Fourth Quarter and Full Year 2016 Results  Presentation to Investors and Analysts  Revised – March 24, 2017  As announced on March 24, 2017, we updated our previously reported unaudited financial results for 4Q16 and 2016 to reflect additional after tax charges of CHF 272 million. These charges reflect an increase in the existing litigation provision by CHF 300 million for a settlement in principle to resolve the RMBS matter with the National Credit Union Administration Board. In addition, in our APAC division the previously reported amounts as of the end of 2016 for AuM and 2016 NNA have been reduced by CHF 1.4 billion and CHF 1 billion, respectively.This revised presentation updates those financial results and related information to reflect these charges and changes in AuM and NNA and does not update or modify any other information contained in the presentation originally published on February 14, 2017 that does not relate to these charges or changes to AuM and NNA. Specifically, terms such as “to date”, “current” or similar language used herein refers to the time at which these statements were originally made on February 14, 2017. 

 Disclaimer (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 initiativesWe 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 assumptionsIn 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 InformationThis 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. 

 Disclaimer (2/2)  Statement regarding non-GAAP financial measuresThis 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 leverageAs 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 restrictionsThis 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.  

 4Q16 and Full Year 2016Earnings ReviewTidjane Thiam, Chief Executive OfficerDavid Mathers, Chief Financial Officer 

 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 bn2 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  Overview of Credit Suisse 2016 results  Pre-tax income(CHF mn unless otherwise specified)    Reported      Adjusted        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    (5,753)  (2,711)    (2,982)  (2,258)  CS Group    (2,266)  (2,422)    615  2,123                RWA in CHF bn    268  290    2016 pre-DOJ RMBS settlement:    “Look-through” CET1 ratio    11.5%  11.4%    12.4%1    Leverage exposure in CHF bn    951  988        “Look-through” CET1 leverage ratio    3.2%  3.3%    3.5%2   

   We are well positioned to capture growth and benefit from improved market conditions  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix1 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  Growing profitablyWealth Management achieved CHF 27.5 bn of NNA in 2016, a 53%2 increase year-on-year; Assets under Management increased by 8% to CHF 733 bn2 in 2016 at higher gross and net marginsGlobal advisory and underwriting3 delivered increased revenues and outperformance against the market4Benefits from Global Markets restructuring starting to emerge: 4Q16 annualized5 adjusted cost base below USD 5.2 bn6 and increasing momentum across Credit and Equities  2  Strengthening our capital position“Look-through” CET1 ratio at 11.5% (12.4%7 pre-DOJ RMBS settlement)  4  Executing with disciplineSignificant increase in operating leverage: adjusted net cost savings of CHF 1.9 bn1 achieved in 2016, exceeding our target of > CHF 1.4 bn1  1  Resolving key legacy issuesSettlement with DOJ related to RMBS matterContinued progress in reducing legacy portfolio in the SRU  3 

 Adjustedtotal operating expenses at constant FX rates*in CHF bn   Achieved net cost savings of CHF 1.9 bn in 2016, exceedingour 2016 target of > CHF 1.4 bn  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          1.9      Execution  Profitable growth  Legacy  Detailed Financials  Capital 

   Large diversified platform generating strong asset inflowsin 2016…  NNA in Wealth Management1in CHF bn  2015  2016  +53%  1 Relating to Wealth Management in SUB, IWM and APAC   Execution  Profitable growth  Legacy  Detailed Financials  Capital 

   …with higher gross and net margins      Adjusted gross margin1,2 in bps  Adjusted net margin1,2 in bps      Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix1 Relating to Wealth Management in SUB, IWM and APAC2 Adjusted to exclude Swisscard net revenues of CHF 148 mn and operating expenses of CHF 123 mn for 2015 in SUB Wealth Management   Execution  Profitable growth  Legacy  Detailed Financials  Capital 

   4Q16 NNA affected by seasonality, regularization andproactive EAM exits. In Q1 to date, all divisions positive  1 Relating to Wealth Management in SUB, IWM and APAC2 Includes IWM International Private Clients business  Wealth Management NNA in 4Q161in CHF bn  -3.5  2  4Q15  -2.9    -1.9      Seasonal effects  Proactive management action (incl. regularization and selected EAM exits)  -1.5  -1.4    Execution  Profitable growth  Legacy  Detailed Financials  Capital  IWM 

   In 2016, strong inflows across Emerging and Mature Markets  1 Relating to Wealth Management in IWM (excluding Latin America) and APAC2 Includes IWM International Private Clients business  Wealth Management NNA in 20161in CHF bn  2  NNA growth rate   9%  13%  4%  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

   Continued growth in assets under management during 2016  AuM in Wealth Management1in CHF bn  1 Relating to Wealth Management in SUB, IWM and APAC  + CHF 52 bn            Execution  Profitable growth  Legacy  Detailed Financials  Capital 

   Strong performance across our APAC wealth managementactivities  Adjusted pre-tax income(management estimate)2in CHF mn  Adjusted return on regulatory capital† (management estimate)2  16%  23%  APAC Wealth Management and connected activities1  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix† See Appendix1 Includes contributions from APAC Wealth Management, APAC Underwriting and Advisory as well as Financing for activities with our UHNWI, Entrepreneurs and Corporate clients2 Pro forma Wealth Management and connected activities within APAC based on preliminary estimates  +65%  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

   Strong asset inflows and increase in profitability in IWM  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix† See Appendix  Adjusted return on regulatorycapital†  23%      IWM Wealth Management NNA in CHF bn  IWM Adjusted pre-tax income in CHF bn  Adjusted gross marginin bps  107  110  22%  2015  2016  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

   SUB delivered year-on-year profit growth for the fourthconsecutive quarter…  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 division1 Excludes Swisscard impact  Adjusted pre-tax income1in CHF mn              +10%  +6%  +8%  +13%  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

   …with PTI up 15% compared to 2014  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 division1 Excludes Swisscard impact  Adjusted pre-tax income1in CHF bn  Execution  Profitable growth  Legacy  Detailed Financials  Capital  +15%       

   Global advisory and underwriting delivering increased revenues and outperformance against the market  Global advisory and underwriting revenues1in USD bn  Advisory  Equity underwriting  Debt underwriting  1 Gross global revenues from advisory, debt and equity underwriting generated across all divisions before cross-divisional revenue sharing agreements2 Dealogic as of December 31, 2016, relating to 2016 vs. 2015 revenue development  +9%  Performance vs. market2        Execution  Profitable growth  Legacy  Detailed Financials  Capital 

   Benefits from Global Markets restructuring starting to emerge– lower operating expenses and capital consumption…  -13%      Adjusted operating expenses in USD bn  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix1 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  1  RWA in USD bn  -20%      Execution  Profitable growth  Legacy  Detailed Financials  Capital 

   …combined with a strong rebound in Credit revenues anda resilient Equities performance  Credit products net revenues in USD mn  Equities excl. SMG1 net revenues in USD mn  +34%  +66%  1 SMG = Strategic Market-Making Group  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

 SRU RWAin USD bn   Continued progress in reducing legacy portfolio      -39%  SRU leverage exposurein USD bn  170  103  SRU adjusted operating expenses in USD bn  2.7  1.6  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix1 Based on annualized 2019 quarterly average adjusted operating expense ambition, as presented at the Investor Day on December 7, 2016    40  0.41  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

 Strengthening our capital position – “look-through” CET1 ratioat 11.5% (12.4%1 pre-DOJ RMBS settlement)  Basel III “look-through” CET1 capital ratio  Impact of DOJ RMBS settlement1  Post-DOJRMBS settlement                  12.4%  Pre-DOJRMBS settlement1  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  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

 Current trading and outlook  Continued momentum in January across Wealth Management and Investment Banking We have seen positive inflows across each of our Wealth Management1 businesses in JanuarySignificant rebound in client activity levels across capital markets and trading, with Credit and Securitized Productsrevenues up over 100% year-on-year2, somewhat offset by lower trading volumes and volatility levels in EquitiesIBCM revenues up 90% year-on-year2 with broad based strength in Advisory, ECM and DCMWell positioned to capture profitable growth opportunities and benefit from improved market conditions  1 Relating to Wealth Management in SUB, IWM and APAC2 Month of January 2017 vs. 2016  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

 Detailed Financials 

     Adjusted    Results overview  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 7,309 5,119 10,518 22,337 25,895Pre-tax income/(loss) (2,203) 222 (6,441) (2,266) (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 (2,401) (306) (564) (2,707) (820) Net revenues 5,105 5,050 4,801 19,957 23,370 Provision for credit losses 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 2,123Net income/(loss) attributable to shareholders (2,619) 41 (5,828) (2,710) (2,944)Diluted Earnings/(loss) per share in CHF (1.25) 0.02 (3.28) (1.32) (1.73)Return on Tangible Equity1 n/m 0.4% n/m 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 Appendix1 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  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

     1 Business impact includes business moves and internally driven methodology and policy impact; methodology & policy reflects external methodology changes only2 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 1Q164 IWM excludes the impact of CHF (13) bn from the change in accounting treatment of collateralized loan obligations (CLOs) in 1Q16  Basel III RWA in CHF bn  290  268  4Q16 vs. 4Q15 Basel III RWA business impact2 in CHF bn  (33)  7  (28)  +9  Leverage exposure in CHF bn  4Q15  4Q16  FX impact& Other3    Business impact    (32)  (5)  4Q16 capital ratios impacted by DOJ settlement;continued reallocation of resources to growth areas  APAC +5  IWM +2  SUB +1  4Q16 vs. 4Q15 Leverage exposure business impact2 in CHF bn  SUB +12  APAC +9  IBCM +5  (63)  (5)  +6  +30  11.5%  11.4%  CET1 ratio  3.2%  3.3%  CET1 leverage ratio  4.4%  4.5%  Tier1 leverage ratio      4  Business impact1  FX impact  Methodology & policy1  (12)  (2)  IWM4 +4  4  IBCM +1  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

   End-2016 CET1 ratio at 11.5% and within target rangedespite negative impact from the DOJ settlement  4Q15 to 4Q16 CET1 ratio development  12%  11%  CET1 ratio targetthrough end-20161          2  1 Pre-significant litigation2 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  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

 Net cost savings of CHF 1.9 bn achieved in 2016,exceeding target for the year by CHF 0.5 bn  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix * See AppendixHeadcount includes permanent full-time equivalent employees, contractors, consultants and other contingent workers   Adjusted operating expenses at constant FX rates* in CHF bn  Achieved full year net savings of CHF 1.9 bn, exceeding target by CHF 0.5 bn, including net headcount reductions of more than 7,250By end-2017 we target to be below CHF 18.5 bn, including an incremental headcount reduction of more than 5,500 for the yearCommitted to delivering on our end-2018 target with cost base of below CHF 17.0 bn  Key messages            21.24  <19.8  19.38  <17.0  (1.86)    <18.5  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

 Swiss Universal Bank Strong full year performance with the fourth consecutive quarter of YoY PTI growth  Key messages  PB  Key metrics in CHF bn  Adjusted key financials in CHF mn    4Q16  3Q16  4Q15  2016  2015  Adj. net margin2 in bps  28  35  231  36  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    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  3,5911  o/w Corp. & Inst. Banking  541  507  5191  2,055  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%  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 Appendix1 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 † See Appendix  Pre-tax income up 13% compared to 4Q15; full year 2016 result2 improved 9% YoY with continued focus on cost disciplineImproved revenues from 3Q16; slightly down from 4Q15 which included an extraordinary dividend from our ownership in SIX GroupOperating expenses down 5% from 4Q15Credit provisions at low levels, reflecting the quality of our loan portfolioWealth Management Credit Suisse Invest continued driving mandates penetration of 30%, up 4 pp. vs. 4Q15Continued 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 BankingContinued strong result with improved revenue performance QoQ / YoY; good IB momentum in Switzerland reflected in a strong increase in revenues in 4Q16Total AuM of CHF 289 bn (up CHF 13 bn / 5% vs. full year 2015)  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

 International Wealth Management9% PTI growth in 2016 with higher revenues and record PB NNA  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 † See Appendix 1 Includes an extraordinary dividend from SIX Group of CHF 23 mn in 4Q15  Adjusted key financials in CHF mn    4Q16  3Q16  4Q15  2016  2015  Net revenues  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%  PB    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  Key messages  Strong finish to the year with an increase across major revenue components in 4Q16 vs. 3Q16Improved return on regulatory capital and cost/income ratio despite further investments in growth and in compliance & risk functionsWealth ManagementAuM 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 bnImproved gross margin by 3 bps to 110 bps in 2016Revenue increase in 2016; higher net interest income and improved client activity in 4Q16; recurring revenues stabilizedStable PTI with investments offsetting higher revenues; PTI up 15% vs. 4Q15 if excluding an extraordinary SIX dividend in 4Q15Asset ManagementPre-tax income up 54% vs. 2015Management fees increased by 2%; solid cost control with total expenses down 9% in 2016NNA of CHF 5.6 bn in 2016; negative NNA in 4Q16, mainly reflecting CHF 3.5 bn emerging market money market outflows  Key metrics in CHF bn  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

 PB  Adjusted key financials in CHF mn  Asia PacificContinued growth and record full year results in Wealth Management    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%    4Q16  3Q16  4Q15  2016  2015  Adj. net margin in bps  23  17  15  24  23  Net new assets  0.7  4.3  3.0  13.6  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  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 † See Appendix1 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  Key messages  Key metrics in CHF bn    4Q16  3Q16  4Q15  2016  2015  Pre-tax income  167  99  61  513  311  Pro-forma Wealth Management & connected activities1 in CHF mn  Execution  Profitable growth  Legacy  Detailed Financials  Capital  Record net revenues and pre-tax income in Wealth Management for the full year and 4Q16, with a revenue increase of 37% vs. 4Q15Continued positive NNA of CHF 0.7 bn in 4Q16 and CHF 13.6 bn in 2016, despite regularization outflows of CHF 1.4 bn in 4Q16 and CHF 2.5 bn in 2016Wealth 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. 4Q15Improved performance in Underwriting & Advisory vs. 4Q15 from increased client activity – #1 Rank2 in APAC ex-Japan amongst international banks for 2016Fixed 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 activityEquities 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 

 Key messages  Investment Banking & Capital MarketsIncreased PTI reflects improved share of wallet and strong performance in debt underwriting  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  4Q16Strong PTI driven by 4Q16 net revenues of USD 569 mn up 36% YoY, outperforming the StreetOperating expenses down 14% YoY on lower variable compensation and general and administrative expensesReturn 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 activityGlobal advisory and underwriting revenues1 up 32% YoY, outperforming the industry-wide fee pool which is up 1%20162016 net revenues were up 8% YoY on strong advisory and debt underwriting revenues, outperforming the Street2Operating expenses down 5%, reflecting cost discipline and self-funded growth investmentResults reflect continued execution of our strategy, evidenced by improved share of wallet2 across all key products for full year 2016Increased covered share of wallet2 across all client segments    4Q16  3Q16  4Q15  2016  2015  Risk-weighted assets  18  19  16  18  16  Leverage exposure  45  46  41  45  41  Adjusted key financials in USD mn    4Q16  3Q16  4Q15  2016  2015  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  Global advisory and underwriting revenues1  1,042  945  790  3,771  3,460  Global Advisory and Underwriting revenues1 in USD mn  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

 Key messages  Global MarketsGlobal Markets delivers profitability in a restructuring year    4Q16  3Q16  4Q15  2016  2015  Equities  441  330  531  1,861   2,388   o/w SMG  20  15  84  183  423  Credit  608  740  366  2,501   3,131  Solutions  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%  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 franchiseStrong results and leading market positions in credit products, securitized products and emerging markets vs. 4Q15 with outperformance in the AmericasHigher equities revenues in a seasonally slower quarter, up 34% vs. 3Q16, reflecting an increase in trading volumesYoY 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 2017Operating expenses declined 26% vs. 4Q15 reflecting lower compensation and benefits and other expenses 4Q16 annualized1 cost base exit rate below USD 5.2 bn2;on track to achieve 2018 ambition of < USD 4.8 bn in costsExpenses 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    4Q16  3Q16  4Q15  2016  2015  Risk-weighted assets  51  53  64  51  64  Leverage exposure  278  296  280  278  280  Key metrics in USD 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 Appendix1 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   Execution  Profitable growth  Legacy  Detailed Financials  Capital  Adjusted key financials in USD mn 

 Adjusted  Key messages  Strategic Resolution UnitContinued execution of our strategy – 4Q16 adjusted expenses down 58% YoY;leverage exposure and RWA down 39%  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix  Key financials in USD mn    4Q16  3Q16  4Q15  2016  2015  Net revenues  (201)  (170)  (125)  (1,283)  557  Provision for credit losses  28  6  99  115  138  Total operating expenses  287  351  688  1,584  2,677  Pre-tax loss  (516)  (527)  (912)  (2,982)  (2,258)              Real estate gains  (4)  -  -  (4)  -  Loss on business sales  1  -  -  6  -  Restructuring expenses  1  23  158  123  158  Major litigation expenses  2,322  324  258  2,646  295  Pre-tax loss reported  (2,836)  (874)  (1,328)  (5,753)  (2,711)    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  Key metrics in USD bn  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 productsReductions 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, respectivelyAdjusted 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 businesses4Q16 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  Execution  Profitable growth  Legacy  Detailed Financials  Capital 

 Summary  Executing with disciplineGrowing profitablyResolving key legacy issuesStrengthening our capital position  1  3  2  4 

 Appendix 

 Wealth Management businessesNet and gross margins  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  SUB PB Adj. net margin1 in bps  Adj. gross margin1 in bps  IWM PB Adj. net margin in bps  Adj. gross margin in bps  APAC PB Adj. net margin in bps  151  160  150  4Q15  2016  4Q16  Adj. gross margin in bps  Average AuM in CHF bn  55  376  351  Adj. pre-tax income1 in CHF mn  271  1,374  1,178  Adj. net revenues1 in CHF mn  3Q16  2015  4Q15  2016  4Q16  3Q16  2015  4Q15  2016  4Q16  3Q16  2015  4Q15  2016  4Q16  3Q16  2015  4Q15  2016  4Q16  3Q16  2015  4Q15  2016  4Q16  3Q16  2015  165  69  346  171  97  372  295  300  301  190  822  830  797  3,317  3,213  304  190  789  316  192  864  243  241  249  141  879  803  881  3,338  3,443  243  214  814  243  171  838 

 Swiss Universal BankPrivate Banking and Corporate & Institutional Banking  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 presentation1 Adjusted to exclude Swisscard net revenues and operating expenses in 2015 in SUB PB  Private Banking Adjusted key financials in CHF mn  C&IB Adjusted key financials in CHF mn  Key metrics in CHF bn  Key metrics in CHF bn    4Q16  3Q16  4Q15  2016  2015  Net interest income  291  278  288  1,083  987  Recurring commissions & fees  125  118  116  475  467  Transaction-based  139  124  128  548  593  Other revenues  (14)  (13)  (13)  (51)  (35)  Net revenues  541  507  519  2,055  2,012  Provision for credit losses  24  17  29  40  89  Total operating expenses  310  273  295  1,156  1,127  Pre-tax income  207  217  195  859  796  Cost/income ratio  57%  54%  57%  56%  56%    4Q16  3Q16  4Q15  2016  2015  Adj. net margin1 in bps  28  35  23  36  32  Net new assets  (3.5)  0.2  (2.9)  (1.7)  3.2  Assets under management   243  245  241  243  241  Mandates penetration  30%  29%  26%  30%  26%  Number of RM  1,490  1,500  1,570  1,490  1,570    4Q16  3Q16  4Q15  2016  2015  Net new assets  2.5  (1.2)  4.2  4.3  10.6  Assets under management   289  285  276  289  276  Number of RM  480  480  490  480  490    4Q16  3Q16  4Q15  2016  2015  Net interest income  454  446  465  1,801  1,770  Recurring commissions & fees  253  243  257  971  1,102  Transaction-based  131  125  159  564  720  Other revenues  -  -  -  2  (1)  Net revenues  838  814  881  3,338  3,591  Provision for credit losses  10  13  14  39  49  Total operating expenses  657  587  726  2,420  2,714  Pre-tax income  171  214  141  879  828  Pre-tax income ex Swisscard  171  214  141  879  803  Cost/income ratio  78%  72%  82%  72%  76% 

 International Wealth ManagementPrivate Banking and Asset Management  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in this presentation  Private Banking Adjusted key financials in CHF mn  Asset Management Adjusted key financials in CHF mn  Key metrics in CHF bn  Key metrics in CHF bn    4Q16  3Q16  4Q15  2016  2015  Net interest income  353  326  275  1,308  1,006  Recurring commissions & fees  277  267  283  1,093  1,161  Transaction- and perf.-based  235  197  240  922  1,049  Other revenues  (1)  (1)  (1)  (6)  (3)  Net revenues  864  789  797  3,317  3,213  Provision for credit losses  6  -  (7)  20  5  Total operating expenses  666  599  614  2,475  2,378  Pre-tax income  192  190  190  822  830  Cost/income ratio  77%  76%  77%  75%  74%    4Q16  3Q16  4Q15  2016  2015  Adj. net margin in bps  24  25  26  27  28  Net new assets  0.4  4.4  (4.2)  15.6  (3.0)  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    4Q16  3Q16  4Q15  2016  2015  Management fees  228  218  225  891  873  Performance & placement rev.  108  41  56  208  164  Investment & partnership inc.  45  33  84  228  291  Net revenues  381  292  365  1,327  1,328  Total operating expenses  273  241  326  1,040  1,142  Pre-tax income  108  51  39  287  186  Cost/income ratio  72%  83%  89%  78%  86%    4Q16  3Q16  4Q15  2016  2015  Net new assets  (4.4)  5.0  3.6  5.6  26.5  Assets under management  322  324  321  322  321 

 Asia PacificPrivate Banking and Investment Banking  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in this presentation  Private Banking Adjusted key financials in CHF mn  Investment Banking Adjusted key financials in USD mn  Key metrics in CHF bn    4Q16  3Q16  4Q15  2016  2015  Net interest income  166  159  131  602  445  Recurring commissions & fees  92  67  60  302  260  Transaction- and perf.-based  114  120  84  486  456  Other revenues  -  -  (4)  (16)  17  Net revenues  372  346  271  1,374  1,178  Provision for credit losses  9  38  (5)  32  18  Total operating expenses  266  239  221  966  809  Pre-tax income  97  69  55  376  351  Cost/income ratio  72%  69%  82%  70%  69%    4Q16  3Q16  4Q15  2016  2015  Adj. net margin in bps  23  17  15  24  23  Net new assets  0.7  4.3  3.0  13.6  17.8  Assets under management   167  168  150  167  150  Number of RM  640  650  580  640  580    4Q16  3Q16  4Q15  2016  2015  Fixed income sales & trading  71  152  140  647  636  Equity sales & trading  337  349  374  1,335  1,947  Underwriting & advisory  114  118  80  407  303  Other revenues  (35)  (32)  (42)  (130)  (113)  Net revenues  487  587  552  2,259  2,773  Provision for credit losses  2  (5)  8  (7)  17  Total operating expenses  459  483  454  1,851  1,924  Pre-tax income  26  109  90  415  832  Cost/income ratio  94%  82%  82%  82%  69% 

 Reconciliation of adjustment items (1/2)    IWM AM in CHF mn            GM in USD mn            IBCM in USD mn              4Q16  3Q16  4Q15  2016  2015    4Q16  3Q16  4Q15  2016  2015    4Q16  3Q16  4Q15  2016  2015    Net revenues reported  381  292  365  1,327  1,328    1,256  1,396  1,168  5,575  7,124    569  479  418  2,001  1,857    Fair value on own debt  -  -  -  -  -    -  -  -  -  -    -  -  -  -  -    Real estate gains  -  -  -  -  -    -  -  -  -  -    -  -  -  -  -    (Gains)/losses on business sales  -  -  -  -  -    -  -  -  -  -    -  -  -  -  -    Net revenues adjusted  381  292  365  1,327  1,328    1,256  1,396  1,168  5,575  7,124    569  479  418  2,001  1,857    Provision for credit losses  -  -  -  -  -    (3)  (6)  (4)  (4)  11    (1)  (9)  -  20  -    Total operating expenses reported  278  243  330  1,047  1,146    1,250  1,310  4,517  5,522  9,004    422  449  902  1,713  2,170    Goodwill impairment  -  -  -  -  -    -  -  (2,690)  -  (2,690)    -  -  (384)  -  (384)    Restructuring expenses  (5)  (2)  (4)  (7)  (4)    (14)  (52)  (97)  (220)  (97)    6  (16)  (22)  (29)  (22)    Major litigation provisions  -  -  -  -  -    -  (7)  (51)  (7)  (240)    -  -  -  -  -    Total operating expenses adjusted  273  241  326  1,040  1,142    1,236  1,251  1,679  5,295  5,977    428  433  496  1,684  1,764    Pre-tax income/(loss) reported  103  49  35  280  182    9  92  (3,345)  57  (1,891)    148  39  (484)  268  (313)    Total adjustments  5  2  4  7  4    14  59  2,838  227  3,027    (6)  16  406  29  406    Pre-tax income/(loss) adjusted  108  51  39  287  186    23  151  (507)  284  1,136    142  55  (78)  297  93    Adjusted 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.    CS Group in CHF mn            SRU in USD mn            Corp. Ctr. in CHF mn              4Q16  3Q16  4Q15  2016  2015    4Q16  3Q16  4Q15  2016  2015    4Q16  3Q16  4Q15  2016  2015    Net revenues reported  5,181  5,396  4,210  20,323  23,797    (198)  (170)  (125)  (1,285)  557    (16)  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  -    -  -  -  52  -    Net revenues adjusted  5,105  5,050  4,801  19,957  23,370    (201)  (170)  (125)  (1,283)  557    (16)  72  (51)  123  263    Provision for credit losses  75  55  133  252  324    28  6  99  115  138    -  -  (2)  (1)  (1)    Total operating expenses reported  7,309  5,119  10,518  22,337  25,895    2,610  698  1,104  4,353  3,130    262  279  307  759  862    Goodwill impairment  -  -  (3,797)  -  (3,797)    -  -  -  -  -    -  -  -  -  -    Restructuring expenses  (49)  (145)  (355)  (540)  (355)    (1)  (23)  (158)  (123)  (158)    (7)  -  -  (7)  -    Major litigation provisions  (2,401)  (306)  (564)  (2,707)  (820)    (2,322)  (324)  (258)  (2,646)  (295)    -  -  -  -  -    Total operating expenses adjusted  4,859  4,668  5,802  19,090  20,923    287  351  688  1,584  2,677    255  279  307  752  862    Pre-tax income/(loss) reported  (2,203)  222  (6,441)  (2,266)  (2,422)    (2,836)  (874)  (1,328)  (5,753)  (2,711)    (278)  (207)  (1,053)  (687)  (300)    Total adjustments  2,374  105  5,307  2,881  4,545    2,320  347  416  2,771  453    7  -  697  59  (298)    Pre-tax income/(loss) adjusted  171  327  (1,134)  615  2,123    (516)  (527)  (912)  (2,982)  (2,258)    (271)  (207)  (356)  (628)  (598)   

   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  4Q15  2016  2015    Net revenues reported  858  1,160  963  3,704  3,696    918  789  808  3,371  3,224    372  346  271  1,374  1,178    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  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)    (1)  (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    Net revenues reported  541  507  532  2,055  2,025    490  571  555  2,223  2,661    487  587  552  2,259  2,773    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  571  555  2,223  2,661    487  587  552  2,259  2,773    Provision for credit losses  24  17  29  40  89    2  (4)  8  (6)  17    2  (5)  8  (7)  17    Total operating expenses reported  329  276  304  1,184  1,136    481  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)  (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    Reconciliation of adjustment items (2/2)  Adjusted 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. 

 Swisscard deconsolidation impactImpact of the deconsolidation on the Swiss Universal Bank  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 † See AppendixThis 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    in CHF mn  2014  1Q15  2Q15  3Q15  4Q15  2015    2014  1Q15  2Q15  3Q15  4Q15  2015    2014  1Q15  2Q15  3Q15  4Q15  2015  Net interest income  2,377  611  685  708  753  2,757    36  9  9  -  -  18    2,341  602  676  708  753  2,739  Recurring commissions & fees  1,671  412  412  372  373  1,569    233  56  59  -  -  115    1,438  356  353  372  373  1,454  Transaction-based revenues  1,462  382  349  295  287  1,313    49  8  7  -  -  15    1,413  374  342  295  287  1,298  Other revenues  (36)  (5)  (7)  (11)  (13)  (36)    -  -  -  -  -  -    (36)  (5)  (7)  (11)  (13)  (36)  Net revenues  5,474  1,400  1,439  1,364  1,400  5,603    318  73  75  -  -  148    5,156  1,327  1,364  1,364  1,400  5,455  Provision for credit losses  94  23  33  39  43  138    5  -  -  -  -  -    89  23  33  39  43  138  Total operating expenses  3,794  934  961  925  1,021  3,841    239  61  62  -  -  123    3,555  873  899  925  1,021  3,718  Pre-tax income  1,586  443  445  400  336  1,624    74  12  13  -  -  25    1,512  431  432  400  336  1,599  Return on regulatory capital†  13%  14%  14%  13%  11%  13%    -  -  -  -  -  -    13%  14%  14%  13%  11%  13%  SUB adjusted  Swisscard impact1  SUB adjusted ex Swisscard 

 Currency mix & Group capital metrics  Currency mix capital metric4 ”look-through”  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        CHF  1 As reported 2 Total expenses include provisions for credit losses 3 Sensitivity analysis based on weighted average exchange rates of USD/CHF of 0.99 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)    Basel III Risk-weighted assets  Swiss leverage exposure        CHF  EUR  Other                USD      USD  CET1 capital 5  Contribution  Swiss Universal Bank    Net revenues 5,758 79% 12% 7% 1% 1%Total expenses2 3,734 89% 5% 3% 2% 2%    International Wealth Management    Net revenues 4,697 25% 41% 20% 3% 11%Total expenses2 3,576 46% 25% 12% 9% 9%  Net revenues 21,594 28% 43% 12% 2% 15%Total expenses2 18,100 33% 34% 5% 12% 16%  Asia Pacific  Net revenues 3,597 2% 45% 2% 1% 50%Total expenses2 2,872 7% 21% 1% 4% 68%      Global Markets  Net revenues 5,497 -% 61% 20% 4% 14%Total expenses2 5,449 2% 60% 4% 26% 9%      Investment Bank & Capital Markets    Net revenues 1,972 -% 91% 4% 3% 3%Total expenses2 1,710 2% 72% 5% 16% 5%    Credit Suisse Core results1  Core results      2016in CHF mn    CHF  USD  EUR  GBP  Other  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) mnEUR/CHF impact on 2016 pre-tax income by CHF + 172 / (172) mn  Sensitivity analysis on Core results3 

 Notes  Throughout the presentation rounding differences may occurAll 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” basisGross 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 AuMMandates penetration reflects advisory and discretionary mandates as percentage of total AuM, excluding AuM from the external asset manager (EAM) business  General notes  Adj. = Adjusted; AM = Asset Management; APAC = Asia Pacific; AuM = Assets under Management; bps = basis points; Corp. Ctr. = Corporate Center; C&IB = Corporate & Institutional Banking; DCM = Debt Capital Markets; DOJ = Department of Justice; EAM = External Asset Manager; ECM = Equity Capital Markets; GM = Global Markets; IB = Investment Banking; IBCM = 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 = Relationship Manager(s); RMBS = Residential Mortgage-Backed Securities; SMG = Systematic Market-Making Group; SRU = Strategic Resolution Unit; SUB = Swiss Universal Bank; UHNWI = Ultra High Net Worth Individuals; WM = Wealth Management; YoY = Year-on-year  Abbreviations  Specific notes  * “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, 2Q16: 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.