPRING FUNDS DISTRIBUTOR, LLC, MEMBER FIN RA/SI PC, A SUBSIDIARY OF ALLSPRING GLOBAL Your investment in a money market mutual fund will be pooled with funds belonging to other investors in an omnibus investment account in the name of Wells Fargo as agent on behalf of all its clients invested in the money market mutual fund . An investment in a money market mutual fund is not insured by the FDIC or any other government agency. Although the mutual funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market mutual fund . In addition, mutual funds are not guaranteed by Wells Fargo and may lose value. For more information regarding the money market mutual fund investment sweep option, obtain a current prospectus for the money market mutua l fund by visiting u~ ~-- <.::::,-_ _··. by calling l-800-260-5969, or by contacting your Wells Fargo relationship manager. Consider the investment objectives, risks, charges, and expenses of the investment carefully before investing .

This information can be found in a current prospectus . Please read it carefully before investing.

2. Funds transferred to the omnibus account are eligible for FDIC insurance up to the allowable limit

3. Government deposits will continue to be collateralized in accordance with state or federal law and held in the City's name until released for investment the following business day.

4. Not FDIC insured, no bank guarantee, and may lose value.

Principal and interest credits
Our sweep service automatically credits principal to your checking account the day after we redeem your shares.

You can receive dividend payments to your checking account on the first day of the following month or we can automatically reinvest it.

We must credit your principal to the same account we debited, but we can credit your dividends payments to a different account.

Posting
Principal and dividend payments credit your checking account separately.

Rates
We determine rates for our Money Market Mutual Funds Option daily, based on the average rates of the securities in the fund .

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The followi ng table lists our annualized rates of return over several years,* as reported by our third-party custodian, Allspring Funds. Allspring reports historical rates on one-year, five-year, and 10-year basis.

Money Market One year Five years 10 years
Mutual Fund
100% Treasury Money 4.64% 1.59% 095%
Market Fund-Svc
Government Money 4.84% 1.67% 1.06%
Market Fund Admin
Government Money 498% 1.76% 114%
Market Fund-I
Treasury Plus Money 4.59% 1.51% 0.92%
Market Fund-A
Treasury Plus Money 4 99% 1 76% 114%
Market-I
Treasury Plus Money 4.73% 1.60% 0.99%
Market Fund-Svc
* Dat a as of January 31, 2025
Wells Fargo has an office location which we maintain a direct ODA banking relationship with the State of California.

Pricing
Please refer to the pricing section in Tab A in the Appendix section for our sweep service fees.

Business credit (procurement) cards
Describe the Bank's online card management processes (new card issuance, deletion, replacement, and adjustment of limits), settlement deadline, billing cycle options, available reconciliation reports, applicable fees associated with the maintenance of the procurement card account, virtual payment platform offerings, security features, Bank's card control and usage restriction options, card number encryption policy, and fraud policy. The proposal should include the Bank's payment option for the City, rate and fee structure, and information on rewards or incentive programs associated with the procurement card account. The City's goal is to increase the use of virtual payment methods to capture additional rewards and savings.

Please include information about the programs offered, along with a description of how the City's credit limit will be determined.

Help maximize convenience, efficiency , and control with one card and one platform that handles your cardholder spending, travel, general procurement, AP disbursements, and more . When you consolidate expenses into one program, the City gains access to comprehensive information for smart decision making.

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You have the potential to realize significant savings in time, transaction-processing costs, and internal resources required to support the program . A single-card platform integrates multiple processes and creates a solid foundation for future growth.

Additionally, you will gain an ally with more than 30 years of experience in the card industry and knowledge to help make your program successful.

New card issuance
Your program administrators can set up new users online and request cards online through our expense management service . We typically deliver new cards to program administrators within five to seven business days.

Cancellation of cards
Your program administrators can cancel cards and disable users using our expense management service. To help ensure that you receive the full benefit of the Visa® Liability Waiver Insurance Program included with our program, your program administrators should immediately report cancellations due to employee terminations.

Modification of card parameters
The City's program administrators can update the following spending controls and restrictions, at any time, through our expense management service:
• Authorized merchant category codes (MCCs)
• Maximum dollar spending limit per day, month, or cycle • Maximum number of transactions allowed per day, month, or cycle • Prescheduled card holder limit changes
• Maximum single purchase limits
Lost or stolen cards
Cardholders or program administrators should immediately call our commercial card service center to report lost or stolen cards.

Replacing cards
Your program administrators can order most replacement cards through our expense management service and typically receive them within five to seven business days. An employee can order their own replacement card by calling GPL WellsOne Service only in connection with reporting their own card as lost or stolen . We can issue an emergency replacement card within one to two business days.

The City's administrators will automatically receive renewal cards approximately 60 days prior to card expiration dates .

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Modifying a cardholder's profile
Your program administrators are responsible for keeping employee information updated in our expense management service. They can also perform the functions shown in the following table .

Real-time functions available online
Map general ledger (GL) temp lates
Maintain hierarchy
View card authorizations and declines
Move cards
Billing cycle
Reset passwords
Update primary and secondary approvers
Update user roles
Our standard billing cycle is monthly, but we can bill you weekly or twice monthly with flexible end dates. We can accommodate variable fiscal periods, so the City can determine the specific time of the week or month to pay. You will select your billing cycle during implementation.

Statement delivery
The City can view statements on line or download them in Excel or PDF formats. Program administrators receive an email notification that a statement is ready on the business day following the close of the cycle.

Terms
Your payment terms are set at contract agreement. Our standard is seven days from cycle ending.

You can elect to have the payment debited any time after your statement period closes. Shorter terms or more frequent payment schedules may positively affect your revenue share schedule .

Payment
We will debit your account for payment by ACH with the frequency and cycle cutoff date you determine during implementation.

Revenue share
We offer revenue share based on three primary components:
• Average transaction size
• Net purchase volume
• Payment terms
We have made assumptions based on our current understanding of your objectives and our experiences with similar clients. If the City would like us to modify some or all of our assumptions, we can adjust our offering so that it better matches your objectives . Shorter terms or more frequent payments can affect your revenue share positively.

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We have provided our pricing proposal for your review in Tab A in the Appendix section of our proposal.

Virtual Card Payments service
Virtual cards provide a secure way to make payments without exposing the details of your underlying physical card.

N Virtual cards can help you:
• Streamline your AP process and move away from
manual payment inefficiencies
• Increase security and control because each virtual card number is unique and issued for a specific transaction
and dollar amount
• Achieve better control of your cash flow through
improved data capture and reporting
• Potentially earn revenue share just for paying your suppliers * 2022 RPMG Benchmark Survey Results.

Ill How do virtual cards work?
Payment file and online initation
Did you know?
Almost 40% of
commercial card using
organizations have
adopted virtual cards.*
Typically, clients initiate a payment file to us. When we receive the file, we assign a unique virt ual card number to each transaction. The City can specify the transaction amount and payment tolerances - percentages above or below the amount, or both - that allow for variation in the actual transaction amount . Your supplie r has a limited number of days, which you specify , to process the charge.

Instead of sending a payment file, the City can also initiate payments online through our Virtual Card Payment application. This option gives you the fle xibility to initiate single or off-cycle payments as needed - no waiting for batch processing.

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Payment routes to
recipient
Secure email sent to recipient
with vir.:ual card number
and remli:tance details
Recipient
processes payment
Notification and processing
Your ERP
WellsOne
Virtual Card
payments
Payment routes to
recipient's merchant acquirer
Email alen: w recipiem:
about new payment and
remittance de:a1ls
Payment is pushed through
the card network and
into the recipient's
merchant-linked account
Our Virtual Card Payments service sends the unique virtual card number and transaction details to your supplier automatically by secure email. Your supplier processes your payments just like any other card payments. Alternatively, with our Straight Through Processing service, you can make it even easier for suppliers to do business with you. They can arrange to receive your card payments in their bank accounts instead of processing the payments themselves.* * We offer our Straight Through Processing in conjunction with our WellsOne® Virtual Card Payments service.

Reconciliation
The City can view all settled transactions on line or receive an electronic remittance file to expedite the reconciliation of transactions in your system.

API integration
For completely automated and on-demand virtual card numbers in real time, choose our API channel for virtual cards. When you initiate a payment through an API call, your system connects to ours using secured credentials so that we can provide the virtual card numbers you want, when you need them. We send each virtual card number with transaction details by secure email to your suppliers, or you can choose another delivery channel. You do not need to wait for batch processing; each transaction is almost instantaneous, helping improve processing efficiency.

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Your system with
Wells Fargo
Gateway APls

1. Create a virtual card
with remittance

2. Create a virtual card

3. Cancel

4. Update

5. Retrieve

6. Search
Supplier onboarding
Your ask (1,2,3,4.5)
l
Gateway's real-time response
2 WellsOne®
Virtual Card
Payments
(WVCP)
Virtual Account
Number {VAN)
information
Send VAN with B2B payment details to each
3 ---. recipient through secure email or customer
defined alternative process
Our Supplier Analysis and On boarding team analyzes your supplier base and strategically targets them for card payment acceptance. Based on our findings, we strategize with you on payment methods and terms to offer each supplier . Then, we on board your suppliers by explaining the benefits and helping them understand the value of digital payments .

Credit limit
Prior to the implementation of your card program, we perform a thorough credit analysis to establish the City's credit limit. Because our program is a corporate liability program, credit checks are not required for individual cardholders.

Fraud
We assist you in fighting fraud as one of our top priorities.

Our fraud team and fraud -detection tools monitor your commercial card account 24 hours a day, seven days a week. They monitor for fraudulent and suspicious transactions using sophisticated fraud detection methodologies and neural network technology. We can identify suspicious transaction activity like counterfeit and skimmed accounts, employee abuse, and suspicious merchant activity. Our fraud team reacts quickly to identify such transactions to help minimize the impact of fraudulent activity .

We automatically send cardholders fraud alerts by email when we identify a suspicious card transactions. The City can also enroll in text* alerts for cardholders. Once enrolled, recipients can confirm whether transactions are fraudulent by simply responding to our texts. This response can help detect and prevent fraud almost instantly .

Additionally, the City can enroll in optional financial alerts. Financial alerts provide cardholders with real-time access to card transaction data and credit availability when a transaction occurs.

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Cardholders can receive an email, text, or both for the following types of transactions :
• Purchases with a dollar threshold
• Online purchases
• Available credit
• Declines
Up to 10 contacts can receive alerts for a single card. * Some states restrict employees' use of personal mobile devices for work purposes or otherwise impose obligations on employers .

Before enrolling employees, please review applicable state laws related to the use of commercial cards and related services with your legal counsel to ensure compliance . Availability may be affected by mobile device coverage. Mobile carriers' message and data rates may apply.

Financial statements, rating, and compliance
Compliance and exceptions
Include a statement confirming the Bank's compliance with the specific minimum qualifications (Section 1-3 of RFP) and listing any exceptions to required services.

Wells Fargo confirms compliance with the specific minimum qualifications as provided in Section 1-3 of the RFP.

Please refer to Tab Gin the Appendix section for a listing of our exceptions .

Financial statements and ratings
Provide the Bank's most recent audited financial statements or annual report (a reference to electronic availability will suffice). Additionally, where available, include the Bank's most current Standard & Poor's, Moody's, and/or Fitch credit ratings.

You can locate Wells Fargo & Company's most recent annual report through the following site:
,,,,~11scarco.u: rn/1 nve::. _ rela:tons ann _1al,
Wells Fargo subscribes to DBRS, Fitch, Moody's, and Standard & Poor's ratings agencies. You will find our current ratings in the following table.*
• The information provided can be ·ound on our ~ c~. ':~la.-~ site ano ,s provided for 1nformauonal purposes only We do not guarantee the accuracy, completeness, or timeliness of information on or available t hroug h this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information. Please read e:;a 'if •. ~ 0 ,; before using or r-e!ymg on ,nformat1 on on or available hrough this s,te Do:en ial investo rs in our securities should seek professional advice before t hey invest City of Laguna Niguel I 61

WELLS FARGO
Wells Fargo& DBRS Fitch Moody's S&PGlobal
Company Morningstar
Outlook Stable Stable Stable Stable
Long-term Issuer AA (low) A+ Al BBB+
Rating
Short-term Issuer R-1 (middle) Fl P-1 A-2
Rating
Senior Unsecured AA(low) A+ Al BBB+
Subordinated A (high) A- A3 BBB
Preferred Stock A(low) BBB Baa2 BB+
Wells Fargo Bank, DBRS Fitch Moody's S&PGlobal
N.A. Morningstar
Outlook Stable Stable Negative Stable
Long-term Issuer AA AA- Aa2 A+
Rating
Short-term Issuer R-1 (high) Fl+ P-1 A-1
Rating
Bank Deposits AA AA Aal A+
Senior Unsecured AA AA- Aa2 A+
Subordinated AA(low) A Aa3 BBB+
You can find historical credit ratings in our Wells Fargo Annual Reports. Find our annual reports by visiting: , ell: ;:ir _:a.corn > About Wells Fargo > Investor Relations> Annual Reports and Proxy Statements.

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Additional information
City disaster preparedness program
The City requires assurance of the Bank's ability to provide financial services in the event of a major emergency and during the disaster recovery period. Proposals should include any processes in place to assist the City in the event of an emergency during the recovery period, the Bank's compliance with federal and state regulations pertaining to this matter, the Bank's operational diversification and geographic dispersal of service centers, and describe a test of core service applications and systems that assure information backup, document retention, anti-intrusion, and other privacy requirements.

We offer strategies to help the City prepare for disasters and emergencies . When the City experiences a disrupt ion to your normal operations, you want to know your options for system and information access. We can help you identify alternative methods of accessing information and initiating transactions when the channels you typically use are unavailable. For example, if you are unable to access our on line banking platform, we can provide you with an alternate web address. We can provide backup options for more than 20 of our most frequently used treasury services.

Our recovery procedures consist of multiple strategies for each business, function, product, and service. If a disruption occurs, we attempt to restore and maintain normal service levels as soon as possible . Our core recovery procedures are consistent for a wide variety of system failures or disasters. However, components of our plan may vary based on the nature of an event. Below, we identify the main areas most commonly affected and describe our general approach to each.

Critical functions
After a disruption, we prioritize restoring and maintaining normal service levels for our critical functions. Components of our recovery plans vary based on the potential business disruption, such as a loss of facility, loss of technology, or significant reduction to our staff. For example, we have dispersed our data and operation centers strategically across multiple locations to minimize potential disruption within a specific geographic region .

Data and operation centers
We engage our technology teams quickly when we detect a disruption at a primary data center .

Our technology teams assess the situation and determine next steps based on the nature of the disruption. We can shift processing to an alternate data center if we need to because we maintain redundant platforms for our critical services. All alternate sites have sufficient capacity to maintain processing for an extended period. In most situations, we can restore service at a primary data center for critical services within 12 hours.*
If a disruption occurs at one of our primary operation centers, we use an identified backup site to take over day-to-day processing and support. We use our backup site until the primary site returns to normal conditions .
* This zero to 12-hour goal does not guarantee that certain events will not affect Wells Fargo systems or that we will achieve specific recovery times in the event of a disruption .

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Communication
Notification methods to inform you of a service disruption include:
• Recorded messages, accessed through our toll-free telephone number, advising callers about system issues
• System status alerts displayed on the homepage of our online banking platform The method we use to communicate with you depends on the nature of a disruption .

If a disruption prevents you from accessing your information, your relationship team can help.

They have access to bank systems and can provide the account information, balances, and other data you need to continue operating.

Testing
We test and update business resiliency and disaster recovery procedures regularly, with the frequency and timing depending on the business function or application. We test and update recovery strategies and procedures no less than annually.

Data recovery
For applications that support critical functions, we update data simultaneously at our primary and backup sites. We back up less critical application data at scheduled frequencies that range from every 30 minutes to every 30 days.

The recovery time varies based on data type. For example, the data recovery time for critical systems is five to 30 minutes. The data recovery time for less critical systems can take up to 24 hours or longer.*
* This does not constitute a guarantee that certain events will not affect systems or that we will achieve specific recovery times in the event of a disruption .

Firewalls and intrusion detection systems
The Wells Fargo network security architecture is reviewed and approved by the Wells Fargo Architecture Review Board. Device types connecting to the Wells Fargo Network are also reviewed by the Architecture Review Board. Wells Fargo has a compliance policy and continuously scans network devices for compliance and vulnerabilities. Results are provided to the relevant authority for remediation based on risk and severity.

Changes to our production systems must adhere to the corporate change control management process. Proposed environment changes are reviewed to ensure compliance with standards and approved by management prior to execution. Validation is performed when change activity is executed. System level updates (such as security updates, software upgrades, and so forth) are reviewed and periodically applied as appropriate.

Wells Fargo has a mature, risk-based security monitoring program that functions as part of a larger defense-in-depth model. This program uses guidance from many industry best practices (SANS, OWASP) to ensure high-risk vulnerabilities are identified. As a part of the program, both automated and manual testing is conducted at least annually, depending on scope and risk.

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The monitoring program includes:
• Vulnerability scanning, web application testing, and penetration testing • Examining routing tables, validating all registered and internal IP addresses • The use of commercial, non-commercial, and internally developed scanning tools • Scans originating from both the internet and from within the internal network • A defined process for remediating findings and retesting based on risk and management directives
Service enhancements
Based on the information provided in the RFP and your Bank's knowledge of the public sector, please describe any services or technological enhancements not previously mentioned that should be considered for further improving the effectiveness of the City's treasury management operations.

Account Validation Services
Our Account Validation services (AVS) give you the information you need to detect false account credentials and can help combat account takeover fraud . You can also use the service to check account status so you are not transacting with accounts that are closed, invalid, or lack sufficient funds. This helps deter fraud with outgoing money movement or verifying your vendors account information as you set them up in your ERP system.
• You can access the GUI from a web browser,* with no technical implementation required.

Plus, there is no need to wait for pre-scheduled deployment windows to get started, reducing the overall implementation lead time from months to weeks. • With no need to implement the API connection, you can forgo the lengthy information security assessment required by our AVS vendor Early Warning Services Additional information on our AVS offering is provided in Tab E in the Appendix section of the proposal.

Desktop Deposit
Deposit checks from anywhere instead of making repeated trips to the bank. Rather than wasting that precious time, you can focus on growing your business, not your to-do list. With Desktop Deposit, you can capture check images, review your balance deposit totals, and make deposits using one of two channels- Wells Fargo Vantage on a desktop or the Wells Fargo Vantage app using an Apple or Android mobile device . By electronically depositing checks at home, in the office, or on the go, you can stop spending time on in-person bank trips, as well as money on expensive courier pickups .

Please refer to Tab Fin the Appendix section for additional information on Desktop Deposit services.

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Relevant cash management agreements
For the City to best evaluate each proposal, Banks should include the following samples:

Banking Services Agreement, Funds Transfer Agreement, Merchant Services Agreement, Contract for Deposit of Monies, and other Agreements as deemed pertinent by the Bank.

Please refer to Tab H in the Appendix section of our proposal for our account agreements and service descriptions .

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III-2. Proposal submission requirements and
response format
A proposing Bank must follow the instructions for preparing the proposal in the prescribed format. Emphasis should be placed on completeness and clarity of content and should thoroughly address the Scope of Work (Section 1-4). The proposal should refrain from including extraneous or marketing information.

Acknowledged.

To be considered, the Bank must submit a complete response to this RFP, including the following mandatory information and/or requirements in the order below and the forms/format provided in Section 1-4 and Attachments B, C, D, and E. Failure to provide any of the information requested below may be cause for the proposal to be considered non responsive.

Acknowledged.

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a) Title Page/Cover
b) Table of Contents
c) Transmittal Letter
d) Bank and Personnel Profile
e) Demand Deposit Accounts
f) Collateralization of Deposits
g) Bank Compensation
h) Deposit Activity
i) Wire Transfers
j) Automated Clearing House (ACH) Service Requirements
k) Payroll Tax Processing
I) State Activity/LAIF Transfers
m) Investment Services
n) Overnight Sweep
o) Payee Positive Pay
p) ACH Debit Block
q) Online Bank Processes and Information Reporting
r) Merchant Background
s) Business Credit (Procurement) Cards
t) City Disaster Preparedness Program
u) Implementation Plan
v) Service Enhancements
w) Bank Services Bid Form
x) Relevant Cash Management Agreement
y) Financial Statements and Ratings
z) Bank's Insurance Certificate
Proposal guidelines and requirements are described in more detail below in Section Ill.

Acknowledged . We have provided detailed information on each of the products and services listed above .

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III-3. Letter of transmittal
Proposals should include a letter addressed to the City Contact and signed by a duly constituted official legally authorized to bind the Bank to both its proposal and cost schedule.

The letter should address the Bank's willingness and commitment, if selected, to provide the service and why the Bank believes it should be selected. The letter should contain a statement that the Bank has read and will comply with all the terms and conditions of the RFP. The letter should include the name of the proposing Bank, its principal business address where the relationship will be managed, and the branch address that can meet the daily banking needs of the City and its employees.

Trevor Agrelius
Finance Director
City of Laguna Niguel
30111 Crown Valley Pwky.

Laguna Niguel, CA 92677
Dear Trevor,
On behalf of Wells Fargo Bank N.A. (Wells Fargo), thank you for the opportunity to present our proposal for Banking, and Procurement Card Services to the City of Laguna Niguel (the City.).

The City's financial mission is to provide your citizens and employees with superior financial services coupled with great customer service. You require a bank with the technology and expertise to improve your financial operations while ensuring that public funds remain safe and information is secure.

Working in government banking in the southern California region, we are familiar with the scope and complexity of your needs. These needs pair well with Wells Fargo's relationship approach and technical expertise and our pledge to provide the highest level of customer service to help you meet your mission and goals.

We offer a compelling justification to partner with Wells Fargo, including:

Expertise: Wells Fargo has served the treasury needs of municipalities for more than 150 years.

Our Government Banking division is composed of a team of seasoned professionals dedicated exclusively to serving the unique banking needs of public agencies. We understand and have intimate knowledge of the banking laws and regulations with which the City must comply, and we know what banking services are typically used by public agencies.

Stability: We offer a proven relationship team, with a strong commitment to providing the highest level of customer service. This team has significant experience serving our public sector clients and will be led by relationship manager, Jeannie Kabilafkas. Jeannie has 30 years of experience in the banking industry, with 17 of those years working specifically with government agencies.

Innovative solutions: Wells Fargo is a recognized technology leader. We are prepared to work with you to further your goal of creating improved operating and processing efficiencies.

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One of the benefits of a new banking implementation is the opportunity to step back and evaluate ways to better automate.

Ease of transition and implementation: Our team will guide you every step of the way as you transition to Wells Fargo. We offer our extensive experience managing implementations of all sizes and levels of complexity . We will execute a formal project approach with an experienced project manager to oversee implementation coordinators , sales, product, operations , and vendors to ensure the implementation is effectively managed through the various phases of the project's life cycle.

Significant financial incentives: As described the attached pricing proposal, Wells Fargo will provide an enhanced ECR. Combined with discounted pricing, technology and supply allowance, this package will provide great value to the City.

In consideration of this proposal, we would like to offer t he following incentives:
• An ECR of 2.00% to be applied to your collected balances to waive your monthly analyzed charges (approximate annual savings of $8,018.40) that you are currently paying. (ECR subject to market conditions)
• Six months of waived treasury service analysis fees to assist with a transition period ($2,562 value)
• Technology credit of $10,000 to implement new enhancements to your treasury services to help the City with tools (good for first year)
• Supplies allowance of $1,000
Why Wells Fargo?
Wells Fargo helps create solutions for stronger communities through our comm itments to the following :
• Diversity & Inclusion - Ensure all people feel respected and have equal access to resources and opportunities to succeed
• Economic empowerment- Strengthen financial self-sufficiency and economic opportunities in underserved communities
• Environmental sustainability-Accelerate a just t ransition to a low-carbon economy to help reduce climate change impacts
• Community giving- Work with nonprofits to address housing affordability, financial health , and small business growth
• Solutions to meet your needs
In our RFP response, we include information about Wells Fargo's wide range of products and services that satisfy your requirements.3
Wells Fargo believes we will be a perfect match for the City . We understand your needs, have a proven track record , offer innovative products, and focus on attention to service.

We will strive to deliver the products, highly qualified professionals, and personal level of service that you seek and deserve .

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Our deep-rooted relationship approach affords us the ability to understand and exceed your needs at a competitive cost, making us your best choice for a financial services partner .

It would be an honor and a privilege to be selected as the City's primary banking provider The branch location meeting your daily banking needs is:
30160 Town Center Drive in Laguna Niguel.

Senior relationship manager, Jeannie Kabilafkas, is your assigned point of contact and office location is 2030 Main St., Suite 700, Irvine, CA 92614.

The bank has read and will comply with all of terms and its conditions of the RFP. Any legal exceptions have been called out on our exception form.

Sincerely,
Jeannie Kabilafkas
Relationship Manager
Wells Fargo Bank
Government Banking
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WELLS FARGO
III-4. Project team and company profile
Proposals shall include a Bank overview, experience working with public agencies, identifying key personnel, and customer service philosophy. Identify the size and scope of your California based public banking unit, submit resumes or other information describing the experience and qualifications of Bank officers responsible for the City's accounts, each person's role and responsibilities, and the relevant credentials and experience of each person on the relationship management team. Please specify the name and title of the person designated as the Bank's primary relationship manager for the City.

Your primary contact will be relationship manager, Jeannie Kabilafkas. In addition to Jeannie, the City will have an entire relationship management team dedicated to assisting you. Our relationship-focused approach to our diversified set of products and services helps to ensure you have solutions that are right for you - at the right time . We are your advocate , and our goal is to exceed your expectations and establish an interactive relationship.

The table that follows describes the responsibilities of the relationship team members who will provide ongoing support. We also describe the different members of your relationship team . Each member also has a designated backup.

Relationship manager
Treasury consultant
Treasury analyst
Payables consultant
Implementation consultant
GPLService
Jeannie Kabilafkas has overall responsibility for your relationship wit h us She works to coordinate the team and is your single point of contact for all of your banking services.

Ryan Harlow-Nakano serves as a primary point of contact for all treasury related products and services
Erwin Fulge ncio wo rks closely with your treasury consultant. Ryan, t o provide day-to-day sales support and solutions
Cory Jahn will work closely with the City to mat ch our commercial card program's capabilities with your requirements . He may also propose new ideas to streamline your processes and reduce payment costs
Your implementa t ion consultant meets with your staff and with your relat ionship team to define and docume nt requirements, determine our approach to your project, and set up any new services.

This team provides operational support and day-to-day service needs City of Laguna Niguel I 72

WELLS FARGO
Relationship Manager
Jeannie Kabilafkas, Vice President
2030 Main St.

Suite 700
Irvine, CA 92614
jeannie.kabilafkas@
wellsfargo.com
805-407-6174 Direct
Treasury Management Consultant
Jeannie offers the City consultative financial and
banking guidance and coor dinates the team of
specialists that support your banking relationship .

Jeannie is your advocate at the bank
Jeannie has wo1·ked in banking since 1995 She
began working for Wells Fargo in 1995 and has been
a relationship manager since 2007 She is an active
member of CSMFO,CMTA, MMASC and local
chapters of CSMFO
Ryan Harlow-Nakano, Executive Director
401 B St.
22nd Floor
San Diego, CA 32101
ryan.b.harlow
[email protected]
949-922-0803
Ryan will share best practices on products and
services to help guide the City in developing your
treasury management goals, priorities, and
objectives, all while understanding the uniqueness of
his public sector clients.

Ryan studied finance and HR management at the
University of Detroit Mercy, followed by graduate
studies in industrial psychology at John Carroll
University He holds certificates in HR management
and benefits administrat ion from Eastern Michigan
University and is a Certified Treasury Professional
(CTP) with credentials from Chapman University
Ryan is an active member of the CACTTC
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Treasury Management Analyst
Erwin Fulgencio, Associate
999 3rd Ave.
42nd Floor
Seattle, WA 98104
[email protected]
206-833-4016 office
Treasury Management Consultant
Cory Jahn, Executive Director
2030 Main St.

Irvine, CA 92614
[email protected]
213-407- 7131 mobile
Erwin supports your treasury management
consultant , Ryan Harlow -Nakano He wo rks with you
to begin new service imp lementations and can assist
with trea sury management questi ons when Mark is
unavailable.

Erwin has been a sales analyst since 20 22.

He received his SSC from De La Sa lle University
(Manila , Philippines)
Cory offers his payables expert ise to the City He
shares best practices along with product and service
inform atio n to guide you in developing and
execut ing your payables goals
Cory has worked in banking since 2008 when he
sta1·ted with Wells Fa1·go He has been a part of th e
tre asury management team since 20 12
Co1·y received his degree in business admi nistrat ion
from Sonom a State Unive1·sity
Proposals shall provide at least three (3) recent public agency (preferably municipal agencies) clients of similar size and scope of service utilization as the City. Include the agency/client, location, contact information, services provided, number of years as a customer, and other relevant information to allow detailed reference checks. Banks are responsible for notifying references that the City may be contacting them and for providing any waivers or releases the reference requires prior to submitting a proposal.

Based on our current understanding of your needs, we have chosen references with services that most closely resemble the setup we have proposed for the City. We provide contact information for these references in the following table.

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References*
Kelsey Decasas
Controller
Moulton Niguel Water District
949-448-4044
[email protected]
26161 Gordon Rd
Laguna Hills, CA 92653
Jun lntal
Director of Treasury
County of Orange
714-834-4774
pintal@ttcocgov .com
400 W Civic Center Dr
Sant a Ana, CA 92701
Trang Nguyen
Finance Director
City of Orange
714- 744-2238
nguyent@cityoforange org
300 E Chapman Ave.

Orange. CA 92866
* Reference information is confidential
Moulton Niguel Water District uses the following
Wells Fargo services:
• Remote deposit capture and electronic deposit
services
• Emerging electronic receivables solutions
• Cash vault
County of Orange uses the following Wells Fargo
services:
• Wells Fargo Vantage
• Fraud Tools
• Sweeps
City of Orange uses the following Wells Fargo
services:
• Sweeps
• Merchant Payment Soluti ons
• Cash vault
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III-5. Implementation plan
Proposals shall include an Implementation Plan, which includes, but is not limited to, a transition plan between the City and its current banking provider; detail all costs and the responsible party (Bank or City) associated with the conversion of all new services and applicable timelines; conversion allowance the Bank will provide the City stated as a specific dollar amount or identify those supplies, products, or services included, and; if the Bank will provide onsite training for City Personnel for all the services selected.

Our experienced team will meet with the City. Together, we will discuss the process, set expectations, and document any potential issues that the team may encounter during the transition. In addition, we will conduct follow-up meetings, as necessary.

We will also assign an implementation consultant to the City and coordinate an implementation kickoff meeting. Your implementation consultant acts as your single point of contact throughout the implementation and help determine timelines and responsibilities .

This regular communication will help develop the partnership that is required to achieve a smooth transition to your new banking or treasury management solutions.

Treasury management services
Your implementation consultant collaborates with you and your staff to develop the schedule and document the process we will follow. The timing of each phase of your transition depends on factors such as:
• Size and scope of the project
• Your requirements
• The date you want to begin using our services
The implementation time can be shorter or longer depending on the products implemented. We include the following schedule as a sample, and while it shows many crucial tasks, it is not comprehensive. After we meet with you to discuss your needs, we will customize it.

Sample implementation schedule
lOdays • Complete all required Know Your Customer (KYC) due • Wells Fargo/The City diligence processes
Varies based on • Kickoff call (depending on size and scope of • Wells Fargo/The City the City's implementation)
engagement • Gather all necessary information needed to implement • Wells Fargo/The City services
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Duration Milestone and tasks Responsible
• Complete and return the required legal agreements • The City 1 day Open demand deposit account(s)
• Provide account confirmation lette r and settlement • Wells Fargo instructio ns
• Provide MICR specifications • Wells Fargo
• Order deposit t ickets, check stock, and other supplies • Wells Fargo or The Cit y 9 days Online banking platform
• Ordertokensasneeded • Wells Fargo
• Set up online administration for reports and related • Wells Fargo services
• Coordinate training • Wells Fargo
• Complete training • The City
7 days Online treasury information reporting
. Set up online administration for reports and related • Wells Fargo services
• Coordinate training • Wells Fargo
• Complete training • The City
13 days ACH direct origination
• Determine transmission method • Wells Fargo/The City
• Provide file layout specifications • Wells Fargo
• Issue transmission ID • Wells Fargo
• Create test file • The City
• Perform transmission testing • Wells Fargo/The City
• Coordinate training (manual upload only) • Wells Fargo • Complete training, if applicable • The City
• Move transmission ID into production • Wells Fargo
• Monitor first files • Wells Fargo/The City
13 days Online ACH payments
• Establish service on ACH platform • Wells Fargo
• Identify at least one company administrator . Wells Fargo • Set up on line company administrator who manages user • The City enrollment, access to reports, and related services
• Coordinate training • Wells Fargo
• Complete training . The City
9days ACH Fraud Filter
• Review ACH activity • The City
• Coordinate training . Wells Fargo
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Duration Milestone and tasks Responsible
• Complete training • The City
• Set up optional 30-day review (before considering Stop • Wells Fargo option)
• Set up Stop option, if needed • Wells Fargo
30 days ARP (full with positive pay, partial with positive pay, or positive pay only)*
• Determine transmission method • Wells Fargo/The City
. Provide file layout specifications • Wells Fargo
• Issue transmission ID • Wells Fargo
• Create test file • The City
• Perform transmission testing • Wells Fargo/The City
. Coordinat e traini ng • Wells Fargo
• Complete training . The City
. Move transmission ID into production • Wells Fargo
• Monitor first files • Wells Fargo/The City
27 days Direct Bank Administration Institute (BAI) transmission • Determine transmission method • Wells Fargo/The City
• Develop capacity to receive and parse BAI files • The City • Provide file layout specifications • Wells Fargo
• Issue transmission ID • Wells Fargo
• Create test file • The City
• Perform transmission testing • Wells Fargo/The City
• Move transmission ID into production • Wells Fargo
• Monitor first files • Wells Fargo/The City
9 to 33 days Controlled disbursement
• Provide applicable MICR specifications and ARP • Wells Fargo documentation
• Provide test checks, if applicable • The City
• Perform check testing (MICR and image), if applicable • Wells Fargo 48 days Consolidated payables service
• Gather requirements, assign resources, and develop BRO, • Wells Fargo/The City if needed
• Provide and review standard file format specifications • Wells Fargo/The City • Attend kickoff meeting • Wells Fargo/The City
• Determine transmission method • Wells Fargo/The City
• Issue transmission ID • Wells Fargo
• Create test file • The City
• Perform end-to-end testing through transmission • Wells Fargo/The City channel
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Duration Milestone and tasks Responsible
• Produce system-generated file and receive test files with • Wells Fargo acknowledgments and confirmations
• Provide signoff • The City
• Coordinate training, if needed • Wells Fargo
• Complete training, if needed • The City
• Move file and transmi ssion into production • Wells Fargo • Monitor first files • Wells Fargo
21 days Consolidated receivables
• Gather requirements, assign resources, and develop • Wells Fargo/The City Business Requirements Document (BRD), if needed
• Review AES request • Wells Fargo/The City
. Attend kickoff meeting • Wells Fargo/The City
• Determine transmission method • Wells Fargo/The City
• Issue transmission ID • Wells Fargo
• Determine file layouts • Wells Fargo
• Create test file • Wells Fargo
• Perform transmission and file testing • Wells Fargo/The City • Complete product and transmission setup • Wells Fargo/The City • Provide signott • The City
• Coordinate train ing, if needed • Wells Fargo
• Complete training, if needed • The City
• Monitor first files • Wells Fargo
lOdays Remote deposit
• Order supplies, if applicable • Wells Fargo
• Establish service • Wells Fargo
• Provide scanner installation guide • Wells Fargo
• Coordinate training • Wells Fargo
• Complete training • The City
27 days Remote deposit with detail reporting
• Order supplies, if applicable • Wells Fargo/The City
• Establish service • Wells Fargo
• Provide scanner installation guide • Wells Fargo
. Determine transmission method, if needed • Wells Fargo/The City . Issue transmission ID, if needed Wells Fargo
• Create test file, if needed • Wells Fargo
• Perform transmission testing, if needed • Wells Fargo/The City • Coordinate training . Wells Fargo
• Complete training • The City
. Move Hansm1ssion ID into production, if needed • Wells Fargo . Monitor first files, if needed • Wells Fargo/The City City of Laguna Niguel I 79

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Duration Milestone and tasks Responsible
7 days Returned items with transmission
36 days with • Establish instructions • Wells Fargo
transmission • Determine transm ission method, if needed • Wells Fargo/The City • Issue transmission ID, if needed • Wells Fargo
• Perform t ransmission testing , if needed . Wells Fargo/The City • Move transm ission ID into production, if needed • Wells Fargo • Monitor first files, if needed • Wells Fargo/The City 14 days Sweep accounts
• Establish service • Wells Fargo
. Set up statement access • Wells Fargo
16 days Wholesale lockbox
• Provide sample invoices for imaging • The City
• Perform invoice testing and provide results • Wells Fargo • Provide lockbox number and live date • Wells Fargo
• Coordinate image training • Wells Fargo
• Complete image training • The City
26 days Wholesale lockbox with transmission
. Determine transmission method . The City/Wells Fargo
• Provide file layout specifications . Wells Fargo
. Issue transmission ID • Wells Fargo
• Provide sample remittance coupons and envelopes • The City • Perform transmission testing • Wells Fargo/The City
• Provide lockbox number and live date . Wells Fargo
. Coordinate tra ining • Wells Fargo
• Complete training • The City
. Move transmission ID into production • Wells Fargo
• Monitor first files . Wells Fargo/The City
46 days Wholetail lockbox
• Provi de sample rem ittance coupons and envelopes • The City • Perform coupon and envelope testing and provide results • Wells Fargo • Provide lockbox number and live date • Wells Fargo
• Coordinate t raining • Wells Fargo
• Complet e tra ining • The City
46 days Wholetail lockbox with transmission
• Determine transmission method • The City/Wells Fargo
• Provide file layout specifications . Wells Fargo
• Issue transmission ID • The City
. Provide sample remittance coupons and envelopes • The City City of Laguna Niguel I 80

WELLS FARGO
Duration Milestone and tasks Responsible
• Perform coupon and envelope testing • Wells Fargo
• Perform transmission testing • Wells Fargo/The City
• Provide lockbox number and live date • Wells Fargo
• Coordinate training • Wells Fargo
• Complete training • The City
• Move transmission ID into production • Wells Fargo
. Monitor first files . Wells Fargo/The City
lOdays Wires (online initiation)
• Establish service • Wells Fargo
• Coordinate training • Wells Fargo
• Complete training • The City
2 days ZBA
. Set up ZBA . Wells Fargo
* Adding ARP or positive pay to an existing account is cycle dependent; we can add either service only at the beginning of a statement cycle, if adding it to an existing account
t Excludes Perfect Receivables BAI file for wires, which has a 27-day lead time Training
Our mission is to pro vide you with a comprehensi ve program of relevant t raining and support tools that you can conveniently access when you need them. The City can choose from a variety of on line tools such as interactive, on-demand training courses . These training courses include:
• Product overviews that include high-level instruction for tech savvy users • Functional tutorials that provide in-depth , step by step training for users who want the details
Each training course is broken down into several micro-videos. You can choose to complete the entire course from start to finish or jump around to the topics that interest you. You can always go back and review sections and stop and start the course as needed . The City can use this option if you need a refresher on an existing service, or if you need to train a new employee. The training is available as long as you have the service.

We also offer in-app help within our service applications that includes resource and quick reference guides (QRGs). Here you will find overviews and instructions for accessing your services and reports and uploading files . QRGs offer at a glance information about accessing your services.

Your implementation consultant can provide additional t raining, as needed, and will supplement on line learning solutions so you receive full training support .

Training with your implementation consultant
Your dedicated implementation consultant can provide additional training options, as needed, and will supplement online learning solutions so you receive full training support . The City can discuss additional on-site training needs.

City of Laguna Niguel I 81

WELLS FARGO
Post-implementation training
After your implementation is complete, you can call or email GPL Service who can help you and your staff with questions about your new banking services. GPL Service representatives are available Monday through Friday from 4:00 a.m. to 6:00 p.m. Pacific Time and Saturday from 6:00 a.m. to 12:30 p.m. Pacific Time .

Commercial card
Prior to your commercial card program implementation, your Wells Fargo relationship team gathers information to satisfy credit, legal, and regulatory requirements for the service. We also work with you to collect signatures for the required agreements . The lead time for this information gathering can vary based on project scope, customer engagement, and situation .

During implementation
After pre-implementation activities are complete, setup of your commercial card service can take 12 to 14 business days. During implementation, your commercial card program implementation consultant gathers additional details for your program and cardholders, coordinates any necessary technical resources, and develops a training plan for your program administrators.

Once your setup is complete, your commercial card payables account manager works with you to develop your customized program rollout and training for cardholders and approvers.

Sample implementation schedule
The following schedule includes approximate timeframes for completion and actions required of both parties . Implementation begins once we complete all pre-implementation activities.

Duration Milestone and tasks Responsible
lOdays
Varies
1 day
• Complete all required KYC due diligence processes
. Kick-off call (depending on size and scope of
implementation)
• Finalize services and pricing
• Complet e any credit or regulat ory requirements
• Gather all necessary information needed to implement
services
• Complete and return the required legal agreement s
Open account{s)
• Provide account confirmati on letter and settlement
instructi ons
• Provide M ICR specification s
• Order deposit ti ckets. check stock, and other supplies City of Laguna Niguel I 82
• Wells Fargo/The City
• Wells Fargo/The City
• Wells Fargo/The City
• Wells Fargo/The City
• Wells Fargo
• The Cit y
• Wells Fargo
• Wells Fargo
• Wells Fargo or the City

WELLS FARGO
Duration Milestone and tasks Responsible
9days Expense management service
• Provide access to expense management application • Wells Fargo • Order tokens as needed • Wells Fargo
• Set up online administration for reports and related • Wells Fargo services
• Coordinate training • Wells Fargo
• Complete training • The City
12 to 14 business Program setup
days • Provide GL interface file format detail • The City • Provide cardholder list and profile details • The City • Establish company on card system • Wells Fargo
• Complete MCC template worksheet • The City
• Train administrators and provide cardholder training
material • Wells Fargo
• Coordinate program administrator training
• Roi lout card holder training and card distribution • Wells Fargo • The City
9days Virtual Card Payments
• Provide access to Virtual Card Payments application • Wells Fargo • Order tokens as needed • Wells Fargo
• Set up online administration for reports and related • Wells Fargo services
• Coordinate training • Wells Fargo
• Complete training • The City
Training
An important part of imp lementing a commercial card program involves determining what educationa l materials and training you require. We take a customized approach to training, with the end goal of employees feeling confident using the program on day one. The amount of training employees require will vary based on their role in the expense management process . We recommend budgeting 30 minutes for end users and two to three hours for program administrators.

Training materials
Our online interactive help page and quick reference guides support your staff in these roles:
• Cardholders- Learn to view and code card transactions, upload receipt images, and check transaction status
• Approvers- Learn to approve transactions , view reports, and check approval status • Mobile service users- Learn to track expenses while on the go, from receipt capture and coding to approvals and reconciliation
City of Laguna Niguel I 83

WELLS FARGO
End-user training
We offer end-users live, instructor- led webinars , and on-demand recorded trainings . Training topics include :

Training topics
Account details Reconciling tra nsactions
Approving tran saction s Returning transaction s
Mobile service Role overview
Receipt management Stat ement s
Our on-demand tutorials cover some of the same topics covered in the live t raining . The t utorials offer flexibility for your staff, who can access these audio and visual recordings 24 hours a day, seven days a week.

Program administrator training
Training for program adminis t rators begins during implem entation to help them gain confidence with administration of the card program. We cover the following topics during training :

Training topics
• Integrate program data with your systems
• Escalate issues
• Communicate with your payables account manager for program success • Help cardholders and approvers master their role in the expense process • Create reports and ext ract finance data files
• Train cardholders, approvers, and new program administrators using bank-provided materials and resources • Distribute, manage, and track cards
• Update spend parameters including purchase limits, merchant category code inclusions and exclusions, and cash advance features
Your payables account manager and our commercial card service centers offer support, answer questions, and help solve issues.

Phased approach
To help your program administrators master our expense management service, we use a three stage, in-depth training approach described in the following table.

City of Laguna Niguel I 84

WELLS FARGO

1. Design
This phase concentrates on building
the basic parameters of our system,
configured to your needs. For
example, you decide what custom
codes you would like to append to
cardholder transactions, such as cost
center, project code, employee
number, and anything else relevant
to your GL and reporting
requirements .

Additional training

2. Program admin. training
This phase drills down to the details
of our system. We review how to:
• Create and manage
employees profiles
• Create and manage cards
• Manage notifications
• Manage and create receipt
rules
• Create reports and templates
• Use tools for monitoring the
program

3. Cycle end training
This phase demonstrates the
process of integrating program data
with your other systems. After the
program setup is complete and one
statement cycle finalized, we help
your program administrators
successfully:
• Extract a data file
• View the corporate bill
• Run data analysis reporting
• Search for transactions
At your direction, your payables account manager is available to assist with setting up on-site training support for the City.

City of Laguna Niguel I 85
■

CITY OF LAGUNA NIGUEL
BALANCE! a COMPENSATION INFORMATION
IAMTH 000230 RECOUPMENT MONTHLY
--GENERAL ACCOUNT SERVICES -~
22051 010000 ACCT MAINTENANCE
DS001 010021 ZERO BALANCE MONTHLY BASE
CK021 010100 DEBITS POSTED
15007 010101 DESKTOP DEPOSIT-DEPOSIT CREDITED

DEPOSITORY SERVICES --
CK161 100006 CASH DEPOSITED IN WF BRANCH
Deposit assessment
Account
Account
Debit
Credit
Dollar
Wells Fargo Treasury Management Pricing
Fee to partially recover insurance premiums the
Bank pays to the FDIC for deposit insurance.

Monthly charge based upon average monthly ledger
balance. Assessed on per thousand dollar basis.

See Commercial Account Agreement for additional

0.12750 information.

Monthly maintenance charge for ODA with non
return of checks (CheXstor) - one account

10.00000 statement included
Per account charge for Zero and Target Balance

10.00000 accounts.

Per item charge for debit items, other than

0.05000 checks or drafts, posted to an account.

For each deposit submitted through the Desktop
Deposit service, either through the CEO portal or
mobile, a charge of one will be made to the

1.25000 customer.

Cash deposited in Wells Fargo branch verified by

0.00600 teller at the lime of deposit.

Pricing as of May 2025
Customer Price Report 1 of 15
IA/F . J.' ;•-:.Af~ ;
1 '·· • '
Code Code Service Description Charge.Basia Price Element Definition Per deposit fee for deposits processed in a cash
08173 100100 CASH VAULT DEPOSIT Deposit 3.00000 vault
Cash deposited at Wells Fargo branch in tamper
evident dual pouch bag post verified after
CK199 10001A POST VERIFY CASH DEPOSITED Dollar 0.00400 deposit is made.

Per roll charge for each roll of coin furnished
CK131 100040 ROLLED COIN FURNISHED BY WF BRANCH Coin roll 0.80000 by a Wells Fargo branch.

Per dollar fee for currency furnished by Wells
CK141 100040 CURRENCY FURNISHED BY WF BRANCH Dollar 0,00600 Fargo branch.

Per item fee for each deposited item that is
CK061 100400 RETURNITEM-CHARGEBACK Transaction 19.00000 returned and charged back to depository customer Fee for each retrieved image of a returned item
CK062 100416 RETURN ITEM RETRIEVAL-IMAGE Transaction 5.25000 within CEO Returned Item Services Monthly base fee for customers enrolled in the
CK064 100416 RETURN ITEM SERVICE MTHLY BASE Customer ID 0,00000 CEO Returned Item Services Per item fee for each deposited item that has
been returned by the paying back and is
CK075 100402 RETURN ITEM REDEPOSITED Transaction 15.00000 redeposited in an attempt to collect funds Per deposit fee for deposit in Wells Fargo branch
balanced and verified by teller at the time of
08052 100006 BRANCH DEPOSIT Deposit 6.00000 deposit.

Per deposit fee for Wells Fargo branch deposit
22723 10001A BRANCH DEPOSIT POST VERIFY Deposit bag 4.00000 made in tamper evident dual pouch bag Customer Price Report 2 of 15
WF AFP
Cod.a Code Service Description Charge Basis Price Element Definition Per report charge for a cash vault daily
08351 100511 CASH VAULT ADJUSTMENT REPORT-EMAIL Report 1 DD.DODOO adjustment report delivered via e-mail.

Per box charge for a half box of coin which
08116 100145 CASH VAULT COIN FURN-STD HALF BOX Coin box 4.00000 contains 25 rolls of one denomination Per box charge for a full box of coin which
08115 100146 CASH VAULT COIN FURNISHED-STD BOX Coin box 4.00000 contains 50 rolls of one denomination Per roll charge for individual rolls of coin
0B110 100144 CASH VAULT COIN ROLLS FURNISHED Coin roll D.12000 furnished Currency furnished in change orders. Billed on a
08416 100199 CASH VAULT CURRENCY FURNISHED Dollar 0.00130 per dollar furnished basis.

Processing and verification charge for currency
and/or coin deposited. Billed on a per dollar
08290 100199 CASH VAULT CURRENCY/COIN DEPOSITED Dollar 0.00130 deposited basis.

Per adjustment charge for each adjustment made to
depository account when verified cash total does
not equal the declared cash total on deposit
08160 100501 CASH VAULT DEP - ADJUSTMENT Adjustment 8.00000 ticket.

Per deposit charge for a loose coin deposit that
does not conform to the Federal Reserve's
specifications for a "standard bag". A partial/
mixed coin bag contains either a non-standard
amount of one denomination or mixed
08071 100111 CASH VAULT DEP - NONSTD COIN BAG Coin bag 12.00000 denominations.

Customer Price Report 3 of 15
WF::-0 ' ~ AFP::·• · ' "'.
- j . .

Code Code Service D&Sorlpllon C.har~e Basis Price Element Definition 08067
08357
08181
08630
08114
002
706
790
100113
100701
100141
100147
100147
100224
100224
100230
CASH VAULT DEP - STD COIN BAG Coin bag
CASH VAULT DEPOSIT REPORT-EMAIL Report
CASH VAULT ORDER -AUTOMATED Transaction
CASH VAULT ORDER - FED STD BAG Coin bag
CASH VAULT ORDER - HALF STD BAG Coin bag
DEPOSITED CHECK Check deposited
DESKTOP DEPOSIT-DEPOSITED ITEM Check deposited
ELECTRONIC DEPOSIT - DEP ADJUSTMENT Adjustment
Per bag charge for a loose coin deposit
containing a specific number of coins of one
denomination - the number of coins in a standard
bag is set by the Federal Reserve. The deposit is

3.50000 usually verified by the weight of the bag.

Per report charge for a cash vault daily deposit
100.00000 report delivered via e-mail
Per order charge for a coin/currency order placed

7.00000 via transmission, CEO, or touch-tone.

Per bag charge for a full bag of coin which

3.00000 contains 100 rolls/ 2 boxes of one denomination.

Per bag charge for a half bag of loose coin

3.00000 furnished which contains one denomination.

Deposited checks drawn on U.S. banks, including

0.22000 Wells Fargo.

Charge per item deposited via Desktop Deposit for
checks drawn on Wells Fargo and on banks other
than Wells Fargo. Applies to items submitted
through CEO portal or mobile. For each item, a

0.26000 charge of one will be made to the customer.

Charge for adjustment to file total of

26.25000 electronically deposited items.

Customer Price Report 4 of 15
WF AFP
Coda Code Service Description Charge Ba11ls Price Element Deflnltlon

PAPER DISBURSEMENT SERVICES
---.-~~-
Charge per item paid when the ending ledger
24250 150340 OVERDRAFT CHARGE-PAID ITEM Transaction 35.00000 balance is negative Per check charge for each check posted to account
DS191 150122 PAYEE VALIDATION STANDARD-ITEM Check paid 0.03500 with payee validation services.

This charge is for non customers cashing checks
drawn on Wells Fargo Bank. Wholesale customer (
account holder) absorbs full fee and no cost is
22810 150500 WF CHK CASHED FOR NONACCT HOLDER Check cashed 10.00000 passed on to payee.

Per item charge for automated stop payment
renewal on DOA, ARP or Controlled Disbursement
22030 150412 STOP PAYMENT -AUTO RENEWAL Stop payment 4.00000 account.

Per item charge for Image Positive Pay images
34336 150724 POSITIVE PAY EXCEPTION-ONLINE IMAGE Image retrieved 2.00000 retrieved via CEO Charge for each image retrieved in any of the
Desktop Deposit reports. Charge is incurred each
and every time an image appears on a report and/
12816 151352 DESKTOP DEPOSIT IMAGES RETRIEVED Image 0.00000 or link is clicked to view it.

Charge for positive pay checks that are presented
12908 150310 POS PAY CHECKS WITH NO ISSUE RECORD Check 0.50000 without matching issue information on file.

Per item charge for Positive Pay exception
returned per customer request - includes stale-
12505 150222 POSITIVE PAY EXCEPTION CHECKS RETND Check returned 7.00000 dated items that have been returned Customer Price Report 5 of 15
12903 150310 POSITIVE PAY EXCEPTIONS- ITEM Exception 2.25000 Per item charge for Positive Pay Exceptions Per item charge for the receipt and posting of
check issue data received on Positive Pay Only
accounts. Includes customer, vendor, NDM, and
CEO Fraud Manager originated. PPO does not
12682 150120 POSITIVE PAY ONLY- ITEM Check issued 0.00000 include reconciliation services.

Monthly charge for providing positive pay
services on accounts that do not have Account
12681 150030 POSITIVE PAY ONLY MONTHLY BASE Account 10.00000 Reconciliation services 12670 150410 STOP PAYMENT - ONLINE Stop payment 17.00000 Per item charge for PC initiated stop payment.

Per item change for checks or drafts presented
for payment on an account, including checks that
22202 150100 DOA CHECKS PAID Check paid 0.35000 are presented electronically.

PAPER DISBURSEMENT RECON SERVICES -~- --
Per item charge for all records entered manually
34337 200201 ONLINE CHECK ISSUES-ITEM Check issued 0.03000 or imported via CEO Fraud Manager Per item fee for maintaining issue records that
12687 209999 ARP AGED ISSUE RECORDS ON FILE-ITEM Record 0.30000 remain outstanding after 60 days.

Per item charge for the receipt and posting of
check issue data received on Full ARP accounts.

Includes items originated by customer, vendor,
12377 200201 ARP FULL RECON-ITEM Check issued 0.12000 NDM, and CEO Fraud Manager.

Customer Price Report 6 of 15
WF AFP
Code Code Service Description Charge Basia Price Elefllent Definition Minimum 75.00000
Per item charge for manually posting check
register input for Full ARP or Positive Pay
accounts. This is supported on an exception
12608 200210 ARP MANUAL INPUT ISSUE INFO-ITEM Check issued 8.00000 basis only.

Monthly charge per account for providing full
12060 200010 ARP MONTHLY BASE - FULL Account 120.00000 reconciliation service Charge for each ARP report produced that is
delivered via paper or transmission or in PDF
format on CEO Treasury Information Reporting.A
This element is not charged for Excel/CSV format
12604 200306 ARP OPTIONAL REPORTS Report 20.00000 on CEO Treasury Information Reporting Per transmission charge for delivery of check
reconcilement information via direct transmission,
12430 200301 ARP OUTPUT - TRANSMISSION Transmission 20.00000 NDM or to a vendor.

Per report fee for transmission of ARP statement
12615 200304 ARP PDF STMTS/RPTS-TRANSMISSION Account 150.00000 or reports in PDF format.

Monthly base fee per account for receiving ARP
statements and/or optional reports delivered via
CEO in PDF format. This includes Positive Pay
Only accounts receiving optional reports in PDF
34350 200306 ONLINE ARP STMT & RPTS MONTHLY BASE Account 25.00000 format.

Customer Price Report 7 of 15
12694 200100 OUTGOING TRANSMISSION - PER ITEM

GENERALACHSERVICES --
CK018 250201 ELECTRONIC CREDITS POSTED
ES211 250102 ACH FUTURE DATED ITEM
ES216 250102 ACH SAME DAY
ES206 250120 ACH ORIGINATED -ADDENDA REC
ES349 250220 ACH RECEIVED ADDENDA
ES344 250202 ACH RECEIVED ITEM
06505 250302 ACH RETURN ADMIN -ELECTRONIC
Item reported
Credit
Transaction
Transaction
Addenda record
Addenda record
Transaction
Return
Charge for each item included on an ARP outgoing
transmission. This is in addition to per file
transmission and optional report fees. NOTE:
this does not include volume associated with the

0.03000 ARP File Confirmation summary or detail report.

Per item charge for electronic and non-paper

0.05000 credits posted.

Per item charge for originated ACH transit one
day items. Volumes are received from DDAES211,

0.35000 DDAES212, DDAES213 and DDAES220.

Per ACH Same day originated items. Volumes are

1.50000 received from DDAES216 and DDAES217.

Per addenda record charge for remittance data in

0.00000 originated ACH addenda records
Per addenda record charge for remittance data in

0.03000 received ACH addenda records
Per item charged for ACH received item (credit

0.30000 and debit)
Per item charge for ACH administrative return

6.50000 items - information reporting reporting advice
Customer Price Report 8 of 15
Per item charge for ACH administrative return
06504 250302 ACH RETURN ADMIN -MANUAL Return 11.00000 items - mail reporting advice Per item charge for ACH return items -
information reporting and transmission reporting
06502 250302 ACH RETURN ITEM-ELECTRONIC Return 6.50000 advice Per item charge for ACH return items - fax and
06503 250302 ACH RETURN ITEM-MANUAL Return 11.00000 mail reporting advice Per item charge for ACH unauthorized return items
06507 250312 ACH RETURN UNAUTHORIZED -ELECTRONIC Return 6.50000 information reporting reporting advice Per item charge for ACH unauthorized return items
06506 250312 ACH RETURN UNAUTHORIZED -MANUAL Return 11.00000 fax reporting advice Per item charge for processing unauthorized ACH
return items to cover the NACHA Unauthorized
06511 250312 ACH RETURN UNAUTHORIZED QUALITY FEE Return 5.00000 Entry Fee.

Fee for each batch the customer releases to the
ESB03 250510 ONLINE PAYMENTS BATCH RELEASE Batch/file 0.00000 bank for processing ESB01 250501 ACH TRANSMISSION CHARGE Batch/file 0.00000 Per file charge for ACH transmission input Per item charge for processing manual and CEO
ES230 250620 ACH DELETE - ITEM Delete 30.00000 online ACH item delete requests ES346 250622 ACH EXCEPTION PROCESS-DUPLICAT FILE Batch/file 50.00000 Per file charge for duplicate ACH files Per item charge for processing manual and CEO
ES361 250642 ACH REVERSAL - ITEM Reversal 35.00000 online ACH item reversal requests Customer Price Report 9 of 15
'.".'l'f..1 "· •· AFP,,._.-:,. ·:. .,--, •. __ 1:· -,; -. " -..,., -· Code Code Servlc_e Description Charge Basis Price Element Definition , • ' • Monthly base fee assessed for each Company ID set
34377 250000 ONLINE PAYMENTS BASE FEE Company ID 25.00000 up on ACH Payments Charge per any one day item originated through
ACH Payments. The volume for this element is
determined by summing elements DDA34381, DDA34382,
ACH1D 250102 ONLINE PAYMENTS NEXT DAY ITEM Transaction 0.35000 DDA34387 & DDA343BB Charge per any same day item originated through
ACH Payments. The volume for this element is
determined by summing elements DDA34379, DDA34380,
ACHYD 250102 ONLINE PAYMENTS SAME DAY ITEM Transaction 1.50000 DDA34385, and DDA34386 Per investigation request charge for non-complex
investigations done by ACH Delivery. For complex
ES339 251010 ACH SPECIAL INVESTIGATION Inquiry 35.00000 investigations, see DDA06508.

Monthly base charge for CEO ACH Fraud Filler
34333 251050 ACH FRAUD FILTER REVIEW MO BASE Account 5.00000 Review Service.

Monthly base charge for Fax ACH Fraud Filter Stop
ES352 251050 ACH BLOCK/FRAUD FILTER STOP BASE Account 5.00000 and ACH Block services.

Per item charge for Fax ACH Fraud Filter Stop and
ES353 251052 ACH BLOCK/FRAUD FILTER STOP - ITEM Transaction filtered 2.25000 ACH Block items.

Per item charge for CEO Fraud Filter Review Items
34335 251053 ACH FRAUD FILTER REVIEW - ITEM Transaction filtered 2.25000 er / dr) Customer Price Report 10 of 15
Per item charge for electronic ACH Notifications
of Change - information reporting and
06525 250302 ACH NOC - ELECTRONIC Transaction 6.50000 transmission reporting advice Charge assessed for each ACH batch or file
ES231 250620 ACH DELETE/REVERSE - BATCH/FILE Batch/file 40.00000 manually deleted or reversed.

Monthly maintenance charge per report in Treasury
Information Reporting. Fee is charged per
enrolled ACH Company ID for ACH Origination/
Reject report. Customer is charged per enrolled
account for both ACH Customer Activity and ACH
34330 250703 ACH SUBSCRIPTION PER CO ID Account/company ID 5.00000 Receive reports.

WIRE &_OTHER FUNDS TRANSFERSERviCE
Outgoing drawdown request initiated in CEO Wires
to debit a non-Wells Fargo account in the USA,
and have funds sent to a Wells Fargo USA account.

Incoming wire fee will also be incurred when
funds from the drawdown are credited to the
ES181 350524 WIRE DRAWDOWN VANTAGE/AP! Transaction 10.00000 account.

Fee per incoming domestic drawdown response wire
ES078 350300 WIRE IN DRAWDOWN RESPONSE-USA ACCT Message 22.00000 received on a Wells Fargo USA account.

Customer Price Report 11 of 15
WF AFP
f:o_!!_e Code Servica Description Charge Basis Price Element Definition Incoming U.S. domestic wire crediting a Wells
Fargo USA account, this includes incoming wires
from a Wells Fargo originated wire, not
ES030 350300 WIRE IN TO USA ACCT-USA DOMESTIC Transfer 3.50000 designated as a book transfer.

Wire book transfer between two Wells Fargo USA
accounts under the same CEO ID initiated through
CEO Wires book transfer workflow (i.e. select
templated or freeform book transfer option, or
write "book" in the payment field for imported
ES141 350120 WIRE BOOK TRANSFER VANTAGE/AP! Transfer 8.00000 data file) Outgoing USA domestic wire (freeform/templated/
import) initiated in CEO from a Wells Fargo USA
account. Includes Create Wire or Create Template
screens (for Wire, Drawdown, Federal Tax, or
Federal Tax Bulk templates), or wires imported as
ES139 350100 WIRE OUT DOMESTIC VANTAGE/AP! Transfer 13.00000 a payment.

Assessed per incoming wire requiring repair.

Applies to incoming Domestic and International
wires crediting a Wells Fargo account, Canadian
18030 350330 WIRE IN REPAIR Exception 9.00000 account, or U.S. Foreign Currency Account.

Customer Price Report 12 of 15
Fee per wire investigation which can include:
tracers/recalls/returns/amendments/photocopies.

This only applies to wires originated from a
18602 350560 WIRE INVESTIGATION Investigation 65.00000 Wells Fargo USA account.

Fee assessed for processing and handling
associated with a returned customer originated
wire from a Wells Fargo U.S. Domestic (Hogan), U,
18326 359999 WIRE OUT USA ACCT-RETURNED TO CUST Transfer 55.00000 S. Foreign Currency or Canadian Branch account.

INFORMATION SERVICES - ~--
---------- ---~~ Channel access fee for transmission access lo 34101 400052 PLUS INFO RPTG BASE PER ACCT account 60,00000 information reporting data Information reporting items loaded in Vantage,
34129 400055 REPORTING ITEMS LOADED item loaded 0.01000 API and Transmission channels.

Per CEO Wire template stored within CEO Wires
each month. Applicable if the template is present
34216 400832 WIRE TEMPLATE ONLINE Occurrence 0.33000 for> 15 calendar days, For each depository account set up for the
Desktop Deposit service, a volume of one will be
15017 400058 DESKTOP DEPOSIT MONTHLY BASE Account 20.00000 made to the customer.

Customer Price Report 13 of 15
WF AFP
Code Code Service Description Charge Basis Price Element Definition 15003 400272 DESKTOP DEPOSIT REPORT PER ITEM Item reported INVES"f"1ENTIC0STGDY SERVIC::ES
22087 450403 SWEEP STAGECOACH MUTUALFND ELECTNIC Statement 22094 450270 SWEEP STAGECOACH MUTUAL FND MO BASE Account -Set11p Charges
34376 251120 ONLINE PAYMENTS ORIG SETUP FEE Setup
06092 251001 ACH ORIGINATION NEW COMP ID-SET UP Setup
For each item that appears on any report pulled
via the Desktop Deposit service, a volume of one
will be made. Charge is incurred each and every

0.00000 time the report is pulled.

Eleclronic \lell very of lhe -Stagecoach Sweep Money

0.00000 Market Mutual Fund monthly statement
Monthly base charge per Stagecoach Sweep Money
125.00000 Market Mutual Fund account
One time customer set up fee far ACH Payments
375.00000 service
100.00000 New ACH COID setup charge for ACH Origination Customer Price Report 14 of 15
A book transfer is a wire between two accounts on the Wells Fargo US account system initiated via CEO Wires or Payment Manager. The debit and credit accounts are in the same relationship and linked by the bank on the wire system
For additional service definitions, please contact your Treasury Management Sales Consultant or visit:
www.wellsfargo .com/accountanalysis
Customer Price Report 15 of 15
Global Payments &
Liquidity
Proposal for City of Laguna Niguel
WellsOne® Commercial Card
5/12/2025
Revenue Share program:

II
Revenue Share is paid out on a quarterly basis and is calculated and applied retroactively by multiplying the applicable Revenue Share bps times qualified annual spend for the previous quarter. Revenue Share will be paid by ACH into your selected checking account at the end of the month following your quarterly anniversary . Please see your Revenue Share schedule below for more detailed information Qualified annual spend
Charge Cycle: ,Bi-Weekly Monthly Monthly •Monthly
Annual Volume Tiers Days to Pay: 1 1 7 14
$1,000,000 , $1,499,999 '. Basis Points** 180 174 · 165 158 $1,500,000 ' $1,999,999 : Basis Points•• 193 188 • 180 170 $2,000,000 • $2,999 ,999 : Basis Points•• 198 193 · 187 178 $3,000,000 ; $3,999,999 , Basis Points** 200 195 189 182 $4,000,000 ' $4,999,999 • Basis Points** 203 197 ; 191 184 $5,000,000 , $7,499,999 , Basis Points**
j
206 199 193 186
$7,500,000 $9,999,999 Basis Points** 209 201, 195 188
$10,000,000 And Above• Basis Points** 212 205 200 194
Custom Interchange Revenue Share Schedule (Basts Points) 105 105 105 105 * Wells Fargo will segr egate or exclude Custom lnt erchallge Transactio ns as defi11ed by Visa"' or Master Card'. Custo m l11t ercha11ge Trn11sact io11 shall rnea11 (i) cert ain t ransact ions subject to select large t icket tran saction requir em ents, qualified and deter mined by Visa''' or Mast erCc11d'' , as applicable, in its sole and absolut e discretion and (ii) transactions with m erchants pa1 ticipatin g in prornotio"al intercha" ge program s offere d by Visa · or Mast erCard" including the Visa Partn er Progr am or the M ast erCard Partn er Program. ''- Basis point s equal O 01 %
© 2025 Wells Fargo Company.

Fee schedule:

One-Time Set-Up Fee
Program Maintenance
WellsOne Expense Manager
Recurring Fees . Transaction Fee
Miscellaneous
Fees - - Apply
Only If
Customer
Elects and/or
Uses Any such
Service
Card Issuance
Cash Advance Fee
Cross-Border Transactional Fee
Card Artwork (Logo)
Custom Card Designt
Virtual Travel Account
• Transaction Fee
Convenience Check
• Transaction Fee
• Program Maintenance
Custom Data Solutions
• Custom Report Set-up
• Custom File Monthly
• Custom File Transmission
• WellsOne Expense Manager
Custom Report Development
WellsOne Corporate Executive
Card
Proxy PayttTransaction Fee
Waived
Waived
Waived
Waived
Waived
2% I $2 Minimum
1% / Transaction
Waived
$1,000 I per standard design set-up
$0.50/Transaction
2% I $2 Minimum
$250 I Month
$125 / Hour
$175 / Month
$5.00 I Transmission
' Costs to build custom reports are variable based on the customer's requirements and will be provided in advance of any work initiated.
$250/Card
• $5.95 I Transaction
For customers who opt to use ACH reimbursement for out-of-pocket expenses, separate ACH fees will apply. • For customers who opt to use WellsOne Virtual Card Payments, Separate Payment Manager fees may apply. • For customers who opt to use an external account for analysis, a $5/month bank statement fee may apply. • For customers who opt to use a digital wallet, mobile carrier fees may apply. t For customers who opt to use a non-standard designs, additional costs, and requirements, including design creation fees and minimum card order requirements, may apply.
ttFor customers who opt to use Proxy Pay Service, customer must use a MasterCard branded Virtual Card.

This pricing proposal is valid for 60 day(s) until July 11, 2025 subject to material changes in market conditions, in which case Wells Fargo reserves the right to revise this proposal to account for such changes in said market conditions. © 2025 Wells Fargo Company .

A WellsOne® Commercial Card program is subject to credit underwriting and approval. This proposal presents indicative program pricing only and is not an offer or commitment to extend credit.

Laguna Niguel City CouncilAugust 5, 2025

Laguna Niguel City Council
August 5, 2025