#1CREDIT SUISSE Investor Presentation Investor Relations November 2016#2Disclaimer Cautionary statement regarding forward-looking statements This presentation contains forward-looking statements that involve inherent risks and uncertainties, and we might not be able to achieve the predictions, forecasts, projections and other outcomes we describe or imply in forward-looking statements. A number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions we express in these forward-looking statements, including those we identify in "Risk Factors" in our Annual Report on Form 20-F for the fiscal year ended December 31, 2015 filed with the US Securities and Exchange Commission, and in other public filings and press releases. We do not intend to update these forward-looking statements except as may be required by applicable law. We may not achieve the benefits of our strategic initiatives We may not achieve all of the expected benefits of our strategic initiatives. Factors beyond our control, including but not limited to the market and economic conditions, changes in laws, rules or regulations and other challenges discussed in our public filings, could limit our ability to achieve some or all of the expected benefits of these initiatives. Statement regarding purpose and basis of presentation This presentation contains certain historical information that has been re-segmented to approximate what our results under our new structure would have been, had it been in place from 2015. In addition, "Illustrative," "Ambition" and "Goal" presentations are not intended to be viewed as targets or projections, nor are they considered to be Key Performance Indicators. All such presentations are subject to a large number of inherent risks, assumptions and uncertainties, many of which are outside of our control. Accordingly, this information should not be relied on for any purpose. In preparing this presentation, management has made estimates and assumptions which affect the reported numbers. Actual results may differ. Figures throughout presentation may also be subject to rounding adjustments. Statement regarding non-GAAP financial measures This presentation also contains non-GAAP financial measures, including adjusted results. Information needed to reconcile such non-GAAP financial measures to the most directly comparable measures under US GAAP can be found in this presentation, which is available on our website at credit-suisse.com. Statement regarding capital, liquidity and leverage As of January 1, 2013, Basel 3 was implemented in Switzerland along with the Swiss "Too Big to Fail" legislation and regulations thereunder. As of January 1, 2015, the Bank for International Settlements (BIS) leverage ratio framework, as issued by the Basel Committee on Banking Supervision (BCBS), was implemented in Switzerland by FINMA. Our related disclosures are in accordance with our interpretation of such requirements, including relevant assumptions. Changes in the interpretation of these requirements in Switzerland or in any of our assumptions or estimates could result in different numbers from those shown in this presentation. Capital and ratio numbers for periods prior to 2013 are based on estimates, which are calculated as if the Basel 3 framework had been in place in Switzerland during such periods. Unless otherwise noted, leverage exposure is based on the BIS leverage ratio framework and consists of period-end balance sheet assets and prescribed regulatory adjustments. Beginning in 2015, the Swiss leverage ratio is calculated as Swiss total capital, divided by period-end leverage exposure. The look-through BIS tier 1 leverage ratio and CET1 leverage ratio are calculated as look-through BIS tier 1 capital and CET1 capital, respectively, divided by end-period leverage exposure. CREDIT SUISSE November 2016 2#3Content Page 1 Credit Suisse in a nutshell 4 2 Strategic actions 15 A Strengthen capital base 16 B Reduce fixed costs 17 C Rebalance our business mix 21 3 3Q16 results ༠ ད 4 Appendix CREDIT SUISSE 23 34 November 2016 3#4Credit Suisse Group: key metrics Financial Performance In CHF bn CREDIT SUISSE Credit Suisse in a nutshell Senior Credit Ratings¹ Credit Suisse AG (the Bank) Short- Long- term term Outlook Moody's P-1 A2 Stable S&P A-1 A Stable Fitch Ratings F1 A Stable 9M16 2015 2014 Capital ratios Basel 3 look-through Net revenues 15.1 23.8 26.2 CET1 ratio Pre-tax income/(loss) (0.1) (2.4) 3.6 Pre-tax income CET1 leverage ratio excluding adjustment items 0.4 2.1 5.0 Tier 1 leverage ratio 3Q16 2015 2014 12.0% 11.4% 10.1% 3.4% 3.3% 2.5% 4.6% 4.5% 3.5% Net income/(loss) attributable to shareholders (0.1) (2.9) 1.9 A balanced business portfolio Swiss Universal Bank Return on equity Global Markets International Wealth Management Investment Banking & Capital Markets CC & SRU attributable to shareholders 0% (7)% 4% 33% 28% 22% Net new assets 34.5 46.9 27.9 2015 21% 47,690 Assets under management 1,255 1,214 1,369 2% adjusted Asia Pacific o/w 1,500 PB o/w 480 CIB 1,980 3,790 relationship pre-tax Total assets 807 821 921 income² 5% employees as of 3Q16 6% managers 15% 21% Net loans 275 273 23% 273 24% 650 as of 3Q16, 1,160 CET1 = Common equity tier 1. PB Private Banking. CIB Corporate & Institutional Banking. = 1 Relates to our senior unsecured debt and are subject to change without notice. Latest rating action on July 20, 2016. 2 Excluding Corporate Center and SRU. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix. CREDIT SUISSE November 2016 4#5Credit Suisse Core results by business activity Credit Suisse in a nutshell Reported results by business activity 1 - 9M16 Net revenues Total operating expenses2 Pre-tax income 16% 34% 5% 39% 46% CHF 16.1 bn CHF 12.9 bn CHF 3.2 bn 53% 59% 20% 7% 9% 6% 6% Investment banking Private banking Corporate & institutional banking Asset management Note: Core Results do not include revenues and expenses from our Strategic Resolution Unit. 496 mn and pre-tax income/(loss) of CHF (409) mn. 2 Including provision for credit losses. CREDIT SUISSE 1 Excluding Corporate Center net revenues of CHF 87 mn, total operating expenses (incl. provisions for credit losses) of CHF November 2016 5#6Capital ratio² Leverage ratio¹ New TBTF capital requirements for internationally operating SIBS in Switzerland - phase-in requirements Credit Suisse look-through 7.5% 10.0% 8.5% 7.0% 5.0% 5.5% 2.8% 4.0% 3.0% 4.0% 2.0% 1.2% 1.5% 1.0% 1.3% 1.1% 0.9% 0.7% 3.4% 2.3% 2.6% 2.9% 3.2% 3.5% 3 3Q16 CET1 Additional tier 15 Bail-in debt instruments6 (incl. high-trigger Tier 1 and Tier 2, and low-trigger Tier 1 instruments) 28.6% 26.1% 25.18% 21.76% 14.3% 9.9% 18.2% 11.6% 8.9% 14.25% 6.2% 4.3% 3.5% 3.4% 3.9% 4.3% 3.0% 2.625% 11.9% 8.125% 9.0% 9.46% 9.68% 10.0% TBTF = "Too Big to Fail". = 3Q164 20167 2017 AT1 Additional Tier 1. 2018 2019 2020 SIBS Systemically important banks. CET1 = Common Equity Tier 1. Note: Rounding differences may occur. 1 In percentage of leverage exposure. 2 In percentage of risk-weighted assets (RWA). 3 Based on end 3Q16 look-through leverage exposure of CHF 949 bn. 4 Based on end 3Q16 look-through Swiss RWA of CHF 271 bn. 5 Includes CHF 5.8 bn of additional Tier 1 high-trigger capital instruments, CHF 5.1 bn of additional Tier 1 low-trigger capital instruments and CHF 0.7 bn of Tier 2 high-trigger capital instruments. 6 Includes CHF 22.7 bn of bail-in debt instruments and CHF 4.2 bn of Tier 2 low-trigger capital instruments. 7 Effective July 1, 2016. 8 Effective as of January 1 for the applicable year. Note: In May 2016 the Swiss Federal Council amended the Capital Adequacy Ordinance (CAO) which recalibrates and expands the existing "Too Big to Fail" regime in Switzerland. The amended CAO came into effect on July 1, 2016, subject to phase-in and grandfathering provisions for certain outstanding instruments, and has to be fully applied by January 1, 2020. Figures do not include the effects of the countercyclical buffers and any rebates for resolvability and for certain Tier 2 low-trigger instruments recognized in gone concern capital. After January 1, 2020, the low-trigger Tier 2 (LT T2) instruments receive gone concern treatment and the Group's gone concern requirement is reduced by a factor of 0.5 for the outstanding amount of these instruments in relation to RWA and Leverage Exposure. In effect, the LT T2 instruments receive 1.5x value in the gone concern ratio. CREDIT SUISSE November 2016 6 Going concern Gone concern Capital ratio requirementsⓇ Going Gone concern concern Leverage ratio requirements8 Credit Suisse in a nutshell#7Credit Suisse in a nutshell New TBTF capital requirements for internationally operating SIBS in Switzerland - Credit Suisse shortfall/issuance requirement Capital adequacy amounts, Swiss look-through in CHF bn 94.9 Shortfall 70.7 (20.5)4 47.4 Bail-in debt instruments1 26.9 Gone concern Through 2019 we expect to replace existing callable capital instruments with fully compliant going concern high-trigger AT1 capital instruments ■■We expect to replace a portion of maturing Bank (OpCo) instruments through 2019 with ~CHF 21 bn of TLAC instruments to reach our estimated gone concern requirement 14.2 (2.6) Additional tier 12 11.6 (incl. high-trigger Tier 1 and Tier 2, and low-trigger Tier 1 Going instruments) concern CET1 32.2 33.2 (1.0) TBTF = "Too Big to Fail". capital instruments. Credit Suisse end 3Q16 Requirements³ by 1.1.2020 SIBS Systemically important banks. CET1 = Common Equity Tier 1. AT1 Additional Tier 1. 1 Includes CHF 22.7 bn bail-in debt instruments and CHF 4.2 bn of Tier 2 low-trigger 2 Includes CHF 5.8 bn of additional Tier 1 high-trigger capital instruments, CHF 5.1 bn of additional Tier 1 low-trigger capital instruments and CHF 0.7 bn of Tier 2 high-trigger capital instruments. 3 Based on end 3Q16 look-through leverage exposure of CHF 949 bn. 4 Does not reflect maturities of outstanding bail-in debt instruments that could impact gone concern eligibility. Note: In May 2016 the Swiss Federal Council amended the Capital Adequacy Ordinance (CAO) which recalibrates and expands the existing "Too Big to Fail" regime in Switzerland. The amended CAO came into effect on July 1, 2016, subject to phase-in and grandfathering provisions for certain outstanding instruments, and has to be fully applied by January 1, 2020. CREDIT SUISSE November 2016 7#8Private Banking Businesses Net New Asset generation with good margins NNA in CHF bn Total Private Banking 11.3 SUB PB 8.5 9.2 IWM PB APAC PB Credit Suisse in a nutshell 5.4 4.4 5.0 4.6 3.1 1.7 3.7 0.9 0.2 3Q15 2016 3Q16 3Q15 2Q16 3Q16 3Q15 2Q16 3Q16 3Q15 2016 3Q16 Regularization outflows included in NNA in CHF bn (0.7) (1.4) NNA growth (annualized) 5% 8% (2.8) (0.3) (0.3) (0.4) (0.3) (1.0) (1.5) (0.1) (0.1) (0.9) 6% 5% 2% 0% 2% 8% 6% 9% 13% 12% Adjusted Gross margin in bps 114 115 Adjusted Net margin in bps 109 141 140 134 106 110 104 84 87 84 52 28 31 27 34 42 35 28 27 25 45 19 23 23 17 Average AuM in CHF bn 683 690 712 243 241 243 295 294 304 144 155 165 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix. CREDIT SUISSE November 2016 8#9Swiss Universal Bank - Switzerland core to the strategy - Credit Suisse in a nutshell Key Priorities Main Initiatives Drive efficiency Increase cost efficiency through optimized footprint, automation and operational leverage End-to-end accountability and responsibility over Swiss costs and investments Concentrate on Swiss-domiciled clients 20% to 30% IPO Focus to simplify Relationship managers Invest in brand Further strengthening of brand and reputation in Switzerland Optimize footprint Empower to grow Focus on High-net-worth individuals and capture synergies with mid/large SMEs by becoming the "Bank for Entrepreneurs" Exploit growth opportunities in UHNWI Planning partial IPO of the Legal Entity Credit Suisse (Schweiz) AG by the end of 20172 Expected positive group capital impact of roughly CHF 2 to 4 bn including other management actions Hire approx. 80 HNWI relationship managers +30% UHNWI relationship managers Converting approx. 45 branches into advisory branches without teller UHNWI lending book Double lending book and deal related revenues Steadily increase mandates penetration³; increased 14ppt to 29% as of end 3Q16 compared to 15% as of end 2014 primarily driven by Credit Suisse Invest Mandates penetration Adjusted pre-tax income development1 in CHF bn 2.3 1.6 1.6 1.4 2014 2015 9M16 Ambition 2018 Cost/income ratio improvement from 68% to approx. 56% from 2014 base 2018 target (U)HNWI (Ultra)-high-net-worth individuals. 1 Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix. 2 Market conditions permitting, any IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG. 3 Advisory and discretionary mandates as percentage of total AuM, excluding AuM from the external asset manager (EAM) business. CREDIT SUISSE November 2016 9#10International Wealth Management - replicate our success Credit Suisse in a nutshell Key Priorities Deliver client value Integrate coverage of private banking, investment banking and asset management Leverage investment and research capabilities Invest in additional resources and broaden lending activities to address clients' sophisticated financing needs Enhance client Grow sales force Expand "hub and spokes" model proximity Increase Simplify and de-layer organization to bring decision- making closer to point of advice client time Invest in technology and automation to increase client face time Adjusted pre-tax income development¹ in CHF bn 1.2 2014 1.0 0.8 2015 9M16 2.1 Main Initiatives Top Clients Lending Strengthen footprint Grow HNWI offshore clients Asset Management Launch dedicated team to secure landmark deals Strategic Client Partners to generate CHF 300 mn incremental revenues Strategically expand lending capabilities covering corporate and private angle Enhance client proximity by aligning footprint across regions and leveraging "hubs and spokes" model Focus coverage on international HNWI offshore clients Develop a multi-channel service model with a strong RM offering capability and required digital capabilities Grow fee-based revenues, extend product suite and distribution Ambition 2018 2018 target Lending penetration2 to 15% from 12% end 2014 Increase relationship manager headcount by 300 to 1,500 (from 1,180 end 2015). Majority of hires planned in emerging markets Premium HNWI = CHF > 5mn AuM. Entry HNWI CHF >1m AuM. 1. Adjusted results are non-GAAP financial = UHNWI CHF >50mn AuM or total wealth >250mn. (U)HNWI (Ultra)-high-net-worth individuals measures. A reconciliation to reported results is included in the Appendix. 2 Credit volume / Assets under Management. CREDIT SUISSE November 2016 10#11Asia Pacific - The Trusted Entrepreneurs' Bank Key Priorities Main Initiatives Credit Suisse in a nutshell Replicate success of integrated bank approach in South East Asia Expand footprint Expand footprint in Greater China Deliver client critical equities & financing capabilities Grow broad base of business profitability Focus on UHNWI Continue to deliver new investment products and services from our investment banking platform Prudently build out quality credit and equity strategic financing, while remaining mindful of market volatility Continue to grow existing business franchises where we have deep client relationships and strong, profitable market positions Grow recurring fee-income base by leveraging integrated, advisory-led model Adjust business model for new market entry or business acquisition to drive incremental growth Leverage investment banking connectivity to offer unique proposition for UHNWI NNA Development In CHF bn (China onshore, scaling up China offshore, Taiwan) Address Japan savings opportunity with integrated solutions 17.5 17.8 13.9 11.8 10.3 2012 460 2013 460 2014 510 2015 580 9M16 650 Adjusted pre-tax income development1 in CHF bn 2.1 Number of relationship managers 1.1 0.9 0.7 Ambition 2018 ■ U/HNWI NNA of approx. CHF 25 bn in year 2018 Reach approx. 800 relationship managers 2015 9M16 2018 target = UHNWI Ultra-high-net-worth individuals. NNA Net new assets. RMS Relationship Managers. 1 Adjusted results are non-GAAP financial measures. A reconciliation to 2014 HNWI High-net-worth individuals. reported results is included in the Appendix. CREDIT SUISSE November 2016 11#12Global Markets - increased connectivity with the Group Credit Suisse in a nutshell Key Priorities Investing in Core Businesses Reduced risk profile and resized capital footprint Reconfigured product portfolio focused on core Institutional clients and enhancing connectivity across IBCM, IWM, APAC and SUB Investing to defend core Equities franchise; reinvesting leverage exposure with key clients in Prime Services Extending low-cost, multi-asset class electronic offering Focus resources in Credit to defend profitability and drive IBCM strategic objectives Capitalizing on opportunities to provide Emerging Markets access to the key GM and IWM clients Substantially reduced risk exposure through portfolio sales, strategic hedges and inventory reductions; achieved target of reducing expected quarterly pre-tax loss by 50% in adverse stressed scenario Operating within 2016-2018 RWA and leverage exposure ceilings Improving the risk-adjusted performance of the portfolio to generate more stable structural returns and higher quality of earnings Target average1. 1,2 15.0% 10.0% Rescaled footprint Downside Normalized Markets Key Metrics 2015 year-end vs. target cost reductions in USD bn Risk-weighted assets as reported in USD bn Leverage exposure as reported in USD bn (20)% (21)% (21)% 6.6 67 6.0 5.4 61 64 53 not available 377 280 296 2015 2016 2018 2013 2014 2015 3Q16 2013 2014 2015 3Q16 Pre-Q2 restatements Post-Q2 restatements 1 Return on regulatory capital is calculated using income after tax, reflects 'worst of' return on RWA or leverage exposure 2 Scenarios based on varying macro-economic assumptions CREDIT SUISSE November 2016 12#13· Credit Suisse in a nutshell IBCM - goal to drive incremental revenues in the Americas and EMEA while maintaining returns in excess of cost of capital Investing in Key Priorities IBCM: rationale Targeted plans for investment grade UHNWI Optimize client coverage footprint corporates, non-investment grade corporates and financial sponsors Develop our emerging markets team that will integrate geographical coverage Capital High connectivity in the Americas and EMEA Ability to deliver banking products and investment opportunities Selectively use capital where Credit Suisse is well positioned to benefit from the largest growth opportunities across all industries and products Usage Continue to focus on capital efficiency and returns Limited regulatory headwinds expected to continue Rebalance product mix towards M&A advisory and equity underwriting Rebalance the product mix to better support clients' strategic goals, and transition to a more diversified and less volatile revenue mix Aim to deliver sustainable, profitable growth through a rebalanced product mix Profitability Seek to grow IG and Non-IG corporate coverage while building on strong track record in leveraged finance and sponsors Goal: continue to deliver returns in excess of cost of capital Launch new initiative for UHNWI in the US Develop capabilities for coverage and servicing of UHNWI in the US EMEA Europe, Middle East and Africa. (U)HNWI (Ultra)-high-net-worth individuals. IBCM Investment Banking & Capital Markets. (Non)-IG (Non)-Investment Grade. M&A Mergers & Acquisitions = 1 Includes Americas and Europe, Middle East and Africa; excludes Switzerland. Return on Capital (return on regulatory capital) calculated using income after tax, assuming tax rate of 30%, and capital allocated using worst of 10% of year-end Basel 3 risk-weighted assets or 3.5% of year- end leverage exposure, respectively. 2014 calculated based on Swiss Leverage. CREDIT SUISSE Return ambition1 Return on Capital (based on risk-weighted assets) 27% 27% Return on Capital (based on leverage exposure) 48% 30% 10% cost of capital 2014 2018 2014 2018 November 2016 13#14Content 1 Credit Suisse in a nutshell 2 Strategic actions A Strengthen capital base B Reduce fixed costs Page 4 15 16 17 C Rebalance our business mix 21 3 3Q16 results ༠ ད 4 Appendix CREDIT SUISSE 23 34 November 2016 14#15Strategic actions Summary of strategic actions A B C D Strengthen capital base Strengthen equity capital base with focus on maximizing free capital generation Fixed costs reduction² Cost reduction program primarily related to fixed cost base Rebalancing businesses Optimize resource allocation and focus on high-returning businesses with scale Returning capital to shareholders EM Emerging Markets. RWA Risk-weighted assets. maintain 11-12% 1 CET 1 ratio in 2016 approx. 13% CET 1 ratio end-2018 target approx. 5 to 6% Tier 1 leverage ratio end-2018 target Gross cost reductions: CHF 1.7 bn by end-2016 and CHF 4.3 bn by end-2018 Net cost reductions: CHF 1.4 bn by end-2016 and CHF >3.0 bn by end-2018 Operating cost base: CHF 19.8 bn by end-2016 and CHF <18 bn by end-2018 Switzerland increase profitability of the stable and high return cash flows in home market Recommending CHF 0.70 per share dividend with scrip option³ Asia Pacific and other EM increase resource allocation to Asia Pacific and replicate our success in other Emerging Markets Intend to move to 40% operating FCG payout as capital targets are met Investment Banking businesses Right-sizing with significant reduction where returns do not exceed cost of capital; Global Markets to operate within ceilings of USD 60 bn of RWA and USD 290 bn of leverage exposure 1 Making no provision for significant litigation expenses. 2 "Adjusted operating expenses at constant FX rates" and "adjusted non-compensation operating expenses at constant FX rates" include adjustments as made in all our disclosures for restructuring expenses, major litigation expenses and a goodwill impairment taken in 4Q15 as well as adjustments for FX, applying the following main currency exchange rates for 1Q15: USD/CHF 0.9465, EUR/CHF 1.0482, GBP/CHF 1.4296, 2015: USD/CHF 0.9383, EUR/CHF 1.0418, GBP/CHF 1.4497, 3Q15: USD/CHF 0.9684, EUR/CHF 1.0787, GBP/CHF 1.4891, 1Q16: USD/CHF 0.9928, EUR/CHF 1.0941, GBP/CHF 1.4060, 2016: USD/CHF 0.9756, EUR/CHF 1.0956, GBP/CHF 1.3845, 3Q16: USD/CHF 0.9728, EUR/CHF 1.0882, GBP/CHF 1.2764. These currency exchange rates are unweighted, i.e. a straight line average of monthly rates. We apply this calculation consistently for the periods under review. Adjusted non-compensation expenses are adjusted operating expenses excluding compensation and benefits. To calculate adjusted non-compensation expenses at constant FX rates, we subtract compensation and benefits (adjusted at constant FX rates in the manner described above) from adjusted operating expenses at constant FX rates. 3 Until we reach our capital target, we will recommend CHF 0.70 per share with a scrip alternative; we will discontinue the scrip once we have clarity on regulatory requirements and litigation risks. In any event, we will not continue with the scrip beyond 2017. CREDIT SUISSE November 2016 15#16Measures to ensure delivery of our capital goals Strategic actions: Strengthen capital base A Measures in place to strengthen our capital base Net cost savings Global Markets wind-down Business, real estate and other disposals/actions CS Legal Entity Switzerland minority IPO1 Increased from CHF 2.0 bn to > CHF 3.0 Free up CHF 0.4 bn of capital by end 2017 Potential scope to raise at least CHF 1 bn by end 2016 On track for 2H17; expected capital impact of CHF 2-4 bn 1 Market conditions permitting, any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG. CREDIT SUISSE November 2016 16#17Strategic actions: Reduce fixed costs Cost savings target will support a more resilient operating model Target gross cost savings in CHF bn 4.3 Target net cost savings in CHF bn Guidance on restructuring costs in CHF bn 1.0 B 1.7 End 2016 End 2018 Adjusted Operating Expenses¹ in CHF bn 21.2 19.8 < 18.0 14.5 4.8 3Q16 4.9 2016 4.8 1Q16 1.4 End 2016 > 3.0 End 2018 Global Markets Adjusted² Operating Expenses in USD bn 4.0 1.2 3016 2016 6.0 5.4 4Q16e 0.4 0.6 0.1 3Q16 0.1 2016 0.3 1Q16 4Q15 2016E 2017E 2015 9M16 Target Target end 2016 end 2018 1.3 1016 9M16 Target end 2016 Target end 2018 1 "Adjusted operating expenses at constant FX rates" and "adjusted non-compensation operating expenses at constant FX rates" include adjustments as made in all our disclosures for restructuring expenses, major litigation expenses and a goodwill impairment taken in 4Q15 as well as adjustments for FX, applying the following main currency exchange rates for 1Q15: USD/CHF 0.9465, EUR/CHF 1.0482, GBP/CHF 1.4296, 2015: USD/CHF 0.9383, EUR/CHF 1.0418, GBP/CHF 1.4497, 3Q15: USD/CHF 0.9684, EUR/CHF 1.0787, GBP/CHF 1.4891, 1Q16: USD/CHF 0.9928, EUR/CHF 1.0941, GBP/CHF 1.4060, 2016: USD/CHF 0.9756, EUR/CHF 1.0956, GBP/CHF 1.3845, 3Q16: USD/CHF 0.9728, EUR/CHF 1.0882, GBP/CHF 1.2764. These currency exchange rates are unweighted, i.e. a straight line average of monthly rates. We apply this calculation consistently for the periods under review. Adjusted non-compensation expenses are adjusted operating expenses excluding compensation and benefits. To calculate adjusted non-compensation expenses at constant FX rates, we subtract compensation and benefits (adjusted at constant FX rates in the manner described above) from adjusted operating expenses at constant FX rates. 2 Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix. CREDIT SUISSE November 2016 17#18Strategic actions: Reduce fixed costs Further restructuring expected to result in increased cost savings Overview of key savings initiatives in CHF bn Sources of cost savings 3 SRU & Exits Wind-down of SRU 4.3 2 Services Efficiencies from workforce strategy and 1 Corp. Center Substantial completion of major programs including regulatory projects 1.0 London right- sizing, etc. 0.9 portfolio, business exits, and associated costs 1.6 GM & IBCM: 1.2 Investments to facilitate growth SRU: 1.5 ~0.5-1.0 Reinvestment plan I prioritized for relationship manager recruitment and growth priorities in APAC and IWM SUB: 0.4 IWM: 0.2 CC: 1.0 Corporate Center1 Shared Services Other Front Office and SRU Expenses 2018 gross cost savings target Reinvestment Gross cost savings SUB Swiss Universal Bank IWM International Wealth Management APAC Asia Pacific Resolution Unit 1 Includes rundown of realignment costs. CREDIT SUISSE > 3.0 2018 net cost savings target GM Global Markets IBCM = Investment Banking & Capital Markets CC=Corporate Center SRU = Strategic B November 2016 18#19Empty#20Strategic actions: Reduce fixed costs Variable compensation reduced in line with lower performance; decreased deferrals in upcoming periods Variable compensation in CHF bn Unrecognized variable compensation in CHF bn Variable incentive compensation awarded (in respective years) Estimated unrecognized compensation expenses to be amortized in future 26% reduction 3.6 2.3 3.3 2.9 Deferred into 2.0 1.6 1.2 future periods Unrestricted 1.6 1.7 1.7 1.9 2013 2014 2015 1.2 1.5 Deferral rates 3.1 (0.1) 56% 48% 41% 2.3 0.41 Variable incentive compensation expensed (in respective years) periods¹ 0.6 0.2 3.8 4.1 4.0 Unrecognized Amortized in Forfeitures end 2014 2015 Awarded in Unrecognized 2015 2016 2017 2018 end 2015 Deferred from 2.2 $2.4 2.3 prior periods Unrestricted 1.6 1.7 1.7 2013 2014 2015 While we have reduced the awarded variable incentive compensation over the past years, this has not yet been visible in the income statement, but reduced deferrals will... Note: rounding differences may occur. 1 Represent mark-to-market adjustments in 2015 not included as unrecognized expense at the end of 2014. CREDIT SUISSE ...lead to a smaller portion being recognized in the income statements of upcoming periods. B November 2016 20#21Strategic actions: Rebalance our business mix Strategic Resolution Unit established to facilitate rapid wind-down and reduce drag on overall Group performance Pre-tax losses in CHF bn 2014 2015 1Q16 2016 3Q16 Litigation expenses in CHF mn 2014 2015 1Q16 2016 3Q16 (23) (47) (417) (334) (0.8) (0.9) (1.3) (2.7) (3.1) (2,536) RWA in USD bn 79 73 (30)% 52 67 58 55 Leverage exposure in USD bn 254 (53)% 170 167 148 119 2014 2015 1Q16 2Q16 3Q16 2014 2015 1Q16 2Q16 3Q16 CREDIT SUISSE C November 2016 21#22Content ་ ས Credit Suisse in a nutshell Strategic actions A Strengthen capital base B Reduce fixed costs Page 4 15 16 17 C Rebalance our business mix 21 3 3Q16 results 4 Appendix CREDIT SUISSE 23 34 November 2016 22 42#23Results overview 3Q16 results Credit Suisse Group results 3Q16 2016 3Q15 9M16 9M15 Net revenues 5,396 5,108 5,985 15,142 19,587 Provision for credit losses 55 (28) 110 177 191 Total operating expenses 5,119 4,937 5,023 15,028 15,377 Pre-tax income/(loss) 222 199 852 (63) 4,019 Fair value on own debt (623) (995) Real estate gains (346) (346) (23) (Gains)/losses on business sales 56 Restructuring expenses 145 91 491 Major litigation expenses 306 203 306 257 Net revenues 5,050 5,108 5,362 14,852 18,569 Adjusted Provision for credit losses Total operating expenses Pre-tax income 55 (28) 110 177 191 4,668 4,846 4,820 14,231 15,120 327 290 432 444 3,258 Net income/(loss) attributable to shareholders 41 170 779 (91) 2,884 Diluted Earnings/(loss) per share in CHF Return on Tangible Equity¹ 0.02 0.08 0.44 (0.05) 1.64 0.4% 1.7% 8.9% (0.3)% 11.2% Note: All values shown are in CHF mn unless otherwise specified. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Based on tangible shareholders' equity attributable to shareholders, a non-GAAP financial measure, which is calculated by deducting goodwill and other intangible assets from total shareholders' equity attributable to shareholders as presented in our balance sheet. Management believes that the return on tangible shareholders' equity attributable to shareholders is meaningful as it allows consistent measurement of the performance of businesses without regard to whether the businesses were acquired. CREDIT SUISSE November 2016 23#24Swiss Universal Bank Pre-tax income up YoY despite reduced client activity Adjusted key financials in CHF mn Key messages 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 Private Banking 814 840 857 (3)% (5)% Corp. & Inst. Banking 507 497 507 +2% Net revenues 1,321 1,337 1,364 (1)% (3)% Provision for credit losses 30 9 39 Total operating expenses 860 871 925 (1)% (7)% Pre-tax income 431 457 400 (6)% +8% Cost/income ratio 65% 65% 68% Return on regulatory capital 14% 15% 13% Key metrics in CHF bn 3Q16 2Q16 3Q15 A 2016 A 3Q15 Adj. net margin in bps 35 42 34 1 PB Net new assets 0.2 0.9 3.1 Mandates penetration 29% 28% 24% Net loans 167 165 163 +1% +3% Net new assets C&IB (1.2) 0.7 1.9 Risk-weighted assets 66 65 59 +1% +10% Leverage exposure 246 245 234 +5% Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix CREDIT SUISSE 3Q16 results Adjusted pre-tax income up 8% compared to 3Q15: Continued YoY profit growth Revenues down 3% driven by low client activity partly offset by rebound in net interest income Operating expenses down 7% despite continuous investment in regulatory, compliance and digitalization in Wealth Management Focus on growing 'Bank for Entrepreneurs'; targeting HNWI/UHNWI in Wealth Management and SME in C&IB, in addition to our leading Swiss corporates franchise Wealth Management Credit Suisse Invest driving mandates penetration of 29%, up 5 percentage points vs. 3Q15 Selected exits in the External Asset Manager (EAM) business and regularization outflows impacting NNA by CHF (0.5) bn and CHF (0.4) bn, respectively Corporate & Institutional Banking Continued strong results including benefits from reduced operating expenses, supported by lower corporate functions cost, and lower provisions for credit losses NNA impacted by outflows from a small number of individual cases November 2016 24#25Swiss Universal Bank Private Banking and Corporate & Institutional Banking 3Q16 results Private Banking Adjusted key financials in CHF mn C&IB Adjusted key financials in CHF mn 3Q16 2016 3Q15 A 2Q16 A 3Q15 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 Net interest income 446 441 452 +1% (1)% Net interest income 278 242 256 +15% +9% Recurring commissions & fees 243 240 255 +1% (5)% Recurring commissions & fees 118 123 117 (4)% +1% Transaction-based 125 159 151 (21)% (17)% Transaction-based 124 146 144 (15)% (14)% Other revenues (1) Other revenues (13) (14) (10) Net revenues 814 840 857 (3)% (5)% Net revenues 507 497 507 +2% Provision for credit losses 17 2 25 Provision for credit losses 13 7 14 Total operating expenses 587 579 639 +1% (8)% Total operating expenses 273 292 286 (6)% (5)% Pre-tax income 217 203 196 +7% +11% Pre-tax income 214 254 204 (16)% +5% Cost/income ratio 54% 59% 56% Cost/income ratio 72% 69% 75% Key metrics in CHF bn Key metrics in CHF bn 3Q16 2016 3Q15 A 2016 A 3Q15 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 Adj. net margin in bps 35 42 34 Net new assets (1.2) 0.7 1.9 Net new assets 0.2 0.9 3.1 Assets under management 285 281 263 +1% +8% Assets under management 245 241 237 +1% +3% Number of RM 480 470 470 +10 +10 Mandates penetration 29% 28% 24% Number of RM 1,500 1,530 1,570 (30) (70) Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix CREDIT SUISSE November 2016 25 25#26International Wealth Management Robust performance in challenging markets and continued NNA momentum Adjusted key financials in CHF mn 3Q16 results Higher Wealth Management revenues vs. 3Q15 offset by growth investments and higher risk and compliance costs Asset Management with higher pre-tax income vs. 3Q15 reflecting effective cost control Key messages 3Q16 2016 3Q15 A 2Q16 A 3Q15 Private Banking 789 811 785 (3)% +1% Asset Management 292 334 308 (13)% (5)% Net revenues 1,081 1,145 1,093 (6)% (1)% Provision for credit losses 16 11 Total operating expenses 840 869 835 (3)% +1% Pre-tax income 241 260 247 (7)% (2)% Cost/income ratio 78% 76% 76% Return on regulatory capital 20% 22% 21% PB Key metrics in CHF bn 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 Adj. net margin in bps 25 27 28 Net new assets 4.4 5.4 1.7 Mandates penetration 29% 29% 29% Number of RM 1,160 1,170 1,190 (10) (30) Net loans 43 43 41 +5% Net new assets AM 5.0 3.5 5.6 Risk-weighted assets 33 34 32 +4% Leverage exposure 89 95 94 (7)% (5)% Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix Continued NNA momentum across businesses and regions Wealth Management Strong net interest income reflecting cumulative benefit of loan growth and higher margins Recurring revenues down vs. 3Q15 but broadly stabilized for last three quarters, while transaction revenues remained adversely affected in a challenging market environment NNA of CHF 4.4 bn (net of regularization outflows of CHF 1.5 bn) with inflows from emerging markets and Europe; AuM up 9% YoY Significant upgrade of RMS with senior and experienced hires offset by managed reductions and attrition Asset Management 24% higher pre-tax income vs. 3Q15 driven by 10% lower expenses, resulting in a 4 pp. improvement in cost/income ratio Higher investment-related gains and broadly stable management fees were offset by lower investment and partnership income vs. 3Q15 NNA of CHF 5.0 bn with strong contribution from emerging markets and fixed income products CREDIT SUISSE November 2016 26#27International Wealth Management Private Banking and Asset Management 3Q16 results Private Banking Adjusted key financials in CHF mn Asset Management Adjusted key financials in CHF mn 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 Net interest income 326 304 259 +7% +26% Management fees 218 220 224 (1)% (3)% Recurring commissions & fees 267 273 292 (2)% (9)% Performance & placement rev. 41 42 35 (2)% +17% Transaction- and perf.-based 197 236 235 (17)% (16)% Investment & partnership inc. 33 72 49 (54)% (33)% Other revenues (1) (2) (1) Net revenues 292 334 308 (13)% (5)% Net revenues 789 811 785 (3)% +1% Total operating expenses 241 271 267 (11)% (10)% Provision for credit losses 16 11 Pre-tax income 51 63 41 (19)% +24% Total operating expenses 599 598 568 Pre-tax income 190 197 206 (4)% +5% (8)% Cost/income ratio 83% 81% 87% Cost/income ratio 76% 74% 72% Key metrics in CHF bn Key metrics in CHF bn 3Q16 2Q16 3Q15 A 2016 A 3Q15 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 Adj. net margin in bps 25 27 28 Net new assets 5.0 3.5 5.6 Net new assets 4.4 5.4 1.7 Assets under management 324 315 315 +3% +3% Assets under management 311 299 287 +4% +9% Net loans 43 43 41 +5% Number of RM 1,160 1,170 1,190 (10) (30) Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix CREDIT SUISSE November 2016 27 27#283Q16 results Asia Pacific Pre-tax income up YoY with continued investment in Wealth Management growth Adjusted key financials in CHF mn 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 Private Banking 346 337 303 +3% +14% Investment Banking 571 574 582 (1)% (2)% Net revenues 917 911 885 +1% +4% Provision for credit losses 34 3 24 Total operating expenses 708 692 699 +2% +1% Pre-tax income 175 216 162 (19)% +8% Cost/income ratio 77% 76% 79% Return on regulatory capital 13% 16% 13% PB Key metrics in CHF bn 3Q16 2016 3Q15 A 2Q16 A 3Q15 Adj. net margin in bps 17 23 19 Net new assets 4.6 5.0 3.7 Number of RM 650 650 550 +100 Net loans 39 38 34 +2% +12% Risk-weighted assets 32 32 27 +2% +21% Leverage exposure 108 108 100 +1% +8% Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix Key messages Strong client activity levels with UHNWIs and Entrepreneurs across Wealth Management and Underwriting & Advisory Growth in WM with NNA of CHF 4.6 bn in 3Q16 and record level AuM; high level of collaboration between WM and IB Increase in operating expenses from investment in RMs and risk and compliance functions, partially offset by YoY cost reductions in IB YoY capital usage reflects growth in lending activities to UHNW/Entrepreneur clients Wealth Management Revenue increase supported by higher loan volumes and AuM of CHF 169 bn Net margin down 2 bps vs. 3Q15 with growth in net interest income and transactional revenues offset by higher operating expenses and credit provisions Increase in provision for credit losses relates to a small number of share-based loans in Hong Kong Investment Banking Stronger revenues in Underwriting & Advisory driven by Entrepreneur clients and improving markets Equities sales and trading weaker YoY, albeit stable QoQ Solid fixed income revenues reflecting strength in financing activities and gains on structured deposits CREDIT SUISSE November 2016 28.#29Asia Pacific Private Banking and Investment Banking 3Q16 results Private Banking Adjusted key financials in CHF mn Investment Banking Adjusted key financials in USD mn 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 Net interest income 159 143 114 +11% +39% Fixed income sales & trading 152 172 101 (12)% +50% Recurring commissions & fees 67 70 65 (4)% +3% Equity sales & trading 349 350 468 (25)% Transaction- and perf.-based 120 124 103 (3)% +17% Underwriting & advisory 118 102 60 +16% +97% Other revenues 21 Other revenues (32) (34) (26) Net revenues 346 337 303 +3% +14% Net revenues 587 590 603 (1)% (3)% Provision for credit losses 38 2 24 Provision for credit losses (4) 1 Total operating expenses 239 245 210 (2)% +14% Total operating expenses 482 458 505 +5% (5)% Pre-tax income 69 90 69 (23)% Pre-tax income 109 131 98 (17)% +11% Cost/income ratio 69% 73% 69% Cost/income ratio 82% 78% 84% Key metrics in CHF bn 3Q16 2016 3Q15 A 2016 A 3Q15 Adj. net margin in bps 17 23 19 Net new assets 4.6 5.0 3.7 Assets under management Number of RM 169 158 139 +7% 650 650 550 +22% +100 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix CREDIT SUISSE November 2016 29#303Q16 results Investment Banking & Capital Markets Results driven by increased underwriting activity; Top 5 ranks in all key products Adjusted key financials in USD mn 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 Net revenues 479 558 414 (14)% +16% Provision for credit losses (9) Total operating expenses 434 426 346 +2% Pre-tax income 55 132 68 (59)% +25% (19)% Cost/income ratio 91% 76% 84% Return on regulatory capital 9% 21% 13% Key metrics in USD bn 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 Risk-weighted assets 19 17 15 Leverage exposure 46 45 37 +10% +2% +21% +25% Key messages Results reflect continued execution of our strategy, evidenced by strong share of wallet gains: 9M16 share of wallet2 up versus 2015 in all key products Top 5 rank³ in each of announced M&A, ECM and Leveraged Finance for 9M16 Continued momentum with investment grade corporates Net revenues of USD 479 mn up 16% YoY driven by higher revenues in debt and equity underwriting, partially offset by lower advisory revenues Adjusted operating expenses up 25% YoY due to higher variable compensation; 9M16 adjusted expenses of USD 1.3 bn broadly stable vs. prior year period Risk-weighted assets of USD 19 bn, up 21% YoY, driven primarily by an increase in IBCM's share of the Corporate Bank Total Advisory and Underwriting revenues¹ in USD mn 3016 2016 3Q15 A2016 A 3Q15 Global advisory and underwriting revenues1 945 1,075 777 (12)% +22% In 3Q16, global advisory and underwriting revenues of USD 945 mn, up 22% YoY, outperforming the industry-wide fee pool (up 4%)³ Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Gross global revenues from advisory, debt and equity underwriting generated across all divisions before cross-divisional revenue sharing agreements 2 Source: Dealogic for the period ending September 30, 2016; includes Americas and EMEA only 3 Source: Dealogic for the period ending September 30, 2016 CREDIT SUISSE November 2016 30 30#313Q16 results Global Markets Positive momentum in credit products offset by challenging equity market conditions Adjusted key financials in USD mn 3Q16 2Q16 3Q15 A 2Q16 A 3Q15 Equities 330 550 536 (40)% (38)% Credit 740 758 723 (2)% +2% Solutions 359 423 414 (15)% (13)% Other (33) (60) (40) Net revenues 1,396 1,671 1,632 (16)% (14)% Provision for credit losses (6) (17) 15 Total operating expenses¹ 1,251 Pre-tax income 150 208 403 1,480 1,214 (15)% +3% (28)% (63)% Cost/income ratio 90% 89% 74% Return on regulatory capital 4% 6% 10% Key messages Higher YoY credit products results, improved emerging markets revenues, notably in Latin America, and sustained market share through restructuring Maintained #1 asset finance² rank vs. 3Q15 despite significant rescaling of franchise Awarded Most Innovative Bank for Leveraged Finance and securitized products³ and Structured Product Bank of the Year Weakness in equity derivatives reflecting low volatility and muted client activity; cash and prime services revenues resilient in the Americas offset by weak trading results, particularly in EMEA Adjusted operating expenses up 3% YoY due to higher variable compensation 9M16 adjusted expenses of USD 4.1 bn, down 6% YoY Expected to approach end-2018 target of USD 5.4 bn by end-2016, reflecting substantial progress on accelerated cost reductions and lower costs in the UK Key metrics in USD bn 3Q16 2016 3Q15 A 2Q16 A 3Q15 Risk-weighted assets 53 52 63 +1% Leverage exposure 296 286 313 +3% (16)% (6)% RWA broadly stable compared to 2016, operating below end- 2016 ceiling of USD 60 bn Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Does not include restructuring expenses of USD 52 mn in 2016 and USD 53 mn in 3Q16 and major litigation of USD 7 mn and USD 132 mn in 3Q15 2 Thomson Reuters 3 The Banker, Investment Banking Awards 2016 4 GlobalCapital CREDIT SUISSE November 2016 31#323Q16 results Strategic Resolution Unit Substantial reduction in RWA and leverage exposure; adjusted expenses down 47% YoY Key financials in USD mn 3Q16 2Q16 3Q15 A 2016 A 3Q15 Net revenues (170) (371) (90) +54% (89)% Provision for credit losses 6 (38) 21 Total operating expenses 351 424 661 (17)% (47)% Pre-tax loss (527) (757) (772) Adjusted Restructuring expenses 23 21 Major litigation expenses 324 27 Pre-tax loss reported (874) (778) (799) Key metrics in USD bn 3Q16 2Q16 3Q15 A 2016 A 3Q15 Risk-weighted assets 55 58 75 (5)% (27)% RWA excl. operational risk 35 38 56 (9)% (37)% Leverage exposure 119 148 196 (20)% (40)% Key messages Substantial progress in reducing leverage exposure and RWA in 3Q16 by USD 29 bn and USD 3 bn, respectively: Loan and financing exposure reduced by more than 15% in the quarter through the sale of loans and facilities, in addition to the sale of Credit Suisse Park View BDC, Inc. Bilateral derivatives trade count reduced by ~30% in the quarter through CDS step-outs; compression and unwinds across the macro and emerging market portfolios ■ Adjusted pre-tax income improved by USD 230 mn vs. 2016: Reduced revenue losses compared to 2016, driven by a recovery from 1H16 adverse credit markets, partially offset by losses on life insurance and a credit provision on ship finance portfolios Exit costs at ~1% of RWA due to constructive market conditions Continued progress on expense reductions; 3Q16 expenses down USD 73 mn vs. prior quarter Increase in major litigation provisions of USD 324 mn On a year-on-year basis, leverage exposure and RWA reduced by USD 78 bn and USD 20 bn, respectively; adjusted operating expenses lower by USD 310 mn, mainly driven by the exit from US Private Banking onshore business and reduced footprint in legacy Investment Banking businesses Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix CREDIT SUISSE 32 32#33Content ་ ས Credit Suisse in a nutshell Strategic actions A Strengthen capital base B Reduce fixed costs Page 4 15 16 17 C Rebalance our business mix 21 3 3Q16 results 4 Appendix CREDIT SUISSE 23 34 November 2016 33#34Currency mix & Group capital metrics Appendix -3016 Credit Suisse Core results¹ 9M16 Contribution Core results in CHF mn CHF USD EUR GBP Other Net revenues 16,211 29% 41% 13% 2% 15% Total expenses² 13,410 32% 34% 5% 12% 17% Swiss Universal Bank Net revenues 4,360 79% 12% 7% 1% 1% Total expenses2 2,717 86% 3% 3% 3% 5% Sensitivity analysis on Core results³ Applying a +/- 10% movement on the average FX rates for 9M16, the sensitivities are: USD/CHF impact on 9M16 pre-tax income by CHF 212/(212) mn EUR/CHF impact on 9M16 pre-tax income by CHF149 (149) mn Currency mix capital metric4 International Wealth Management Net revenues 3,399 27% 38% 23% 2% 10% 14% Total expenses² 2,609 42% 23% 13% 10% 12% 7% 6% Asia Pacific 7% 13% 8% Net revenues 2,735 2% 44% 1% 1% 52% 46% 45% 47% - USD Total expenses² 2,113 5% 22% -% 2% 71% 39% CET1 capital 5 Basel 3 Risk-weighted assets Swiss leverage exposure 42% Global Markets 26% Net revenues 4,232 1% 59% 23% 2% 15% CHF Total expenses² 4,189 3% 61% 4% 25% 7% USD CHF EUR Other Investment Bank & Capital Markets Net revenues 1,398 -% 90% 4% 4% 2% Total expenses² 1,286 19% 57% 5% 14% 5% A 10% strengthening of the USD (vs. CHF) would have a (0.3) bps impact on the "look-through" BIS CET1 ratio 1 As reported 2 Total expenses include provisions for credit losses 3 Sensitivity analysis based on weighted average exchange rates of USD/CHF of 0.98 and EUR/CHF of 1.09 for the 9M16 results 4 Data based on September 2016 month-end currency mix and on a look-through basis 5 Reflects actual capital positions in consolidated Group legal entities (net assets) including net asset hedges less applicable Basel 3 regulatory adjustments (e.g. goodwill) CREDIT SUISSE November 2016 34#35Credit Suisse Group - a diversified loan book portfolio Gross loans in CHF bn, 3Q16 Divisional gross loans in CHF bn, 3Q16 Appendix -3016 Consumer2 CHF 146 bn or 53% Corporate & institutional1 CHF 130 bn or 47% 4 or 1% 104 or 38% Mortgages SUB - Mortgages 99 or 59% IWM Governments and public institutions 18 or 7% Financial institutions Loans collateralized by securities CHF 167 bn CHF 43 bn 17or 40% Loans collateralized by securities 42% CHF 276 bn 58% 29 or Consumer finance 17% 24 or 14% 18 or 42% Real Estate Commercial and industrial loans 82 or 30% Real Estate 26 or 9% 4 or 1% 38 or 14% Commercial Commercial and industrial loans Gross loans by location. and industrial loans (inner pie chart) Switzerland Foreign 12 or 32% CHF APAC 39 bn 22 or 57% - Loans collateralized by securities Commercial and industrial loans Loan metrics 3Q16 2016 Development 3Q16 vs. 4Q15 Total non-performing and non-interest- Mortgages +1% GM IBCM earning loans / Gross loans³ 0.7% 0.6% Loans collateralized by securities Consumer finance (1)% 4 or 44% Commercial and industrial loans +4% Gross impaired loans / Gross loans³ 0.9% 0.9% Real Estate (2)% CHF Commercial and industrial loans +5% 9 bn Allowance for loan losses / Gross loans 3,4 0.3% 0.3% CHF 6 bn 5 or 82% Commercial and industrial loans Financial institutions (15)% Specific allowance for loan losses / Gross impaired loans 3,4 Governments and public institutions +13% 4 or 45% Financial institutions. 27% 27% Total 1% SUB Swiss Universal Bank. IWM International Wealth Management. APAC IBCM = Investment Banking & Capital Markets. 1 Classified by counterparty type. Asia Pacific. GM Global Markets. 2 Classified by product type. 3 Excludes loans carried at fair value. 4 Impaired loans and allowance for loan losses are only based on loans that are not carried at fair value. 5 Not shown: Strategic Resolution Unit (SRU) gross loans of CHF 11.2 bn as of end 3Q16. Data points are only shown for major classes. 6 Including SRU. SUB IWM 0% 1% APAC 13% GM 63% IBCM 54% Total6 7% Gross loan book reported at fair value CREDIT SUISSE November 2016 35 35#36Credit Suisse legal entity structure Simplified view1 Credit Suisse Group AG Holding Company Funding Entity 2 1 Credit Suisse AG Operating Bank with branches² 3 Appendix -3016 Evolution of Legal Entity structure Incorporated Credit Suisse (Schweiz) AG, a wholly- owned subsidiary of Credit Suisse AG Received banking license on October 14, 2016 Expect the entity to start its business operations as an independent Swiss bank on November 20, 2016 Planned partial initial public offering (20-30%) by year-end 2017, market conditions permitting” 4 US Holding Co4 UK Subsidiary5 Swiss Legal Entity 2 Started issuance of senior unsecured bail-in instruments by a wholly-owned subsidiary of the Group and guaranteed by the Group in 2015 Legal Entity program goals 3 Designed to meet future requirements for global recovery and resolution planning; less complex and more efficient operating infrastructure for the bank 4 In support of FINMA's "single point of entry" bail-in strategy, debt will be issued from Credit Suisse Group AG³. Better aligns the booking of Investment Banking business on a regional basis, from a client and risk management perspective Newly established branch of Credit Suisse AG in Dublin to become the primary hub for prime services business in Europe Credit Suisse Holdings (USA), Inc. established as Intermediate Holding Company (IHC) in the US on July 1, 2016, with the requisite capital, liquidity, infrastructure and governance, including its newly established board of directors 1 Organizational structure shows main operating entities only. The Credit Suisse legal entity program has been approved by the Board of Directors of Credit Suisse Group AG, but is subject to final regulatory approval. Implementation of the program is well underway, with a number of key components to be implemented through to 2017. 2 Hub for Asia Pacific Investment Banking business in Singapore branch. 3 Funding may be issued either at the holding company level or at the level of an entity that will be substituted by the holding company in a restructuring event. 4 US Service Co activities will be housed here. 5 Credit Suisse is planning that the business of its two principal UK operating subsidiaries (Credit Suisse Securities (Europe) Limited and Credit Suisse International) will be consolidated into one single subsidiary. 6 In Switzerland, Credit Suisse has created a subsidiary for its Swiss-booked business (primarily wealth management, retail and corporate and institutional clients as well as the product and sales hub in Switzerland). Swiss-booked business from International Wealth Management, Asia Pacific and Strategic Resolution Unit will remain in Credit Suisse AG. 7 Any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG. CREDIT SUISSE November 2016 36#37Appendix -3016 The new legal entity Switzerland (LE CH)1 will form the backbone of SUB and the planned IPO in 20172 IPO perimeter (LE CH & subsidiaries in scope for IPO) IPO Perimeter Swiss UB Private & Wealth Management Clients (HNWI / Affluent / Retail clients Switzerland) Corporate & Institutional NAB Functions4 Clients Switzerland Premium Clients (UHNWI Switzerland) IBD Switzerland³ BANK-now Product areas5 External Asset Management Switzerland Business in LE CH Subsidiary of LE CH Partly in LE CH Swisscard6 LE CH received its banking licence as of October 14, 2016, and is expected to commence its business operations as an independent Swiss bank on November 20, 2016 LE CH to cover all Swiss-booked clients of SUB (from today's Credit Suisse AG) as well as SUB product areas and central SUB Functions Swiss-booked business from IWM/APAC/SRU will remain in Credit Suisse AG Swisscard, BANK-now, NAB planned to be subsidiaries to LE CH 1 Credit Suisse (Schweiz) AG. 2 Market conditions permitting, any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG. 3 The underwriting business is not part of the LE CH. 4 Functions: including COO; Finance; Comm./Marketing; Chief of Staff; IT; Operations; GC; CRO; CCO; HR. 5 Product areas: including Products & Inv. Services; Solution Partners; Sales & Trading Services CH; MACS CH. 6 Credit Suisse Group with 50% equity interest in Swisscard AECS AG CREDIT SUISSE November 2016 37#38Credit Suisse Core - results by business divisions Results by business divisions¹ - 9M16 Swiss Universal Bank International Wealth Management Asia Pacific Global Markets Investment Banking & Capital Markets 51% 20% 27% 21% Net 21% Revenues 9% CHF 16.1 bn 10% 17% Total Operating Expenses² CHF 12.9 bn Pre-tax 16% Income 3% CHF 1% 3.2 bn 19% 25% 26% 32% Capital and Assets under Management - 2016 40% 33% 32% 11% 17% RWA CHF 9% 200 bn 6% Leverage Exposure CHF 775 bn 14% Assets under Management CHF 16% 13% 1,334 bn 48% 26% 37% Appendix -3016 Note: Core Results do not include revenues and expenses from our Strategic Resolution Unit. Rounding differences may occur. 1 Excluding Corporate Center net revenues of CHF 87 mn, total operating expenses (including provision for credit losses) of CHF 496 mn, pre-tax income/(loss) of CHF (409) mn, RWA of CHF 17 bn and leverage exposure of CHF 59 bn. 2 Including provision for credit losses CREDIT SUISSE November 2016 38#39Reconciliation of adjustment items (1/2) Appendix - 2015 CS Group in CHF mn SRU in CHF mn Corp. Ctr. in CHF mn SUB PB in CHF mn IWM PB in CHF mn APAC PB in CHF mn 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 Net revenues reported 23,797 26,242 511 1,838 561 680 3,696 3,990 3,224 3,318 1,178 2014 1,037 Fair value on own debt (298) (543) (298) (543) Real estate gains (95) (414) (95) (414) (Gains)/losses on business sales (34) (101) (10) (24) (11) (77) Net revenues adjusted 23,370 25,184 511 1,838 263 137 3,591 3,552 3,213 3,241 1,178 1,037 Provision for credit losses 324 186 137 33 (1) 1 49 60 5 12 18 4 Total operating expenses reported 25,895 22,429 3,026 4,912 862 654 2,772 2,683 2,678 2,463 816 723 Goodwill impairment (3,797) Restructuring expenses (355) (156) (33) (32) (1) Major litigation provisions (820) (2,436) (290) (2,325) (25) (268) (51) (6) Total operating expenses adjusted 20,923 19,993 2,580 2,587 862 654 2,714 2,683 2,378 2,412 809 723 Pre-tax income/(loss) reported (2,422) 3,627 (2,652) (3,107) (300) 25 875 1,247 541 843 344 310 Total adjustments 4,545 1,378 446 2,325 (298) (543) (47) (438) 289 (26) 7 Pre-tax income/(loss) adjusted 2,123 5,005 (2,206) (782) (598) (518) 828 809 830 817 351 310 A full reconciliation of all quarters from 2014 to 3Q16 is available in the time series. CREDIT SUISSE November 2016 39#40Reconciliation of adjustment items (2/2) Net revenues reported SUB C&IB in CHF mn IWM AM in CHF mn APAC IB in CHF mn GM in CHF mn IBCM in CHF mn 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 2,025 1,922 1,328 1,624 2,661 2,298 6,826 7,426 1,787 2,109 Fair value on own debt Real estate gains (Gains)/losses on business sales (13) Net revenues adjusted 2,012 1,922 1,328 1,624 2,661 2,298 6,826 7,426 1,787 2,109 Provision for credit losses 89 34 17 36 10 7 (1) Total operating expenses reported 1,136 1,111 1,146 1,207 2,611 1,672 8,747 5,405 2,101 1,599 Goodwill impairment Restructuring expenses (9) (756) (2) (2,661) (380) (96) (22) Major litigation provisions (4) (231) (60) Total operating expenses adjusted 1,127 Pre-tax income/(loss) reported 800 1,111 777 1,142 1,207 1,853 1,672 5,759 5,345 1,699 1,599 182 417 33 590 (1,931) 2,014 (314) 511 Total adjustments (4) 4 758 2,988 60 402 Pre-tax income/(loss) adjusted 796 777 186 417 791 590 1,057 2,074 88 511 A full reconciliation of all quarters from 2014 to 3Q16 is available in the time series. CREDIT SUISSE Appendix - 2015 November 2016 40 40#41Reconciliation of adjustment items (1/2) Appendix -3016 Net revenues reported Fair value on own debt CS Group in CHF mn 3Q16 2Q16 3Q15 5,396 5,108 5,985 (623) SRU in USD mn 3Q16 2Q16 3Q15 (170) (371) (90) Corp. Ctr. in CHF mn 3Q16 2016 3Q15 72 (95) 752 SUB PB in CHF mn IWM PB in CHF mn APAC PB in CHF mn 3Q16 2016 1,160 840 3Q15 857 3Q16 2016 3Q15 789 811 785 3Q16 2Q16 3Q15 346 337 303 (623) Real estate gains (Gains)/losses on business sales (346) (346) Net revenues adjusted 5,050 Provision for credit losses Total operating expenses reported 5,108 5,362 55 (28) 110 5,119 4,937 5,023 (170) (371) (90) 72 (95) 129 814 840 857 789 811 785 346 337 303 6 (38) 21 (2) 1 13 7 14 16 11 38 2 24 698 445 688 279 142 211 603 582 639 593 611 618 242 245 210 Goodwill impairment Restructuring expenses Major litigation provisions Total operating expenses adjusted Pre-tax income/(loss) reported 145 306 91 23 21 16 13 13 13 3 203 324 27 (19) 50 222 4,668 4,846 4,820 852 199 Total adjustments Pre-tax income/(loss) adjusted 105 91 (420) 327 290 432 351 (874) (778) (799) 347 21 27 (527) (757) (772) 424 661 279 142 211 587 579 639 599 598 568 239 245 210 (207) (235) 540 (623) 544 251 204 196 184 156 66 90 69 (330) 3 (6) 13 50 3 - (207) (235) (83) 214 254 204 190 197 206 69 90 69 A full reconciliation of all quarters from 2014 to 3Q16 is available in the time series CREDIT SUISSE November 2016 41#42Reconciliation of adjustment items (2/2) Net revenues reported Appendix -3016 SUB C&IB in CHF mn IWM AM in CHF mn APAC IB in CHF mn 3Q16 2Q16 3Q15 507 497 507 3Q16 292 2Q16 3Q15 334 308 3Q16 2016 3Q15 571 574 582 587 APAC IB in USD mn 3Q16 2016 3Q15 590 GM in USD mn IBCM in USD mn 603 3Q16 2016 3Q15 1,396 1,671 1,632 3Q16 2016 3Q15 479 558 414 Fair value on own debt Real estate gains (Gains)/losses on business sales Net revenues adjusted 507 497 507 292 334 308 571 574 582 587 590 603 Provision for credit losses 17 2 25 (4) 1 (4) 1 Total operating expenses reported 276 293 286 243 273 267 489 457 489 503 468 505 1,396 1,671 1,632 (6) (17) 1,310 1,532 1,346 479 558 414 15 (9) 450 417 346 Goodwill impairment Restructuring expenses 3 1 2 2 20 10 21 10 10 Major litigation provisions 52 7 52 16 (9) 132 Total operating expenses adjusted 273 292 286 241 271 267 469 447 489 482 458 505 1,251 1,480 1,214 434 426 346 Pre-tax income/(loss) reported 214 202 196 49 61 41 86 116 93 88 121 98 92 156 271 39 141 68 Total adjustments 3 1 2 2 20 10 21 10 - 59 52 132 16 (9) Pre-tax income/(loss) adjusted 217 203 196 51 63 41 106 126 93 109 131 98 88 150 208 403 55 132 68 A full reconciliation of all quarters from 2014 to 3Q16 is available in the time series CREDIT SUISSE November 2016 42#43Swisscard deconsolidation impact Impact of the deconsolidation on the Swiss Universal Bank SUB adjusted Swisscard Impact¹ SUB adj. ex Swisscard in CHF mn 1Q15 2015 1Q15 2Q15 1Q15 2015 Net interest income 611 685 9 9 602 676 Recurring commissions & fees 412 412 56 59 356 353 Transaction-based revenues 382 349 8 7 374 342 Other revenues (5) (7) (5) (7) Net revenues 1,400 1,439 73 75 1,327 1,364 Provision for credit losses 23 33 23 33 Total operating expenses 934 961 61 63 873 898 Pre-tax income 443 445 12 12 12 431 433 Return on regulatory capital+ 14% 14% 14% 14% Appendix -3016 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in this presentation on slides 49/50 This is an illustrative pro-forma presentation of the impact of the deconsolidation of the card issuing business on the historical results of SUB as if it had occurred on December 31, 2014. Given that as of July 1, 2015 the business has been deconsolidated and transferred to the equity method investment, Swisscard AECS GmbH and the transaction does not qualify for discontinued operations, the historical results are not restated in this respect. The reduction in pre-tax income in the Private Banking business of Swiss Universal Bank, is offset by the reduction in minority interest from the deconsolidation at the Group level, therefore there is no material impact on the Group's net income attributable to shareholders. These illustrative figures cannot be seen as being indicative of future trends or results 1 Pro-forma impact of the card issuing business deconsolidation CREDIT SUISSE November 2016 43#44CREDIT SUISSE Credit Suisse - Investor Relations [email protected] +41 44 333 71 49 CREDIT SUBSE Investor Relations Available on the App Store November 2016