#1CREDIT SUISSE Fourth Quarter and Full Year 2016 Results Presentation to Investors and Analysts February 14, 2017#2Disclaimer (1/2) The data presented in this presentation relating to the Swiss Universal Bank refers to the division of Credit Suisse Group as the same is currently managed within Credit Suisse Group. The scope, revenues and expenses of the Swiss Universal Bank vary from the planned scope of Credit Suisse (Schweiz) AG and its subsidiaries, for which a partial initial public offering (IPO) is planned, 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. It is therefore not possible to make a like-for-like comparison of the Swiss Universal Bank as a division of Credit Suisse Group on the one hand and Credit Suisse (Schweiz) AG as a potential IPO vehicle on the other hand. 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 and in "Cautionary statement regarding forward-looking information" in our fourth quarter earnings release 2016 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. In particular, the terms "Illustrative", "Ambition", "Outlook" and "Goal" are not intended to be viewed as targets or projections, nor are they considered to be Key Performance Indicators. All such illustrations, ambitions and goals are subject to a large number of inherent risks, assumptions and uncertainties, many of which are completely outside of our control. Accordingly, this information should not be relied on for any purpose. We do not intend to update these illustrations, ambitions or goals. 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. Estimates and assumptions In preparing this presentation, management has made estimates and assumptions that affect the numbers presented. Actual results may differ. Figures throughout presentation may also be subject to rounding adjustments. In particular, pro forma figures from Wealth Management and connected activities within APAC are based on preliminary estimates. Cautionary Statements Relating to Interim Financial Information This presentation contains certain unaudited interim financial information for the year-to-date 2017, the date of our last published quarterly financial statements. This information has been derived from management accounts, is preliminary in nature, does not reflect the complete results of the first quarter of 2017 and is subject to change, including as a result of any normal quarterly adjustments in relation to the financial statements for the first quarter of 2017. This information has not been subject to any review by our independent registered public accounting firm. There can be no assurance that the final results for these periods will not differ from these preliminary results, and any such differences could be material. Quarterly financial results for the first quarter of 2017 will be included in our 1Q17 Financial Report. These interim results of operations are not necessarily indicative of the results to be achieved for the remainder of 1Q17 or the full first quarter of 2017. CREDIT SUISSE February 14, 2017 2#3Disclaimer (2/2) 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 in the Appendix, which is available on our website at credit-suisse.com. Statement regarding capital, liquidity and leverage As of January 1, 2013, Basel III was implemented in Switzerland along with the Swiss "Too Big to Fail" legislation and regulations thereunder (in each case, subject to certain phase-in periods). 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 III 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. Selling restrictions This document, and the information contained herein, is not an offer to sell or a solicitation of offers to purchase or subscribe for securities of Credit Suisse Group AG or Credit Suisse (Schweiz) AG in Switzerland, the United States or any other jurisdiction. This document is not a prospectus within the meaning of article 652a of the Swiss Code of Obligations, nor is it a listing prospectus as defined in the listing rules of the SIX Swiss Exchange AG or any other exchange or regulated trading facility in Switzerland or a prospectus or offering document under any other applicable laws. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which such documents are barred or prohibited by law. A decision to invest in securities of Credit Suisse Group AG or Credit Suisse (Schweiz) AG should be based exclusively on a written agreement with Credit Suisse Group AG or an offering and listing prospectus to be published by Credit Suisse Group AG or Credit Suisse (Schweiz) AG for such purpose. Any offer and sale of securities of Credit Suisse (Schweiz) AG will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered in the United States of America absent such registration or an exemption from registration. There will be no public offering of such securities in the United States of America. CREDIT SUISSE February 14, 2017 3#4CREDIT SUISSE 4Q16 and Full Year 2016 Earnings Review Tidjane Thiam, Chief Executive Officer David Mathers, Chief Financial Officer#5Overview of Credit Suisse 2016 results Reported Adjusted Pre-tax income (CHF mn unless otherwise specified) 2016 2015 2016 2015 SUB 2,025 1,675 1,738 1,624 IWM 1,121 723 1,109 1,016 APAC 725 377 778 1,142 IBCM in USD mn 268 (313) 297 93 Global Markets in USD mn 57 (1,891) 284 1,136 Total CS Core 3,493 230 3,558 4,329 SRU in USD mn (5,460) (2,711) (2,982) (2,258) CS Group (1,966) (2,422) 615 2,123 2016 pre-DOJ RWA in CHF bn 268 290 RMBS settlement: "Look-through" CET1 ratio 11.6% 11.4% 12.5%¹ Leverage exposure in CHF bn 951 988 "Look-through" CET1 leverage ratio 3.3% 3.3% 3.5%2 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 The look-through CET1 ratio, without taking into account the impact of the final DOJ settlement relating to our legacy RMBS business, excludes a provision in 4Q16 of approximately USD 2 bn and an increase in operational risk RWA of approximately CHF 0.7 bn 2 The look-through CET1 leverage ratio, without taking into account the impact of the final DOJ settlement relating to our legacy RMBS business, excludes a provision in 4Q16 of approximately USD 2 bn CREDIT SUISSE February 14, 2017 5#6We are well positioned to capture growth and benefit from improved market conditions 1 Executing with discipline - Significant increase in operating leverage: adjusted net cost savings of CHF 1.9 bn¹ achieved in 2016, exceeding our target of > CHF 1.4 bn1 2 Growing profitably - - Wealth Management achieved CHF 28.5 bn of NNA in 2016, a 58%² increase year-on-year; Assets under Management increased by 8% to CHF 734 bn² in 2016 at higher gross and net margins Global advisory and underwriting³ delivered increased revenues and outperformance against the market4 Benefits from Global Markets restructuring starting to emerge: 4Q16 annualized 5 adjusted cost base below USD 5.2 bn and increasing momentum across Credit and Equities 3 Resolving key legacy issues - Settlement with DOJ related to RMBS matter Continued progress in reducing legacy portfolio in the SRU 4 Strengthening our capital position "Look-through" CET1 ratio at 11.6% (12.5%7 pre-DOJ RMBS settlement) Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Measured at constant FX rates (see Appendix) 2 Relating to Wealth Management in SUB, IWM and APAC 3 Gross global revenues from advisory, debt and equity underwriting generated across all divisions before cross- divisional revenue sharing agreements 4 Dealogic as of December 31, 2016 5 Annualized numbers do not take account of variations in operating results, seasonality and other factors and may not be indicative of actual, full-year results 6 Estimated 4Q16 annualized exit rate shown at Investor Day 2016 7 The look-through CET1 ratio, without taking into account the impact of the final DOJ settlement relating to our legacy RMBS business, excludes a provision in 4Q16 of approximately USD 2 bn and an increase in operational risk RWA of approximately CHF 0.7 bn CREDIT SUISSE February 14, 2017 6#7Achieved net cost savings of CHF 1.9 bn in 2016, exceeding our 2016 target of > CHF 1.4 bn Execution Profitable growth Legacy Capital Detailed Financials Adjusted total operating expenses at constant FX rates* in CHF bn 1.9 21.2 <19.8 19.4 <17.0 19.1 2015 2016 Target 2016 2018 Target 2016 FX actual Note: Cost reduction program measured in constant FX rates and based on expense run rate excluding major litigation expenses, restructuring costs and a goodwill impairment taken in 4Q15, but including other costs to achieve savings. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix See Appendix CREDIT SUISSE February 14, 2017 7#8Large diversified platform generating strong asset inflows in 2016... Execution Profitable growth Legacy Capital Detailed Financials NNA in Wealth Management¹ in CHF bn 1 Relating to Wealth Management in SUB, IWM and APAC CREDIT SUISSE 18.0 +58% 28.5 2015 2016 February 14, 2017 8#9...with higher gross and net margins Adjusted gross margin 1,2 in bps 112 114 2015 2016 Adjusted net margin 1,2 in bps Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Relating to Wealth Management in SUB, IWM and APAC 2 Adjusted to exclude Swisscard net revenues of CHF 148 mn and operating expenses of CHF 123 mn for 2015 in SUB Wealth Management CREDIT SUISSE 28 30 2015 2016 Execution Profitable growth Legacy Capital Detailed Financials February 14, 2017 6#104Q16 NNA affected by seasonality, regularization and proactive EAM exits. In Q1 to date, all divisions positive Execution Profitable growth Legacy Capital Detailed Financials Wealth Management NNA in 4Q161 in CHF bn 1 Relating to Wealth Management in SUB, IWM and APAC 2 Includes IWM International Private Clients business CREDIT SUISSE 0.7 1.2 0.7 Seasonal effects Proactive management action (incl. regularization and selected EAM exits) -1.6 -1.5 -1.5 -1.9 -1.4 -2.9 -3.5 APAC Emerging Europe, Middle Europe 2 Latin America SUB SUB 4Q15 East & Africa IWM February 14, 2017 10#11In 2016, strong inflows across Emerging and Mature Markets Execution Profitable growth Legacy Capital Detailed Financials Wealth Management NNA in 20161 in CHF bn NNA growth rate 1 Relating to Wealth Management in IWM (excluding Latin America) and APAC 2 Includes IWM International Private Clients business CREDIT SUISSE 14.6 14.3 4.2 APAC IWM Emerging Europe, Middle East & Africa IWM - Europe² 10% 13% 4% February 14, 2017 11#12Continued growth in assets under management during 2016 Execution Profitable growth Legacy Capital Detailed Financials AuM in Wealth Management¹ in CHF bn 681 673 + CHF 53 bn 698 725 734 4Q15 1Q16 2Q16 3Q16 4Q16 1 Relating to Wealth Management in SUB, IWM and APAC CREDIT SUISSE February 14, 2017 12#13Strong performance across our APAC wealth management activities APAC Wealth Management and connected activities¹ Execution Profitable growth Legacy Capital Detailed Financials Adjusted pre-tax income (management estimate)2 in CHF mn Adjusted return on regulatory capital+ (management estimate)2 311 +65% 513 700 2015 2016 2018 Target 16% 23% Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix + See Appendix 1 Includes contributions from APAC Wealth Management, APAC Underwriting and Advisory as well as Financing for activities with our UHNWI, Entrepreneurs and Corporate clients 2 Pro forma Wealth Management and connected activities within APAC based on preliminary estimates CREDIT SUISSE February 14, 2017 13#14Strong asset inflows and increase in profitability in IWM Execution Profitable growth Legacy Capital Detailed Financials IWM Wealth Management NNA in CHF bn -3.0 15.6 2015 2016 Adjusted gross margin in bps 107 110 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix + See Appendix CREDIT SUISSE IWM Adjusted pre-tax income in CHF bn 1.0 1.1 2015 2016 Adjusted return on regulatory 22% 23% capital+ February 14, 2017 14#15SUB delivered year-on-year profit growth for the fourth consecutive quarter... Execution Profitable growth Legacy Capital Detailed Financials +10% +6% 2015 ■2016 +8% 472 457 431 432 431 +13% 400 Adjusted pre-tax income¹ in CHF mn 378 336 1Q 2Q 3Q 4Q Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results and a reconciliation of adjustments applied for Swisscard are included in the Appendix. Financial and other information is for Swiss Universal Bank division. Scope of Credit Suisse (Schweiz) AG differs from Swiss Universal Bank division 1 Excludes Swisscard impact CREDIT SUISSE February 14, 2017 15#16...with PTI up 15% compared to 2014 Adjusted pre-tax income¹ in CHF bn +15% 1.7 1.6 1.5 2014 2015 2016 Execution Profitable growth Legacy Capital Detailed Financials Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results and a reconciliation of adjustments applied for Swisscard are included in the Appendix. Financial and other information is for Swiss Universal Bank division. Scope of Credit Suisse (Schweiz) AG differs from Swiss Universal Bank division 1 Excludes Swisscard impact CREDIT SUISSE February 14, 2017 16#17Global advisory and underwriting delivering increased revenues and outperformance against the market Execution Profitable growth Legacy Capital Detailed Financials 3.5 0.9 +9% Performance 3.8 vs. market² 0.8 Equity underwriting 2.0 Debt underwriting Global advisory and underwriting revenues¹ 1.7 in USD bn 1.0 Advisory 0.9 2015 2016 1 Gross global revenues from advisory, debt and equity underwriting generated across all divisions before cross-divisional revenue sharing agreements 2 Dealogic as of December 31, 2016, relating to 2016 vs. 2015 revenue development CREDIT SUISSE February 14, 2017 17#18Benefits from Global Markets restructuring starting to emerge - lower operating expenses and capital consumption... Execution Profitable growth Legacy Capital Detailed Financials Adjusted operating expenses in USD bn 6.0 -13% <5.2 2015 4Q16 annualized 1 RWA in USD bn 64 .. -20% 51 2015 2016 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Based on 4Q16 annualized adjusted cost base, which was below our previous estimate of CHF 5.2 bn presented at the Investor Day on December 7, 2016 CREDIT SUISSE February 14, 2017 18#19...combined with a strong rebound in Credit revenues and a resilient Equities performance Execution Profitable growth Legacy Capital Detailed Financials Credit products net revenues in USD mn 366 +66% 608 Equities excl. SMG¹ net revenues in USD mn. 315 +34% 421 4Q15 4Q16 3Q16 4Q16 1 SMG = Strategic Market-Making Group CREDIT SUISSE February 14, 2017 19#20Continued progress in reducing legacy portfolio Execution Profitable growth Legacy Capital Detailed Financials SRU RWA in USD bn 73 -39% 44 30 30 2015 2016 2019 Target SRU leverage exposure 170 103 in USD bn SRU adjusted operating expenses in USD bn 2.7 40 1.6 0.41 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Based on annualized 2019 quarterly average adjusted operating expense ambition, as presented at the Investor Day on December 7, 2016 CREDIT SUISSE February 14, 2017 20 20#21Execution Strengthening our capital position - "look-through" CET1 ratio Profitable growth at 11.6% (12.5%¹ pre-DOJ RMBS settlement) Legacy Capital Detailed Financials Basel III "look-through" CET1 capital ratio 8.0% 10.0% 10.1% 12.5% Pre-DOJ RMBS settlement¹ 12.0% 11.8% 11.4% 0.9% 11.4% Impact of DOJ RMBS settlement¹ 11.6% Post-DOJ RMBS settlement 4Q12 4Q13 4Q14 4Q15 1Q16 2Q16 3Q16 4Q16 1 The look-through CET1 ratio, without taking into account the impact of the final DOJ settlement relating to our legacy RMBS business, excludes a provision in 4Q16 of approximately USD 2 bn and an increase in operational risk RWA of approximately CHF 0.7 bn CREDIT SUISSE February 14, 2017 21#22Current trading and outlook Execution Profitable growth Legacy Capital Detailed Financials Continued momentum in January across Wealth Management and Investment Banking - We have seen positive inflows across each of our Wealth Management¹ businesses in January Significant rebound in client activity levels across capital markets and trading, with Credit and Securitized Products revenues up over 100% year-on-year2, somewhat offset by lower trading volumes and volatility levels in Equities IBCM revenues up 90% year-on-year² with broad based strength in Advisory, ECM and DCM Well positioned to capture profitable growth opportunities and benefit from improved market conditions 1 Relating to Wealth Management in SUB, IWM and APAC 2 Month of January 2017 vs. 2016 CREDIT SUISSE February 14, 2017 22 22#23CREDIT SUISSE Detailed Financials#24Results overview Execution Profitable growth Legacy Capital Detailed Financials Credit Suisse Group results 4Q16 3Q16 4Q15 2016 2015 Net revenues 5,181 5,396 4,210 20,323 23,797 Provision for credit losses 75 55 133 252 324 Total operating expenses 7,009 5,119 10,518 22,037 25,895 Pre-tax income/(loss) (1,903) 222 (6,441) (1,966) (2,422) Fair value (gains)/losses on own debt 697 (298) Real estate gains (78) (346) (72) (424) (95) (Gains)/losses on business sales 2 (34) 58 (34) Goodwill impairment (3,797) (3,797) Restructuring expenses (49) (145) (355) (540) (355) Major litigation expenses (2,101) (306) (564) (2,407) (820) Adjusted Net revenues Provision for credit losses 5,105 5,050 4,801 19,957 23,370 75 55 133 252 324 Total operating expenses 4,859 4,668 5,802 19,090 20,923 Pre-tax income 171 327 (1,134) 615 2,123 Net income/(loss) attributable to shareholders (2,347) 41 (5,828) (2,438) (2,944) Diluted Earnings/(loss) per share in CHF Return on Tangible Equity¹ (1.12) n/m 0.02 0.4% (3.28) n/m (1.19) (1.73) n/m n/m 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 February 14, 2017 24#254Q16 capital ratios impacted by DOJ settlement; continued reallocation of resources to growth areas Basel III RWA in CHF bn 11.4% 290 CET1 ratio 11.6% 4Q16 vs. 4Q15 Basel III RWA business impact² in CHF bn +9 Execution Profitable growth Legacy Capital Detailed Financials LIZIN ±± +1 +1 IBCM SUB IWM +2 APAC +5 4Q15 (2) (12) 7 268 (33) 4 (28) Business impact¹ FX impact Methodology & policy1 4Q16 Leverage exposure in CHF bn 3.3% CET1 leverage ratio 3.3% 4.5% Tier1 leverage ratio 4.4% SRU GM Corp. Ctr. Growth businesses 4Q16 vs. 4Q15 Leverage exposure business impact² in CHF bn 988 (32) (5) 951 (63) Business impact FX impact & Other³ 4Q15 4Q16 L +30 IWM4 +4 IBCM +5 +6 APAC +9 SUB +12 SRU Corp. Ctr. GM Growth businesses 4 1 Business impact includes business moves and internally driven methodology and policy impact; methodology & policy reflects external methodology changes only 2 Net of FX and major external methodology changes 3 Includes FX impact of CHF 8 bn and the impact of CHF (13) bn from the change in accounting treatment of collateralized loan obligations (CLOS) in 1Q16 4 IWM excludes the impact of CHF (13) bn from the change in accounting treatment of collateralized loan obligations (CLOS) in 1Q16 CREDIT SUISSE February 14, 2017 25#26End-2016 CET1 ratio at 11.6% and within target range despite negative impact from the DOJ settlement Execution Profitable growth Legacy Capital Detailed Financials 12% CET1 ratio target through end-20161 11% 4Q15 to 4Q16 CET1 ratio development 1 Pre-significant litigation 11.4% 12.5%2 11.6% -(0.9)% 4Q15 4Q16 (pre-DOJ RMBS settlement) DOJ RMBS settlement 4Q16 reported 2 The look-through CET1 ratio, without taking into account the impact of the final DOJ settlement relating to our legacy RMBS business, excludes a provision in 4Q16 of approximately USD 2 bn and an increase in operational risk RWA of approximately CHF 0.7 bn CREDIT SUISSE February 14, 2017 26#27Net cost savings of CHF 1.9 bn achieved in 2016, exceeding target for the year by CHF 0.5 bn Execution Profitable growth Legacy Capital Detailed Financials Adjusted operating expenses at constant FX rates* in CHF bn Key messages (1.86) 21.24 <19.8 19.38 <18.5 <17.0 Full year 2015 2016 Target Full year 2016 2017 2018 Target Target Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix Headcount includes permanent full-time equivalent employees, contractors, consultants and other contingent workers CREDIT SUISSE Achieved full year net savings of CHF 1.9 bn, exceeding target by CHF 0.5 bn, including net headcount reductions of more than 7,250 By end-2017 we target to be below CHF 18.5 bn, including an incremental headcount reduction of more than 5,500 for the year Committed to delivering on our end-2018 target with cost base of below CHF 17.0 bn * See Appendix February 14, 2017 27#28Swiss Universal Bank Strong full year performance with the fourth consecutive quarter of YoY PTI growth Adjusted key financials in CHF mn 4Q16 3Q16 4Q15 2016 2015 Net revenues 1,379 1,321 1,4001 5,393 5,6031 o/w Private Banking 838 814 8811 3,338 o/w Corp. & Inst. Banking 541 507 5191 2,055 3,5911 2,0121 Provision for credit losses 34 30 43 79 138 Total operating expenses 967 860 1,021 3,576 3,841 Pre-tax income 378 431 3361 1,738 1,6241 Pre-tax income ex Swisscard 378 431 3361 1,738 1,5991 o/w Private Banking 171 214 1411 879 8031 o/w Corp. & Inst. Banking 207 217 195¹ 859 7961 Cost/income ratio 70% 65% 73% 66% 69% Return on regulatory capital+ 12% 14% 11% 14% 13% Key metrics in CHF bn 4Q16 3Q16 4Q15 2016 Adj. net margin in bps 28 35 231 36 2015 321 Net new assets (3.5) 0.2 (2.9) (1.7) 3.2 Mandates penetration 30% 29% 26% 30% 26% Net loans 166 167 163 166 163 Net new assets C&IB 2.5 (1.2) 4.2 4.3 10.6 Risk-weighted assets 66 66 60 66 60 Leverage exposure 253 246 238 253 238 PB Key messages Execution Profitable growth Legacy Capital Detailed Financials Pre-tax income up 13% compared to 4Q15; full year 2016 result² improved 9% YoY with continued focus on cost discipline Improved revenues from 3Q16; slightly down from 4Q15 which included an extraordinary dividend from our ownership in SIX Group Operating expenses down 5% from 4Q15 Credit provisions at low levels, reflecting the quality of our loan portfolio Wealth Management Credit Suisse Invest continued driving mandates penetration of 30%, up 4 pp. vs. 4Q15 Continued selected exits in the External Asset Manager (EAM) business and regularization outflows impacted 4Q16 NNA by CHF (1.9) bn, totaling CHF (3.8) bn for full year 2016 AuM of CHF 243 bn (up CHF 2 bn / 1% vs. full year 2015) Corporate & Institutional Banking Continued strong result with improved revenue performance QoQ / YoY; good IB momentum in Switzerland reflected in a strong increase in revenues in 4Q16 Total AuM of CHF 289 bn (up CHF 13 bn / 5% vs. full year 2015) Note: Financial and other information is for Swiss Universal Bank division. Scope of Credit Suisse (Schweiz) AG differs from Swiss Universal Bank division. All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Includes an extraordinary dividend from SIX Group of CHF 24 mn in PB and CHF 4 mn in C&IB in 4Q15 2 Adjusted to exclude Swisscard net revenues and operating expenses for 2015 in SUB PB CREDIT SUISSE + See Appendix February 14, 2017 28#29International Wealth Management 9% PTI growth in 2016 with higher revenues and record PB NNA Adjusted key financials in CHF mn Net revenues 4Q16 3Q16 4Q15 2016 2015 1,245 1,081 1,1621 4,644 4,5411 o/w Private Banking 864 789 7971 3,317 3,2131 o/w Asset Management 381 292 365 1,327 1,328 Provision for credit losses 6 (7) 20 5 Total operating expenses 939 840 940 3,515 3,520 Pre-tax income 300 241 2291 1,109 1,0161 o/w Private Banking 192 190 1901 822 8301 o/w Asset Management 108 51 39 287 186 Cost/income ratio 75% 78% 81% 76% 78% Return on regulatory capital+ 24% 20% 19% 23% 22% Key metrics in CHF bn 4Q16 3Q16 4Q15 2016 2015 Adj. net margin in bps 24 25 261 27 281 Net new assets 0.4 4.4 (4.2) 15.6 (3.0) Number of RM 1,140 1,160 1,180 1,140 1,180 Net loans 45 43 40 45 40 Net new assets AM (4.4) 5.0 3.6 5.6 26.5 Risk-weighted assets 35 33 33 35 33 Leverage exposure 94 89 102 94 102 PB Key messages Execution Profitable growth Legacy Capital Detailed Financials Strong finish to the year with an increase across major revenue components in 4Q16 vs. 3Q16 Improved return on regulatory capital and cost/income ratio despite further investments in growth and in compliance & risk functions Wealth Management AuM increased 12% during 2016 with NNA of CHF 15.6 bn from emerging markets and Europe; NNA growth rate at 5%, or 7% before regularization outflows of CHF 5.7 bn Improved gross margin by 3 bps to 110 bps in 2016 Revenue increase in 2016; higher net interest income and improved client activity in 4Q16; recurring revenues stabilized Stable PTI with investments offsetting higher revenues; PTI up 15% vs. 4Q15 if excluding an extraordinary SIX dividend in 4Q15 Asset Management Pre-tax income up 54% vs. 2015 Management fees increased by 2%; solid cost control with total expenses down 9% in 2016 NNA of CHF 5.6 bn in 2016; negative NNA in 4Q16, mainly reflecting CHF 3.5 bn emerging market money market outflows Note: All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Includes an extraordinary dividend from SIX Group of CHF 23 mn in 4Q15 CREDIT SUISSE † See Appendix February 14, 2017 29#30Asia Pacific Continued growth and record full year results in Wealth Management Adjusted key financials in CHF mn 4Q16 3Q16 4Q15 2016 2015 Net revenues 862 917 826 3,597 3,839 Provision for credit losses 11 34 3 26 35 Total operating expenses 729 708 675 2,793 2,662 Pre-tax income 122 175 148 778 1,142 Cost/income ratio 85% 77% 82% 78% 69% Return on regulatory capital+ 9% 13% 12% 15% 20% Pro-forma Wealth Management & connected activities¹ in CHF mn 4Q16 3Q16 4Q15 2016 2015 167 99 61 513 311 Key metrics in CHF bn 4Q16 3Q16 4Q15 2016 2015 Adj. net margin in bps 23 17 15 24 23 Net new assets 0.7 4.6 3.0 14.6 17.8 Number of RM 640 650 580 640 580 Net loans 40 39 36 40 36 Risk-weighted assets 35 32 27 35 27 Leverage exposure 109 108 99 109 99 Pre-tax income PB Key messages Execution Profitable growth Legacy Capital Detailed Financials Record net revenues and pre-tax income in Wealth Management for the full year and 4Q16, with a revenue increase of 37% vs. 4Q15 Continued positive NNA of CHF 0.7 bn in 4Q16 and CHF 14.6 bn in 2016, despite regularization outflows of CHF 1.4 bn in 4Q16 and CHF 2.5 bn in 2016 Wealth Management gross margin up 15 bps vs. 4Q15 including higher margins on growing loan and deposit volumes and increased client activity; net margin up 8 bps vs. 4Q15 Improved performance in Underwriting & Advisory vs. 4Q15 from increased client activity - #1 Rank2 in APAC ex-Japan amongst international banks for 2016 Fixed income sales and trading revenues were lower in 4Q16 vs. 4Q15, reflecting reduction in client activity, especially in Rates, partially offset by positive net fair value impact on a portfolio of impaired loans and higher FX activity Equities revenues (excluding SMG³) up slightly vs. 4Q15, mainly reflecting trading gains and positive net fair value impact on a portfolio of impaired loans, partially offset by decrease in Prime Services. Full year 2016 results were adversely impacted from decreased client activity in Greater China + See Appendix Note: All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Includes contributions from APAC Wealth Management, APAC Underwriting and Advisory as well as Financing for activities with our UHNWI, Entrepreneurs and Corporate clients. Pro forma Wealth Management and connected activities within APAC are based on preliminary estimates 2 Source: Dealogic 3 SMG = Strategic Market-Making Group CREDIT SUISSE February 14, 2017 30#31Investment Banking & Capital Markets Execution Profitable growth Legacy Increased PTI reflects improved share of wallet and strong performance in debt underwriting Capital Adjusted key financials in USD mn Key messages Detailed Financials 4Q16 3Q16 4Q15 2016 2015 4Q16 Net revenues 569 479 418 2,001 1,857 Provision for credit losses (1) (9) 20 Total operating expenses 428 433 496 1,684 1,764 Pre-tax income 142 55 (78) 297 93 Cost/income ratio 75% 91% 119% 84% 95% Return on regulatory capital+ 22% 9% n/m 12% 5% Key metrics in USD bn 4Q16 3Q16 4Q15 2016 2015 Risk-weighted assets 18 19 16 18 16 Leverage exposure 45 46 41 45 41 Global Advisory and Underwriting revenues¹ in USD mn 4Q16 3Q16 4Q15 2016 2015 Global advisory and underwriting revenues1 1,042 945 790 3,771 3,460 Strong PTI driven by 4Q16 net revenues of USD 569 mn up 36% YoY, outperforming the Street Operating expenses down 14% YoY on lower variable compensation and general and administrative expenses Return on regulatory capital of 22%, with Americas return on regulatory capital of 28% RWA of USD 18 bn up 8% YoY due to an increase in IBCM's share of the Corporate Bank, partially offset by reduced commitments related to debt underwriting activity Global advisory and underwriting revenues¹ up 32% YoY, outperforming the industry-wide fee pool which is up 1% 2016 2016 net revenues were up 8% YoY on strong advisory and debt underwriting revenues, outperforming the Street² Operating expenses down 5%, reflecting cost discipline and self- funded growth investment Results reflect continued execution of our strategy, evidenced by improved share of wallet² across all key products for full year 2016 Increased covered share of wallet2 across all client segments Note: All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix. All share of wallet and rank data is based on IBCM addressable market; includes Americas and EMEA only; excludes self-advised deals and non-core DCM products (investment grade loans, asset-backed and mortgage-backed securities, and government debt) 1 Gross global revenues from advisory, debt and equity underwriting generated across all divisions before cross-divisional revenue sharing agreements 2 Source: Dealogic + See Appendix CREDIT SUISSE February 14, 2017 31#32Global Markets Global Markets delivers profitability in a restructuring year Adjusted key financials in USD mn Key messages 4Q16 3Q16 4Q15 2016 2015 Equities o/w SMG 441 330 531 1,861 2,388 20 15 84 183 423 Credit Solutions 608 740 366 2,501 3,131 259 359 316 1,384 1,759 Other (52) (33) (45) (171) (154) Net revenues 1,256 1,396 1,168 5,575 7,124 Provision for credit losses (3) (6) (4) (4) 11 Total operating expenses 1,236 1,251 1,679 5,295 5,977 Pre-tax income 23 151 (507) 284 1,136 Cost/income ratio 98% 90% 144% 95% 84% Return on regulatory capital+ 1% 4% n/m 2% 7% Key metrics in USD bn 4Q16 3Q16 4Q15 2016 2015 Risk-weighted assets 51 53 64 51 64 Leverage exposure 278 296 280 278 280 Execution Profitable growth Legacy Capital Detailed Financials Substantial rebound in profitability vs. 4Q15 driven by an 8% increase in revenues on a 20% reduction in RWA and 26% reduction in costs, highlighting strength of resized franchise Strong results and leading market positions in credit products, securitized products and emerging markets vs. 4Q15 with outperformance in the Americas Higher equities revenues in a seasonally slower quarter, up 34% vs. 3Q16, reflecting an increase in trading volumes YoY revenue decline in equity derivatives on lower volatility, albeit significant sequential improvement as client activity increased; further collaboration with IWM clients core management focus for 2017 Operating expenses declined 26% vs. 4Q15 reflecting lower compensation and benefits and other expenses 4Q16 annualized 1 cost base exit rate below USD 5.2 bn²; on track to achieve 2018 ambition of < USD 4.8 bn in costs Expenses declined USD 682 mn vs. 2015 driven by substantial progress on accelerated cost initiatives Increased capital efficiency and reduced risk profile; operating below year-end 2016 RWA ceiling of USD 60 bn and leverage exposure ceiling of USD 290 bn Note: All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Annualized numbers do not take account of variations in operating results, seasonality and other factors and may not be indicative of actual, full-year results 2 Estimated 4Q16 annualized exit rate shown at Investor Day 2016 CREDIT SUISSE February 14, 2017 32#33Strategic Resolution Unit Continued execution of our strategy - 4Q16 adjusted expenses down 58% YoY; leverage exposure and RWA down 39% Key financials in USD mn Adjusted 4Q16 3Q16 4Q15 2016 2015 Net revenues (201) Provision for credit losses 28 6 (170) (125) (1,283) 99 557 Total operating expenses 287 351 688 1,584 Pre-tax loss (516) (527) 138 2,677 (912) (2,982) (2,258) 115 Real estate gains (4) (4) Loss on business sales 1 6 Restructuring expenses 1 23 158 123 158 Major litigation expenses 2,029 324 258 2,353 295 Pre-tax loss reported (2,543) (874) (1,328) (5,460) (2,711) Key metrics in USD bn 4Q16 3Q16 4Q15 2016 2015 Risk-weighted assets 44 55 73 44 73 RWA excl. operational risk 25 35 54 25 54 Leverage exposure 103 119 170 103 170 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix CREDIT SUISSE Key messages Execution Profitable growth Legacy Capital Detailed Financials Continued progress in reducing RWA and leverage exposure in 4Q16 by USD 11 bn and USD 16 bn, respectively. RWA for derivatives, loans and financing portfolios down 38% vs. 3Q16: Broad range of transactions executed in the quarter, including the sale of loan portfolios, and a large number of unwinds and compressions across macro and credit derivative products Reductions include the sale of a loan portfolio in connection with which GM entered into a co-investment agreement; and the transfer of certain derivative positions from SRU to GM which received regulatory approval to apply updated capital models. Combined impact on RWA and Leverage for GM of USD 3 bn and USD 8 bn, respectively Adjusted pre-tax income improved by USD 11 mn vs. 3Q16: Reduction to adjusted operating expenses vs. prior quarter, partially offset by lower fee based revenues from legacy investment banking businesses due to accelerated unwinds; exit cost at ~0.5% of RWA; revised lifetime guidance to < 3% On a year-on-year basis, RWA and leverage exposure reduced by USD 29 bn (39%) and USD 67 bn (39%), respectively. Bilateral derivatives trade count of 142k, down 191k vs. 4Q15, or 57% Full year 2016 adjusted operating expenses lower by USD 1.1 bn, or 41%, driven by the exit from US Private Banking onshore business and reduced footprint in legacy Investment Banking businesses 4Q16 includes a USD 2 bn expense provision in connection with the settlement with the US Department of Justice related to our legacy residential mortgage-backed securities business February 14, 2017 33#34Summary 1 Executing with discipline 2 Growing profitably 3 Resolving key legacy issues 4 Strengthening our capital position CREDIT SUISSE February 14, 2017 34#35CREDIT SUISSE Appendix#36Wealth Management businesses Net and gross margins APAC PB Adj. net margin in bps IWM PB Adj. net margin in bps SUB PB Adj. net margin in bps 35 23 23 24 26 25 24 28 32 36 27 23 28 15 17 23 23 4Q15 3Q16 4Q16 2015 2016 Adj. gross margin in bps 4Q15 3Q16 4Q16 2015 2016 Adj. gross margin in bps 4Q15 3Q16 4Q16 2015 2016 Adj. gross margin¹ in bps 145 134 138 138 138 108 104 109 107 110 72 84 87 79 86 4Q15 3Q16 4Q16 2015 2016 4Q15 3Q16 4Q16 2015 2016 4Q15 3Q16 4Q16 2015 2016 372 1,178 1,374 797 789 864 3,213 3,317 881 814 838 3,443 3,338 Adj. net revenues¹ in CHF mn 271 346 Adj. pre-tax income in CHF mn 55 69 97 351 376 190 190 192 830 822 141 214 171 803 879 Average AuM in CHF bn 151 165 172 150 160 295 304 316 301 300 243 243 243 249 241 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in this presentation. For details on calculations see at the end of this presentation under 'Notes' 1 Adjusted to exclude Swisscard net revenues and operating expenses for 1Q and 2Q in 2015 in SUB PB CREDIT SUISSE February 14, 2017 36#37Swiss Universal Bank Private Banking and Corporate & Institutional Banking Private Banking Adjusted key financials in CHF mn C&IB Adjusted key financials in CHF mn 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 Net interest income 454 446 465 1,801 1,770 Net interest income 291 278 288 1,083 987 Recurring commissions & fees 253 243 257 971 1,102 Recurring commissions & fees 125 118 116 475 467 Transaction-based 131 125 159 564 720 Transaction-based 139 124 128 548 593 Other revenues 2 (1) Other revenues (14) (13) (13) (51) (35) Net revenues 838 814 881 3,338 3,591 Net revenues 541 507 519 2,055 2,012 Provision for credit losses 10 13 14 39 49 Provision for credit losses 24 17 29 40 89 Total operating expenses 657 587 726 2,420 2,714 Total operating expenses 310 273 295 1,156 1,127 Pre-tax income 171 214 141 879 828 Pre-tax income 207 217 195 859 796 Pre-tax income ex Swisscard 171 214 141 879 803 Cost/income ratio 57% 54% 57% 56% 56% Cost/income ratio 78% 72% 82% 72% 76% Key metrics in CHF bn Key metrics in CHF bn 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 Adj. net margin in bps 28 35 23 36 32 Net new assets 2.5 (1.2) 4.2 4.3 10.6 Net new assets (3.5) 0.2 (2.9) (1.7) 3.2 Assets under management 289 285 276 289 276 Assets under management 243 245 241 243 241 Number of RM 480 480 490 480 490 Mandates penetration 30% 29% 26% 30% 26% Number of RM 1,490 1,500 1,570 1,490 1,570 Note: Financial and other information is for Swiss Universal Bank division. Scope of Credit Suisse (Schweiz) AG differs from Swiss Universal Bank division. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in this presentation 1 Adjusted to exclude Swisscard net revenues and operating expenses in 2015 in SUB PB CREDIT SUISSE February 14, 2017 37#38International Wealth Management Private Banking and Asset Management Private Banking Adjusted key financials in CHF mn Asset Management Adjusted key financials in CHF mn 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 Net interest income 353 326 275 1,308 1,006 Management fees 228 218 225 891 873 Recurring commissions & fees 277 267 283 1,093 1,161 Performance & placement rev. 108 41 56 208 164 Transaction- and perf.-based 235 197 240 922 1,049 Investment & partnership inc. 45 33 84 228 291 Other revenues (1) (1) (1) (6) (3) Net revenues 381 292 365 1,327 1,328 Net revenues 864 789 797 3,317 3,213 Total operating expenses 273 241 326 1,040 1,142 Provision for credit losses 6 (7) 20 5 Pre-tax income 108 51 39 287 186 Total operating expenses 666 599 614 2,475 2,378 Cost/income ratio 72% 83% 89% 78% 86% Pre-tax income 192 190 190 822 830 Cost/income ratio 77% 76% 77% 75% 74% Key metrics in CHF bn Key metrics in CHF bn 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 Adj. net margin in bps 24 25 26 27 28 Net new assets (4.4) 5.0 3.6 5.6 26.5 Net new assets 0.4 4.4. (4.2) 15.6 (3.0) Assets under management 322 324 321 322 321 Assets under management 323 311 290 323 290 Net loans 45 43 40 45 40 Number of RM 1,140 1,160 1,180 1,140 1,180 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in this presentation CREDIT SUISSE February 14, 2017 38#39Asia Pacific Private Banking and Investment Banking Private Banking Adjusted key financials in CHF mn Investment Banking Adjusted key financials in USD mn 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 Net interest income 166 159 131 602 445 Fixed income sales & trading 71 152 140 647 636 Recurring commissions & fees 92 67 60 302 260 Equity sales & trading 337 349 374 1,335 1,947 Transaction- and perf.-based 114 120 84 486 456 Underwriting & advisory 114 118 80 407 303 Other revenues (4) (16) 17 Other revenues (35) (32) (42) (130) (113) Net revenues 372 346 271 1,374 1,178 Net revenues 487 587 552 2,259 2,773 Provision for credit losses 6 38 (5) 32 18 Provision for credit losses 2 (5) 8 (7) 17 Total operating expenses 266 239 221 966 809 Total operating expenses 459 483 454 1,851 1,924 Pre-tax income 97 69 55 376 351 Pre-tax income 26 109 90 415 832 Cost/income ratio 72% 69% 82% 70% 69% Cost/income ratio 94% 82% 82% 82% 69% Key metrics in CHF bn 4Q16 3Q16 4Q15 2016 2015 Adj. net margin in bps 23 17 15 24 23 Net new assets 0.7 4.6 3.0 14.6 17.8 Assets under management 168 169 150 168 150 Number of RM 640 650 580 640 580 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in this presentation CREDIT SUISSE February 14, 2017 39#40Adjusted results are non-GAAP financial measures that exclude goodwill impairment and certain other revenues and expenses included in our reported results. Management believes that adjusted results provide a useful presentation of our operating results for purposes of assessing our Group and divisional performance consistently over time, on a basis that excludes items that management does not consider representative of our underlying performance. Provided below is a reconciliation of our adjusted results to the most directly comparable US GAAP measures. Reconciliation of adjustment items (1/2) CS Group in CHF mn SRU in USD mn Corp. Ctr. in CHF mn Net revenues reported 4Q16 3Q16 4Q15 2016 2015 5,181 5,396 4,210 20,323 23,797 (170) 4Q16 3Q16 4Q15 2016 2015 (198) (125) (1,285) 557 4Q16 3Q16 4Q15 (16) 2016 2015 72 (748) 71 561 Fair value on own debt 697 (298) 697 (298) Real estate gains (78) (346) (72) (424) (95) (4) (4) (Gains)/losses on business sales 2 (34) 58 (34) 1 6 Net revenues adjusted 5,105 5,050 Provision for credit losses 75 55 4,801 133 19,957 23,370 (201) 252 324 28 (170) 6 (125) (1,283) 557 (16) 72 (51) 123 99 115 138 - (2) Total operating expenses reported 7,009 5,119 10,518 22,037 25,895 2,317 698 1,104 4,060 3,130 262 279 307 759 སྐྱེ = 8 8 52 263 (1) 862 Goodwill impairment Restructuring expenses (49) Major litigation provisions (2,101) Total operating expenses adjusted 4,859 Pre-tax income/(loss) reported (1,903) Total adjustments Pre-tax income/(loss) adjusted 2,074 171 (3,797) (145) (355) (540) (306) (564) (2,407) 4,668 5,802 19,090 222 (6,441) (1,966) 105 5,307 2,581 327 (1,134) 615 (3,797) (355) (820) 20,923 (1) (2,029) (23) (324) (258) 287 (2,422) 4,545 2,123 (2,543) 2,027 (516) (527) 351 (874) 347 (158) (123) (158) (2,353) (295) 688 1,584 (1,328) (5,460) (2,711) (7) (7) 2,677 255 279 307 752 862 (278) (207) (1,053) (687) (300) 416 2,478 (912) (2,982) (2,258) 453 7 697 59 (298) (271) (207) (356) (628) (598) IWM AM in CHF mn GM in USD mn IBCM in USD mn 4Q16 3Q16 381 292 4Q15 365 2016 2015 1,327 1,328 4Q16 3Q16 4Q15 2016 2015 1,256 1,396 1,168 5,575 7,124 4Q16 3Q16 4Q15 2016 2015 569 479 418 2,001 1,857 Net revenues reported Fair value on own debt Real estate gains (Gains)/losses on business sales Net revenues adjusted 381 292 365 1,327 1,328 Provision for credit losses Total operating expenses reported 278 243 330 1,047 1,146 1,256 1,396 1,168 5,575 (3) (6) 1,250 1,310 7,124 569 479 418 2,001 1,857 (4) (4) 11 (1) (9) 20 Goodwill impairment Restructuring expenses (5) (2) (4) (7) (4) (14) Major litigation provisions Total operating expenses adjusted 273 241 Pre-tax income/(loss) reported 103 Total adjustments 5 Pre-tax income/(loss) adjusted 108 275 326 1,040 1,142 1,236 (52) (7) (51) 1,251 1,679 4,517 (2,690) (97) 5,522 9,004 422 449 902 1,713 2,170 (2,690) (384) (384) (220) (97) 6 (16) (22) (29) (22) (7) (240) 5,295 5,977 428 433 496 1,684 1,764 49 35 280 182 9 92 (3,345) 57 (1,891) 148 39 (484) 268 (313) 4 7 4 14 59 2,838 227 3,027 (6) 16 406 29 406 51 39 287 186 23 151 (507) 284 1,136 142 55 (78) 297 93 CREDIT SUISSE February 14, 2017 40#41Adjusted results are non-GAAP financial measures that exclude goodwill impairment and certain other revenues and expenses included in our reported results. Management believes that adjusted results provide a useful presentation of our operating results for purposes of assessing our Group and divisional performance consistently over time, on a basis that excludes items that management does not consider representative of our underlying performance. Provided below is a reconciliation of our adjusted results to the most directly comparable US GAAP measures. Reconciliation of adjustment items (2/2) SUB PB in CHF mn IWM PB in CHF mn APAC PB in CHF mn 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 858 1,160 963 3,704 3,696 918 789 808 3,371 3,224 372 346 4Q15 2016 271 2015 1,374 1,178 Net revenues reported Fair value on own debt Real estate gains (20) (346) (72) (366) (95) (54) (54) (Gains)/losses on business sales (10) (10) (11) (11) Net revenues adjusted 838 814 881 3,338 3,591 864 789 797 3,317 3,213 372 346 271 1,374 1,178 Provision for credit losses 10 13 རྞ 14 39 49 6 (7) 20 5 9 38 (5) 32 18 Total operating expenses reported 654 603 784 2,471 2,772 684 593 874 2,510 2,678 267 242 228 970 816 Goodwill impairment Restructuring expenses 3 (16) (33) (51) (33) (11) (13) (32) (47) (32) € (3) (1) (4) (1) Major litigation provisions (25) (25) (7) 19 (228) 12 (268) (6) (6) Total operating expenses adjusted 657 587 726 2,420 2,714 666 599 614 2,475 2,378 266 239 221 966 809 Pre-tax income/(loss) reported 194 544 165 1,194 875 228 196 (59) 841 541 96 66 48 372 344 Total adjustments (23) (330) (24) (315) (47) (36) (6) 249 (19) 289 1 3 7 4 7 Pre-tax income/(loss) adjusted 171 214 141 879 828 192 190 190 822 830 97 69 55 376 351 SUB C&IB in CHF mn APAC IB in CHF mn APAC IB in USD mn 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 541 507 532 2,055 2,025 490 571 555 2,223 2,661 487 587 552 2,259 2,773 Net revenues reported Fair value on own debt Real estate gains (Gains)/losses on business sales (13) (13) Net revenues adjusted 541 507 519 2,055 2,012 490 Provision for credit losses 24 17 29 40 89 2 Total operating expenses reported 329 276 304 1,184 1,136 481 ཆེ༤གྲྭ 555 2,223 2,661 487 587 552 2,259 2,773 8 (6) 17 2 (5) 8 (7) 17 489 1,212 1,876 2,611 477 504 1,221 1,901 2,691 Goodwill impairment (756) (756) (765) (765) Restructuring expenses (3) (9) (9) (18) (20) (2) (49) (2) (18) (21) (2) (50) (2) Major litigation provisions (19) (19) Total operating expenses adjusted 310 273 295 1,156 1,127 463 469 454 1,827 1,853 459 483 454 1,851 1,924 Pre-tax income/(loss) reported 188 214 199 831 800 7 86 (665) 353 33 8 88 (677) 365 65 Total adjustments 19 3 (4) 28 (4) 18 20 758 49 758 18 21 767 50 767 Pre-tax income/(loss) adjusted 207 217 195 859 796 25 106 93 402 791 26 109 90 415 832 CREDIT SUISSE February 14, 2017 41#42Swisscard deconsolidation impact Impact of the deconsolidation on the Swiss Universal Bank SUB adjusted Swisscard impact¹ in CHF mn Net interest income 2014 1Q15 2015 3Q15 4Q15 2015 2,377 611 685 708 Recurring commissions & fees 1,671 412 412 372 2014 1Q15 2Q15 3Q15 4Q15 2015 753 2,757 36 9 18 373 1,569 233 56 59 115 2,341 602 676 708 1,438 356 353 Transaction-based revenues 1,462 382 349 295 287 1,313 49 7 15 1,413 Other revenues (36) (5) (7) (11) (13) (36) 1 Net revenues Provision for credit losses 94 33 5,474 1,400 1,439 1,364 1,400 5,603 23 318 73 75 148 SUB adjusted ex Swisscard 2014 1Q15 2015 3Q15 4Q15 2015 753 2,739 372 373 1,454 287 1,298 374 342 295 (36) (5) (7) (11) (13) (36) 5,156 1,327 1,364 1,364 1,400 5,455 39 43 138 5 LO 89 23 33 39 43 138 Total operating expenses Pre-tax income 1,586 3,794 934 961 443 445 Return on regulatory capital+ 13% 14% 14% 13% 925 1,021 3,841 400 336 1,624 11% 13% 239 61 62 123 3,555 873 899 74 12 13 25 I . 13% 1,512 431 432 14% 925 1,021 3,718 400 336 1,599 14% 13% 11% 13% + See Appendix Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results for other adjustments not relating to Swisscard is included in the Notes of this presentation 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, 2013. 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 February 14, 2017 42#43Currency mix & Group capital metrics Credit Suisse Core results¹ 2016 Contribution Core results in CHF mn CHF USD EUR GBP Other Net revenues 21,594 28% 43% 12% 2% 15% Total expenses² 18,100 33% 34% 5% 12% 16% Swiss Universal Bank Sensitivity analysis on Core results³ Applying a +/- 10% movement on the average FX rates for 2016, the sensitivities are: USD/CHF impact on 2016 pre-tax income by CHF 303/(303) mn EUR/CHF impact on 2016 pre-tax income by CHF172(172) mn Net revenues 5,758 79% 12% 7% 1% 1% Total expenses2 3,734 89% 5% 3% 2% 2% Currency mix capital metric4 "look-through" International Wealth Management Net revenues 4,697 25% 41% 20% 3% 11% 13% Total expenses² 3,576 46% 25% 12% 9% 9% 7% 6% Asia Pacific 12% 6% 8% Net revenues 3,597 2% 45% 2% 1% 50% 46% 44% 48% USD Total expenses² 2,872 7% 21% 1% 4% 68% 40% CET1 capital 5 Basel III Risk-weighted assets Swiss leverage exposure 43% Global Markets 27% Net revenues 5,497 -% 61% 20% 4% 14% CHF Total expenses² 5,449 2% 60% 4% 26% 9% USD CHF EUR Other Investment Bank & Capital Markets Net revenues 1,972 -% 91% 4% Total expenses² 1,710 2% 72% 5% 1 As reported 2 Total expenses include provisions for credit losses A 10% strengthening / weakening of the USD (vs. CHF) would have a +0.7 bps (3.5) bps impact on the "look-through" BIS CET1 ratio 3 Sensitivity analysis based on weighted average exchange rates of USD/CHF of 0.99 and EUR/CHF of 1.09 for the 2016 results 4 Data based on December 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 III regulatory adjustments (e.g. goodwill) CREDIT SUISSE February 14, 2017 43 3% 3% 16% 5%#44Notes General notes Specific notes Throughout the presentation rounding differences may occur All risk-weighted assets (RWA) and leverage exposure figures shown in this presentation are as of the end of the respective period and on a "look-through" basis Gross and net margins are shown in basis points (bps) Gross margin = adj. net revenues annualized / average AuM; net margin = adj. pre-tax income annualized / average AuM Mandates penetration reflects advisory and discretionary mandates as percentage of total AuM, excluding AuM from the external asset manager (EAM) business * "Adjusted 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, 2Q15: 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, 4Q15: USD/CHF 1.0000, EUR/CHF 1.0851, GBP/CHF 1.5123, 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, 4Q16: USD/CHF 1.0101, EUR/CHF 1.0798, GBP/CHF 1.2451. 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. + Regulatory capital reflects the worst of 10% of RWA and 3.5% of leverage exposure. Return on regulatory capital is based on (adjusted) returns after tax assuming a tax rate of 30% for all periods and capital allocated based on the worst of 10% of average RWA and 3.5% of average leverage exposure. For Global Markets and Investment Banking & Capital Markets, return on regulatory capital is based on US dollar denominated numbers. CREDIT SUISSE Abbreviations = = = = = = Assets under Management; bps = basis points; DCM Debt Capital Markets; DOJ Department of Justice; Global Markets; IB = Investment Banking; AM Adj. = Adjusted; Asset Management; AuM APAC = Asia Pacific; Corp. Ctr. Corporate Center; C&IB = Corporate & Institutional Banking; EAM External Asset Manager; ECM Equity Capital Markets; GM Investment Banking & Capital Markets; IWM International Wealth Management; n/m not meaningful; NNA Net new assets; PB Private Banking; pp. percentage points; PTI Pre-tax income; QoQ = Quarter-on-quarter; RM RMBS Residential Mortgage-Backed Securities; SMG Systematic Market-Making Group; SUB Swiss Universal Bank; UHNWI = Ultra High Net Worth Individuals; IBCM Relationship Manager(s); SRU = Strategic Resolution Unit; WM Wealth Management; = YoY Year-on-year = = = February 14, 2017 44#45CREDIT SUISSE