<SEC-DOCUMENT>0001370368-22-000102.txt : 20221125
<SEC-HEADER>0001370368-22-000102.hdr.sgml : 20221125
<ACCEPTANCE-DATETIME>20221125141235
ACCESSION NUMBER:		0001370368-22-000102
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20221125
FILED AS OF DATE:		20221125
DATE AS OF CHANGE:		20221125

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CREDIT SUISSE GROUP AG
		CENTRAL INDEX KEY:			0001159510
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15244
		FILM NUMBER:		221419740

	BUSINESS ADDRESS:	
		STREET 1:		PARADEPLATZ 8
		CITY:			ZURICH
		STATE:			V8
		ZIP:			8001
		BUSINESS PHONE:		1 919 994 1161

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 1
		CITY:			ZURICH
		STATE:			V8
		ZIP:			8070

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CREDIT SUISSE GROUP
		DATE OF NAME CHANGE:	20010921

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CREDIT SUISSE AG
		CENTRAL INDEX KEY:			0001053092
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33434
		FILM NUMBER:		221419741

	BUSINESS ADDRESS:	
		STREET 1:		PARADEPLATZ 8
		CITY:			ZURICH
		STATE:			V8
		ZIP:			8001
		BUSINESS PHONE:		01141 44 333 1111

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 1
		CITY:			ZURICH
		STATE:			V8
		ZIP:			8070

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CREDIT SUISSE / /FI
		DATE OF NAME CHANGE:	20050607

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CREDIT SUISSE FIRST BOSTON /                            /FI
		DATE OF NAME CHANGE:	19980115
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a221125-6k_prospectus.htm
<TEXT>
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  <div>&#160;</div>
  <div style="font-size: 12pt; font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">UNITED STATES</div>
  <div style="font-size: 12pt; font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">SECURITIES AND EXCHANGE COMMISSION</div>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Washington, D.C. 20549</div>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">______________</div>
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  <div style="font-size: 12pt; font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Form 6-K</div>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">______________</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16</div>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">UNDER THE SECURITIES EXCHANGE ACT OF 1934</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="display: inline;">November 25, 2022</font><br>
  </div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Commission File Number 001-15244</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="font-size: 18pt; font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">CREDIT SUISSE GROUP AG</div>
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  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(Translation of registrant&#8217;s name into English)</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Paradeplatz 8, 8001 Zurich, Switzerland</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(Address of principal executive office)</div>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">______________</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Commission File Number 001-33434</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="font-size: 18pt; font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">CREDIT SUISSE AG</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(Translation of registrant&#8217;s name into English)</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Paradeplatz 8, 8001 Zurich, Switzerland</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(Address of principal executive office)</div>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">______________</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
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  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
  <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
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            <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Form 20-F &#9746;</div>
          </td>
          <td valign="top" style="WIDTH: 40%">
            <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Form 40-F &#9744;</div>
          </td>
        </tr>

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  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Note</font>: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if
    submitted solely to provide an attached annual report to security holders.</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"><font style="FONT-WEIGHT: bold; DISPLAY: inline">Note: </font>Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if
    submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant&#8217;s &#8220;home
    country&#8221;), or under the rules of the home country exchange on which the registrant&#8217;s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant&#8217;s security
    holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.</div>
  <div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
  <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">
    <hr style="BORDER-TOP: black 1px solid; HEIGHT: 10px; BORDER-BOTTOM: black 4px solid; COLOR: #ffffff; TEXT-ALIGN: center; MARGIN-LEFT: auto; BACKGROUND-COLOR: #ffffff; MARGIN-RIGHT: auto"> </div>
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      <div><br>
      </div>
      <div style="text-align: left; margin-top: 3pt; margin-bottom: 3pt; color: #000000;">This report on Form 6-K is being filed by Credit Suisse Group AG and Credit Suisse AG and is hereby incorporated by reference into the Registration Statement on Form
        F-3 (file no. 333-238458) and the Registration Statements on Form S-8 (file nos. 333-101259, 333-208152, 333-217856 and 333-268336). Information referenced in this report via website links is not incorporated by reference into this report.</div>
      <div><br>
      </div>
      <div><br>
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      <div>
        <div style="text-align: left; margin-bottom: 6pt;">November 24, 2022</div>
        <div style="margin-bottom: 6pt; font-size: 12pt; font-weight: bold;">Credit Suisse Group AG</div>
        <div style="margin-bottom: 15pt;">(incorporated with limited liability in Switzerland)</div>
        <div style="font-style: italic;">The following information was released outside the United States by Credit Suisse Group AG</div>
        <div><br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> This document does not constitute an offer or invitation to subscribe for or to purchase any securities in the United States of America. The securities referred to herein
          have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the &#8220;<font style="font-weight: bold;">Securities Act</font>&#8221;) or the laws of any U.S. state and may not be offered or sold in the United States of America
          absent registration or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States of America.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">This document is not an offer to sell or a solicitation of offers to purchase or subscribe for securities of Credit Suisse Group AG. This document may qualify as an
          advertisement under the Swiss Federal Act on Financial Services (&#8220;<font style="font-weight: bold;">FinSA</font>&#8221;) but is not a prospectus nor a key information document pursuant to the FinSA, nor does it qualify as a prospectus under any other
          applicable laws. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein shall not constitute an offer to sell or the
          solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction.</div>
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        <!--PROfilePageNumberReset%LCR%2%%%-->
        <div style="margin-bottom: 10pt; font-weight: bold;">TABLE OF CONTENTS</div>
        <div>
          <div><br>
          </div>
          <br>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zdb1d87820dc149beb810dc904fcbcf4d">

              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#anch1">PRESENTATION OF FINANCIAL AND OTHER INFORMATION</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">iii</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#anch2">FORWARD&#8209;LOOKING STATEMENTS</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">v</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#anch3">RISK FACTORS</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">1</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#REASONSFORTHEOFFERINGANDU">REASONS FOR THE OFFERING AND USE OF PROCEEDS</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">21</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#DIVIDENDSANDOTHERDISTRIBU">DIVIDENDS AND OTHER DISTRIBUTIONS</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">22</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#CAPITALIZATIONANDINDEBTED">CAPITALIZATION AND INDEBTEDNESS</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">24</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#CREDITSUISSE">CREDIT SUISSE</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">25</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#LITIGATION">LITIGATION</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">29</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#EMPLOYEEPARTICIPATIONINCS">EMPLOYEE PARTICIPATION IN CSG</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">30</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#PATENTSLICENSESORFINANCIN">PATENTS, LICENSES OR FINANCING CONTRACTS</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">31</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#PRINCIPALESTABLISHMENTS">PRINCIPAL ESTABLISHMENTS</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">32</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#CERTAINCORPORATEGOVERNANC">CERTAIN CORPORATE GOVERNANCE ITEMS</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">33</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#EMPLOYEES">EMPLOYEES</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">34</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#REGULATIONANDSUPERVISION">REGULATION AND SUPERVISION</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">35</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#BOARDOFDIRECTORSANDEXECUT">BOARD OF DIRECTORS AND EXECUTIVE MANAGEMENT</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">36</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#BANKINGRELATIONSHIPSWITHB">BANKING RELATIONSHIPS WITH BOARD AND EXECUTIVE BOARD MEMBERS</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">62</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#SHAREHOLDERS">SHAREHOLDERS</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">63</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#DESCRIPTIONOFCSGSSHARECAP">DESCRIPTION OF CSG&#8217;S SHARE CAPITAL AND THE SHARES</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">65</div>
                </td>
              </tr>
              <tr>
                <td style="height: 30px; vertical-align: top; width: 88.05%;">
                  <div style="color: #000000;"><a href="#THESIXSWISSEXCHANGE">THE SIX SWISS EXCHANGE</a></div>
                </td>
                <td style="height: 30px; vertical-align: top; width: 11.95%;">
                  <div style="text-align: right; color: #000000;">77</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
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        <br>
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        <div style="margin-bottom: 10pt; font-weight: bold;"><a name="anch1"><!--Anchor--></a>PRESENTATION OF FINANCIAL AND OTHER INFORMATION</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In this document, &#8220;<font style="font-weight: bold;">CSG</font>&#8221; refers to Credit Suisse Group AG and &#8220;<font style="font-weight: bold;">we</font>,&#8221; &#8220;<font style="font-weight: bold;">us</font>,&#8221; &#8220;<font style="font-weight: bold;">our</font>,&#8221; the &#8220;<font style="font-weight: bold;">Group</font>&#8221; or &#8220;<font style="font-weight: bold;">Credit Suisse</font>&#8221; refer to CSG together with its consolidated subsidiaries. All
          references in this document to &#8220;<font style="font-weight: bold;">U.S. dollars</font>&#8221; and &#8220;<font style="font-weight: bold;">USD</font>&#8221; refer to United States dollars and to &#8220;<font style="font-weight: bold;">CHF</font>&#8221; refer to Swiss francs and
          to <font style="font-weight: bold;">euro</font>&#8221; and &#8220;<font style="font-weight: bold;">EUR</font>&#8221; refer to the currency introduced at the start of the third stage of European Economic and Monetary Union pursuant to the Treaty on the Functioning
          of the European Union, as amended.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Unless otherwise indicated or the context otherwise requires, the following definitions apply throughout this document:</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#8220;<font style="font-weight: bold;">2020&#160;Annual Report</font>&#8221; means Credit Suisse Group AG and Credit Suisse AG Annual Report 2020;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#8220;<font style="font-weight: bold;">2021&#160;Annual Report</font>&#8221;<font style="font-weight: bold;">&#160;</font>means the Credit Suisse Group AG and Credit Suisse AG Annual Report 2021;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#8220;<font style="font-weight: bold;">2022 Quarterly Reports</font>&#8221; means the First Quarter 2022 Report, the Second Quarter 2022 Report and the Third Quarter 2022 Report;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#8220;<font style="font-weight: bold;">First Quarter 2022 Report</font>&#8221; means Credit Suisse Financial Report 1Q22;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#8220;<font style="font-weight: bold;">Form 6-K dated November&#160;15, 2022</font>&#8221;<font style="font-weight: bold;">&#160;</font>means the Form 6-K of CSG and Credit Suisse AG filed by CSG
          with the U.S. Securities and Exchange Commission (the &#8220;<font style="font-weight: bold;">SEC</font>&#8221;) on November&#160;15, 2022, which contains the media release entitled &#8220;Credit Suisse accelerates radical restructuring of Investment Bank; Enters into
          definitive transaction agreements to sell a significant part of its Securitized Products Group to Apollo;&#8221;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#8220;<font style="font-weight: bold;">Form 6-K dated November&#160;23, 2022</font>&#8221;<font style="font-weight: bold;">&#160;</font>means the Form 6-K of CSG and Credit Suisse AG filed by CSG
          with the SEC on November 23, 2022, which contains the media release entitled &#8220;Credit Suisse provides market with updated outlook for the fourth quarter of 2022;&#8221;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#8220;<font style="font-weight: bold;">Non-Preemptive Shares</font>&#8221; means 462,041,884 Shares sold by CSG pursuant to the certain purchase and subscription agreements (the &#8220;<font style="font-weight: bold;">Purchase and Subscription Agreements</font>&#8221;) to a number of qualified investors (&#8220;<font style="font-weight: bold;">Private Investors</font>&#8221;);</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#8220;<font style="font-weight: bold;">Offering</font>&#8221; means the previously announced offering of 889,368,458 new registered shares of CSG with a nominal value of CHF 0.04 each
          (the &#8220;<font style="font-weight: bold;">Offered Shares</font>&#8221;), to be issued by CSG in an ordinary share capital increase against cash contributions approved by CSG&#8217;s shareholders at the extraordinary general meeting held on November 23, 2022;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#160;&#8220;<font style="font-weight: bold;">Rights Offering</font>&#8221; is the previously announced rights offering in which the holders of existing shares of CSG (including
          Non-Preemptive Shares) will receive pre-emptive rights (Bezugsrechte) (&#8220;<font style="font-weight: bold;">Rights</font>&#8221;) to subscribe for the Offered Shares on a pro rata basis, subject to certain limitations based on applicable laws and
          regulations;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#8220;<font style="font-weight: bold;">Rump Shares</font>&#8221; means the Shares underwritten by a banking syndicate in connection with the Offering with respect to which Rights have
          not been validly exercised;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#8220;<font style="font-weight: bold;">Second Quarter 2022 Report</font>&#8221; means<font style="font-weight: bold;">&#160;</font>the<font style="font-weight: bold;">&#160;</font>Credit Suisse
          Financial Report 2Q22;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#8220;<font style="font-weight: bold;">Shares</font>&#8221; are all registered shares of CSG, including the Offered Shares;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">&#8220;<font style="font-weight: bold;">Third Quarter 2022 Report</font>&#8221;<font style="font-weight: bold;">&#160;</font>means the Credit Suisse Financial Report 3Q22.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt; font-weight: bold;">Performance Measures</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Credit Suisse measures firm-wide returns against total shareholders&#8217; equity and tangible shareholders&#8217; equity, a non-GAAP financial measure also known as tangible book value.
          Tangible shareholders&#8217; equity is calculated by deducting goodwill and other intangible assets from total shareholders&#8217; equity as presented in our balance sheet. In addition, Credit Suisse also measures the efficiency of the Group and its
          divisions with regard to the usage of regulatory capital. Regulatory capital is calculated as the average of 13.5% of risk-weighted assets (&#8220;<font style="font-weight: bold;">RWA</font>&#8221;) and 4.25% of leverage exposure and return on regulatory
          capital, a non-GAAP financial measure, is calculated using income/(loss) after tax and assumes a tax rate of 30% for periods prior to 2020 and 25% from 2020 onward. For the Investment Bank, return on regulatory capital is based on U.S.
          dollar-denominated numbers. Return on regulatory capital excluding certain items included in our reported results is calculated using results excluding</div>
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        <div style="text-align: justify; margin-bottom: 10pt;">such items, applying the same methodology. Adjusted return on regulatory capital excluding certain items included in our reported results is calculated using results excluding such items,
          applying the same methodology.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Group&#8217;s economic profit is a non-GAAP financial measure, calculated using income/(loss) before tax applying a 25% tax rate less a capital charge. The capital charge is
          calculated based on the sum of (i)&#160;a cost of capital applied to the average regulatory capital of each of the Group&#8217;s four divisions; and (ii)&#160;a 10% cost of capital applied to the residual of the Group&#8217;s average tangible equity less the sum of
          the regulatory capital of the Group&#8217;s four divisions. The applied cost of capital for the Group&#8217;s divisions is 8% for Wealth Management, the Swiss Bank and Asset Management and 12% for the Investment Bank. Adjusted economic profit excluding
          certain items included in our reported results is calculated using results excluding such items, applying the same methodology.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Management believes that these metrics are meaningful as they are measures used and relied upon by industry analysts and investors to assess valuations and capital adequacy.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt; font-weight: bold;">Unaudited Interim Financial Information for Fourth Quarter of 2022</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">This document contains certain unaudited interim financial information for the fourth quarter of 2022 (&#8220;<font style="font-weight: bold;">4Q22</font>&#8221;). This information has
          been derived from management accounts, is preliminary in nature, does not reflect the complete results of 4Q22 and is subject to change, including as a result of any normal quarterly adjustments in relation to the financial statements.
          PricewaterhouseCoopers AG (&#8220;<font style="font-weight: bold;">PwC</font>&#8221;) has not audited, reviewed, examined, compiled or applied agreed-upon procedures with respect to the information for 4Q22 and, accordingly, does not express an opinion or
          any other form of assurance with respect thereto. 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 4Q22
          will be included in the Group&#8217;s 4Q22 Earnings Release. These interim results of operations are not necessarily indicative of the results to be achieved for the remainder of or the full 4Q22. See also &#8220;<font style="font-style: italic;">Forward
            Looking Statements</font>.&#8221;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt; font-weight: bold;">Targets and Outlook Statements</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">PwC has not audited, reviewed, examined, compiled or applied agreed-upon procedures with respect to the information on targets or outlook statements set forth in this
          document and, accordingly, does not express an opinion or any other form of assurance with respect thereto. For information on risks and uncertainties with respect to forward-looking statements generally, see &#8220;<font style="font-style: italic;">Forward


            Looking Statements</font>.&#8221;</div>
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        <div style="margin-bottom: 10pt; font-weight: bold;"><a name="anch2"><!--Anchor--></a>FORWARD&#8209;LOOKING STATEMENTS</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">This document contains statements that constitute forward&#8209;looking statements. In addition, in the future we, and others on our behalf, may make statements that constitute
          forward&#8209;looking statements. Such forward&#8209;looking statements may include, without limitation, statements relating to the following:</div>
        <div>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                  <div style="text-align: justify;">our plans, targets or goals;</div>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                  <div style="text-align: justify;">our future economic performance or prospects;</div>
                </td>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                  <div style="text-align: justify;">the potential effect on our future performance of certain contingencies; and</div>
                </td>
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                  <div style="text-align: justify;">assumptions underlying any such statements.</div>
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        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> <br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Words such as &#8220;believes,&#8221; &#8220;anticipates,&#8221; &#8220;expects,&#8221; &#8220;intends&#8221; and &#8220;plans&#8221; and similar expressions are intended to identify forward-looking statements but are not the
          exclusive means of identifying such statements. We do not intend to update these forward-looking statements, except as may be required by applicable securities laws.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections
          and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, targets, goals, expectations, estimates and
          intentions expressed in such forward-looking statements. These factors include, but are not limited to:</div>
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                  <div style="text-align: justify;">the ability to maintain sufficient liquidity and access capital markets;</div>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                  <div style="text-align: justify;">market volatility, increases in inflation and interest rate fluctuations or developments affecting interest rate levels;</div>
                </td>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                  <div style="text-align: justify;">the ongoing significant negative consequences, including reputational harm, of the Archegos (as defined below) and supply chain finance funds matters, as well as other recent events, and our ability to
                    successfully resolve these matters;</div>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                  <div style="text-align: justify;">the impact of social media speculation and unsubstantiated media reports about our business and its performance;</div>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                  <div style="text-align: justify;">the extent of outflows of assets or future net new asset generation across our divisions;</div>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">our ability to improve our risk management procedures and policies and hedging strategies;</div>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                  <div style="text-align: justify;">the strength of the global economy in general and the strength of the economies of the countries in which we conduct our operations, in particular, but not limited to, the risk of negative impacts of
                    COVID-19 on the global economy and financial markets, Russia&#8217;s invasion of Ukraine, the resulting sanctions from the U.S., the European Union (the &#8220;<font style="font-weight: bold;">EU</font>&#8221;), the UK, Switzerland and other countries
                    and the risk of continued slow economic recovery or downturn in the EU, the U.S. or other developed countries or in emerging markets in 2022 and beyond;</div>
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        </div>
        <div>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                  <div style="text-align: justify;">the emergence of widespread health emergencies, infectious diseases or pandemics, such as COVID-19, and the actions that may be taken by governmental authorities to contain the outbreak or to counter its
                    impact;</div>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                  <div style="text-align: justify;">potential risks and uncertainties relating to the severity of impacts from COVID-19 and the duration of the pandemic, including potential material adverse effects on our business, financial condition and
                    results of operations;</div>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                  <div style="text-align: justify;">the direct and indirect impacts of deterioration or slow recovery in residential and commercial real estate markets;</div>
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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
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                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">adverse rating actions by credit rating agencies in respect of us, sovereign issuers, structured credit products or other credit related exposures;</div>
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                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the ability to achieve our strategic initiatives, including those related to our targets, ambitions and goals, such as our financial ambitions as well as various goals and commitments to incorporate
                    certain environmental, social and governance considerations into our business strategy, products, services and risk management processes;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8ef7f4b5174d44f6b69ef768690ffe95">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">our ability to achieve our announced comprehensive new strategic direction for the Group and significant changes to its structure and organization;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2b3e3cc6651d460eb36c5a305f7bf31b">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">our ability to successfully implement the divestment of any non-core business;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z219651704f6d4e73bde6801e16e082e5">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the future level of any impairments and write-downs, including from the revaluation of deferred tax assets, resulting from disposals and the implementation of the proposed strategic initiatives;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6896ced77cce450995097e22c023d9cc">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the ability of counterparties to meet their obligations to us and the adequacy of our allowance for credit losses;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd50b7fb9d6af493c877925ceb7105607">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the effects of, and changes in, fiscal, monetary, exchange rate, trade and tax policies;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z149895ca577146c68d3d346e56933bba">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the effects of currency fluctuations, including the related impact on our business, financial condition and results of operations due to moves in foreign exchange rates;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfa2a5856c9ec470ebb3879720dc4fa07">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">geopolitical and diplomatic tensions, instabilities and conflicts, including war, civil unrest, terrorist activity, sanctions or other geopolitical events or escalations of hostilities, such as Russia&#8217;s
                    invasion of Ukraine;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za42dec1cf9284e27948ce8b42ee61dfb">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">political, social and environmental developments, including climate change;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4676b4e5a9c84769b20990f5109c3410">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the ability to appropriately address social, environmental and sustainability concerns that may arise from our business activities;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1ffa73e094fb414580af20a341369b73">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the effects of, and the uncertainty arising from, the UK&#8217;s withdrawal from the EU;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z297d6786d30b4058a165bc984827f044">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the possibility of foreign exchange controls, expropriation, nationalization or confiscation of assets in countries in which we conduct our operations;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfbe62e00818f495dad037c0a5e1a81df">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">operational factors such as systems failure, human error, or the failure to implement procedures properly;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb1e48f5ebc84406e86e8a7a2217ace10">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the risk of cyber attacks, information or security breaches or technology failures on our reputation, business or operations, the risk of which is increased while large portions of our employees work
                    remotely;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbf5b006e23f24b0089363ad8b29a6c06">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the adverse resolution of litigation, regulatory proceedings and other contingencies;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z67ed31ebbd76469f95b15e4bfb5900a6">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">actions taken by regulators with respect to our business and practices and possible resulting changes to our business organization, practices and policies in countries in which we conduct our operations;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za74284a6178c4da19591403064754878">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the effects of changes in laws, regulations or accounting or tax standards, policies or practices in countries in which we conduct our operations;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z032d5fdab2004e60b2c7ef5e048cfa86">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the discontinuation of the London Interbank Offered Rate (&#8220;<font style="font-weight: bold;">LIBOR</font>&#8221;) and other interbank offered rates (&#8220;<font style="font-weight: bold;">IBORs</font>&#8221;) and the
                    transition to alternative reference rates;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z73e1890fe286452aba197b9b6787c42d">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the potential effects of changes in our legal entity structure;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd8cb4363aeda4a2e992a3f6bf2d80463">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">competition or changes in our competitive position in geographic and business areas in which we conduct our operations;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9b65d05a8eea439d9816d214e509e054">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the ability to retain and recruit qualified personnel;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z867b228fd5054b25b59974eaaab058d9">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the ability to protect our reputation and promote our brand;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z08607fc4c9e545c8873bd1cc3df69dfd">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the ability to increase market share and control expenses;</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">vi</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div class="BRPFPageHeader">
            <div><br>
            </div>
          </div>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3bede395a2d74f7d86248a5724293890">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;"><br>
                </td>
                <td style="width: auto; vertical-align: top;"><br>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6c9a1c22f5e84e44888242c72dca514a">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">technological changes instituted by us, our counterparties or competitors;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7033728e008342cfb7fb5b238b83d716">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z602a33cc0e0047948bf36c0375669601">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">acquisitions, including the ability to integrate acquired businesses successfully, and divestitures, including the ability to sell non-core assets; and</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8504c5c62c7d492a986563e80632211a">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">other unforeseen or unexpected events and our success at managing these and the risks involved in the foregoing.</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> <br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">We caution you that the foregoing list of important factors is not exclusive. When evaluating forward&#8209;looking statements, you should carefully consider the foregoing factors
          and other uncertainties and events, as well as the risk factors and other information contained in this document.</div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">vii</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div class="BRPFPageHeader">
            <div><br>
            </div>
          </div>
        </div>
        <!--PROfilePageNumberReset%Num%1%%%-->
        <div style="margin-bottom: 10pt; font-weight: bold;"><a name="anch3"><!--Anchor--></a>RISK FACTORS</div>
        <div style="text-align: justify; margin-bottom: 10pt; font-style: italic;">The risks described below may not be the only risks to which we and/or the shareholders are exposed. The additional risks not presently known or currently deemed immaterial
          may also impair our business, results of operations and financial condition. The realization of one or more of these risks could individually or together with other circumstances adversely affect our business, results of operations and financial
          condition. In addition, each of the risks set out below could adversely affect the trading price of the Shares and you may lose part or all of your investment. This document also contains forward looking statements that involve risks and
          uncertainties. Our actual results could differ materially from those anticipated in such forward looking statements as a result of certain factors, including the risks we face that are described below and elsewhere in this document. The selected
          sequence of the risk factors mentioned below represents neither a statement about the probability of the risks&#8217; realization nor an assessment of the extent of the economic effects or the importance of the risks.</div>
        <div style="margin-bottom: 10pt; font-weight: bold;">RISKS RELATING TO CSG</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">LIQUIDITY RISK</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Liquidity, or ready access to funds, is essential to our business, particularly our investment banking businesses. We seek to maintain available liquidity to meet our
          obligations in a stressed liquidity environment. For information on our liquidity management, refer to &#8220;<font style="font-style: italic;">Liquidity and funding management</font>&#8221; in &#8220;<font style="font-style: italic;">III&#8212;Treasury, Risk, Balance
            sheet and Off-balance sheet</font>&#8221; in the 2021 Annual Report and in &#8220;<font style="font-style: italic;">II&#8212;Treasury, risk, balance sheet and off-balance sheet</font>&#8221; in each of the 2022 Quarterly Reports. For further information on recent
          developments, refer to &#8220;<font style="font-style: italic;">Liquidity issues in October 2022 and credit ratings downgrades</font>&#8221; and &#8220;<font style="font-style: italic;">Outflows in assets under management in October 2022</font>&#8221; in &#8220;<font style="font-style: italic;">I&#8212;Credit Suisse results&#8212;Credit Suisse&#8212;Other information</font>&#8221; in the Third Quarter 2022 Report.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Our liquidity could be impaired if we were unable to access the capital markets, sell our assets or if our liquidity costs increase.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Our ability to borrow on a secured or unsecured basis and the cost of doing so can be affected by increases in interest rates or credit spreads, the availability of credit,
          regulatory requirements relating to liquidity, including the possible amendments to the Swiss liquidity ordinance to increase the regulatory minimum liquidity requirements for systemically important banks, or the market perceptions of risk
          relating to us, certain of our counterparties or the banking sector as a whole, including our perceived or actual creditworthiness. An inability to obtain financing in the unsecured long-term or short-term debt capital markets, or to access the
          secured lending markets, could have a substantial adverse effect on our liquidity. In challenging credit markets our funding costs may increase or we may be unable to raise funds to support or expand our businesses, adversely affecting our
          results of operations. Following the financial crisis in 2008 and 2009, our costs of liquidity have been significant, and we expect to incur ongoing costs as a result of regulatory requirements for increased liquidity. For further information,
          refer to &#8220;<font style="font-style: italic;">Regulatory developments</font>&#8221; in &#8220;<font style="font-style: italic;">III&#8212;Treasury, Risk, Balance sheet and Off-balance sheet&#8212;Liquidity and funding management</font>&#8221; in the 2021 Annual Report and in &#8220;<font style="font-style: italic;">II&#8212;Treasury, risk, balance sheet and off-balance sheet&#8212;Liquidity and funding management</font>&#8221; in each of the 2022 Quarterly Reports.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">If we are unable to raise needed funds in the capital markets (including through offerings of equity, regulatory capital securities and other debt), we may need to liquidate
          unencumbered assets to meet our liabilities. In a time of reduced liquidity, we may be unable to sell some of our assets, or we may need to sell assets at depressed prices, which in either case could adversely affect our results of operations and
          financial condition.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Our businesses rely significantly on our deposit base for funding.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Our businesses benefit from short-term funding sources, including primarily demand deposits, inter-bank loans, time deposits and cash bonds. Although deposits have been, over
          time, a stable source of funding, this may not continue. In that case, our liquidity position could be adversely affected, and we might be unable to meet deposit withdrawals on demand, or at their contractual maturity, to repay borrowings as they
          mature or to fund new loans, investments and businesses.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Changes in our ratings may adversely affect our business.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Ratings are assigned by rating agencies. Rating agencies may lower, indicate their intention to lower or withdraw their ratings at any time. The major rating agencies remain
          focused on the financial services industry,</div>
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        <div style="text-align: justify; margin-bottom: 12pt;">particularly regarding potential declines in profitability, asset quality deterioration, asset price volatility, risk and governance controls, the impact from any potential easing or
          enhancement of regulatory requirements and challenges from increased costs related to compliance and litigation. In July 2021, Moody&#8217;s Investors Service Ltd (&#8220;<font style="font-weight: bold;">Moody&#8217;s</font>&#8221;) lowered its long-term senior
          unsecured debt and deposit ratings of Credit Suisse AG by one notch. In May 2022, S&amp;P Global Ratings Europe Limited (&#8220;<font style="font-weight: bold;">S&amp;P</font>&#8221;) lowered its long-term issuer credit ratings, and Fitch Ratings Limited (&#8220;<font style="font-weight: bold;">Fitch</font>&#8221;) lowered its long-term issuer default ratings of Credit Suisse AG and CSG by one notch. In August 2022, Moody&#8217;s lowered its long-term senior unsecured debt and deposit ratings of Credit Suisse AG and its
          senior unsecured debt ratings of CSG by one notch, and Fitch lowered its long-term issuer default rating of Credit Suisse AG and CSG by one notch. On November&#160;1, 2022, Moody&#8217;s downgraded the long-term senior unsecured debt and deposit ratings of
          Credit Suisse AG by one notch, and also downgraded all the short-term ratings by one notch and maintained the &#8220;negative&#8221; outlook on all ratings. S&amp;P downgraded the long-term issuer credit ratings of CSG and the long- and short-term issuer
          credit ratings of Credit Suisse AG, in each case by one notch on November&#160;1, 2022. The outlook on these ratings has been revised from &#8220;negative&#8221; to &#8220;stable.&#8221; Any downgrades in our ratings could increase our borrowing costs, limit our access to
          capital markets, increase our cost of capital and adversely affect the ability of our businesses to sell or market their products, engage in business transactions, particularly financing and derivatives transactions, and retain our clients. For
          further information regarding the recent downgrades, refer to &#8220;<font style="font-style: italic;">Liquidity issues in October 2022 and credit ratings downgrades</font>&#8221; in &#8220;<font style="font-style: italic;">I&#8212;Credit Suisse results&#8212;Credit
            Suisse&#8212;Other information</font>&#8221; in the Third Quarter 2022 Report.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">ARCHEGOS AND SCFF-RELATED RISKS</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Significant negative consequences of the Archegos and supply chain finance funds matters.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-top: 9pt; margin-bottom: 12pt;">As previously reported, we incurred a net charge of CHF&#160;4.8 billion in 2021 in respect of the U.S.-based hedge fund matter described on page&#160;302 of the 2021
          Annual Report (&#8220;<font style="font-weight: bold;">Archegos</font>&#8221;). We also previously reported that it is reasonably possible that we will incur a loss in respect of the Supply Chain Finance Funds (&#8220;<font style="font-weight: bold;">SCFF</font>&#8221;)
          matter, though it is not yet possible to estimate the size of such a reasonably possible loss. However, the ultimate cost of resolving the SCFF matter may be material to our operating results. In addition, we have suffered and may continue to
          suffer reputational harm and reductions in certain areas of our business, attributable, at least in part, to these matters.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-top: 9pt; margin-bottom: 12pt;">A number of regulatory and other inquiries, investigations and actions have been initiated or are being considered in respect of each of these matters,
          including enforcement actions by the Swiss Financial Market Supervisory Authority FINMA (&#8220;<font style="font-weight: bold;">FINMA</font>&#8221;). FINMA has also imposed certain risk-reducing measures and capital surcharges discussed in the 2021 Annual
          Report. Third parties appointed by FINMA are conducting investigations into these matters. The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) is also reviewing the SCFF matter through a third party. Furthermore, we are subject
          to various litigation claims in respect of these matters and we may become subject to additional litigation, disputes or other actions. For further information, refer to &#8220;<font style="font-style: italic;">Note 40&#8212;Litigation</font>&#8221; in &#8220;<font style="font-style: italic;">VI&#8212;Consolidated financial statements&#8212;Credit Suisse Group</font>&#8221; in the 2021 Annual Report.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-top: 9pt; margin-bottom: 12pt;">The Board of Directors of CSG (the &#8220;<font style="font-weight: bold;">Board</font>&#8221;) launched investigations into both of these matters, which not only
          focused on the direct issues arising from each of them, but also reflected on the broader consequences and lessons learned. We also established Asset Management as a separate division of the Group, undertook various senior management changes in
          response to these matters and previously granted compensation awards were recovered from certain individuals through malus and clawback provisions. On July&#160;29, 2021, we published the report based on the independent external investigation into
          Archegos, which found, among other things, a failure to effectively manage risk in the Investment Bank&#8217;s prime services business by both the first and second lines of defense as well as a lack of risk escalation. On February&#160;10, 2022, we
          announced that the separate report related to the SCFF matter has been completed and that the findings have been made available to the Board and the report was shared with FINMA.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-top: 9pt; margin-bottom: 12pt;">The combined effect of these two matters, including the material loss incurred in respect of Archegos, may have other material adverse consequences for us,
          including negative effects on our business and operating results from actions that we have taken and may be required or decide to take in the future in response to these matters. Among these actions are CSG&#8217;s decision to reduce its 2020 dividend
          proposal, suspend its share buyback program, deleverage certain businesses and clients of the Group and reduce leverage exposure and RWA in the Investment Bank. Furthermore, as part of our strategic review announced on October&#160;27, 2022, we are in
          the process of making significant changes to the Group&#8217;s structure and organization, including establishing a more capital-light Investment Bank, divesting non-core businesses and accelerating cost reduction. In addition, we have</div>
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        <div style="margin: 9pt 0px 12pt; text-align: justify; text-indent: 0px;">been required by FINMA to take certain capital and related actions, including a temporary add-on to RWA in the first quarter of 2021 in relation to our exposure in the
          Archegos matter and a Pillar 2 capital add-on relating to the SCFF matter. There could also be additional capital and related actions, including an add-on to RWA relating to operational risk. There can be no assurance that measures instituted to
          manage related risks will be effective in all instances. Such actions have caused and may continue to cause loss of revenues and assets under management, as well as a material adverse effect on our ability to attract and retain customers,
          clients, investors and employees and to conduct business transactions with our counterparties.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Several of the processes discussed above are still ongoing, including the process of seeking to recover amounts in respect of the SCFF matter. In addition, the Board
          conducted a review of the Group&#8217;s business strategy and risk appetite. The changes resulting from the implementation of our strategic initiatives will entail the incurrence of certain costs and charges, such as the ones we have previously
          reported. There can be no assurance that any additional losses, damages, costs and expenses, as well as any further regulatory and other investigations and actions or any downgrade of our credit ratings, will not be material to us, including from
          any impact on our business, financial condition, results of operations, prospects, liquidity, capital position or reputation. For example, we have suffered and may continue to suffer reputational harm and reductions in certain areas of our
          business, such as outflows of assets and a slowdown in net new asset generation across our divisions, attributable, at least in part, to these matters. The ongoing effect of these matters, and this harm and these reductions, can continue to
          affect our business overall, including our ability to attract and retain customers, clients, investors and employees and to conduct business transactions with our counterparties. While steps we have taken in response to the Archegos and SCFF
          matters are designed to reduce the Group&#8217;s risks, some of these changes will constrain certain areas of our business, thereby impacting negatively our results of operations. These challenges are taking place in the context of worsening
          macroeconomic and market conditions, potentially amplifying some of the negative consequences noted above. The foregoing challenges may also make it more difficult to implement our just-announced new strategic initiatives, as well as achievement
          of the targets and objectives associated with those initiatives. For further information, refer to &#8220;<font style="font-style: italic;">Archegos Capital Management</font>&#8221; in &#8220;<font style="font-style: italic;">II&#8212;Operating and financial
            review&#8212;Credit Suisse&#8212;Significant events in 2021</font>,&#8221; &#8220;<font style="font-style: italic;">Key risk developments&#8212;Archegos and supply chain finance fund matters</font>&#8221; in &#8220;<font style="font-style: italic;">III&#8212;Treasury, Risk, Balance sheet and
            Off-balance sheet&#8212;Risk management</font>&#8221; and &#8220;<font style="font-style: italic;">Regulatory developments</font>&#8221; in &#8220;<font style="font-style: italic;">III&#8212;Treasury, Risk, Balance sheet and Off-balance sheet&#8212;Capital management</font>&#8221; in the
          2021 Annual Report and &#8220;<font style="font-style: italic;">Supply chain finance funds matter</font>&#8221; in &#8220;<font style="font-style: italic;">I&#8212;Credit Suisse results&#8212;Credit Suisse&#8212;Other information</font>&#8221; in each of the 2022 Quarterly Reports.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">MARKET AND CREDIT RISKS</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">The ongoing global COVID-19 pandemic has adversely affected, and may continue to adversely affect, our business, operations and financial performance.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-top: 9pt; margin-bottom: 12pt;">Since December 2019, the COVID-19 pandemic has spread rapidly and globally, with a high concentration of cases in certain countries in which we conduct
          business. The ongoing global COVID-19 pandemic has adversely affected, and may continue to adversely affect, our business, operations and financial performance.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-top: 9pt; margin-bottom: 12pt;">The spread of COVID-19 and resulting government controls and containment measures implemented around the world have caused severe disruption to global supply
          chains, labor markets and economic activity, which have contributed to rising inflationary pressure and spikes in market volatility. The spread of COVID-19 is continuing to have an adverse impact on the global economy, the severity and duration
          of which is difficult to predict, and has adversely affected our business, operations and financial performance. Modeling for current expected credit losses (&#8220;<font style="font-weight: bold;">CECL</font>&#8221;) has been made more difficult by the
          effects of the COVID-19 pandemic on market volatility and macroeconomic factors, and has required ongoing monitoring and more frequent testing across the Group, particularly for credit models. There can be no assurance that, even after
          adjustments are made to model outputs, the Group will not recognize unexpected losses arising from the model uncertainty that has resulted from the COVID-19 pandemic. The COVID-19 pandemic has significantly impacted, and may continue to adversely
          affect, our credit loss estimates, mark-to-market losses, trading revenues, net interest income and potential goodwill assessments, and may also adversely affect our ability to successfully realize our strategic objectives and goals, including
          those related to the Group strategy that we announced on October&#160;27, 2022. Should current economic conditions persist or deteriorate, the macroeconomic environment could have a continued adverse effect on the aspects outlined herein and on other
          aspects of our business, operations and financial performance, including decreased client activity or demand for our products, disruptions to our workforce or operating systems, possible constraints on capital and liquidity or a possible
          downgrade of our credit ratings. Additionally, legislative and regulatory changes in response to the COVID-19 pandemic, such as consumer and</div>
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        <div style="margin: 9pt 0px 12pt; text-align: justify;">corporate relief measures, could further affect our business. As such measures are often rapidly introduced and varying in their nature, we are also exposed to heightened risks as we may be
          required to implement large-scale changes quickly. Furthermore, increases in inflation and expectations that annual inflation may remain high for a long period of time has forced major central banks to accelerate the withdrawal of emergency
          monetary policies and liquidity support measures put in place during the earlier stages of the COVID-19 pandemic. As some of these measures expire, are withdrawn or are no longer supported by governments, economic growth may be negatively
          impacted, which in turn may adversely affect our business, operations and financial performance.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The extent of the adverse impact of the pandemic on the global economy and markets will depend, in part, on the duration and severity of the measures taken to limit the
          spread of the virus and counter its impact, including further emergence of more easily transmissible and/or dangerous strains of COVID-19 and the availability, successful distribution and public acceptance of vaccines and treatments, and, in
          part, on the size and effectiveness of the compensating measures taken by governments, including additional stimulus legislation, and how quickly and to what extent normal economic and operating conditions can resume. To the extent the COVID-19
          pandemic continues to adversely affect the global economy and/or our business, operations or financial performance, it may also have the effect of increasing the likelihood and/or magnitude of other risks described herein, or may give rise to
          other risks not presently known to us or not currently expected to be significant to our business, operations or financial performance. We continue to closely monitor the potential adverse effects and impact on our operations, businesses and
          financial performance, including liquidity and capital usage, though the extent of the impact is difficult to fully and accurately predict at this time due to the continuing evolution of this uncertain situation. For further information, refer to
          &#8220;<font style="font-style: italic;">Operating environment</font>&#8221; and &#8220;<font style="font-style: italic;">Credit Suisse</font>&#8221; in &#8220;<font style="font-style: italic;">I&#8212;Credit Suisse results</font>&#8221; in each of the 2022 Quarterly Reports.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">We may incur significant losses on our trading and investment activities due to market fluctuations and volatility.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Although we continue to strive to reduce our balance sheet and have made significant progress in implementing our strategy over the past few years, we also continue to
          maintain large trading and investment positions and hedges in the debt, currency and equity markets, and in private equity, hedge funds, real estate and other assets. These positions could be adversely affected by volatility in financial and
          other markets, that is, the degree to which prices fluctuate over a particular period in a particular market, regardless of market levels. To the extent that we own assets, or have net long positions, in any of those markets, a downturn in those
          markets could result in losses from a decline in the value of our net long positions. Conversely, to the extent that we have sold assets that we do not own, or have net short positions, in any of those markets, an upturn in those markets could
          expose us to potentially significant losses as we attempt to cover our net short positions by acquiring assets in a rising market. Market fluctuations, downturns and volatility can adversely affect the fair value of our positions and our results
          of operations. Adverse market or economic conditions or trends have caused, and in the future may cause, a significant decline in our net revenues and profitability.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Our businesses and organization are subject to the risk of loss from adverse market conditions and unfavorable economic, monetary, political, legal, regulatory and other
          developments in the countries in which we operate.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">As a global financial services company, our businesses could be materially adversely affected by unfavorable global and local economic and market conditions, as well as
          geopolitical events and other developments in Europe, the U.S., Asia and elsewhere around the world (even in countries in which we do not currently conduct business). For example, the ongoing conflict between Russia and Ukraine could lead to
          regional and/or global instability, as well as adversely affect commodity and other financial markets or economic conditions. The U.S., the EU, the UK, Switzerland and other countries have imposed, and may further impose, financial and economic
          sanctions and export controls targeting certain Russian entities and/or individuals, and we may face restrictions on engaging with certain consumer and/or institutional businesses due to any current or impending sanctions and laws (including any
          Russian countermeasures), which could adversely affect our business. Further, numerous countries have experienced severe economic disruptions particular to that country or region, including extreme currency fluctuations, high inflation, or low or
          negative growth, among other negative conditions, which could have an adverse effect on our operations and investments. Global equity markets continued their downward trend in 2022, and volatility increased. The economic environment may
          experience further volatility, increased inflation or other negative economic impacts. For further information, refer to &#8220;<font style="font-style: italic;">I&#8212;Information on the company&#8212;Regulation and supervision</font>&#8221; and &#8220;<font style="font-style: italic;">Key risk developments</font>&#8221; in &#8220;<font style="font-style: italic;">III&#8212;Treasury, Risk, Balance sheet and Off-balance sheet&#8212;Risk management</font>&#8221; in the 2021 Annual Report.</div>
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        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Although the severity of the European sovereign debt crisis appears to have abated somewhat over recent years, political uncertainty, including in relation to the UK&#8217;s
          withdrawal from the EU, remains elevated and could cause disruptions in market conditions in Europe and around the world and could further have an adverse impact on financial institutions, including us. The economic and political impact of the UK
          leaving the EU, including on investments and market confidence in the UK and the remainder of the EU, may adversely affect our future results of operations and financial condition.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Following the UK&#8217;s withdrawal from the EU, our legal entities that are organized or operate in the UK face limitations on providing services or otherwise conducting business
          in the EU, which require us to implement significant changes to our legal entity structure. In addition, as part of an overarching global legal entity simplification program, the Group has developed a comprehensive EU entity strategy and is also
          defining a strategy to optimize the legal entity structure across other regions, including expediting the closure of redundant entities. There are a number of uncertainties that may affect the feasibility, scope and timing of the intended
          results, including the outcome of the ongoing negotiations between the EU and the UK for a framework for regulatory cooperation on financial services and the operation of their unilateral and autonomous processes for recognizing each other&#8217;s
          regulatory framework as equivalent. Finally, future significant legal and regulatory changes, including possible regulatory divergence between the EU and the UK, affecting us and our operations may require us to make further changes to our legal
          structure. The implementation of these changes has required, and may further require, the investment of significant time and resources and has increased, and may potentially further increase, operational, regulatory compliance, capital, funding
          and tax costs as well as our counterparties&#8217; credit risk. For further information, refer to &#8220;<font style="font-style: italic;">UK-EU relationship</font>&#8221; in &#8220;<font style="font-style: italic;">I&#8212;Information on the company&#8212;Regulation and
            supervision&#8212;Recent regulatory developments and proposals&#8212;EU</font>&#8221; and &#8220;<font style="font-style: italic;">Corporate Governance framework</font>&#8221; in &#8220;<font style="font-style: italic;">IV&#8212;Corporate Governance</font>&#8221; in the 2021 Annual Report.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The environment of political uncertainty in countries and regions in which we conduct business may also affect our business. The increased popularity of nationalist and
          protectionist sentiments, including implementation of trade barriers and restrictions on market access, may result in significant shifts in national policy and a decelerated path to further European integration. Similar uncertainties exist
          regarding the impact of supply chain disruptions, labor shortages, wage pressures, rising inflation, the ongoing conflict between Russia and Ukraine and the continuing COVID-19 pandemic, any of which may be disruptive to global economic growth
          and may also negatively affect our business.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">In the past, the low interest rate environment has adversely affected our net interest income and the value of our trading and non-trading fixed income portfolios, and
          resulted in a loss of customer deposits as well as an increase in the liabilities relating to our existing pension plans. Furthermore, while interest rates may remain relatively lower for a longer period of time, major central banks have begun
          increasing or signaling that they expect to increase interest rates in response to rising inflation concerns. Future changes in interest rates, including increasing interest rates or changes in the current short-term interest rates in our home
          market, could adversely affect our businesses and results. In addition, movements in equity markets have affected the value of our trading and non-trading equity portfolios, while the historical strength of the Swiss franc has adversely affected
          our revenues and net income and exposed us to currency exchange rate risk. Further, diverging monetary policies among the major economies in which we operate, in particular among the U.S. Federal Reserve System (the &#8220;<font style="font-weight: bold;">Fed</font>&#8221;), the European Central Bank and the Swiss National Bank (the &#8220;<font style="font-weight: bold;">SNB</font>&#8221;), may adversely affect our results.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Such adverse market or economic conditions may negatively impact our investment banking and wealth management businesses and adversely affect net revenues we receive from
          commissions and spreads. These conditions may result in lower investment banking client activity, adversely impacting our financial advisory and underwriting fees. Such conditions may also adversely affect the types and volumes of securities
          trades that we execute for customers. Cautious investor behavior in response to adverse conditions could result in generally decreased client demand for our products, which could negatively impact our results of operations and opportunities for
          growth. Unfavorable market and economic conditions have affected our businesses in the past, including the low interest rate environment, continued cautious investor behavior and changes in market structure. These negative factors could be
          reflected, for example, in lower commissions and fees from our client-flow sales and trading and asset management activities, including commissions and fees that are based on the value of our clients&#8217; portfolios.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Our response to adverse market or economic conditions may differ from that of our competitors and an investment performance that is below that of competitors or asset
          management benchmarks could also result in a decline in assets under management and related fees, making it harder to attract new clients. There could be a shift in client demand away from more complex products, which may result in significant
          client deleveraging, and our</div>
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        <div style="text-align: justify; margin-bottom: 12pt;">results of operations related to wealth management and asset management activities could be adversely affected. Adverse market or economic conditions, including as a result of the COVID-19
          pandemic, could exacerbate such effects.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">In addition, several of our businesses engage in transactions with, or trade in obligations of, governmental entities, including supranational, national, state, provincial,
          municipal and local authorities. These activities can expose us to enhanced sovereign, credit-related, operational and reputational risks, which may also increase as a result of adverse market or economic conditions. Risks related to these
          transactions include the risks that a governmental entity may default on or restructure its obligations or may claim that actions taken by government officials were beyond the legal authority of those officials, which have in the past and may in
          the future adversely affect our financial condition and results of operations.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Adverse market or economic conditions could also affect our private equity investments. If a private equity investment substantially declines in value, we may not receive any
          increased share of the income and gains from such investment (to which we are entitled in certain cases when the return on such investment exceeds certain threshold returns), may be obligated to return to investors previously received excess
          carried interest payments and may lose our pro rata share of the capital invested. In addition, it could become more difficult to dispose of the investment, as even investments that are performing well may prove difficult to exit.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">In addition to the macroeconomic factors discussed above, other political, social and environmental developments beyond our control, including terrorist attacks, cyber
          attacks, military conflicts, diplomatic tensions, economic or political sanctions, disease pandemics, war, political or civil unrest and widespread demonstrations, climate change, natural disasters, or infrastructure issues, such as
          transportation or power failures, could have a material adverse effect on economic and market conditions, market volatility and financial activity, with a potential related effect on our businesses and results. In addition, as geopolitical
          tensions rise, compliance with legal or regulatory obligations in one jurisdiction may be seen as supporting the law or policy objectives of that jurisdiction over another jurisdiction, creating additional risks for our business.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">For further information, refer to &#8220;<font style="font-style: italic;">Non-financial risk</font>&#8221; in &#8220;<font style="font-style: italic;">III&#8212;Treasury, Risk, Balance sheet and
            Off-balance sheet&#8212;Risk management&#8212;Risk coverage and management</font>&#8221; in the 2021 Annual Report.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Uncertainties regarding the discontinuation of benchmark rates may adversely affect our business, financial condition and results of operations and are requiring adjustments
          to our agreements with clients and other market participants, as well as to our systems and processes.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">In July 2017, the UK Financial Conduct Authority (&#8220;<font style="font-weight: bold;">FCA</font>&#8221;), which regulates LIBOR, announced that it will no longer compel banks to
          submit rates for the calculation of the LIBOR benchmark after year-end 2021. Other IBORs may also be permanently discontinued or cease to be representative. In March 2021, the FCA confirmed that, consistent with its prior announcement, all CHF,
          EUR, British pound (&#8220;<font style="font-weight: bold;">GBP</font>&#8221;) and Japanese yen (&#8220;<font style="font-weight: bold;">JPY</font>&#8221;) LIBOR settings and the one-week and two-month USD LIBOR settings will permanently cease to be provided by any
          administrator or will no longer be representative immediately after December&#160;31, 2021. As of January&#160;1, 2022, these LIBOR settings are no longer available on a representative basis. Although the one-, three- and six-month GBP and JPY LIBOR
          settings remain published on a synthetic, temporary and non-representative basis, primarily to facilitate the transition of any residual legacy contract that the parties were unable to address in time, these synthetic LIBORs are not available for
          reference in new trading activity. The remaining USD LIBOR settings will permanently cease to be provided by any administrator or will no longer be representative immediately after June&#160;30, 2023, providing additional time to address the legacy
          contracts that reference such USD LIBOR settings. However, there is no certainty that the extended period of time to transition to alternative reference rates (&#8220;<font style="font-weight: bold;">ARRs</font>&#8221;) is sufficient given how widely USD
          LIBOR is referenced. A number of initiatives have been developed to support the transition, such as the publication by the International Swaps and Derivatives Association, Inc. (&#8220;<font style="font-weight: bold;">ISDA</font>&#8221;) of Supplement number
          70 to the 2006 ISDA Definitions (the &#8220;<font style="font-weight: bold;">IBOR Supplement</font>&#8221;) and the accompanying IBOR Protocol. Although these measures may help facilitate the derivatives markets&#8217; transition away from IBORs, our clients and
          other market participants may not adhere to the IBOR Protocol or may not be otherwise willing to apply the provisions of the IBOR Supplement to relevant documentation. Furthermore, no similar multilateral mechanism exists to amend legacy loans or
          bonds, many of which must instead be amended individually, which may require the consent of multiple lenders or bondholders. As a consequence, there can be no assurance that market participants, including us, will be able to successfully modify
          all outstanding IBOR referencing contracts or otherwise be sufficiently prepared for the uncertainties resulting from cessation, potentially leading to disputes. Legislation has been proposed or enacted in a number of jurisdictions to address
          affected contracts without robust fallback provisions. For example, the United States has</div>
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        <div style="text-align: justify; margin-bottom: 12pt;">enacted the Adjustable Interest Rate (LIBOR) Act providing for the replacement of USD LIBOR-based benchmarks in certain agreements by operation of law. However, the scope of this legislation is
          limited. In addition, it is uncertain whether, when and how other jurisdictions will enact similar legislation. Furthermore, the terms and scope of existing and future legislative solutions may be inconsistent and potentially overlapping.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We have identified a significant number of our liabilities and assets, including credit instruments such as credit agreements, loans and bonds, linked to IBORs across our
          businesses that require transition to ARRs. The overwhelming majority of our legacy non-USD LIBOR portfolio has been remediated, either by active transition to ARRs, or by adding robust fallback provisions intended to govern the transition to
          ARRs upon the cessation of LIBORs. While we have a significant level of liabilities and assets linked to USD LIBOR, derivatives make up the majority of the legacy portfolio, and many of our derivative counterparts have already adhered to the IBOR
          Protocol. The discontinuation of IBORs or future changes in the administration of benchmarks could result in adverse consequences to the return on, value of and market for securities, credit instruments and other instruments whose returns or
          contractual mechanics are linked to any such benchmark, including those issued and traded by us. For example, ARR-linked products may not provide a term structure and may calculate interest payments differently than benchmark-linked products,
          which could lead to greater uncertainty with respect to corresponding payment obligations. The transition to ARRs also raises concerns of liquidity risk, which may arise due to slow acceptance, take-up and development of liquidity in products
          that use ARRs, leading to market dislocation or fragmentation. It is also possible that such products will perform differently to IBOR products during times of economic stress, adverse or volatile market conditions and across the credit and
          economic cycle, which may impact the value, return on and profitability of our ARR-based assets. The transition to ARRs also requires a change in contractual terms of existing products currently linked to IBORs.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Further, the replacement of IBORs with an ARR in existing securities and other contracts, or in internal discounting models, could negatively impact the value of and return
          on such existing securities, credit instruments and other contracts and result in mispricing and additional legal, financial, tax, operational, market, compliance, reputational, competitive or other risks to us, our clients and other market
          participants. For example, we may face a risk of litigation, disputes or other actions from clients, counterparties, customers, investors or others regarding the interpretation or enforcement of related contractual provisions or if we fail to
          appropriately communicate the effect that the transition to ARRs will have on existing and future products. Further, litigation, disputes or other action may occur as a result of the interpretation or application of legislation, in particular, if
          there is an overlap between legislation introduced in different jurisdictions. In addition, the transition to ARRs requires changes to our documentation, methodologies, processes, controls, systems and operations, which has resulted and may
          continue to result in increased effort and cost. There may also be related risks that arise in connection with the transition. For example, our hedging strategy may be negatively impacted or market risk may increase in the event of different ARRs
          applying to our assets compared to our liabilities. In particular, our swaps and similar instruments that reference an IBOR and that are used to manage long-term interest rate risk related to our credit instruments could adopt different ARRs than
          the related credit instruments, resulting in potential basis risk and potentially making hedging our credit instruments more costly or less effective. For further information on the replacement of IBORs, refer to &#8220;<font style="font-style: italic;">Replacement of interbank offered rates</font>&#8221; in &#8220;<font style="font-style: italic;">II&#8212;Operating and financial review&#8212;Credit Suisse&#8212;Other information</font>&#8221; in the 2021 Annual Report and in &#8220;<font style="font-style: italic;">I&#8212;Credit
            Suisse results&#8212;Credit Suisse&#8212;Regulatory developments and proposals</font>&#8221; in the Third Quarter 2022 Report.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">We may incur significant losses in the real estate sector.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We finance and acquire principal positions in a number of real estate and real estate-related products, primarily for clients, and originate loans secured by commercial and
          residential properties. As of December&#160;31, 2021, our real estate loans as reported to the SNB totaled approximately CHF&#160;147.9 billion. We also securitize and trade in commercial and residential real estate and real estate-related whole loans,
          mortgages and other real estate and commercial assets and products, including commercial mortgage-backed securities and residential mortgage-backed securities. Our real estate-related businesses and risk exposures could be adversely affected by
          any downturn in real estate markets, other sectors and the economy as a whole. In particular, we have exposure to commercial real estate, which has been impacted by the COVID-19 pandemic and resulting tight government controls and containment
          measures. Should these conditions persist or deteriorate, they could create additional risk for our commercial real estate-related businesses. In addition, the risk of potential price corrections in the real estate market in certain areas of
          Switzerland could have a material adverse effect on our real estate-related businesses.</div>
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        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Holding large and concentrated positions can expose us to large losses.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Concentrations of risk can expose us to large losses given that we have provided or may in the future provide sizeable loans to, conduct sizeable transactions with and own
          securities holdings in, certain customers, clients, counterparties, industries, countries or any pool of exposures with a common risk characteristic. Decreasing economic growth in any sector in which we make significant commitments, for example,
          through underwriting, lending or advisory services, could also negatively affect our net revenues. In addition, a significant deterioration in the credit quality of one of our borrowers or counterparties could lead to concerns about the
          creditworthiness of other borrowers or counterparties in similar, related or dependent industries. This type of interrelationship could exacerbate our credit, liquidity and market risk exposure and potentially cause us to incur losses.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We have significant risk concentration in the financial services industry as a result of the large volume of transactions we routinely conduct with broker-dealers, banks,
          funds and other financial institutions, and in the ordinary conduct of our business, we can be subject to risk concentration with a particular counterparty. In addition, we, and other financial institutions, may pose systemic risk in a financial
          or credit crisis, and may be vulnerable to market sentiment and confidence, particularly during periods of severe economic stress. We, like other financial institutions, continue to adapt our practices and operations in consultation with our
          regulators to better address an evolving understanding of our exposure to, and management of, systemic risk and risk concentration to financial institutions. Regulators continue to focus on these risks, and there are numerous new regulations and
          government proposals, and significant ongoing regulatory uncertainty, about how best to address them. There can be no assurance that the changes in our industry, operations, practices and regulation will be effective in managing these risks. For
          further information, refer to &#8220;<font style="font-style: italic;">I&#8212;Information on the company&#8212;Regulation and supervision</font>&#8221; in the 2021 Annual Report and &#8220;<font style="font-style: italic;">II&#8212;Treasury, risk, balance sheet and off-balance
            sheet&#8212;Capital management&#8212;Regulatory framework</font>&#8221; in each of the 2022 Quarterly Reports.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Risk concentration can cause us to suffer losses even when economic and market conditions are generally favorable for others in our industry.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Our hedging strategies may not prevent losses.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">If any of the variety of instruments and strategies we use to hedge our exposure to various types of risk in our businesses is not effective, we can incur losses. We may be
          unable to purchase hedges or be only partially hedged, or our hedging strategies may not be fully effective in mitigating our risk exposure in all market environments or against all types of risk.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Market risk may increase the other risks that we face.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">In addition to the potentially adverse effects on our businesses described above, market risk could exacerbate the other risks that we face. For example, if we were to incur
          substantial trading losses, our need for liquidity could rise sharply while our access to liquidity could be impaired. In conjunction with another market downturn, our customers and counterparties could also incur substantial losses of their own,
          thereby weakening their financial condition and increasing our credit and counterparty risk exposure to them.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">We can suffer significant losses from our credit exposures.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Our businesses are subject to the fundamental risk that borrowers and other counterparties will be unable to perform their obligations. Our credit exposures exist across a
          wide range of transactions that we engage in with a large number of clients and counterparties, including lending relationships, commitments and letters of credit, as well as derivative, currency exchange and other transactions. Our exposure to
          credit risk can be exacerbated by adverse economic or market trends, as well as increased volatility in relevant markets or instruments. For example, adverse economic effects arising from the COVID-19 pandemic, such as disruptions to economic
          activity and global supply chains, labor shortages, wage pressures and rising inflation, will likely continue to negatively impact the creditworthiness of certain counterparties and result in increased credit losses for our businesses. In
          addition, disruptions in the liquidity or transparency of the financial markets may result in our inability to sell, syndicate or realize the value of our positions, thereby leading to increased concentrations. Any inability to reduce these
          positions may not only increase the market and credit risks associated with such positions, but also increase the level of RWA on our balance sheet, thereby increasing our capital requirements, all of which could adversely affect our businesses.
          For information on management of credit risk, refer to &#8220;<font style="font-style: italic;">Credit risk</font>&#8221; in &#8220;<font style="font-style: italic;">III&#8212;Treasury, Risk, Balance sheet and Off-balance sheet&#8212;Risk management&#8212;Risk coverage and
            management</font>&#8221; in the 2021 Annual</div>
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        <div style="text-align: justify; margin-bottom: 12pt;">Report and &#8220;<font style="font-style: italic;">II&#8212;Treasury, risk, balance sheet and off-balance sheet&#8212;Risk management</font>&#8221; in each of the 2022 Quarterly Reports.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Our regular review of the creditworthiness of clients and counterparties for credit losses does not depend on the accounting treatment of the asset or commitment. Changes in
          creditworthiness of loans and loan commitments that are fair valued are reflected in trading revenues.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The determination by the Group&#8217;s management of the provision for credit losses is subject to significant judgment, and we may not accurately assess or mitigate all areas of
          exposure. Our banking businesses may need to increase their provisions for credit losses or may record losses in excess of the previously determined provisions if our original estimates of loss prove inadequate, which could have a material
          adverse effect on our results of operations. Our accounting standards generally require management to estimate lifetime CECL on our credit exposure held at amortized cost. Our adoption of the CECL accounting standard in 2020 has resulted and
          could in the future result in greater volatility in earnings and capital levels due to economic developments or occurrence of an extreme and statistically rare event that cannot be adequately reflected in the CECL model. For example, the effects
          surrounding the continuation of the COVID-19 pandemic could have an adverse effect on the Group&#8217;s credit loss estimates and goodwill assessments in the future, which could have a significant impact on our results of operations and regulatory
          capital. In addition, we are applying model overlays, as the CECL model outputs are overly sensitive to the effect of economic inputs that lie significantly outside of their historical range. We can suffer unexpected losses if the models and
          assumptions that are used to estimate our allowance for credit losses are not sufficient to address our credit losses. For information on provisions for credit losses and related risk mitigation, refer to &#8220;<font style="font-style: italic;">Note
            1&#8212;Summary of significant accounting policies</font>,&#8221; &#8220;<font style="font-style: italic;">Note 9&#8212;Provision for credit losses</font>,&#8221; &#8220;<font style="font-style: italic;">Note 19&#8212;Loans</font>&#8221; and &#8220;<font style="font-style: italic;">Note
            20&#8212;Financial instruments measured at amortized cost and credit losses</font>,&#8221; each in &#8220;<font style="font-style: italic;">VI&#8212;Consolidated financial statements&#8212;Credit Suisse Group</font>&#8221; in the 2021 Annual Report and &#8220;<font style="font-style: italic;">II&#8212;Treasury, risk, balance sheet and off-balance sheet&#8212;Risk management</font>&#8221; and &#8220;<font style="font-style: italic;">Note 9&#8212;Provision for credit losses</font>,&#8221; &#8220;<font style="font-style: italic;">Note 18&#8212;Loans</font>&#8221; and &#8220;<font style="font-style: italic;">Note 19&#8212;Financial instruments measured at amortized cost and credit losses</font>,&#8221; each in &#8220;<font style="font-style: italic;">III&#8212;Condensed consolidated financial statements&#8212;unaudited</font>&#8221; in each of the 2022
          Quarterly Reports.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Under certain circumstances, we may assume long-term credit risk, extend credit against illiquid collateral and price derivative instruments aggressively based on the credit
          risks that we take. As a result of these risks, our capital and liquidity requirements may continue to increase.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Defaults by one or more large financial institutions could adversely affect financial markets generally and us specifically.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Concerns, rumors about or an actual default by one institution could lead to significant liquidity problems, losses or defaults by other institutions because the commercial
          soundness of many financial institutions may be closely related as a result of credit, trading, clearing or other relationships between institutions. This risk is typically referred to as systemic risk. Concerns about defaults by and failures of
          many financial institutions could lead to losses or defaults by financial institutions and financial intermediaries with which we interact on a daily basis, such as clearing agencies, clearing houses, banks, securities firms and exchanges. Our
          credit risk exposure will also increase if the collateral we hold cannot be realized or can only be liquidated at prices insufficient to cover the full amount of the exposure.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">The information that we use to manage our credit risk may be inaccurate or incomplete.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Although we regularly review our credit exposure to specific clients and counterparties and to specific industries, countries and regions that we believe may present credit
          concerns, default risk may arise from events or circumstances that are difficult to foresee or detect, such as fraud. We may also lack correct and complete information with respect to the credit or trading risks of a counterparty or risk
          associated with specific industries, countries and regions or misinterpret such information that is received or otherwise incorrectly assess a given risk situation. Additionally, there can be no assurance that measures instituted to manage such
          risk will be effective in all instances.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">STRATEGY RISK</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">We may not achieve some or all of the expected benefits of the strategic initiatives we have announced.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">On October&#160;27, 2022, we announced a comprehensive new strategic direction for the Group and significant changes to its structure and organization, including establishing a
          more capital-light Investment Bank,</div>
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        <div style="text-align: justify; margin-bottom: 12pt;">divesting non-core businesses and accelerating cost reduction. We have announced our objective to implement most of these measures by 2025.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Our goals, our strategy for implementing them, and the completion of these measures are based on a number of key assumptions, including in relation to the future economic
          environment and the economic growth of certain geographic regions, the regulatory landscape, our ability to meet certain financial goals, and the confidence of clients, counterparties, employees and other stakeholders, including regulatory
          authorities, in this strategy and in our ability to implement it. If any of these assumptions prove inaccurate in whole or in part, we may not be able to achieve some or all of the expected benefits of our strategic initiatives, including
          generating the intended structural cost savings, strengthening and reallocating our capital, reducing our RWA in certain divisions, divesting non-core businesses, generating future and sustainable returns, and achieving our other targets and
          strategic goals. The breadth of our strategic initiatives and goals also increases the challenges and risks of executing and implementing them. If we are unable to implement our strategy successfully in whole or in part, or should the strategic
          initiatives once implemented fail to produce the expected benefits, our financial results and our share price may be materially and adversely affected. Even if we are able to successfully implement our strategy, our proposed goals may increase
          our exposure to certain risks, including but not limited to credit risks, market risks, liquidity risks, operational risks and regulatory risks, and such risks may evolve in a way that is not under our control or entirely possible to predict.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Our strategy involves a change in focus within certain areas of our business, including exiting certain businesses. For example, we have announced our intention to transfer a
          majority of the assets of Securitized Products Group (&#8220;<font style="font-weight: bold;">SPG</font>&#8221;) and carve out CS First Boston as an independent investment bank for the capital markets and advisory businesses. These changes may have negative
          effects in these and other areas of our business and may result in an adverse effect on our business as a whole.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Moreover, any reputational harm resulting from prior events or from reactions to our strategic initiatives may make it more difficult to implement those strategic initiatives
          or achieve the related targets and objectives.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We anticipate that revenues and income for the Investment Bank will be materially reduced by the planned transfer of the majority of SPG&#8217;s assets, as well as by the targeted
          reduction in capital for the Investment Bank. Our ability to attract and retain clients also may be adversely affected by these changes. The capital-light Investment Bank is also likely to face increased competition in areas such as leveraged
          finance and underwriting, particularly from competitors that have access to larger amounts of capital. In addition, the new structure of the Investment Bank may pose challenges for the division to build upon other businesses and relationships of
          the Group and may limit the division&#8217;s ability to deliver cross-selling opportunities to other Group businesses.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Market conditions, the ability to attract potential purchasers, regulatory approvals and consents, and other similar uncertainties may also affect our ability to dispose of
          assets, achieve favorable prices or terms for these disposals, or complete any announced but not yet completed disposals, which may lead us to dispose of assets at a loss, at a higher than expected loss, hold these assets for a longer period of
          time than desired or planned, or fail to dispose of assets at all. A significant element of our strategic plans is to transfer a majority of SPG&#8217;s assets. As announced on November&#160;15, 2022, we have entered into definitive transaction agreements
          to sell a significant portion of our SPG and other related financing businesses to certain entities and funds managed by affiliates of Apollo Global Management. Closing of the transaction is expected in the first half of 2023, subject to
          regulatory approvals, customer consents and other customary closing conditions. If we are unable to dispose of these assets as proposed or announced, including the contemplated sale of other portfolio assets to third-party investors, we may not
          be able to reduce our RWAs and leverage exposure according to plan or achieve the capital targets set out in our strategy. For more information on the SPG transaction, refer to the Form 6-K dated November&#160;15, 2022.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">In addition, we anticipate these disposals and changes to the Group may result in further impairments and write-downs, including in relation to goodwill and the revaluation
          of our deferred tax assets, which may have a material adverse effect on our results of operations and financial condition. These changes may also lead to further impairments of the capital effective component of the values of Credit Suisse AG
          (parent company)&#8217;s participations in certain of its subsidiaries, which would negatively impact its Swiss common equity tier 1 (&#8220;<font style="font-weight: bold;">CET1</font>&#8221;) ratio.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Our strategy also includes certain financial goals and targets. Our ability to achieve these targets is based on a number of macroeconomic factors and underlying business
          assumptions, such as a higher interest rate environment and our ability to hold and attract client assets at levels and rates similar to those in the past. For example, a period of stagflation may have negative effects on our ability to achieve
          our financial goals and targets.</div>
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        <div style="text-align: justify; margin-bottom: 12pt;">Furthermore, we do not expect geopolitical risks to escalate significantly. Deviations from any of these assumptions would impact our ability to achieve our financial goals and targets.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We are also seeking to achieve significant cost savings as part of our plan. We are targeting to reduce our costs based on the assumption that, in addition to specific
          strategic business exit and curtailment activities that account for a significant proportion of the intended cost savings, more savings can be achieved through efficiency measures. Implementing these measures will entail the incurrence of
          significant restructuring expenses, including software and real estate impairments, estimated to be on the order of CHF&#160;2.9 billion through the end of 2024, although they could exceed this level. These measures include de-scoping of business and
          internal footprint, organizational effectiveness and simplification, workforce management and third-party cost management. Furthermore, we have identified short-term actions to set the right trajectory to meet our cost ambitions. These include a
          5% planned reduction in permanent headcount by the end of 2022, and, in 2023, a 30% reduction in contractor spend and a 50% reduction in consultancy spend. Our ability to achieve these cost savings is dependent on the execution of these measures
          on time and to their full extent. There is also a risk that these measures impact the revenue generation capabilities of the business beyond what has been taken into account currently for the strategic business curtailment activities. In
          addition, our planned exit from certain businesses and disposals of certain assets may entail higher costs or take more time than anticipated and accordingly impact our ability to achieve our targeted cost savings. Furthermore, additional costs
          could arise from any number of anticipated or unanticipated developments, such as costs relating to compliance with additional regulatory requirements and increased regulatory charges.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Across all our businesses, we need to attract and retain highly qualified employees. The anticipated changes in the Group as part of our strategic initiatives may negatively
          impact our ability to hire and retain highly qualified employees, including due to any changes or reductions in compensation. If we are unable to attract and/or retain highly qualified employees across our businesses, this may have a material
          adverse effect on our ability to implement our strategy. See also &#8220;<font style="font-style: italic;">&#8212;We must recruit and retain highly skilled employees</font>.&#8221;</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">For further information on our strategic direction, refer to &#8220;<font style="font-style: italic;">Credit Suisse&#8212;Strategic Review</font>.&#8221;</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">COUNTRY AND CURRENCY EXCHANGE RISK</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Country risks may increase market and credit risks we face.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Country, regional and political risks are components of market and credit risk. Financial markets and economic conditions generally have been and may in the future be
          materially affected by such risks. Economic or political pressures in a country or region, including those arising from local market disruptions, currency crises, monetary controls or other factors, may adversely affect the ability of clients or
          counterparties located in that country or region to obtain foreign currency or credit and, therefore, to perform their obligations to us, which in turn may have an adverse impact on our results of operations.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">We may face significant losses in emerging markets.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">An element of our strategy is to increase our wealth management businesses in emerging market countries. Our implementation of this strategy will increase our existing
          exposure to economic instability in those countries. We monitor these risks, seek diversity in the sectors in which we invest and emphasize client-driven business. Our efforts at limiting emerging market risk, however, may not always succeed. In
          addition, various emerging market countries have experienced and may continue to experience severe economic, financial and political disruptions or slower economic growth than in previous years, including significant devaluations of their
          currencies, defaults or threatened defaults on sovereign debt and capital and currency exchange controls. In addition, sanctions have been imposed on certain individuals and companies in these markets that prohibit or restrict dealings with them
          and certain related entities and further sanctions are possible. The possible effects of any such disruptions may include an adverse impact on our businesses and increased volatility in financial markets generally.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Currency fluctuations may adversely affect our results of operations.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We are exposed to risk from fluctuations in exchange rates for currencies, particularly the U.S. dollar. In particular, a substantial portion of our assets and liabilities
          are denominated in currencies other than the Swiss franc, which is the primary currency of our financial reporting. Our capital is also stated in Swiss francs, and we</div>
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        <div style="text-align: justify; margin-bottom: 12pt;">do not fully hedge our capital position against changes in currency exchange rates. The Swiss franc remained strong in 2021.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">As we incur a significant part of our expenses in Swiss francs while we generate a large proportion of our revenues in other currencies, our earnings are sensitive to changes
          in the exchange rates between the Swiss franc and other major currencies. Although we have implemented a number of measures designed to offset the impact of exchange rate fluctuations on our results of operations, the appreciation of the Swiss
          franc in particular and exchange rate volatility in general have had an adverse impact on our results of operations and capital position in recent years and may continue to have an adverse effect in the future.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">OPERATIONAL, RISK MANAGEMENT AND ESTIMATION RISKS</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">We are exposed to a wide variety of operational risks, including cybersecurity and other information technology risks.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Operational risk is the risk of financial loss arising from inadequate or failed internal processes, people or systems or from external events. In general, although we have
          business continuity plans, our businesses face a wide variety of operational risks, including technology risk that stems from dependencies on information technology, third-party suppliers and the telecommunications infrastructure as well as from
          the interconnectivity of multiple financial institutions with central agents, exchanges and clearing houses. As a global financial services company, we rely heavily on our financial, accounting and other data processing systems, which are varied
          and complex, and we may face additional technology risks due to the global nature of our operations. Our business depends on our ability to process a large volume of diverse and complex transactions within a short space of time, including
          derivatives transactions, which have increased in volume and complexity. We may rely on automation, robotic processing, machine learning and artificial intelligence for certain operations, and this reliance may increase in the future with
          corresponding advancements in technology, which could expose us to additional cybersecurity risks. We are exposed to operational risk arising from errors made in the execution, confirmation or settlement of transactions or from transactions not
          being properly recorded or accounted for. Cybersecurity and other information technology risks for financial institutions have significantly increased in recent years and we may face an increased risk of cyber attacks or heightened risks
          associated with a lesser degree of data and intellectual property protection in certain foreign jurisdictions in which we operate. Regulatory requirements in these areas have increased and are expected to increase further, which may vary and
          potentially conflict across different jurisdictions.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Information security, data confidentiality and integrity are of critical importance to our businesses, and there has been recent regulatory scrutiny on the ability of
          companies to safeguard personal information of individuals in accordance with data protection regulation, including the European General Data Protection Regulation and the Swiss Federal Act on Data Protection. Governmental authorities, employees,
          individual customers or business partners may initiate proceedings against us as a result of security breaches affecting the confidentiality or integrity of personal data, as well as the failure, or perceived failure, to comply with data
          protection regulations. The adequate monitoring of operational risks and adherence to data protection regulations have also come under increased regulatory scrutiny. Any failure by us to adequately ensure the security of data and to address the
          increased technology-related operational risks could also lead to regulatory sanctions or investigations and a loss of trust in our systems, which may adversely affect our reputation, business and operations. For further information on regulatory
          developments related to cybersecurity and data protection, refer to &#8220;<font style="font-style: italic;">Recent regulatory developments and proposals&#8212;Switzerland&#8212;Data Protection Act</font>,&#8221; &#8220;<font style="font-style: italic;">Regulatory
            Framework&#8212;Switzerland&#8212;Cybersecurity</font>,&#8221; &#8220;<font style="font-style: italic;">Regulatory Framework&#8212;US&#8212;Cybersecurity</font>&#8221; and &#8220;<font style="font-style: italic;">Regulatory Framework&#8212;EU&#8212;Data protection regulation</font>,&#8221; each in &#8220;<font style="font-style: italic;">I&#8212;Information on the company&#8212;Regulation and supervision</font>&#8221; in the 2021 Annual Report and to &#8220;<font style="font-style: italic;">I&#8212;Credit Suisse results&#8212;Credit Suisse&#8212;Regulatory developments and proposals</font>&#8221;
          in the First Quarter 2022 Report.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Threats to our cybersecurity and data protection systems require us to dedicate significant financial and human resources to protect the confidentiality, integrity and
          availability of our systems and information. Despite our wide range of security measures, it is not always possible to anticipate the evolving threat landscape and mitigate all risks to our systems and information. These threats may derive from
          human error, misconduct (including errors in judgment, fraud or malice and/or engaging in violations of applicable laws, rules, policies or procedures), or may result from accidental technological failure. There may also be attempts to
          fraudulently induce employees, clients, third parties or other users of our systems to disclose sensitive information in order to gain access to our data or that of our clients. We could also be affected by risks to the systems and information of
          our clients, vendors, service providers, counterparties and other third parties. For example, remote working may</div>
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        <div style="text-align: justify; margin-bottom: 12pt;">require our employees to use third party technology, which may not provide the same level of information security as our own information systems. Risks relating to cyber attacks on our vendors
          and other third parties have also been increasing due to more frequent and severe supply chain attacks impacting software and information technology service providers in recent years. Security breaches may involve substantial remediation costs,
          affect our ability to carry out our businesses or impair the trust of our clients or potential clients, any of which could have a material adverse effect on our business and financial results. In addition, we may introduce new products or
          services or change processes, resulting in new operational risks that we may not fully appreciate or identify.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The ongoing global COVID-19 pandemic has led to a wide-scale and prolonged shift to remote working for our employees, which increases the vulnerability of our information
          technology systems and the likelihood of damage as a result of a cybersecurity incident. For example, the use of remote devices to access the firm&#8217;s networks could impact our ability to quickly detect and mitigate security threats and human
          errors as they arise. Additionally, it is more challenging to ensure the comprehensive roll-out of system security updates and we also have less visibility over the physical security of our devices and systems. Our customers have also
          increasingly relied on remote (digital) banking services during the COVID-19 pandemic. This has resulted in a greater demand for our information technology infrastructure and increases the potential significance of any outage or cybersecurity
          incident that may occur. Due to the evolving nature of cybersecurity risks and our reduced visibility and control in light of remote working in the context of the global COVID-19 pandemic, our efforts to provide appropriate policies and security
          measures may prove insufficient to mitigate all cybersecurity and data protection threats. The rise in remote access, by both our employees and customers, has increased the burden on our information technology systems and may cause our systems
          (and our ability to deliver our services) to become slow or fail entirely. Any slowdown in our service delivery or any system outage due to overutilization will have a negative impact on our business and reputation.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We and other financial institutions have suffered cyber attacks, information or security breaches, personal data breaches and other forms of attacks, incidents and failures.
          Cybersecurity risks have also significantly increased in recent years in part due to the growing number and increasingly sophisticated activities of malicious cyber actors, including organized crime groups, state-sponsored actors, terrorist
          organizations, extremist parties and hackers. In addition, we have been and will continue to be subject to cyber attacks, information or security breaches, personal data breaches and other forms of attacks, incidents and failures involving
          disgruntled employees, activists and other third parties, including those engaging in corporate espionage. We expect to continue to be the target of such attacks in the future, and we may experience other forms of cybersecurity or data protection
          incidents or failures in the future. In the event of a cyber attack, information or security breach, personal data breach or technology failure, we have experienced and may in the future experience operational issues, the infiltration of payment
          systems or the unauthorized release, gathering, monitoring, misuse, loss or destruction of confidential, proprietary and other information relating to us, our clients, employees, vendors, service providers, counterparties or other third parties.
          Emerging technologies, including the increasing use of automation, artificial intelligence and robotics, as well as the broad utilization of third-party financial data aggregators, could further increase our cybersecurity risk and exposure.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Given our global footprint and the high volume of transactions we process, the large number of clients, partners and counterparties with which we do business, our growing use
          of digital, mobile, cloud- and internet-based services, and the increasing frequency, sophistication and evolving nature of cyber attacks, a cyber attack, information or security breach, personal data breach or technology failure may occur
          without detection for an extended period of time. In addition, we expect that any investigation of a cyber attack, information or security breach, personal data breach or technology failure will be inherently unpredictable and it may take time
          before any investigation is complete. These factors may inhibit our ability to provide timely, accurate and complete information about the event to our clients, employees, regulators, other stakeholders and the public. During such time, we may
          not know the extent of the harm or how best to remediate it and certain errors or actions may be repeated or compounded before they are discovered and rectified, all or any of which would further increase the costs and consequences of a cyber
          attack, information or security breach, personal data breach or technology failure.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">If any of our systems do not operate properly or are compromised as a result of cyber attacks, information or security breaches, personal data breaches, technology failures,
          unauthorized access, loss or destruction of data, unavailability of service, computer viruses or other events that could have an adverse security impact, we could, among other things, be subject to litigation or suffer financial loss not covered
          by insurance, a disruption of our businesses, liability to our clients, employees, counterparties or other third parties, damage to relationships with our vendors or service providers, regulatory intervention or reputational damage. Any such
          event could also require us to expend significant additional resources to modify our protective measures or to investigate and</div>
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        <div style="text-align: justify; margin-bottom: 12pt;">remediate vulnerabilities or other exposures. We may also be required to expend resources to comply with new and increasingly expansive regulatory requirements related to cybersecurity.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">We may suffer losses due to employee misconduct.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Our businesses are exposed to risk from potential non-compliance with policies or regulations, employee misconduct or negligence and fraud, which could result in civil,
          regulatory or criminal investigations, litigation and charges, regulatory sanctions and serious reputational or financial harm. In recent years, a number of multinational financial institutions have suffered material losses due to, for example,
          the actions of traders executing unauthorized trades or other employee misconduct. It is not always possible to deter or fully prevent employee misconduct and the precautions we take to prevent and detect this activity have not always been, and
          may not always be, fully effective.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Our risk management procedures and policies may not be fully effective in mitigating our risk exposures in all market environments or against all types of risk, which can
          result in unexpected, material losses in the future.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We seek to monitor and control our risk exposure through a broad and diversified set of risk management policies and procedures as well as hedging strategies, including the
          use of models in analyzing and monitoring the various risks we assume in conducting our activities. These risk management strategies, techniques, models, procedures and policies, however, may not be fully effective in mitigating our risk exposure
          in all economic market environments or against all types of risk, including risks that we fail to identify, anticipate or mitigate, in whole or in part, which may result in unexpected, material losses.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Some of our quantitative tools and metrics for managing risk, including value-at-risk and economic risk capital, are based upon our use of observed historical market
          behavior. Our risk management tools and metrics may fail to predict important risk exposures. In addition, our quantitative modeling does not take all risks into account and makes numerous assumptions and judgments regarding the overall
          environment, and therefore cannot anticipate every market development or event or the specifics and timing of such outcomes. As a result, risk exposures could arise from factors we did not anticipate or correctly evaluate in our statistical
          models. This could limit our ability to manage our risks, and in these and other cases, it can also be difficult to reduce our risk positions due to the activity of other market participants or widespread market dislocations. As a result, our
          losses may be significantly greater than what the historical measures may indicate.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">In addition, inadequacies or lapses in our risk management procedures and policies can expose us to unexpected losses, and our financial condition or results of operations
          could be materially and adversely affected. For example, in respect of the Archegos matter, the independent report found, among other things, a failure to effectively manage risk in the Investment Bank&#8217;s prime services business by both the first
          and second lines of defense as well as a lack of risk escalation. Such inadequacies or lapses can require significant resources and time to remediate, lead to non-compliance with laws, rules and regulations, attract heightened regulatory
          scrutiny, expose us to regulatory investigations or legal proceedings and subject us to litigation or regulatory fines, penalties or other sanctions, or capital surcharges or add-ons. In addition, such inadequacies or lapses can expose us to
          reputational damage. If existing or potential customers, clients or counterparties believe our risk management is inadequate, they could take their business elsewhere or seek to limit their transactions with us, which could have a material
          adverse effect on our results of operation and financial condition. For information on our risk management, refer to &#8220;<font style="font-style: italic;">III&#8212;Treasury, Risk, Balance sheet and Off-balance sheet&#8212;Risk management</font>&#8221; in the 2021
          Annual Report and &#8220;<font style="font-style: italic;">II&#8212;Treasury, risk, balance sheet and off-balance sheet&#8212;Risk management</font>&#8221; in each of the 2022 Quarterly Reports.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Our actual results may differ from our estimates and valuations.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We make estimates and valuations that affect our reported results, including determining the fair value of certain assets and liabilities, establishing provisions for
          contingencies and losses for loans, litigation and regulatory proceedings, accounting for goodwill and intangible asset impairments, evaluating our ability to realize deferred tax assets, valuing equity-based compensation awards, modeling our
          risk exposure and calculating expenses and liabilities associated with our pension plans. These estimates are based on judgment and available information, and our actual results may differ materially from these estimates. For more information on
          these estimates and valuations, refer to &#8220;<font style="font-style: italic;">Critical accounting estimates</font>&#8221; in &#8220;<font style="font-style: italic;">II&#8212;Operating and financial review</font>&#8221; and &#8220;<font style="font-style: italic;">Note
            1&#8212;Summary of significant accounting policies</font>&#8221; in &#8220;<font style="font-style: italic;">VI&#8212;Consolidated financial statements&#8212;Credit Suisse Group</font>&#8221; in the 2021 Annual Report.</div>
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        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Our estimates and valuations rely on models and processes to predict economic conditions and market or other events that might affect the ability of counterparties to perform
          their obligations to us or impact the value of assets. To the extent our models and processes become less predictive due to unforeseen market conditions, illiquidity or volatility, our ability to make accurate estimates and valuations could be
          adversely affected.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Our accounting treatment of off-balance sheet entities may change.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We enter into transactions with special purpose entities (&#8220;<font style="font-weight: bold;">SPEs</font>&#8221;) in our normal course of business, and certain SPEs with which we
          transact and conduct business are not consolidated and their assets and liabilities are off-balance sheet. We may have to exercise significant management judgment in applying relevant accounting consolidation standards, either initially or after
          the occurrence of certain events that may require us to reassess whether consolidation is required. Accounting standards relating to consolidation, and their interpretation, have changed and may continue to change. If we are required to
          consolidate an SPE, its assets and liabilities would be recorded on our consolidated balance sheets and we would recognize related gains and losses in our consolidated statements of operations, and this could have an adverse impact on our results
          of operations and capital and leverage ratios. For more information on our transactions with and commitments to SPEs, refer to &#8220;<font style="font-style: italic;">III&#8212;Treasury, Risk, Balance sheet and Off-balance sheet&#8212;Balance sheet and
            off-balance sheet&#8212;Off-balance sheet</font>&#8221; in the 2021 Annual Report and &#8220;<font style="font-style: italic;">II&#8212;Treasury, risk, balance sheet and off-balance sheet&#8212;Balance sheet and off-balance sheet&#8212;Off-balance sheet</font>&#8221; in each of the
          2022 Quarterly Reports.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">We are exposed to climate change risks, which could adversely affect our reputation, business operations, clients and customers, as well as the creditworthiness of our
          counterparties.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We operate in many regions, countries and communities around the world where our businesses, and the activities of our clients, could be impacted by climate change, which
          poses both short- and long-term risks to us and our clients. Climate change could expose us to financial risk either through its physical (e.g., climate or weather-related events) or transitional (e.g., changes in climate policy or in the
          regulation of financial institutions with respect to climate change risks) effects. Transition risks could be further accelerated by the increasingly frequent occurrence of changes in the physical climate, such as hurricanes, floods, wildfires
          and extreme temperatures.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Physical and transition climate risks could have a financial impact on us either directly, through our physical assets, costs and operations, or indirectly, through our
          financial relationships with our clients. These risks are varied and include, but are not limited to, the risk of declines in asset values, including in connection with our real estate investments, credit risk associated with loans and other
          credit exposures to our clients, business risk, including loss of revenues associated with reducing exposure to traditional business with clients that do not have a credible transition plan, decreased assets under management if such clients
          decide to move assets away, increased defaults and reallocation of capital as a result of changes in global policies, and regulatory risk, including ongoing legislative and regulatory uncertainties and changes regarding climate risk management
          and best practices. Additionally, the risk of reduced availability of insurance, operational risk related to buildings we own and our infrastructure, the risk of significant interruptions to business operations, as well as the need to make
          changes in response to those consequences are further examples of climate-related risks.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">At our 2020 Investor Day, we announced our ambition to achieve net zero emissions from our financing activities no later than 2050, with intermediate emissions goals to be
          defined for 2030, as part of our approach to align our financing with the objectives of the Paris Agreement. In order to reach these ambitions and goals, or any other related aspirations we may set from time to time, we will need to incorporate
          climate considerations into our business strategy, products and services and our financial and non-financial risk management processes, and may incur significant cost and effort in doing so. Further, national and international standards, industry
          and scientific practices, regulatory requirements and market expectations regarding Environmental, Social and Governance (&#8220;<font style="font-weight: bold;">ESG</font>&#8221;) initiatives are under continuous development, may rapidly change and are
          subject to different interpretations. There can be no assurance that these standards, practices, regulatory requirements and market expectations will not be interpreted differently than our interpretation when setting our related goals and
          ambitions, or change in a manner that substantially increases the cost or effort for us to achieve such goals and ambitions, or that our goals and ambitions may prove to be considerably more difficult or even impossible to achieve. This may be
          exacerbated if we choose or are required to accelerate our goals and ambitions based on national or international regulatory developments or stakeholder expectations. In addition, data relating to ESG, including climate change, may be limited in
          availability and variable in quality and consistency, which may limit our ability to perform robust climate-related risk analyses and realize our ambitions and goals.</div>
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        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Given the growing volume of nascent climate and sustainability-related laws, rules and regulations, increasing demand from various stakeholders for environmentally
          sustainable products and services and regulatory scrutiny, we and other financial institutions may be subject to increasing litigation, enforcement and contract liability risks in connection with climate change, environmental degradation and
          other ESG-related issues. In addition, our reputation and client relationships may be damaged by our or our clients&#8217; involvement in certain business activities associated with climate change or as a result of negative public sentiment, regulatory
          scrutiny or reduced investor and stakeholder confidence due to our response to climate change and our climate change strategy. If we fail to appropriately measure and manage the various risks we face as a result of climate change, fail to achieve
          the goals and ambitions we have set (or can only do so at a significant expense to our business), or fail to adapt our strategy and business model to the changing regulatory requirements and market expectations, our reputation, business, results
          of operations and financial condition could be materially adversely affected. For information on our risk management procedures and regulatory developments relating to climate change, refer to &#8220;<font style="font-style: italic;">Key risk
            developments&#8212;Climate change</font>&#8221; and &#8220;<font style="font-style: italic;">Climate-related risks</font>&#8221; in &#8220;<font style="font-style: italic;">III&#8212;Treasury, Risk, Balance sheet and Off-balance sheet&#8212;Risk management</font>&#8221; in the 2021 Annual
          Report and to &#8220;<font style="font-style: italic;">I&#8212;Credit Suisse results&#8212;Credit Suisse&#8212;Regulatory developments and proposals</font>&#8221; in the First Quarter 2022 Report.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">LEGAL, REGULATORY AND REPUTATIONAL RISKS</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Our exposure to legal liability is significant.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We face significant legal risks in our businesses, and the volume and amount of damages claimed in litigation, regulatory proceedings and other adversarial proceedings
          against financial services firms continue to increase in many of the principal markets in which we operate.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We and our subsidiaries are subject to a number of material legal proceedings, regulatory actions and investigations, and an adverse result in one or more of these
          proceedings could have a material adverse effect on our operating results for any particular period, depending, in part, on our results for such period. For information relating to these and other legal and regulatory proceedings involving our
          investment banking and other businesses, refer to &#8220;<font style="font-style: italic;">Note 40&#8212;Litigation</font>&#8221; in &#8220;<font style="font-style: italic;">VI&#8212;Consolidated financial statements&#8212;Credit Suisse Group</font>&#8221; in the 2021 Annual Report and &#8220;<font style="font-style: italic;">Note 33&#8212;Litigation</font>&#8221; in &#8220;<font style="font-style: italic;">III&#8212;Condensed consolidated financial statements&#8212;unaudited</font>&#8221; in each of the 2022 Quarterly Reports.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">It is inherently difficult to predict the outcome of many of the legal, regulatory and other adversarial proceedings involving our businesses, particularly those cases in
          which the matters are brought on behalf of various classes of claimants, seek damages of unspecified or indeterminate amounts or involve novel legal claims. Management is required to establish, increase or release reserves for losses that are
          probable and reasonably estimable in connection with these matters, all of which requires the application of significant judgment and discretion. For further information, refer to &#8220;<font style="font-style: italic;">Critical accounting estimates</font>&#8221;
          in &#8220;<font style="font-style: italic;">II&#8212;Operating and financial review</font>&#8221; and &#8220;<font style="font-style: italic;">Note 1&#8212;Summary of significant accounting policies</font>&#8221; in &#8220;<font style="font-style: italic;">VI&#8212;Consolidated financial
            statements&#8212;Credit Suisse Group</font>&#8221; in the 2021 Annual Report.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Our business is highly regulated, and existing, new or changed laws, rules and regulations may adversely affect our business and ability to execute our strategic plans.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">In many areas of our business, we are subject to extensive laws, rules and regulations by governments, governmental agencies, supervisory authorities and self-regulatory
          organizations in Switzerland, the EU, the UK, the U.S. and other jurisdictions in which we operate. We have in the past faced, and expect to continue to face, increasingly extensive and complex laws, rules, regulations and regulatory scrutiny and
          possible enforcement actions. In recent years, costs related to our compliance with these requirements and the penalties and fines sought and imposed on the financial services industry by regulatory authorities have increased significantly. We
          expect such increased regulation and enforcement to continue to increase our costs, including, but not limited to, costs related to compliance, systems and operations, and to negatively affect our ability to conduct certain types of business.
          These increased costs and negative impacts on our business could adversely affect our profitability and competitive position. These laws, rules and regulations often serve to limit our activities, including through the application of increased or
          enhanced capital, leverage and liquidity requirements, the implementation of additional capital surcharges for risks related to operational, litigation, regulatory and similar matters, customer protection and market conduct regulations,
          anti-money laundering, anti-corruption and anti-bribery laws, rules and regulations, and direct or indirect restrictions on the businesses in which we may operate or invest. Such limitations can have a negative effect on our business and our
          ability to implement strategic initiatives. To the extent we are required to divest certain businesses, we could incur losses, as we may be forced to sell such</div>
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        <div style="text-align: justify; margin-bottom: 12pt;">businesses at a discount, which in certain instances could be substantial, as a result of both the constrained timing of such sales and the possibility that other financial institutions are
          liquidating similar investments at the same time.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Since 2008, regulators and governments have focused on the reform of the financial services industry, including enhanced capital, leverage and liquidity requirements, changes
          in compensation practices (including tax levies) and measures to address systemic risk, including ring-fencing certain activities and operations within specific legal entities. These regulations and requirements could require us to reduce assets
          held in certain subsidiaries or inject capital or other funds into or otherwise change our operations or the structure of our subsidiaries and the Group. Differences in the details and implementation of such regulations may further negatively
          affect us, as certain requirements are currently not expected to apply equally to all of our competitors or to be implemented uniformly across jurisdictions.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Moreover, as a number of these requirements are currently being finalized and implemented, their regulatory impact may further increase in the future and their ultimate
          impact cannot be predicted at this time. For example, the Basel III reforms are still being finalized and implemented and/or phased in, as applicable. The additional requirements related to minimum regulatory capital, leverage ratios and
          liquidity measures imposed by Basel III, as implemented in Switzerland, together with more stringent requirements imposed by the Swiss legislation and their application by FINMA, and the related implementing ordinances and actions by our
          regulators, have contributed to our decision to reduce RWA and the size of our balance sheet, and could potentially affect our business, impact our access to capital markets and increase our funding costs. In addition, various reforms in the
          U.S., including the &#8220;Volcker Rule&#8221; and derivatives regulation, have imposed, and will continue to impose, new regulatory duties on certain of our operations. These requirements have contributed to our decision to exit certain businesses
          (including a number of our private equity businesses) and may lead us to exit other businesses. Recent Commodity Futures Trading Commission, SEC and Fed rules and proposals have materially increased, or could in the future materially increase,
          the operating costs, including margin requirements, compliance, information technology and related costs, associated with our derivatives businesses with U.S. persons, while at the same time making it more difficult for us to operate a
          derivatives business outside the U.S. Further, in 2014, the Fed adopted a final rule under the Dodd-Frank Wall Street Reform and Consumer Protection Act that introduced a new framework for regulation of the U.S. operations of foreign banking
          organizations such as ours. Implementation is expected to continue to result in us incurring additional costs and to affect the way we conduct our business in the U.S., including through our U.S. intermediate holding company. Further, current and
          possible future cross-border tax regulation with extraterritorial effect, such as the U.S. Foreign Account Tax Compliance Act, the Organisation for Economic Co-operation and Development global minimum tax rate levels and rules (&#8220;<font style="font-weight: bold;">Pillar Two</font>&#8221;) and other bilateral or multilateral tax treaties and agreements on the automatic exchange of information in tax matters, impose detailed reporting obligations and increased compliance and
          systems-related costs on our businesses, and, as concerns the Pillar Two system of global minimum tax, may affect our tax rate. In addition, the U.S. tax reform enacted on December&#160;22, 2017 introduced substantial changes to the U.S. tax system,
          including the lowering of the corporate tax rate and the introduction of the U.S. base erosion and anti-abuse tax. Additionally, implementation of regulations such as the Capital Requirements Directive V (&#8220;<font style="font-weight: bold;">CRD V</font>&#8221;)


          in the EU, the FinSA in Switzerland, and other reforms may negatively affect our business activities. Whether or not the FinSA, together with supporting or implementing ordinances and regulations, will be deemed equivalent to the Markets in
          Financial Instruments Directive (Directive 2014/65/EU), as amended (&#8220;<font style="font-weight: bold;">MiFID&#160;II</font>&#8221;), currently remains uncertain. Swiss banks, including us, may accordingly be limited from participating in certain businesses
          regulated by MiFID&#160;II. Finally, we expect that total loss-absorbing capacity (&#8220;<font style="font-weight: bold;">TLAC</font>&#8221;) requirements, currently in force in Switzerland, the U.S. and in the UK, as well as in the EU and which are being
          finalized in many other jurisdictions, as well as new requirements and rules with respect to the internal total loss-absorbing capacity (&#8220;<font style="font-weight: bold;">iTLAC</font>&#8221;) of global systemically important banks (G-SIBs) and their
          operating entities, may increase our cost of funding and restrict our ability to deploy capital and liquidity on a global basis as needed once the TLAC and iTLAC requirements are implemented across all relevant jurisdictions. For further
          information on recent changes to tax law, refer to &#8220;<font style="font-style: italic;">I&#8212;Credit Suisse results&#8212;Credit Suisse&#8212;Regulatory developments and proposals</font>&#8221; in the Third Quarter 2022 Report.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We are subject to economic sanctions laws and regulatory requirements of various countries. These laws and regulatory requirements generally prohibit or restrict transactions
          involving certain countries/territories and parties. Our costs of monitoring and complying with frequent, complex, and potentially conflicting changes to applicable economic sanctions laws and regulatory requirements have increased and there is
          an increased risk that we may not identify and stop prohibited activities before they occur or that we may otherwise fail to comply with economic sanctions laws and regulatory requirements. Any conduct targeted by or in violation of a sanctions
          program could subject us to significant civil and potentially criminal penalties or other adverse consequences. For</div>
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        <div style="text-align: justify; margin-bottom: 12pt;">further information, refer to &#8220;<font style="font-style: italic;">Sanctions</font>&#8221; in &#8220;<font style="font-style: italic;">I&#8212;Information on the company&#8212;Regulation and supervision&#8212;Recent
            regulatory developments and proposals&#8212;US</font>&#8221; in the 2021 Annual Report.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We expect the financial services industry and its members, including us, to continue to be affected by the significant uncertainty over the scope and content of regulatory
          reform in 2022 and beyond, in particular, uncertainty in relation to the future U.S. regulatory agenda, which includes a variety of proposals to change existing regulations or the approach to regulation of the financial industry as well as
          potential new tax policy, and potential changes in regulation following the UK&#8217;s withdrawal from the EU and the results of European national elections. In addition, we face regulatory and legislative uncertainty in the U.S. and other
          jurisdictions with respect to climate change, including with respect to any new or changing disclosure requirements. Changes in laws, rules or regulations, or in their interpretation or enforcement, or the implementation of new laws, rules or
          regulations, may adversely affect our results of operations.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Despite our best efforts to comply with applicable laws, rules and regulations, a number of risks remain, particularly in areas where applicable laws, rules or regulations
          may be unclear or inconsistent across jurisdictions or where governments, regulators or international bodies, organizations or unions revise their previous guidance or courts overturn previous rulings. Additionally, authorities in many
          jurisdictions have the power to bring administrative or judicial proceedings against us, which could result in, among other things, suspension or revocation of our licenses, cease and desist orders, fines, civil penalties, criminal penalties,
          deferred prosecution agreements or other disciplinary action. Such matters have in the past and could in the future materially adversely affect our results of operations and seriously harm our reputation.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">For a description of our regulatory regime and a summary of some of the significant regulatory and government reform proposals affecting the financial services industry,
          refer to &#8220;<font style="font-style: italic;">I&#8212;Information on the company&#8212;Regulation and supervision</font>&#8221; in the 2021 Annual Report. For information regarding our current regulatory framework and expected changes to this framework affecting
          capital and liquidity standards, refer to &#8220;<font style="font-style: italic;">Liquidity and funding management</font>&#8221; and &#8220;<font style="font-style: italic;">Capital management</font>,&#8221; each in &#8220;<font style="font-style: italic;">III&#8212;Treasury,
            Risk, Balance sheet and Off-balance sheet</font>&#8221; in the 2021 Annual Report and &#8220;<font style="font-style: italic;">II&#8212;Treasury, risk, balance sheet and off-balance sheet</font>&#8221; in each of the 2022 Quarterly Reports.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Damage to our reputation can significantly harm our businesses, including our competitive position and business prospects.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We suffered reputational harm as a result of the Archegos and SCFF matters and may suffer further reputational harm in the future as a result of these matters or other
          events. Our ability to attract and retain customers, clients, investors and employees, and conduct business transactions with our counterparties, can be adversely affected to the extent our reputation is damaged. Harm to our reputation can arise
          from various sources, including if our comprehensive procedures and controls fail, or appear to fail, to prevent employee misconduct, negligence and fraud, to address conflicts of interest and breach of fiduciary obligations, to produce
          materially accurate and complete financial and other information, to identify credit, liquidity, operational and market risks inherent in our business or to prevent adverse legal or regulatory actions or investigations. Additionally, our
          reputation can be harmed by compliance failures, information or security breaches, personal data breaches, cyber incidents, technology failures, challenges to the suitability or reasonableness of our particular trading or investment
          recommendations or strategies and the activities of our customers, clients, counterparties and third parties. Actions by the financial services industry generally or by certain members or individuals in the industry also can adversely affect our
          reputation. In addition, our reputation may be negatively impacted by our ESG practices and disclosures, including those related to climate change and how we address ESG concerns in our business activities, or by our clients&#8217; involvement in
          certain business activities associated with climate change. Adverse publicity or negative information in the media, posted on social media by employees, or otherwise, whether or not factually correct, can also adversely impact our business
          prospects or financial results, which risk can be magnified by the speed and pervasiveness with which information is disseminated through those channels.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">A reputation for financial strength and integrity is critical to our performance in the highly competitive environment arising from globalization and convergence in the
          financial services industry, and our failure to address, or the appearance of our failing to address, these and other issues gives rise to reputational risk that can harm our business, results of operations and financial condition. Failure to
          appropriately address any of these issues could also give rise to additional regulatory restrictions and legal risks, which may further lead to reputational harm. For further information, refer to &#8220;<font style="font-style: italic;">Reputational
            risk</font>&#8221; in &#8220;<font style="font-style: italic;">III&#8212;Treasury, Risk, Balance sheet and Off-balance sheet&#8212;Risk management&#8212;Risk coverage and management</font>&#8221; in the 2021 Annual Report.</div>
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        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Resolution proceedings and resolution planning requirements may affect our shareholders and creditors.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Pursuant to Swiss banking laws, FINMA has broad powers and discretion in the case of resolution proceedings with respect to a Swiss bank, such as Credit Suisse AG or Credit
          Suisse (Schweiz) AG, and to a Swiss parent company of a financial group, such as CSG. These broad powers include the power to initiate restructuring proceedings with respect to Credit Suisse AG, Credit Suisse (Schweiz) AG or CSG and, in
          connection therewith, cancel the outstanding equity of the entity subject to such proceedings, convert such entity&#8217;s debt instruments and other liabilities into equity and/or cancel such debt instruments and other liabilities, in each case, in
          whole or in part, and stay (for a maximum of two business days) certain termination and netting rights under contracts to which such entity is a party, as well as the power to order protective measures, including the deferment of payments, and
          institute liquidation proceedings with respect to Credit Suisse AG, Credit Suisse (Schweiz) AG or CSG. The scope of such powers and discretion and the legal mechanisms that would be applied are subject to development and interpretation.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We are currently subject to resolution planning requirements in Switzerland, the U.S., the EU and the UK and may face similar requirements in other jurisdictions. If a
          resolution plan is determined by the relevant authority to be inadequate, relevant regulations may allow the authority to place limitations on the scope or size of our business in that jurisdiction, require us to hold higher amounts of capital or
          liquidity, require us to divest assets or subsidiaries or to change our legal structure or business to remove the relevant impediments to resolution.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">For information regarding the current resolution regime under Swiss, U.S., EU and UK banking laws as they apply to us, refer to &#8220;<font style="font-style: italic;">Switzerland&#8212;Resolution


            regime</font>,&#8221; &#8220;<font style="font-style: italic;">US&#8212;Resolution regime</font>,&#8221; &#8220;<font style="font-style: italic;">EU&#8212;Resolution regime</font>&#8221; and &#8220;<font style="font-style: italic;">UK&#8212;Resolution regime</font>,&#8221; each in &#8220;<font style="font-style: italic;">I&#8212;Information on the company&#8212;Regulation and supervision&#8212;Regulatory Framework</font>&#8221; in the 2021 Annual Report.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Changes in monetary policy are beyond our control and difficult to predict.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We are affected by the monetary policies adopted by the central banks and regulatory authorities of Switzerland, the U.S. and other countries. The actions of the SNB and
          other central banking authorities directly impact our cost of funds for lending, capital raising and investment activities and may impact the value of financial instruments we hold and the competitive and operating environment for the financial
          services industry. Many central banks, including the Fed, have implemented significant changes to their monetary policy or have experienced significant changes in their management and may implement or experience further changes. We cannot predict
          whether these changes will have a material adverse effect on us or our operations. In addition, changes in monetary policy may affect the credit quality of our customers. Any changes in monetary policy are beyond our control and difficult to
          predict.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Legal restrictions on our clients may reduce the demand for our services.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We may be materially affected not only by regulations applicable to us as a financial services company, but also by regulations and changes in enforcement practices
          applicable to our clients. Our business could be affected by, among other things, existing and proposed tax legislation, antitrust and competition policies, corporate governance initiatives and other governmental regulations and policies, and
          changes in the interpretation or enforcement of existing laws and rules that affect business and the financial markets. For example, focus on tax compliance and changes in enforcement practices could lead to further asset outflows from our wealth
          management businesses.</div>
        <div style="text-align: left; margin-bottom: 12pt; font-weight: bold;">COMPETITION</div>
        <div style="text-align: left; margin-bottom: 12pt; font-weight: bold;">We face intense competition.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We face intense competition in all sectors of the financial services markets and for the products and services we offer. Consolidation through mergers, acquisitions,
          alliances and cooperation, including as a result of financial distress, has increased competitive pressures. Competition is based on many factors, including the products and services offered, pricing, distribution systems, customer service, brand
          recognition, perceived financial strength and the willingness to use capital to serve client needs. Consolidation has created a number of firms that, like us, have the ability to offer a wide range of products and services, from loans and deposit
          taking to brokerage, investment banking and asset management services. Some of these firms may be able to offer a broader range of products than we do, or offer such products at more competitive prices. Current market conditions have resulted in
          significant changes in the competitive landscape in our industry as many institutions have merged,</div>
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        <div style="text-align: justify; margin-bottom: 12pt;">altered the scope of their business, declared bankruptcy, received government assistance or changed their regulatory status, which will affect how they conduct their business. In addition,
          current market conditions have had a fundamental impact on client demand for products and services. Some new competitors in the financial technology sector have sought to target existing segments of our businesses that could be susceptible to
          disruption by innovative or less regulated business models. Emerging technology, including robo-advising services, digital asset services and other financial products and services, may also result in further competition in the markets in which we
          operate, for example, by allowing e-commerce firms or other companies to provide products and services similar to ours at a lower price or in a more competitive manner in terms of customer convenience. We may face a competitive disadvantage if
          these services or our other competitors are subject to different and, in certain cases, less restrictive legal and/or regulatory requirements. We can give no assurance that our results of operations will not be adversely affected.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">We must recruit and retain highly skilled employees.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Our performance is largely dependent on the talents and efforts of highly skilled individuals. Competition for qualified employees is intense and the hiring market in the
          financial services and other industries has been and is expected to continue to be extremely competitive. In addition, the impact of COVID-19 on evolving workforce norms, practices and expectations, as well as persistent labor shortages, could
          adversely affect our ability to recruit and retain employees. We have devoted considerable resources to recruiting, training and compensating employees. Our continued ability to compete effectively in our businesses depends on our ability to
          attract new employees and to retain and motivate our existing employees. The continued public focus on compensation practices in the financial services industry, and related regulatory changes, may have an adverse impact on our ability to attract
          and retain highly skilled employees. In particular, limits on the amount and form of executive compensation imposed by regulatory initiatives, including the Swiss Ordinance Against Excessive Compensation with respect to Listed Stock Corporations
          of November&#160;20, 2013, as amended (the &#8220;<font style="font-weight: bold;">Compensation Ordinance</font>&#8221;), or any successor legislation thereof in Switzerland and the Capital Requirements Directive IV (as amended by CRD V) in the EU and the UK,
          could potentially have an adverse impact on our ability to retain certain of our most highly skilled employees and hire new qualified employees in certain businesses. Additionally, following the Archegos and SCFF matters, we announced a reduction
          in our Group variable compensation pool for 2021 compared to the prior year. Decreases in compensation, as well as matters impacting our financial results or reputation, can negatively impact our ability to retain employees and recruit new
          talent.</div>
        <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">We face competition from new technologies.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Our businesses face competitive challenges from new technologies, including new trading technologies and trends towards direct access to automated and electronic markets with
          low or no fees and commissions, and the move to more automated trading platforms. Such technologies and trends may adversely affect our commission and trading revenues, exclude our businesses from certain transaction flows, reduce our
          participation in the trading markets and the associated access to market information and lead to the establishment of new and stronger competitors. We have made, and may continue to be required to make, significant additional expenditures to
          develop and support new trading systems or otherwise invest in technology to maintain our competitive position.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The evolution of internet-based financial solutions has also facilitated growth in new technologies, such as cryptocurrency and blockchain, which may disrupt the financial
          services industry and require us to commit further resources to adapt our products and services. Wider adoption of such emerging technologies may also increase our costs for complying with evolving laws, rules and regulations, and if we are not
          timely or successful in adapting to evolving consumer or market preferences, our business and results of operations may be adversely affected. Additionally, as we develop new products and services that involve emerging technologies, we may face
          new risks if they are not designed and governed adequately.</div>
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        <div style="margin-bottom: 10pt; font-weight: bold;">REASONS FOR THE OFFERING AND USE OF PROCEEDS<a name="REASONSFORTHEOFFERINGANDU"><!--Anchor--></a></div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">REASONS FOR THE OFFERING</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">CSG proposes the Offering to increase the Group&#8217;s and Credit Suisse AG&#8217;s CET1 ratio and support the Group&#8217;s strategic transformation.</div>
        <div style="text-align: justify; margin-bottom: 10pt; font-weight: bold;">USE OF PROCEEDS</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Assuming all Rights are exercised or all Rump Shares are sold at the offer price of CHF&#160;2.52 per Offered Share, the gross proceeds of the Offering are expected to be
          approximately CHF&#160;2,241 million. On the same basis, the net proceeds of the Offering are expected to be approximately CHF&#160;2,163 million after deduction of (i)&#160;estimated commissions, fees and expenses and (ii)&#160;the Swiss issue tax (<font style="font-style: italic;">Emissionsabgabe</font>) of 1% of the proceeds of the Offering (less allowable deductions) that will be payable by CSG. CSG intends to use the net proceeds from the Offering to further strengthen the Group&#8217;s and
          Credit Suisse AG&#8217;s capital base and support the Group&#8217;s strategic transformation.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">See also <font style="color: #000000;">&#8220;</font><font style="font-style: italic; color: #000000;">Capitalization and Indebtedness</font><font style="color: #000000;">&#8221; for an
            overview of the consolidated capitalization and indebtedness of CSG </font>as of September&#160;30, 2022 on an adjusted basis to reflect the issuance of the Non-Preemptive Shares and the Offered Shares as if such issuances had occurred on
          September&#160;30, 2022.</div>
        <div><br>
        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">21</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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            <div><br>
            </div>
          </div>
        </div>
        <div style="margin-bottom: 10pt; font-weight: bold;">DIVIDENDS AND OTHER DISTRIBUTIONS<a name="DIVIDENDSANDOTHERDISTRIBU"><!--Anchor--></a></div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">CSG&#8217;s dividend payment policy seeks to provide investors with an efficient form of capital distribution relative to earnings. CSG&#8217;s dividend payment policy is to pay a cash
          dividend per Share, subject to performance and the decision of the Board and approval of CSG&#8217;s shareholders in due course. In connection, with its recently announced strategy, CSG intends to advance a capital distribution policy with a nominal
          dividend over 2022 through 2024 and meaningful dividends from 2025 onwards.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In order for CSG to declare and pay distributions, the distribution must be approved by shareholders holding an absolute majority of the votes represented at the general
          meeting of shareholders. The Board may propose distributions in the form of an ordinary dividend or in the form of a distribution of cash or property that is based upon a reduction of CSG&#8217;s share capital recorded in the commercial register.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Ordinary dividends may be paid only if CSG has sufficient distributable profits from previous years or freely distributable reserves to allow the distribution of a dividend,
          in each case, as presented on CSG&#8217;s annual standalone (i.e., parent company) balance sheet prepared in accordance with the provisions governing preparation of financial statements for Swiss banks and other requirements of Swiss law. CSG&#8217;s auditor
          must confirm that a proposal made by the Board to shareholders regarding the appropriation of CSG&#8217;s available earnings conforms to the requirements of the Swiss Code of Obligations and CSG&#8217;s articles of association (<font style="font-style: italic;">Statuten</font>). Furthermore, in order for CSG to pay dividends to its shareholders, a shareholders&#8217; meeting must approve the payment of such dividend by the absolute majority of the votes represented. Dividends paid on Shares are
          subject to Swiss withholding tax, currently at a rate of 35%, except if paid out of reserves from capital contributions (<font style="font-style: italic;">Reserven aus Kapitaleinlagen</font>). <font style="color: #000000;">If CSG pays a dividend
            on the Shares out of reserves from capital contributions, it will be required to simultaneously pay a dividend on the Shares out of profit or reserves (other than reserves from capital contributions) of at least the same amount. </font>As of
          December&#160;31, 2021, CSG had reserves from capital contributions in the amount of CHF&#160;26,674 million.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">A distribution of cash or property that is based upon a reduction of CSG&#8217;s share capital requires a special audit report confirming that the claims of CSG&#8217;s creditors remain
          fully covered by CSG&#8217;s assets despite the reduction in the share capital recorded in the commercial register. Upon approval by the general meeting of the shareholders of the capital reduction, the Board must give public notice of the capital
          reduction in the Swiss Official Gazette of Commerce (<font style="font-style: italic;">Schweizerisches Handelsamtsblatt</font>) three times and notify CSG&#8217;s creditors that they may request, within two months of the third publication, satisfaction
          of or security for their claims. Distributions of cash or property that are based upon a capital reduction are not subject to Swiss withholding tax.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">All Shares are equally entitled to dividends and other distributions paid by CSG with respect to the Shares, if any. Holders of Offered Shares will be entitled to any
          dividends and any other distributions declared and paid or made on Shares after the Offered Shares have been registered in the commercial register of the Canton of Zurich, including any such distribution for the financial year 2022. For further
          information, see &#8220;<font style="font-style: italic;">Description of CSG&#8217;s Share Capital and the Shares</font>.&#8221;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Reflecting our holding company structure, CSG is not an operating company and holds investments in subsidiaries. It is therefore reliant on the dividends of its subsidiaries
          to pay shareholder dividends and service its long-term debt. The subsidiaries of CSG are generally subject to legal restrictions on the amount of dividends they can pay. The amount of dividends paid by operating subsidiaries is determined after
          consideration of the expectations for future results and growth of the operating businesses.</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">22</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div class="BRPFPageHeader">
            <div><br>
            </div>
          </div>
        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Dividends paid by CSG per Share for the last five financial years ended December&#160;31 are set out in the table below:</div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z44bcca85c1bb4db194bf1ba3bf305846">

            <tr>
              <td style="width: 73.93%; vertical-align: top;">
                <div style="font-weight: bold;">Dividend per Share</div>
              </td>
              <td style="width: 9.19%; vertical-align: top;">
                <div style="font-weight: bold;">CHF</div>
              </td>
              <td style="width: 10.36%; vertical-align: top;">
                <div style="font-weight: bold;">USD<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
              </td>
              <td style="width: 6.51%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 73.93%; vertical-align: top;">
                <div>2021<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt" class="TRGRRTFtoHTMLTab">&#160;</font></div>
              </td>
              <td style="width: 9.19%; vertical-align: top;">
                <div>0.10</div>
              </td>
              <td style="width: 10.36%; vertical-align: top;">
                <div>0.093266</div>
              </td>
              <td style="width: 6.51%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 73.93%; vertical-align: top;">
                <div>2020<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt" class="TRGRRTFtoHTMLTab">&#160;</font></div>
              </td>
              <td style="width: 9.19%; vertical-align: top;">
                <div>0.10</div>
              </td>
              <td style="width: 10.36%; vertical-align: top;">
                <div>0.101659</div>
              </td>
              <td style="width: 6.51%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 73.93%; vertical-align: top;">
                <div>2019<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt" class="TRGRRTFtoHTMLTab">&#160;</font></div>
              </td>
              <td style="width: 9.19%; vertical-align: top;">
                <div>0.2776</div>
              </td>
              <td style="width: 10.36%; vertical-align: top;">
                <div>0.2761</div>
              </td>
              <td style="width: 6.51%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 73.93%; vertical-align: top;">
                <div>2018<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt" class="TRGRRTFtoHTMLTab">&#160;</font></div>
              </td>
              <td style="width: 9.19%; vertical-align: top;">
                <div>0.2625</div>
              </td>
              <td style="width: 10.36%; vertical-align: top;">
                <div>0.257126</div>
              </td>
              <td style="width: 6.51%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 73.93%; vertical-align: top;">
                <div>2017<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt" class="TRGRRTFtoHTMLTab">&#160;</font></div>
              </td>
              <td style="width: 9.19%; vertical-align: top;">
                <div>0.25</div>
              </td>
              <td style="width: 10.36%; vertical-align: top;">
                <div>0.249</div>
              </td>
              <td style="width: 6.51%; vertical-align: top;">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; margin-bottom: 10pt;">___________</div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z849f7be8b9284d16889f37605b4445e1">

            <tr>
              <td style="width: 36pt; vertical-align: top; font-size: 8pt;">(1)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-size: 8pt;">Represents the distribution on each ADS.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z56f483ba03f24ba8985a63fc789a0968">

            <tr>
              <td style="width: 36pt; vertical-align: top; font-size: 8pt;">(2)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-size: 8pt;">50% of the distribution was paid out of reserves from capital contributions, and 50% was paid out of retained earnings.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 8pt;" class="DSPFListTable" id="z60991ad8b87f443a90d779b1c18e8293">

            <tr>
              <td style="width: 36pt; vertical-align: top; font-size: 8pt;">(3)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-size: 8pt;">Distribution out of reserves from capital contributions.</div>
              </td>
            </tr>

        </table>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">For further information relating to dividends, refer to &#8220;<font style="font-style: italic;">III&#8212;Treasury, Risk, Balance sheet and Off-balance sheet&#8212;Capital
            management&#8212;Dividends and dividend policy</font>&#8221; in the 2021 Annual Report, on page&#160;137 thereof.</div>
        <div><br>
        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">23</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div class="BRPFPageHeader">
            <div><br>
            </div>
          </div>
        </div>
        <div style="margin-bottom: 10pt; font-weight: bold;">CAPITALIZATION AND INDEBTEDNESS<a name="CAPITALIZATIONANDINDEBTED"><!--Anchor--></a></div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The table below shows an unaudited overview of the consolidated capitalization and indebtedness of CSG as of September&#160;30, 2022, (i)&#160;on an actual basis, (ii)&#160;on an adjusted
          basis to reflect the issuance of the Non-Preemptive Shares as if such issuance had occurred on September&#160;30, 2022 and receipt of estimated net proceeds in the amount of approximately CHF&#160;1,730 million therefrom, and (iii)&#160;on an adjusted basis to
          reflect the issuance of the Non-Preemptive Shares and the Offered Shares as if such issuance had occurred on September&#160;30, 2022 and receipt of estimated net proceeds in the amount of approximately CHF&#160;3,877 million therefrom. The table below does
          not reflect the impact from the intended exercise of the Rights allotted to treasury shares, which are held by CSG and its subsidiaries.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">For purposes of the table below, which is presented on a consolidated basis, (i)&#160;net proceeds from the issuance of the Non-Preemptive Shares reflect the deduction of (x)&#160;the
          Swiss issue tax (<font style="font-style: italic;">Emissionsabgabe</font>) of 1% of the proceeds of the issuance of the Non-Preemptive Shares (less allowable deductions) that will be payable by CSG, and (y)&#160;the Swiss issue tax (<font style="font-style: italic;">Emissionsabgabe</font>) that will be payable in connection with the subsequent contribution to the capital of Credit Suisse AG using the net proceeds received by CSG from the issuance of the Non-Preemptive Shares,
          and (ii)&#160;net proceeds from the issuance of the Offered Shares reflect the deduction of (x)&#160;estimated commissions, fees and expenses, and the Swiss issue tax (<font style="font-style: italic;">Emissionsabgabe</font>) of 1% of the proceeds of the
          Offering (less allowable deductions) that will be payable by CSG and (y)&#160;the Swiss issue tax (<font style="font-style: italic;">Emissionsabgabe</font>) that will be payable in connection with the subsequent contribution to the capital of Credit
          Suisse AG using the net proceeds received by CSG from the issuance of the Offered Shares.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">On November&#160;14, 2022, CSG issued USD&#160;2 billion in aggregate principal amount of 9.016% Fixed Rate/Floating Rate Senior Callable Notes due 2033 under its U.S. Senior Debt
          Program and EUR&#160;3 billion in aggregate principal amount of 7.750% Fixed Rate Reset Senior Callable Notes due 2029 under its Medium Term Note Programme. These notes are senior unsecured bail-in debt instruments that are eligible to count towards
          CSG&#8217;s Swiss gone concern requirement. The issuance of these notes is not reflected in the table below.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Potential investors should read the table below along with CSG&#8217;s consolidated financial statements and notes thereto.</div>
        <br>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">
          <table cellspacing="0" cellpadding="0" class="cfttable" id="z8aa718c11de24d78a538a7e87a90af30" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">&#160;</td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td colspan="2" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center;">
                  <div style="font-size: 8pt; font-weight: bold;">As of<br>
                    September&#160;30, 2022<br>
                    (actual, prior to the issuance of the Non-Preemptive Shares and the Offered Shares)</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td colspan="2" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; font-size: 8pt; font-weight: bold; text-align: center;"> As of<br>
                  September 30, 2022<br>
                  (adjusted, after the issuance of the Non-Preemptive Shares and prior to the issuance of the Offered Shares)<br>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; font-weight: bold;"><br>
                </td>
                <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; font-weight: bold;">As of<br>
                  September 30, 2022<br>
                  (adjusted, after the issuance of the Non-Preemptive Shares and the Offered Shares) <br>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">&#160;</td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td colspan="2" style="border-bottom: 1px solid; vertical-align: bottom; font-size: 8pt; font-weight: bold; text-align: center;"> Credit Suisse Group AG<br>
                </td>
                <td class="cftguttercell" colspan="1" style="vertical-align: bottom; text-align: center; width: 1%;">&#160;</td>
                <td colspan="2" style="border-bottom: 1px solid; vertical-align: bottom; font-size: 8pt; font-weight: bold; text-align: center;"> Credit Suisse Group AG<br>
                </td>
                <td class="cftguttercell" colspan="1" style="vertical-align: bottom; text-align: center; width: 1%;">&#160;</td>
                <td style="border-bottom: 1px solid; vertical-align: bottom; font-size: 8pt; font-weight: bold; text-align: center;"> <br>
                </td>
                <td style="border-bottom: 1px solid; vertical-align: bottom; font-size: 8pt; font-weight: bold; text-align: center;"> Credit Suisse Group AG <br>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;" rowspan="1">&#160;</td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;" rowspan="1">&#160;</td>
                <td colspan="2" style="border-bottom: 1px solid; vertical-align: bottom; font-size: 8pt; font-weight: bold; text-align: center;" rowspan="1">(in CHF millions)<br>
                </td>
                <td class="cftguttercell" colspan="1" style="vertical-align: bottom; text-align: center; width: 1%;" rowspan="1">&#160;</td>
                <td colspan="2" style="border-bottom: 1px solid; vertical-align: bottom; font-size: 8pt; font-weight: bold; text-align: center;" rowspan="1">(in CHF millions)<br>
                </td>
                <td class="cftguttercell" colspan="1" style="vertical-align: bottom; text-align: center; width: 1%;" rowspan="1">&#160;</td>
                <td style="border-bottom: 1px solid; vertical-align: bottom; font-size: 8pt; font-weight: bold; text-align: center;" rowspan="1"><br>
                </td>
                <td style="border-bottom: 1px solid; vertical-align: bottom; font-size: 8pt; font-weight: bold; text-align: center;" rowspan="1">(in CHF millions) <br>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="font-size: 8pt; font-weight: bold;">Debt:</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" style="vertical-align: top;"><br>
                </td>
                <td valign="bottom" style="vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 10.6pt; font-size: 8pt;">Short&#8209;term borrowings<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">17,798</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">17,798</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">17,798</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 19.6pt; font-size: 8pt;">of which guaranteed<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">0</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">0</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">0</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 19.6pt; font-size: 8pt;">of which secured<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">0</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">0</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">0</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 10.6pt; font-size: 8pt;">Long&#8209;term debt<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">162,605</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">162,605</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">162,605</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 19.6pt; font-size: 8pt;">of which guaranteed<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">0</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">0</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">0</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 19.6pt; font-size: 8pt;">of which secured<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">19,359</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">19,359</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">19,359</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%; padding-bottom: 1px;">
                  <div style="margin-left: 10.6pt; font-size: 8pt;">All other liabilities<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;">&#160;</td>
                <td class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; text-align: right;">
                  <div style="font-size: 8pt;">476,446</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; border-bottom: 1px solid rgb(0, 0, 0);">
                  <div style="font-size: 8pt;">476,446</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; border-bottom: 1px solid rgb(0, 0, 0);">
                  <div style="font-size: 8pt;">476,446</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 10.6pt; font-size: 8pt;">Total liabilities<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">656,849</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">656,849</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">656,849</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="font-size: 8pt; font-weight: bold;">Equity:</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">&#160;</td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">&#160;</td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 10.6pt; font-size: 8pt;">Shareholders&#8217; Equity:</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">&#160;</td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">&#160;</td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 10.6pt; font-size: 8pt;">Common shares<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">106</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">124</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">160</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 10.6pt; font-size: 8pt;">Additional paid&#8209;in capital<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">34,770</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">36,482</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">38,593</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 10.6pt; font-size: 8pt;">Retained earnings<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">25,025</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">25,025</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">25,025</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 10.6pt; font-size: 8pt;">Treasury shares, at cost<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">(359)</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">(359)</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">(359)</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="text-indent: -9pt; margin-left: 19.6pt; font-size: 8pt;">Accumulated other comprehensive income/(loss)<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; font-size: 8pt; text-align: right;">(16,275)<br>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; font-size: 8pt; text-align: right;">(16,275)</td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 8pt;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 8pt;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; font-size: 8pt; text-align: right;">(16,275)</td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 10.6pt; font-size: 8pt;">Total shareholders&#8217; equity<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; font-size: 8pt; text-align: right;">43,267<br>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; font-size: 8pt; text-align: right;">44,997<br>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 8pt;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 8pt;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; font-size: 8pt; text-align: right;">47,144<br>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 10.6pt; font-size: 8pt;">Noncontrolling interests<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; font-size: 8pt; text-align: right;">242<br>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; font-size: 8pt; text-align: right;">242<br>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 8pt;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 8pt;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; font-size: 8pt; text-align: right;">242<br>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="margin-left: 10.6pt; font-size: 8pt;">Total Equity<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; font-size: 8pt; text-align: right;">43,509<br>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; font-size: 8pt; text-align: right;">45,239<br>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 8pt;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 8pt;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%; font-size: 8pt; text-align: right;">47,386<br>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 34%;">
                  <div style="font-size: 8pt;">Total capitalization and indebtedness<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt;">&#160;</font></div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">700,358</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">702,088</div>
                </td>
                <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;">
                  <div style="font-size: 8pt;">704,235</div>
                </td>
              </tr>

          </table>
        </div>
        <br>
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        <div style="margin-bottom: 10pt; font-weight: bold;">CREDIT SUISSE<a name="CREDITSUISSE"><!--Anchor--></a></div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">CREDIT SUISSE AT A GLANCE</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Much of what is disclosed in this section is historical financial and operational information (including detailed descriptions of our current business divisions) that does
          not reflect the comprehensive changes in our strategic direction and organizational structure that were announced on October&#160;27, 2022. This historical information, particularly as it relates to our current business divisions, is subject to change
          as we implement our new strategy. See &#8220;<font style="font-style: italic;">&#8212;Strategic Review</font>&#8221; below for more information.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Credit Suisse</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Our strategy builds on our core strengths: our position as a leading wealth manager, our specialist investment banking and asset management capabilities and our strong
          presence in our home market of Switzerland. We seek to follow a balanced approach with our wealth management activities, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in
          Asia Pacific and other emerging markets. Founded in 1856, we today have a global reach with operations in about 40 countries and, as of September&#160;30, 2022, had 51,680 employees from over 150 different nations. Our broad footprint can help us to
          generate a more geographically balanced stream of revenues and net new assets and allows us to capture growth opportunities around the world. We serve our clients through four divisions&#8212;Wealth Management, Investment Bank, Swiss Bank and Asset
          Management.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Wealth Management</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Wealth Management division offers comprehensive wealth management and investment solutions and tailored financing and advisory services to ultra-high-net-worth (&#8220;<font style="font-weight: bold;">UHNW</font>&#8221;) and high-net-worth (&#8220;<font style="font-weight: bold;">HNW</font>&#8221;) individuals and external asset managers. Our wealth management business is among the industry&#8217;s leaders in our target markets. Wealth
          Management serves our clients along a client-centric and needs-based delivery model, utilizing the broad spectrum of our global capabilities, including those offered by the Investment Bank and Asset Management divisions. Wealth Management serves
          our clients through coverage areas addressing the geographies of Switzerland, Europe, Middle East and Africa (&#8220;<font style="font-weight: bold;">EMEA</font>&#8221;), Asia Pacific and Latin America.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Investment Bank</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Investment Bank division offers a broad range of financial products and services focused on client-driven businesses and also supports our Wealth Management division and
          our clients. The Investment Bank&#8217;s suite of products and services includes global securities sales, trading and execution, capital raising and advisory services. The Investment Bank&#8217;s clients include financial institutions, corporations,
          governments, sovereigns, UHNW and institutional investors, such as pension funds and hedge funds, financial sponsors and private individuals around the world. The division delivers our investment banking capabilities globally through regional and
          local teams based in both major developed and emerging market centers. Our integrated business model enables the Investment Bank division to deliver high value, customized solutions that leverage the expertise offered across the Group and that
          help our clients unlock capital and value in order to achieve their strategic goals.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Swiss Bank</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Swiss Bank division offers comprehensive advice and a wide range of financial solutions to private, corporate and institutional clients primarily domiciled in our home
          market of Switzerland. Our private clients business has a leading franchise in Switzerland, including HNW, affluent, retail and small business clients. In addition, the Swiss Bank provides consumer finance services through our subsidiary BANK-now
          and the leading credit card brands through our investment in Swisscard AECS GmbH. The Swiss Bank&#8217;s corporate and institutional clients business serves large corporate clients, small and medium-sized enterprises (SMEs), institutional clients,
          financial institutions and commodity traders.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Asset Management</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Asset Management division offers investment solutions and services globally to a broad range of clients, including pension funds, governments, foundations and endowments,
          corporations and individuals, with a strong presence in our Swiss home market. Backed by our global presence, Asset Management offers active and passive solutions in traditional investments as well as alternative investments. Asset Management
          applies ESG criteria at various points in the investment process with an active sustainability offering, which invests in line with the Credit Suisse Sustainable Investment Framework, and passive ESG index and exchange traded funds.</div>
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        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">SIGNIFICANT SUBSIDIARIES</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">CSG is a holding company for financial services companies. For a list of CSG&#8217;s significant (direct and indirect) subsidiaries, see &#8220;<font style="font-style: italic;">Note 41</font>&#8212;<font style="font-style: italic;">Significant subsidiaries and equity method investments</font>&#8221; in &#8220;<font style="font-style: italic;">VI&#8212;Consolidated financial statements</font>&#8212;<font style="font-style: italic;">Credit Suisse Group</font>&#8221; in the
          2021 Annual Report, on pages&#160;425 to 428 thereof.</div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">STRATEGIC REVIEW</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">On October&#160;27, 2022, we announced a series of decisive actions intended to create a simpler, more focused and more stable bank built around client needs. The announcement
          followed a strategic review conducted by the Board and the Executive Board of CSG (the &#8220;<font style="font-weight: bold;">Executive Board</font>&#8221;), resulting in a radical restructuring of the Investment Bank, an accelerated cost transformation,
          and strengthened and reallocated capital.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Over the next three years, we expect to follow a clear execution roadmap and:</div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za537ec17392a4657a5285779fb4baadb">

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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">Radically restructure the Investment Bank to significantly reduce RWA, targeting a reduction in RWAs of approximately 40% pre-Basel III reforms by 2025. The restructured Investment Bank is intended to
                    contain the Markets business and CS First Boston. The Markets business would include the strongest and most relevant aspects of the Group&#8217;s trading capabilities while remaining committed to serving institutional clients and closely
                    aligning with the Wealth Management and Swiss Bank businesses in offering its capabilities in cross-asset investor products as well as equities, foreign exchange and rates access. The Investment Bank&#8217;s capital markets and advisory
                    activities would, after a transition period, lead to the creation of CS First Boston.</div>
                </td>
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        </div>
        <div>
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                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">Make progress on the agreement to transfer a significant portion of SPG to certain entities and funds managed by affiliates of Apollo Global Management (such entities and funds, &#8220;<font style="font-weight: bold;">Apollo</font>&#8221;). See also &#8220;&#8212;<font style="font-style: italic;">Recent Developments</font>&#8212;<font style="font-style: italic;">Securitized Products Group</font>&#8221; below.</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdb6c0f4f558a467db1a7bb35944bc6b5">

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                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">Accelerate cost reductions, reducing the Group&#8217;s cost base by 15%, or approximately CHF&#160;2.5 billion, to approximately CHF&#160;14.5 billion in 2025, with an interim target of CHF&#160;15.8 billion in 2023. Our cost
                    base target is measured using adjusted operating expenses at constant 2022 foreign exchange rates and on a constant perimeter, before the impact of the SPG transaction and other divestments.</div>
                </td>
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          </table>
        </div>
        <div>
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                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">Strengthen and reallocate capital. The Group is targeting a CET1 ratio pre-Basel III reform of at least 13% throughout the transformation from 2023 through 2025, and a CET1 ratio pre-Basel III reform of
                    more than 13.5% by the end of 2025. CSG announced its intention to raise capital with gross proceeds of approximately CHF 4 billion through the issuance of new Shares, of which the Offering is a part. In addition, we intend to allocate
                    almost 80% of capital to Wealth Management, Swiss Bank, Asset Management and Markets by 2025, excluding the Corporate Center.</div>
                </td>
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          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1429c68f967d4fc3affff9014385837c">

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                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">Create a Capital Release Unit (&#8220;<font style="font-weight: bold;">CRU</font>&#8221;), which will comprise (i)&#160;a Non-Core Unit to accelerate the run-down of non-strategic, low-return businesses and markets, to
                    release capital, targeting a reduction of approximately 60% of RWAs (excluding operational risk RWA) and approximately 55% of leverage exposure by the end of 2025 and (ii)&#160;SPG.</div>
                </td>
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          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z80de426532ae42fa9cabba2ca921efc6">

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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">Target a Group Return on tangible equity (&#8220;<font style="font-weight: bold;">RoTE</font>&#8221;) of approximately 6% by 2025 and a Core Results RoTE of more than 8% by 2025. Core Results includes the results of
                    the divisions and the Corporate Center and excludes the results of the CRU.</div>
                </td>
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          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z096b0d45ec8447b8ad0174051646bfa7">

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                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">Advance a capital distribution policy with a nominal dividend over 2022 through 2024 and meaningful dividends from 2025 onwards.</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> <br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">We estimate restructuring charges, software and real estate impairments in connection with the transformation of CHF&#160;2.9 billion over a period from 4Q22 to 2024. The
          transformation is intended to be funded through divestments, exits, the announced capital actions and existing resources. We anticipate that revenues and income for the Investment Bank will be materially reduced by the planned transfer of the
          majority of SPG&#8217;s assets from the Group, as well as by the targeted reduction in capital for the Investment Bank.</div>
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        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">RECENT DEVELOPMENTS</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Outlook</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Group has commenced rapid implementation of actions to create the new Credit Suisse, consistent with the strategic plans detailed on October&#160;27, 2022. These decisive
          measures are expected to result in a radical restructuring of the Investment Bank, an accelerated cost transformation, and strengthened and reallocated capital, each of which are progressing at pace. On November&#160;23, 2022, the Group informed the
          market on its updated outlook for 4Q22 (see the Form 6-K dated November&#160;23, 2022).</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In its Outlook statement on October&#160;27, 2022, the Group highlighted that the challenging economic and market environment has had an adverse impact on client activity across
          its divisions. In particular, the Investment Bank has been impacted by the substantial industry-wide slowdown in capital markets and reduced activity in the Sales &amp; Trading businesses, exacerbating normal seasonal declines, and the Group&#8217;s
          relative underperformance. In addition, client activity remains subdued in the Wealth Management and Swiss Bank divisions, and the Group expects these market conditions to continue in the coming months.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As previously disclosed, Credit Suisse began experiencing deposit and net asset outflows in the first two weeks of October 2022 at levels that substantially exceeded the
          rates incurred in the third quarter of 2022 (&#8220;<font style="font-weight: bold;">3Q22</font>&#8221;). At the Group level, as of November&#160;11, 2022, net asset outflows were approximately 6% of assets under management at the end of 3Q22. In Wealth
          Management, these outflows have reduced substantially from the elevated levels of the first two weeks of October 2022 although have not yet reversed and were approximately 10% of assets under management at the end of 3Q22. In the Swiss Bank,
          these client balances have stabilized and were approximately 1% of assets under management at the end of 3Q22.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As announced on October&#160;27, 2022, these outflows have led the Group to partially utilize liquidity buffers at the Group and legal entity level, and while the Group has fallen
          below certain legal entity-level regulatory requirements, the core requirements of the liquidity coverage ratio (&#8220;<font style="font-weight: bold;">LCR</font>&#8221;) and the net stable funding ratio (NSFR) at the Group level have been maintained at all
          times. The Group&#8217;s average daily LCR for the fourth quarter through November&#160;18, 2022 was 140%, with spot rates broadly stabilizing between ~120% to ~130% since the October&#160;27, 2022 results announcement.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Credit Suisse is executing on its strategic commitments to strengthen its balance sheet and reduce risk, engaging clients proactively and accessing the public and private
          markets, including the recent issuance of approximately USD&#160;5&#160;billion through two bond sales (see &#8220;&#8212;<font style="font-style: italic;">Recent Notes Offerings</font>&#8221; below), which saw strong investor demand. Key steps taken include the recently
          announced sale of a significant part of SPG and other related financing businesses to Apollo, which together with the contemplated sale of other portfolio assets to third-party investors is expected to reduce SPG assets from USD&#160;75 billion<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1</sup><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">)</sup>
          to approximately USD&#160;20 billion by mid-2023. These actions and other deleveraging measures including, but not limited to, in the non-core businesses, are expected to strengthen liquidity ratios and reduce the funding requirements of the Group.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Group is also making strides in reducing the Group&#8217;s cost base<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2</sup><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">)</sup> by 15%, or CHF ~2.5 billion, in 2025, including through a targeted reduction of
          CHF ~1.2 billion for 2023. Actions to reduce headcount by 5% have been initiated, with reductions to other non-compensation related costs currently underway. As previously announced on October&#160;27, 2022, the Group would expect to incur
          restructuring charges, software and real estate impairments of CHF ~250 million as part of the cost of this strategic transformation in 4Q22.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Strategic actions taken to significantly reduce the Group&#8217;s risk profile are expected to be reflected in near-term financial results. Consistent with the Group&#8217;s announced
          divestment strategy, the Group disposed of its shareholding in Allfunds Group plc, and expects to record a CHF ~75 million loss related to the sale. Lower deposits and assets under management are expected to lead to reduced net interest income
          and recurring commissions and fees; this is likely to lead to a loss for Wealth Management in 4Q22. Together with the adverse revenue impact from the previously disclosed exit from the Group&#8217;s non-core businesses and exposures, and as previously
          announced on October&#160;27, 2022, the Group would expect the Investment Bank and the Group to report a substantial loss before taxes in 4Q22, of up to CHF ~1.5 billion for the Group. The Group&#8217;s actual results will depend on a number of factors
          including the Investment Bank&#8217;s performance for the remainder of the quarter, the continued exit of non-core positions, any goodwill impairments, and the outcome of certain other actions, including potential real estate sales. The Group confirms
          the capital ratio guidance communicated on October&#160;27,</div>
        <div><br>
          <br>
          <hr noshade="noshade" align="left" style="text-align: left; background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
          <div style="text-align: justify;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"></sup><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-size: 8pt;">As of September&#160;30, 2022.</font></div>
        </div>
        <div>
          <div style="text-align: left;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-size: 8pt;">The Group&#8217;s cost base is measured using adjusted
              operating expenses at constant foreign exchange rates and on constant perimeter, before impact of SPG &amp; other divestments.</font></div>
        </div>
        <br>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
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            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">27</font></div>
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        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="text-align: justify; margin-bottom: 10pt;">2022. The Group is targeting a 2025 pre-Basel&#160;III reform CET1 ratio of more than 13.5%, while expecting to maintain a pre-Basel&#160;III reform CET1 ratio of at least 13% throughout the
          transformation period in 2023 through 2025.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Group continues to execute on the decisive strategic actions detailed on October&#160;27, 2022, to create a simpler, more focused and more stable bank &#8211; a new Credit Suisse.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Securitized Products Group</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">On November&#160;15, 2022, the Group announced that it had entered into definitive transaction agreements to sell a significant portion of its SPG and other relating financing
          businesses to Apollo. As part of the transaction, Apollo has agreed to acquire a significant part of the Group&#8217;s SPG portfolio assets. Closing of the transaction is expected in the first half of 2023, subject to customary closing conditions and
          regulatory approvals. For more information on the SPG transaction, refer to the Form 6-K dated November&#160;15, 2022.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Recent Notes Offerings</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">On November&#160;14, 2022, CSG issued USD&#160;2 billion in aggregate principal amount of 9.016% Fixed Rate/Floating Rate Senior Callable Notes due 2033 under its U.S. Senior Debt
          Program and EUR&#160;3 billion in aggregate principal amount of 7.750% Fixed Rate Reset Senior Callable Notes due 2029 under its Medium Term Note Programme. These notes are senior unsecured bail-in debt instruments that are eligible to count towards
          CSG&#8217;s Swiss gone concern requirement.</div>
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        <div style="margin-bottom: 10pt; font-weight: bold;">LITIGATION<a name="LITIGATION"><!--Anchor--></a></div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">CSG and its subsidiaries are involved in a number of judicial, regulatory and arbitration proceedings concerning matters arising in connection with the conduct of their
          businesses. Some of these proceedings have been brought on behalf of various classes of claimants and seek damages of material and/or indeterminate amounts.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">After taking into account its litigation provisions, the Group believes, based on currently available information and advice of counsel, that the results of its legal
          proceedings, in the aggregate, will not have a material adverse effect on the Group&#8217;s financial condition. However, in light of the inherent uncertainties of such proceedings, including those brought by regulators or other governmental
          authorities, the ultimate cost to the Group of resolving such proceedings may exceed current litigation provisions and any excess may be material to its operating results for any particular period, depending, in part, upon the operating results
          for such period. For information regarding certain of such proceedings and the Group&#8217;s litigation provisions as of the end of 2021, see &#8220;<font style="font-style: italic;">Note&#160;40</font>&#8212;<font style="font-style: italic;">Litigation</font>&#8221; in &#8220;<font style="font-style: italic;">VI&#8212;Consolidated financial statements</font>&#8212;<font style="font-style: italic;">Credit Suisse Group</font>&#8221; in the 2021 Annual Report, on pages&#160;413 to 425 thereof. For information regarding developments in certain of
          such proceedings since the publication of the 2021 Annual Report and the Group&#8217;s litigation provisions as of March&#160;31, 2022, June&#160;30, 2022, and September&#160;30, 2022, see &#8220;<font style="font-style: italic;">Note&#160;33&#8212;Litigation</font>&#8221; in &#8220;<font style="font-style: italic;">III&#8212;Condensed consolidated financial statements&#8212;unaudited</font>&#8221; in each of the First Quarter 2022 Report, the Second Quarter 2022 Report and the Third Quarter 2022 Report, respectively, on pages&#160;137 to 139,
          pages&#160;141 to 143 and pages&#160;145 to 147, respectively, thereof.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">On November 23, 2022, the US Federal Reserve communicated its intention to progress its investigation of Credit Suisse in relation to Archegos through a resolution that
          includes monetary penalties and certain remedial measures.&#160; The resolution of this matter is subject to ongoing dialogue with the US Federal Reserve and other regulators.&#160; See also &#8220;<font style="font-style: italic;">Risk Factors&#8212;Archegos and SCFF
            Related Risks&#8212;Significant negative consequences of the Archegos and supply chain finance funds matters</font>.&#8221;</div>
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        <div style="margin-bottom: 10pt; font-weight: bold;">EMPLOYEE PARTICIPATION IN CSG<a name="EMPLOYEEPARTICIPATIONINCS"><!--Anchor--></a></div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">For information about the variable incentive compensation instruments we grant to our employees, see &#8220;<font style="font-style: italic;">V&#8212;Compensation&#8212;Group compensation</font>&#8221;
          in the 2021 Annual Report, on pages 258 to 266 thereof, and &#8220;<font style="font-style: italic;">Note&#160;26&#8212;Employee deferred compensation</font>&#8221; in &#8220;<font style="font-style: italic;">III&#8212;Condensed consolidated financial statements&#8212;unaudited</font>&#8221;
          in the Third Quarter 2022 Report, on pages&#160;111 to 112 thereof.</div>
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        <div style="margin-bottom: 10pt; font-weight: bold;">PATENTS, LICENSES OR FINANCING CONTRACTS<a name="PATENTSLICENSESORFINANCIN"><!--Anchor--></a></div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">CSG does not have any patents, licenses or financing contracts upon which it is dependent.</div>
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        <div style="margin-bottom: 10pt; font-weight: bold;">PRINCIPAL ESTABLISHMENTS<a name="PRINCIPALESTABLISHMENTS"><!--Anchor--></a></div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">CSG&#8217;s registered and principal executive office, which it owns, is located at Paradeplatz 8, 8001 Zurich, Switzerland. As of September&#160;30, 2022, we maintained 304 offices and
          branches worldwide, of which approximately 51% were located in Switzerland.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As of September&#160;30, 2022, approximately 16% of our worldwide offices and branches were owned directly by us, with the remainder being held under commercial leases. The book
          value of the ten largest owned properties was approximately CHF&#160;0.6 billion as of September&#160;30, 2022. None of our principal facilities are subject to mortgages or other security interests granted to secure indebtedness to certain financial
          institutions.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">We believe that our current facilities are adequate for existing operations. Management regularly evaluates our operating facilities for suitability, renovation and
          maintenance. See also &#8220;<font style="font-style: italic;">X&#8212;Additional information&#8212;Other information&#8212;Property and equipment</font>&#8221; in the 2021 Annual Report, on page 589 thereof.</div>
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        <div style="margin-bottom: 10pt; font-weight: bold;">CERTAIN CORPORATE GOVERNANCE ITEMS<a name="CERTAINCORPORATEGOVERNANC"><!--Anchor--></a></div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Group&#8217;s corporate governance reflects our commitment to safeguarding the interests of our stakeholders. Our corporate governance complies with internationally accepted
          standards, and we recognize the importance of good corporate governance. We know that transparent disclosure of our governance helps stakeholders assess the quality of the Group&#8217;s corporate governance and assists investors in their investment
          decisions.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">We fully adhere to Swiss corporate law and the principles set out in the Swiss Code of Best Practice for Corporate Governance, dated August&#160;28, 2014 (the &#8220;<font style="font-weight: bold;">Swiss Corporate Governance Code</font>&#8221;), including its appendix stipulating recommendations on the process for setting compensation for the Board and the Executive Board. We regularly monitor developments in
          corporate governance and guidelines, regulations and best practice standards in all jurisdictions relevant to our business operations. For information on corporate governance developments in 2021 and our corporate governance framework, see &#8220;<font style="font-style: italic;">Corporate Governance developments</font>&#8221; and &#8220;<font style="font-style: italic;">Corporate Governance framework</font>&#8221; in &#8220;<font style="font-style: italic;">IV&#8212;Corporate Governance&#8212;Overview</font>&#8221; in the 2021
          Annual Report, on pages 184 to 190 thereof.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In connection with the Shares&#8217; primary listing on the SIX Swiss Exchange (the &#8220;<font style="font-weight: bold;">SIX</font>&#8221;), CSG is subject to the SIX Directive on
          Information Relating to Corporate Governance, dated June&#160;18, 2021 (the &#8220;<font style="font-weight: bold;">SIX Corporate Governance Directive</font>&#8221;) (see &#8220;<font style="font-style: italic;">The SIX Swiss Exchange</font>&#8221;). The Shares are also
          listed on the New York Stock Exchange (the &#8220;<font style="font-weight: bold;">NYSE</font>&#8221;) in the form of American Depositary Shares (&#8220;<font style="font-weight: bold;">ADSs</font>&#8221;) and certain of Credit Suisse AG&#8217;s exchange traded notes are
          listed on the Nasdaq Stock Market (the &#8220;<font style="font-weight: bold;">Nasdaq</font>&#8221;). As a result, CSG is subject to certain U.S. rules and regulations. CSG adheres to the NYSE&#8217;s and Nasdaq&#8217;s corporate governance listing standards, with a few
          exceptions where the rules are not applicable to foreign private issuers. For more information, refer to &#8220;<font style="font-style: italic;">IV&#8212;Corporate Governance&#8212;Additional information</font>&#8221; in the 2021 Annual Report, on page 235 thereof.</div>
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        <div style="margin-bottom: 10pt; font-weight: bold;">EMPLOYEES<a name="EMPLOYEES"><!--Anchor--></a></div>
        <div style="text-align: justify; text-indent: 18pt; margin-top: 6pt; margin-bottom: 6pt;">As of December&#160;31, 2021, we had 50,390 employees worldwide, of which 16,440 were in Switzerland and 33,950 were abroad. As of December&#160;31, 2020, we had 49,190
          employees, of which 16,320 were in Switzerland and 32,870 were abroad. As of December&#160;31, 2019, we had 48,110 employees, of which 16,240 were in Switzerland and 31,870 were abroad. As of September&#160;30, 2022, we had 51,680 employees worldwide.
          Employee numbers as of December&#160;31, 2021, 2020 and 2019 have been revised to conform to the current presentation of headcount.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-top: 6pt; margin-bottom: 6pt;">Our corporate titles include managing director, director, vice president, assistant vice president and non-officer staff. The majority of our employees do not
          belong to unions. We have not experienced any significant strikes, work stoppages or labor disputes in recent years. We consider our relations with our employees to be good.</div>
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        <div style="margin-bottom: 10pt; font-weight: bold;">REGULATION AND SUPERVISION<a name="REGULATIONANDSUPERVISION"><!--Anchor--></a></div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Our operations are regulated by authorities in each of the jurisdictions in which we have offices, branches and subsidiaries.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Central banks and other bank regulators, financial services agencies, securities agencies and exchanges and self-regulatory organizations are among the regulatory authorities
          that oversee our businesses. There is coordination among many of our regulators, in particular among our primary regulators in Switzerland, the U.S., the EU and the UK as well as in the Asia Pacific region.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The supervisory and regulatory regimes of the countries in which we operate determine to some degree our ability to expand into new markets, the services and products that we
          are able to offer in those markets and how we structure specific operations.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Governments and regulatory authorities around the world have responded to the challenging market conditions by proposing and enacting numerous reforms of the regulatory
          framework for financial services firms such as the Group. In particular, a number of reforms have been proposed and enacted by regulators, including our primary regulators, which could potentially have a material effect on our business. These
          regulatory developments could result in additional costs or limit or restrict the way we conduct our business. Although we expect regulatory-related costs and capital requirements for all major financial services firms (including the Group) to
          continue to be high, we cannot predict the likely impact of proposed regulations on our businesses or results. We believe, however, that overall we are well positioned for regulatory reform, as we have reduced risk and maintained strong capital,
          funding and liquidity. Refer to &#8220;<font style="font-style: italic;">Risk factors</font>&#8221; for further information on risks that may arise relating to regulation. For information on recent regulatory developments and the principal regulatory
          structures that apply to our operations, see &#8220;<font style="font-style: italic;">I&#8212;Information on the company&#8212;Regulation and supervision</font>&#8221; in the 2021 Annual Report, on pages&#160;18 to 37 thereof and &#8220;<font style="font-style: italic;">I&#8212;Credit
            Suisse results&#8212;Credit Suisse&#8212;Regulatory developments and proposals</font>&#8221; in the First Quarter 2022 Report, the Second Quarter 2022 Report and the Third Quarter 2022 Report on pages&#160;13 to 14, page&#160;15 and pages&#160;18 to 19, respectively, thereof.</div>
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        <div style="margin-bottom: 10pt; font-weight: bold;">BOARD OF DIRECTORS AND EXECUTIVE MANAGEMENT<a name="BOARDOFDIRECTORSANDEXECUT"><!--Anchor--></a></div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">BOARD OF DIRECTORS</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">CSG&#8217;s articles of association (<font style="font-style: italic;">Statuten</font>) (the &#8220;<font style="font-weight: bold;">Articles</font>&#8221;) provide that the Board shall
          consist of a minimum of seven members. As of the date of this document, the Board consists of 13 members.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Members (including the chairman of the Board (the &#8220;<font style="font-weight: bold;">Chairman</font>&#8221;)) are appointed to and removed from the Board exclusively by a
          shareholders&#8217; resolution. The maximum term of office for a member of the Board is one year. In this context, a year means the time period between one annual shareholders&#8217; meeting (<font style="font-style: italic;">ordentliche Generalversammlung</font>)
          (an &#8220;<font style="font-weight: bold;">AGM</font>&#8221;) and the end of the next or, if a member is elected by shareholders at an extraordinary shareholders&#8217; meeting (<font style="font-style: italic;">ausserordentliche</font>&#160;<font style="font-style: italic;">Generalversammlung</font>) (an &#8220;<font style="font-weight: bold;">EGM</font>&#8221;), between such EGM and the end of the next AGM. Re-election is allowed. In accordance with CSG&#8217;s Organizational Guidelines and Regulations (<font style="font-style: italic;">Organisationsreglement</font>) (the &#8220;<font style="font-weight: bold;">Organizational Regulations</font>&#8221;), members of the Board must retire after having served on the Board for 12 years. However, under certain
          circumstances, the Board may extend the limit of terms of office for a particular Board member for a maximum of three additional years.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Board is entrusted with the ultimate direction of CSG&#8217;s business and the supervision of the persons entrusted with CSG&#8217;s management. It represents CSG towards third
          parties and manages all matters that have not been delegated to another body of CSG by law, the Articles or by other regulations. The Board&#8217;s duties include:</div>
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                  <div style="text-align: justify;">the overall direction, supervision and control of CSG and its management;</div>
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                  <div style="text-align: justify;">the determination of the principal organization and governance of the Group;</div>
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                  <div style="text-align: justify;">the establishment of general accounting, financial control and planning principles and policies;</div>
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                  <div style="text-align: justify;">the preparation and approval of the annual report, annual financial statements and the agenda of the AGM, including the proposal by the Board;</div>
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                  <div style="text-align: justify;">the appointment or dismissal of the members of the Executive Board, including the Group CEO, and granting them collective signing authority, exercisable jointly by two, for CSG;</div>
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                  <div style="text-align: justify;">the appointment or dismissal of the Head of Internal Audit, and the appointment of the regulatory auditor upon proposal by the Audit Committee (as defined below);</div>
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                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the approval of the principles for the business policy, the objectives, the strategy, the annual business and financial plans, including the principal risk management strategy for the business activities;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6f424777806944f6953e57ebf1a5af28">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the approval of the risk management framework, annual risk appetite and the overall risk limits, including appetites for the strategic risk objectives, as well as specific appetites covering financial and
                    non-financial risk;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8c85d04f56ca4f888d9d83f39cff938a">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the approval of liquidity risk tolerances, the liquidity management strategies and key liquidity policies, including the contingency funding plan;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1de03523d1914d919473065aa9868ec0">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the approval of country risk appetites upon proposal by the Risk Committee if not otherwise delegated;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z94f45d596dda41139855e0d565376f39">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the performance and documentation of a systematic risk analysis as the basis for an appropriate internal control system and regular review of its appropriateness and efficiency;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z22680a3fd37f47be80a35c3b50dfd3c7">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the supervision of the implementation of appropriate processes and measures designed to ensure that employees on all levels are aware of and understand their responsibilities and tasks with regard to
                    internal control system processes;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd17d375b2e2e483f9c2db1d72cea54af">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the approval of the compensation principles, the Group&#8217;s compensation policy and key elements of management and employee compensation plans and amendments thereto and of significant fringe benefit or
                    welfare plans;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z465b3e5dee7a4527961b6314b2eb2907">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the proposal of the total amount of compensation for the Board and the Executive Board for approval by the AGM in advance or retrospectively, as the case may be;</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">36</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div class="BRPFPageHeader">
            <div><br>
            </div>
          </div>
        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7f8eb614d95d4dafa8c1788ea0b117a9">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the approval of the compensation of individual members of the Board and the Executive Board, which is within the total amount of compensation for the Board and the Executive Board, respectively, approved
                    by the AGM;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2248d02864f848518d9b332e177068d7">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the approval of the overall variable compensation pool and the key sub&#8209;pools;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc238dd2904eb4fd9b1fb2b0719376cfa">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the appointment and dismissal of the chairs and the members of the board of directors of the most important subsidiaries of CSG and the approval of their remuneration, subject to local law and regulations
                    and in line with internal guidelines;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z78aa7b08db4f4467be64d565770c6a13">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the approval of the recovery and resolution plans of the Group and the most important subsidiaries of CSG in accordance with regulatory requirements;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2ade8df8e3a3498a921ae0ad63da127f">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the approval of actions and transactions, and the receipt of reports, as set out in the Organizational Regulations; and</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6c836ffd4abe4cea85878a81661a9d40">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the non&#8209;delegable and inalienable duties and powers of the Board pursuant to the Swiss Code of Obligations, the Federal Act on Merger, Demerger, Transformation and Transfer of Assets of October&#160;3, 2002,
                    as amended (the &#8220;<font style="font-weight: bold;">Swiss Merger Act</font>&#8221;), any other applicable laws and regulations and the Articles, as well as other duties and powers as provided for in the Articles, the Organizational Guidelines
                    and other internal regulations.</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> <br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Board elects from among its members one or more vice&#8209;chairs (&#8220;<font style="font-weight: bold;">Vice-Chairman</font>&#8221;), and also appoints one or more secretaries who needs
          not be a member of the Board. In accordance with the Organizational Regulations, the Board holds at least six ordinary meetings per year, with extraordinary meetings being held upon request by the Chairman or any other member of the Board.
          Resolutions of the Board are passed by way of the majority of the votes cast. In the case of a tie, the acting Chairman has the deciding vote. To validly pass a resolution, a majority of the members of the Board must be present. Participation in
          meetings of the Board via telephone or video conference is generally permitted, but attendance in person is preferred. The Chairman may seek a resolution in writing for administrative and routine matters, matters of increased urgency, and matters
          with respect to which the core content has already been discussed by the Board, in each case provided that within the period stipulated for the vote on such resolution, no member of the Board requests that the matter be discussed in a meeting. No
          quorum is required for confirmation resolutions and amendments of the Articles in connection with capital increases or measures related thereto pursuant to articles&#160;651a, 652e, 652g and 653g of the Swiss Code of Obligations.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Composition of the Board of Directors</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The members of the Board as of the date of this document are listed below. As of the date hereof, the composition of the Board of Directors of CSG and the Board of Directors
          of Credit Suisse AG is identical. For purposes of the table below only, references to the &#8220;Board&#8221; are to both the Board of Directors of CSG and the Board of Directors of Credit Suisse AG, except as otherwise specified.</div>
        <div><br>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zc6dfb2c506634ed8ad57373d7412d4c4">

              <tr>
                <td style="width: 25.36%; vertical-align: bottom;">
                  <div style="border-bottom: 0.5pt solid black;">
                    <div style="font-size: 8pt; font-weight: bold;">Name</div>
                    <div>&#160;</div>
                  </div>
                </td>
                <td style="width: 24.48%; vertical-align: bottom;">
                  <div style="border-bottom: 0.5pt solid black;">
                    <div style="text-align: center; font-size: 8pt; font-weight: bold;">Business address</div>
                    <div>&#160;</div>
                  </div>
                </td>
                <td style="width: 50.16%; vertical-align: bottom;">
                  <div style="border-bottom: 0.5pt solid black;">
                    <div style="text-align: center; font-size: 8pt; font-weight: bold;">Position held</div>
                    <div>&#160;</div>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 25.36%; vertical-align: top;">
                  <div style="text-align: justify;">Axel P.&#160;Lehmann</div>
                </td>
                <td style="width: 24.48%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div>Paradeplatz 8</div>
                  <div>8001 Zurich</div>
                  <div>Switzerland</div>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2021&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Chair of the Board (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Board (2021&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Chair of the Governance and Nominations Committee (2022&#160;-&#160;present, member since 2021)</div>
                  <div style="margin-left: 8.5pt;">Chair ad interim of the Risk Committee (2022, member 2021&#160;-&#160;2022)</div>
                  <div style="margin-left: 8.5pt;">Member of the Conduct and Financial Crime Control Committee (2021&#160;-&#160;2022)</div>
                  <div style="margin-left: 8.5pt;">Member of the Audit Committee (2021&#160;-&#160;2022)</div>
                  <div>2009&#160;-&#160;2021: UBS</div>
                  <div style="margin-left: 8.5pt;">Member of the Group Executive Board of UBS Group AG (2016&#160;-&#160;2021)</div>
                  <div style="margin-left: 8.5pt;">President Personal &amp; Corporate Banking and President UBS Switzerland (2018&#160;-&#160;2021)</div>
                </td>
              </tr>

          </table>
          <br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">37</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zc6dfb2c506634ed8ad57373d7412d4c4">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">
                  <div style="text-align: justify;"><br>
                  </div>
                </td>
                <td style="width: 24.48%; vertical-align: top;"><br>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="margin-left: 8.5pt;">President Personal &amp; Corporate Banking and President UBS Switzerland (2018&#160;-&#160;2021)</div>
                  <div style="margin-left: 8.5pt;">Group Chief Operating Officer (2016&#160;-&#160;2017)</div>
                  <div style="margin-left: 8.5pt;">Member of the Board of Directors of UBS AG (2009&#160;-&#160;2015) and UBS Group AG (2014&#160;-&#160;2015), Member of the Risk Committee (2009&#160;-&#160;2015) and the Governance and Nominating Committee (2011&#160;-&#160;2013)</div>
                  <div>1996&#160;-&#160;2015: Zurich Insurance Group Ltd.</div>
                  <div style="margin-left: 8.5pt;">Member of the Group Executive Committee (2002&#160;-&#160;2015)</div>
                  <div style="margin-left: 8.5pt;">Group Chief Risk Officer (2009&#160;-&#160;2015), with additional responsibility for Group IT (2008&#160;-&#160;2010), Regional Chairman Europe (2011&#160;-&#160;2015) and Regional Chairman Europe, Middle East and Africa (2015&#160;-&#160;2015),
                    Chairman of the Board of Farmers Group Inc., CA (2011&#160;-&#160;2015)</div>
                  <div style="margin-left: 8.5pt;">CEO, North America (2004&#160;-&#160;2007)</div>
                  <div style="margin-left: 8.5pt;">CEO, Continental Europe (2002&#160;-&#160;2004) and Europe General Insurance (2004&#160;-&#160;2004)</div>
                  <div style="margin-left: 8.5pt;">CEO, Northern Europe (2001&#160;-&#160;2002) and Zurich Group Germany (2002&#160;-&#160;2003)</div>
                  <div style="margin-left: 8.5pt;">Member of the Group Management Board (2000&#160;-&#160;2002)</div>
                  <div style="margin-left: 8.5pt;">Head of Group Business Development (2000&#160;-&#160;2001)</div>
                  <div style="margin-left: 8.5pt;">Various other senior positions (1996&#160;-&#160;2001)</div>
                  <div>1995&#160;-&#160;1995: Swiss Life</div>
                  <div style="margin-left: 8.5pt;">Head of Strategic Planning and Controlling</div>
                  <div>1985&#160;-&#160;1995: Institute of Insurance Economics at the University of St. Gallen (I.VW)</div>
                  <div style="margin-left: 8.5pt;">Vice President, Head of Consulting and Management Development (1990&#160;-&#160;1995)</div>
                  <div style="margin-left: 8.5pt;">Project Manager and Research Associate (1985&#160;-&#160;1989)</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zdfb6da1bd15c4fe4ae2bf36d0c9eb193">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Education</div>
                    <div>2000 Advanced Management Program, Wharton School, University of Pennsylvania, United States</div>
                    <div>1996 Post-doctorate degree in Business Administration (Habilitation), University of St. Gallen, Switzerland</div>
                    <div>1989 PhD in Economics and Business Administration, University of St. Gallen, Switzerland</div>
                    <div>1984 Master&#8217;s degree in Economics and Business Administration, University of St. Gallen, Switzerland</div>
                  </td>
                </tr>

            </table>
          </div>
          <br>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zaee8bbde353947ffa85578aea2259e5b">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Credit Suisse Foundation, chair</div>
                  <div>Swiss Bankers Association (SBA), board member and board of directors committee member</div>
                  <div>Swiss Finance Council (SFC), board member</div>
                  <div>Institute of International Finance (IIF), board member</div>
                  <div>European Financial Services Round Table (EFR), board member</div>
                  <div>University of St. Gallen (HSG), adjunct professor and international advisory board member</div>
                  <div>Institute of Insurance Economics at the University of St. Gallen (I.VW), chairman of the executive board</div>
                  <div>Swiss-American Chamber of Commerce, member</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z1155d2bd94924b71bd117391f17f2381">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">
                  <div style="text-align: justify;">Mirko Bianchi</div>
                </td>
                <td style="width: 24.48%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div>Switzerland</div>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2022&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Member of the Board (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Chair of the Audit Committee (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Risk Committee (2022&#160;-&#160;present)</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">38</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div><br>
        </div>
        <br>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z1155d2bd94924b71bd117391f17f2381">

              <tr>
                <td style="width: 25.36%; vertical-align: top;"><br>
                </td>
                <td style="width: 24.48%; vertical-align: top;"><br>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="margin-left: 8.5pt;">Member of the Conduct and Financial Crime Control Committee (2022&#160;-&#160;present)</div>
                  <div>2009&#160;-&#160;2021: UniCredit</div>
                  <div style="margin-left: 8.5pt;">CEO Group Wealth Management &amp; Private Banking (2020&#160;-&#160;2021)</div>
                  <div style="margin-left: 8.5pt;">Group Co-CFO (2019&#160;-&#160;2020)</div>
                  <div style="margin-left: 8.5pt;">Group CFO (2016&#160;-&#160;2019)</div>
                  <div style="margin-left: 8.5pt;">CFO Bank Austria &amp; Central European Countries (2015&#160;-&#160;2016)</div>
                  <div style="margin-left: 8.5pt;">Head of Group Finance (2009&#160;-&#160;2015)</div>
                  <div>2000&#160;-&#160;2009: UBS</div>
                  <div style="margin-left: 8.5pt;">Managing Director, Global Head of Ratings Advisory</div>
                  <div>1998&#160;-&#160;2000: Deutsche Bank AG</div>
                  <div style="margin-left: 8.5pt;">Director, Debt Capital Markets &#8211; Ratings Advisory</div>
                  <div>1993&#160;-&#160;1998: Moody&#8217;s Investor Services</div>
                  <div style="margin-left: 8.5pt;">Vice President, Senior Investor Analyst</div>
                  <div>Prior to 1993:</div>
                  <div>BCI Capital</div>
                  <div style="margin-left: 8.5pt;">Equity Analyst</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="ze9941caa7c6b476ca068f66fa87a2ddd">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1994 Executive Program in Financial Analysis, Northwestern University, Chicago, United States</div>
                  <div>1991 MBA, Fordham University, New York, United States</div>
                  <div>1988 Master of Science in Food Chemical and Processing Engineering, ETH Zurich, Switzerland</div>
                </td>
              </tr>

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        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zf780abd75b8549c69eecf9e905650506">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>GSTS &#8211; Gui Sheng Tang Sinomedica Holding SA, board member</div>
                  <div>Previous recent board memberships in other organizations include:</div>
                  <div>Shoellerbank AG, vice chairman of the supervisory board (2020&#160;-&#160;2021; 2016&#160;-&#160;2018)</div>
                  <div>Yapi Kredi Bankasi AS, board member (2015&#160;-&#160;2020)</div>
                  <div>KOC Finansal Hizmetler AS, board member (2015&#160;-&#160;2020)</div>
                  <div>Unicredit Bank Austria AG, member of the supervisory board (2016&#160;-&#160;2018) and member of the management board (2015&#160;-&#160;2016)</div>
                </td>
              </tr>

          </table>
        </div>
        <br>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zc4d06b14548f4acc95b14f4469123b20">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">
                  <div style="text-align: justify;">Iris Bohnet</div>
                </td>
                <td style="width: 24.48%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2012&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Member of the Board (2012&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Compensation Committee (2012&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Chair of the Sustainability Advisory Committee (2021&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Innovation and Technology Committee (2015&#160;-&#160;2021)</div>
                  <div>1998&#160;-&#160;present: Harvard Kennedy School</div>
                  <div style="margin-left: 8.5pt;">Albert Pratt Professor of Business and Government (2018&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Co-Director of the Women and Public Policy Program (2018&#160;-&#160;present), Director (2008&#160;-&#160;2018)</div>
                  <div style="margin-left: 8.5pt;">Academic Dean (2018&#160;-&#160;2021, 2011&#160;-&#160;2014)</div>
                  <div style="margin-left: 8.5pt;">Professor of Public Policy (2006&#160;-&#160;2018)</div>
                  <div style="margin-left: 8.5pt;">Associate Professor of Public Policy (2003&#160;-&#160;2006)</div>
                  <div style="margin-left: 8.5pt;">Assistant Professor of Public Policy (1998&#160;-&#160;2003)</div>
                </td>
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          </table>
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        <div><br>
          <div><br>
          </div>
          <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">39</font></div>
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          </div>
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          </div>
          <br>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zc4d06b14548f4acc95b14f4469123b20">

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                <td style="width: 25.36%; vertical-align: top;">
                  <div style="text-align: justify;"><br>
                  </div>
                </td>
                <td style="width: 24.48%; vertical-align: top;"><br>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div>1997&#160;-&#160;1998: Haas School of Business, University of California at Berkeley</div>
                  <div style="margin-left: 8.5pt;">Visiting scholar</div>
                </td>
              </tr>

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        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za4377769d6f64c8a9f27d28912217710">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1997 Doctorate in Economics, University of Zurich, Switzerland</div>
                  <div>1992 Master&#8217;s degree in Economic History, Economics and Political Science, University of Zurich, Switzerland</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zd12d0d0d491f4f9993af4b2812654487">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Publicis Groupe Diversity Progress Council, member (listed company)</div>
                  <div>Economic Dividends for Gender Equality (EDGE), advisory board member</div>
                  <div>We Shape Tech, advisory board member</div>
                  <div>Women in Banking and Finance, patron</div>
                  <div>UK Government Equalities Office/BIT, advisor</div>
                  <div>Previous recent board memberships include:</div>
                  <div>Applied, non-executive director (2016&#160;-&#160;2020)</div>
                </td>
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        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z0482a0353b3f48709ae7d400f4ec53c8">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">
                  <div style="text-align: justify;">Clare Brady</div>
                </td>
                <td style="width: 24.48%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2021&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Member of the Board (2021&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Sustainability Advisory Committee (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Audit Committee (2021&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Chair of the Conduct and Financial Crime Control Committee (2022&#160;-&#160;present, member since 2021)</div>
                  <div style="margin-left: 8.5pt;">Member of the Board of Credit Suisse International and Credit Suisse Securities (Europe) Limited (UK subsidiaries) (2021)</div>
                  <div>2014&#160;-&#160;2017: International Monetary Fund (IMF)</div>
                  <div style="margin-left: 8.5pt;">Director of Internal Audit</div>
                  <div>2009&#160;-&#160;2013: World Bank Group</div>
                  <div style="margin-left: 8.5pt;">Vice President and Auditor General</div>
                  <div>2005&#160;-&#160;2009: Deutsche Bank AG</div>
                  <div style="margin-left: 8.5pt;">Managing Director, Group Audit, Asia Pacific Regional Head (2007&#160;-&#160;2009)</div>
                  <div style="margin-left: 8.5pt;">Managing Director, Group Audit, UK Regional Head and Business Partner for Global Banking and Chief Administration Officer (2005&#160;-&#160;2006)</div>
                  <div>2002&#160;-&#160;2005: Bank of England</div>
                  <div style="margin-left: 8.5pt;">The Auditor</div>
                  <div>2001&#160;-&#160;2002: Barclays Capital</div>
                  <div style="margin-left: 8.5pt;">Global Head of Internal Audit</div>
                  <div>2000&#160;-&#160;2001: HSBC</div>
                  <div style="margin-left: 8.5pt;">Global Head of Compliance, Private Banking</div>
                  <div>1995&#160;-&#160;2000: Safra Republic Holdings</div>
                  <div style="margin-left: 8.5pt;">Chief Auditor</div>
                  <div>1995&#160;-&#160;2000: Republic National Bank of New York (RNBNY)</div>
                  <div style="margin-left: 8.5pt;">Director of European Audit, Senior Vice President</div>
                  <div>Prior to 1995:</div>
                  <div>First National Bank of Chicago</div>
                  <div style="margin-left: 8.5pt;">Vice President and Regional Head of Europe and Asia Pacific</div>
                  <div>Bank of New York</div>
                  <div style="margin-left: 8.5pt;">Auditor</div>
                  <div>National Audit Office, UK</div>
                  <div style="margin-left: 8.5pt;">Auditor</div>
                </td>
              </tr>

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        </div>
        <div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">40</font></div>
            <div class="BRPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          </div>
          <div><br>
          </div>
          <br>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z3871691eaa6849c0a9fa45e52ba9bef4">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Education</div>
                    <div>1994 Chartered Governance Professional (ACG), Chartered Governance Institute, UK</div>
                    <div>1987 Bachelor of Science in Economics, London School of Economics, UK</div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z825e28f380854cbc8b44dda6d0c2c378">

                  <tr>
                    <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                    <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                    <td style="width: 50.16%; vertical-align: top;">
                      <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                      <div>Fidelity Asian Values PLC, non-executive director, senior independent director (SID) and member of the audit committee, the management engagement committee and the nominations committee (listed company)</div>
                      <div>The Golden Charter Trust and the Golden Charter Trust Limited, trustee and non-executive director (resp.) and member of the audit committee</div>
                      <div>International Federation of Red Cross and Red Crescent Societies (IFRC), member of the audit and risk commission</div>
                    </td>
                  </tr>

              </table>
            </div>
            <div><br>
            </div>
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z1fff76cc346c4bd4951e83e519f502fd">

                  <tr>
                    <td style="width: 25.36%; vertical-align: top;">
                      <div style="text-align: justify;">Christian Gellerstad</div>
                    </td>
                    <td style="width: 24.48%; vertical-align: top;">
                      <div style="text-align: justify;">Credit Suisse Group AG</div>
                      <div style="text-align: justify;">Paradeplatz 8</div>
                      <div style="text-align: justify;">8001 Zurich</div>
                      <div style="text-align: justify;">Switzerland</div>
                    </td>
                    <td style="width: 50.16%; vertical-align: top;">
                      <div style="text-align: justify; font-weight: bold;">Professional history</div>
                      <div>2019&#160;-&#160;present: Credit Suisse</div>
                      <div style="margin-left: 8.5pt;">Member of the Board (2019&#160;-&#160;present)</div>
                      <div style="margin-left: 8.5pt;">Chair of the Compensation Committee (2022&#160;-&#160;present, member since 2019)</div>
                      <div style="margin-left: 8.5pt;">Member of the Digital Transformation and Technology Committee (2022&#160;-&#160;present)</div>
                      <div style="margin-left: 8.5pt;">Member of the Conduct and Financial Crime Control Committee (2019&#160;-&#160;present, Chair 2020&#160;-&#160;2022)</div>
                      <div style="margin-left: 8.5pt;">Member of the Governance and Nominations Committee (2020&#160;-&#160;present)</div>
                      <div style="margin-left: 8.5pt;">Member of the Board of Credit Suisse (Schweiz) AG, (Swiss subsidiary) (2021&#160;-&#160;present)</div>
                      <div>1994&#160;-&#160;2018: Pictet Group</div>
                      <div style="margin-left: 8.5pt;">CEO, Pictet Wealth Management (2007&#160;-&#160;2018)</div>
                      <div style="margin-left: 8.5pt;">Executive Committee Member, Banque Pictet &amp; Cie SA, Geneva (2013&#160;-&#160;2018)</div>
                      <div style="margin-left: 8.5pt;">Equity Partner, Pictet Group (2006&#160;-&#160;2018)</div>
                      <div style="margin-left: 8.5pt;">CEO and Managing Director, Banque Pictet &amp; Cie (Europe) S.A., Luxembourg (2000&#160;-&#160;2007)</div>
                      <div style="margin-left: 8.5pt;">Deputy CEO and Senior Vice President, Pictet Bank &amp; Trust Ltd., Bahamas (1996&#160;-&#160;2000)</div>
                      <div style="margin-left: 8.5pt;">Financial Analyst &amp; Portfolio Manager, Pictet &amp; Cie, Geneva (1994&#160;-&#160;1996)</div>
                      <div>Prior to 1994: Cargill International</div>
                      <div style="margin-left: 8.5pt;">Emerging Markets Trader</div>
                    </td>
                  </tr>

              </table>
            </div>
            <div><br>
            </div>
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zdb54e61e1c7245bc9c006242b3b487d7">

                  <tr>
                    <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                    <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                    <td style="width: 50.16%; vertical-align: top;">
                      <div style="text-align: justify; font-weight: bold;">Education</div>
                      <div>2019 Board Director Diploma, International Institute for Management Development (IMD), Switzerland</div>
                      <div>1996 Certified International Investment Analyst (CIIA) &amp; Certified Portfolio Manager and Financial Analyst (AZEK)</div>
                      <div>1993 Master&#8217;s in Business Administration and Economics, University of St. Gallen (HSG), Switzerland</div>
                    </td>
                  </tr>

              </table>
            </div>
            <div><br>
            </div>
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z7aa4e3dc8447425d8f933ef08a3dc44f">

                  <tr>
                    <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                    <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                    <td style="width: 50.16%; vertical-align: top;">
                      <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                      <div>Investis Holding SA, board member (listed company)</div>
                      <div>Elatior SA, chairman</div>
                      <div>Nubica SA, board member</div>
                      <div>Taurus SA, board member</div>
                      <div>FAVI SA, board member</div>
                    </td>
                  </tr>

              </table>
            </div>
            <div><br>
            </div>
            <div><br>
            </div>
            <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
              <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">41</font></div>
              <div class="BRPFPageBreak" style="page-break-after: always;">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
            <br>
          </div>
          <br>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z7aa4e3dc8447425d8f933ef08a3dc44f">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div>AFICA SA, board member</div>
                  <div>Tsamp&#233;hro SA, board member</div>
                  <div>Lucerne Festival, member of the board of trustees</div>
                  <div>Fondation G-F. Barras European Masters, member of the board of trustees</div>
                </td>
              </tr>

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        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z431e92eac6e6480c9e9832f696db71c9">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">
                  <div style="text-align: justify;">Keyu Jin</div>
                </td>
                <td style="width: 24.48%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2022&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Member of the Board (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Risk Committee (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Digital Transformation and Technology Committee (2022&#160;-&#160;present)</div>
                  <div>2009&#160;-&#160;present: The London School of Economics</div>
                  <div style="margin-left: 8.5pt;">Tenured Associate Professor of Economics (2013&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Assistant Professor of Economics (2009&#160;-&#160;2012)</div>
                  <div>2016&#160;-&#160;2017: Tsinghua University</div>
                  <div style="margin-left: 8.5pt;">Visiting Professor in Economics</div>
                  <div>2015: Berkeley University</div>
                  <div style="margin-left: 8.5pt;">Visiting Professor in Economics</div>
                  <div>2012&#160;-&#160;2013: Yale University</div>
                  <div style="margin-left: 8.5pt;">Visiting Professor in Economics</div>
                  <div>2011&#160;-&#160;2012: International Monetary Fund (IMF)</div>
                  <div style="margin-left: 8.5pt;">Visiting Scholar</div>
                  <div>2011&#160;-&#160;2012: Moore Capital</div>
                  <div style="margin-left: 8.5pt;">Consultant</div>
                  <div>2009: Morgan Stanley</div>
                  <div style="margin-left: 8.5pt;">Research Department</div>
                  <div>2008: Federal Reserve Bank of New York</div>
                  <div style="margin-left: 8.5pt;">Research Department</div>
                  <div>2003: World Bank Group</div>
                  <div style="margin-left: 8.5pt;">Economist</div>
                  <div>2002: Goldman Sachs International</div>
                  <div style="margin-left: 8.5pt;">Investment Banking Analyst</div>
                  <div>2001: Morgan Stanley</div>
                  <div style="margin-left: 8.5pt;">Equity Research</div>
                  <div>2000: J.P. Morgan</div>
                  <div style="margin-left: 8.5pt;">Derivatives</div>
                </td>
              </tr>

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        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zdad9a839ddc94836afa0dcb817577eea">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>2009 PhD in Economics, Harvard University, United States</div>
                  <div>2006 MA in Economics, Harvard University, United States</div>
                  <div>2004 BA in Economics, Harvard University, United States</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z08a00edbd4f14f349fb26fb380839270">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Alnnovation Technology Group, non-executive director (listed company)</div>
                  <div>Richemont Group, non-executive director (listed company)</div>
                  <div>Stanhope-Forbes Family Trust, non-executive director</div>
                </td>
              </tr>

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        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z5d28191dafb5495c9c51f2f8bcc0ae06">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">
                  <div style="text-align: justify;">Shan Li</div>
                </td>
                <td style="width: 24.48%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2019&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Member of the Board (2019&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Compensation Committee (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Risk Committee (2019&#160;-&#160;present)</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">42</font></div>
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        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z5d28191dafb5495c9c51f2f8bcc0ae06">

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                <td style="width: 25.36%; vertical-align: top;">
                  <div style="text-align: justify;"><br>
                  </div>
                </td>
                <td style="width: 24.48%; vertical-align: top;"><br>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div>2015&#160;-&#160;present: Silk Road Finance Corporation Limited, Hong Kong</div>
                  <div style="margin-left: 8.5pt;">Member of the Board</div>
                  <div>2010&#160;-&#160;present: Chinastone Capital Management Limited, Shanghai</div>
                  <div style="margin-left: 8.5pt;">Chairman and CEO</div>
                  <div>2005&#160;-&#160;present: San Shan (HK) Ltd</div>
                  <div style="margin-left: 8.5pt;">Founding Partner</div>
                  <div>2013&#160;-&#160;2015: China Development Bank, Beijing</div>
                  <div style="margin-left: 8.5pt;">Chief International Business Advisor</div>
                  <div>2010&#160;-&#160;2011: UBS Asia Investment Bank, Hong Kong</div>
                  <div style="margin-left: 8.5pt;">Vice Chairman</div>
                  <div>2001&#160;-&#160;2005: Bank of China International Holdings, Hong Kong</div>
                  <div style="margin-left: 8.5pt;">CEO</div>
                  <div>1999&#160;-&#160;2001: Lehman Brothers Asia, Hong Kong</div>
                  <div style="margin-left: 8.5pt;">Head of China Investment Banking</div>
                  <div>1998&#160;-&#160;1999: China Development Bank, Beijing</div>
                  <div style="margin-left: 8.5pt;">Deputy Head of Investment Bank Preparation Leading Group</div>
                  <div>1993&#160;-&#160;1998: Goldman Sachs</div>
                  <div style="margin-left: 8.5pt;">Executive Director, Goldman Sachs International, London (1997&#160;-&#160;1998)</div>
                  <div style="margin-left: 8.5pt;">Executive Director, Goldman Sachs (Asia), Hong Kong (1995&#160;-&#160;1997)</div>
                  <div style="margin-left: 8.5pt;">International Economist, Goldman Sachs &amp; Co., New York (1993&#160;-&#160;1995)</div>
                  <div>1993: Credit Suisse First Boston, New York</div>
                  <div style="margin-left: 8.5pt;">Associate</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z1074b3757fe94b5db1ace261af8702e2">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1994 PhD in Economics, Massachusetts Institute of Technology (MIT), United States</div>
                  <div>1988 MA in Economics, University of California, Davis, United States</div>
                  <div>1986 Bachelor of Science in Management Information Systems, Tsinghua University, Beijing, China</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zdb1f2ebbce7e4aaf81f3764036617dd5">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Zurich Insurance, senior China advisor (listed company)</div>
                  <div>Beijing International Wealth Management Institute, chairman</div>
                  <div>Chinese Financial Association of Hong Kong, vice chairman</div>
                  <div>Bauhinia Party, co-founder</div>
                  <div>13th National Committee of the Chinese People&#8217;s Political Consultative Conference (CPPCC), member</div>
                  <div>MIT Economics Visiting Committee, member</div>
                  <div>Silk Road Planning Research Center, vice chairman</div>
                  <div>Tsinghua Institute for Governance Studies, vice chairman</div>
                  <div>MIT Sloan Finance Advisory Board, member</div>
                  <div>Harvard University, Kennedy School Dean&#8217;s Council member</div>
                  <div>Previous recent board memberships include:</div>
                  <div>CMMB Vision Holdings Ltd., board member (2010&#160;-&#160;2021)</div>
                </td>
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          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za7751783f6a04f8488482a3574897740">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">
                  <div style="text-align: justify;">Seraina Macia</div>
                </td>
                <td style="width: 24.48%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2015&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Member of the Board (2015&#160;-&#160;present)</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">43</font></div>
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        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za7751783f6a04f8488482a3574897740">

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                <td style="width: 25.36%; vertical-align: top;">
                  <div style="text-align: justify;"><br>
                  </div>
                </td>
                <td style="width: 24.48%; vertical-align: top;"><br>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="margin-left: 8.5pt;">Member of the Digital Transformation and Technology Committee (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Audit Committee (2021&#160;-&#160;present, 2015&#160;-&#160;2018)</div>
                  <div style="margin-left: 8.5pt;">Member of the Risk Committee (2018&#160;-&#160;2021)</div>
                  <div>2020&#160;-&#160;present: Joyn Insurance</div>
                  <div style="margin-left: 8.5pt;">CEO and Co-Founder</div>
                  <div>2017&#160;-&#160;2020: Blackboard U.S. Holdings, Inc. (AIG Corporation)</div>
                  <div style="margin-left: 8.5pt;">Executive Vice President of AIG &amp; CEO of Blackboard (AIG technology-focused subsidiary; formerly Hamilton USA)</div>
                  <div>2016&#160;-&#160;2017: Hamilton Insurance Group</div>
                  <div style="margin-left: 8.5pt;">CEO Hamilton USA</div>
                  <div>2013&#160;-&#160;2016: AIG Corporation</div>
                  <div style="margin-left: 8.5pt;">Executive Vice-President of AIG and CEO Regional Management &amp; Operations of AIG, New York (2015&#160;-&#160;2016)</div>
                  <div style="margin-left: 8.5pt;">CEO and President of AIG EMEA, London (2013&#160;-&#160;2016)</div>
                  <div>2010&#160;-&#160;2013: XL Insurance North America</div>
                  <div style="margin-left: 8.5pt;">Chief Executive</div>
                  <div>2002&#160;-&#160;2010: Zurich Financial Services</div>
                  <div style="margin-left: 8.5pt;">President Specialties Business Unit, Zurich North America Commercial, New York (2007&#160;-&#160;2010)</div>
                  <div style="margin-left: 8.5pt;">CFO, Zurich North America Commercial, New York (2006&#160;-&#160;2007)</div>
                  <div style="margin-left: 8.5pt;">Various positions, among others: Head of the joint Investor Relations and Rating Agencies Management Departments; Head of Rating Agencies Management; Senior Investor Relations Officer (2002&#160;-&#160;2008)</div>
                  <div>2000&#160;-&#160;2002: NZB Neue Z&#252;rcher Bank</div>
                  <div style="margin-left: 8.5pt;">Founding Partner and Financial Analyst</div>
                  <div>1990&#160;-&#160;2000: Swiss Re</div>
                  <div style="margin-left: 8.5pt;">Rating Agency Coordinator, Swiss Re Group (2000)</div>
                  <div style="margin-left: 8.5pt;">Senior Underwriter &amp; Deputy Head of Financial Products, Melbourne (1996<font style="font-style: italic;">&#160;-</font>&#160;1999)</div>
                  <div style="margin-left: 8.5pt;">Various Senior Underwriting and Finance Positions, Zurich (1990&#160;-&#160;1996)</div>
                </td>
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          </table>
        </div>
        <div><br>
        </div>
        <div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z4026e26bf862484c938ef3aa7f0f8ae6">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Education</div>
                    <div>2001 Chartered Financial Analyst (CFA), CFA Institute, United States</div>
                    <div>1999 MBA, Monash Mt Eliza Business School, Australia</div>
                    <div>1997 Postgraduate Certificate in Management, Deakin University, Australia</div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z4e418d61e4874330990bb4eaf01acd89">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                    <div>Portage Fintech Acquisition Corporation, board member (listed company)</div>
                    <div>BanQu, chair</div>
                    <div>CFA Institute, member</div>
                    <div>Food Bank for New York City, chair</div>
                    <div>Young Presidents Organization, member</div>
                  </td>
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            </table>
          </div>
          <div><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z3511914bd0dd49c8aa25da8923ee68b3">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">
                    <div style="text-align: justify;">Blythe Masters</div>
                  </td>
                  <td style="width: 24.48%; vertical-align: top;">
                    <div style="text-align: justify;">Credit Suisse Group AG</div>
                    <div style="text-align: justify;">Paradeplatz 8</div>
                    <div style="text-align: justify;">8001 Zurich</div>
                    <div style="text-align: justify;">Switzerland</div>
                  </td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Professional history</div>
                    <div>2021&#160;-&#160;present: Credit Suisse</div>
                    <div style="margin-left: 8.5pt;">Member of the Board (2021&#160;-&#160;present)</div>
                    <div style="margin-left: 8.5pt;">Chair of the Digital Transformation and Technology Committee (2022&#160;-&#160;present)</div>
                  </td>
                </tr>

            </table>
          </div>
          <br>
          <div><br>
          </div>
          <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">44</font></div>
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          <div><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z3511914bd0dd49c8aa25da8923ee68b3">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">
                    <div style="text-align: justify;"><br>
                    </div>
                  </td>
                  <td style="width: 24.48%; vertical-align: top;"><br>
                  </td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="margin-left: 8.5pt;">Member of the Governance and Nominations Committee (2022&#160;-&#160;present)</div>
                    <div style="margin-left: 8.5pt;">Member of the Compensation Committee (2021&#160;-&#160;2022)</div>
                    <div style="margin-left: 8.5pt;">Member of the Risk Committee (2021)</div>
                    <div style="margin-left: 8.5pt;">Chair of Credit Suisse Holdings (USA), Inc.</div>
                    <div style="margin-left: 8.5pt;">(2022&#160;-&#160;present)</div>
                    <div>2019&#160;-&#160;present: Motive Partners</div>
                    <div style="margin-left: 10.8pt;">Motive Partners, Founding Partner (2019&#160;-&#160;present)</div>
                    <div style="margin-left: 10.8pt;">Member of the Board of Directors of Forge Global Holdings, Inc. (listed company) (2022&#160;-&#160;present)</div>
                    <div style="margin-left: 10.8pt;">President of Motive Capital Corporation II (SPAC) (2021&#160;-&#160;present)</div>
                    <div style="margin-left: 10.8pt;">Member of the Board of Directors of CAIS (2021&#160;-&#160;present)</div>
                    <div style="margin-left: 10.8pt;">Consultant of Apollo Global Management (2021&#160;-&#160;present)</div>
                    <div>2015&#160;-&#160;2018: Digital Asset Holdings LLC</div>
                    <div style="margin-left: 8.5pt;">CEO</div>
                    <div>1991&#160;-&#160;2015: J.P. Morgan Chase &amp; Co.</div>
                    <div style="margin-left: 8.5pt;">Head of Corporate &amp; Investment Bank Regulatory Affairs (2010&#160;-&#160;2014)</div>
                    <div style="margin-left: 8.5pt;">Head of Global Commodities (2007&#160;-&#160;2014)</div>
                    <div style="margin-left: 8.5pt;">Chief Financial Officer Investment Bank (2004&#160;-&#160;2007)</div>
                    <div style="margin-left: 8.5pt;">Head of Credit Policy and Strategy and Global Credit Portfolio (2002&#160;-&#160;2004)</div>
                    <div style="margin-left: 8.5pt;">Co-Head of Asset Backed Securitization and Head of Global Structured Credit (2000&#160;-&#160;2002)</div>
                    <div style="margin-left: 8.5pt;">Co-Head of North American Credit Portfolio (1998&#160;-&#160;2000)</div>
                    <div style="margin-left: 8.5pt;">Head of Global Credit Derivatives Marketing (1995&#160;-&#160;1998)</div>
                    <div style="margin-left: 8.5pt;">Various roles in Fixed Income Markets (1991&#160;-&#160;1995)</div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z17a3afa845164f8aab0ab58c6c1922a8">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Education</div>
                    <div>1991 Bachelor of Arts in Economics, Trinity College, Cambridge, UK</div>
                  </td>
                </tr>

            </table>
            <div><br>
            </div>
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zd55b7b03ef3c490fa7de4617ee481e8a">

                  <tr>
                    <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                    <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                    <td style="width: 50.16%; vertical-align: top;">
                      <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                      <div>GCM Grosvenor, board member and chair of the audit committee (listed company)</div>
                      <div>Previous recent board memberships include:</div>
                      <div>Phunware, board member (2019&#160;-&#160;2021)</div>
                      <div>A. P. M&#248;ller-Maersk Group, board member (2020&#160;-&#160;2022)</div>
                      <div>Open Digital Services, board member (2020&#160;-&#160;2021)</div>
                      <div>Santander Group, member of the international advisory board (2016&#160;-&#160;2021)</div>
                    </td>
                  </tr>

              </table>
            </div>
            <br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z3a3401ae1e1f452d86f6861fef079175">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">
                    <div style="text-align: justify;">Richard Meddings</div>
                  </td>
                  <td style="width: 24.48%; vertical-align: top;">
                    <div style="text-align: justify;">Credit Suisse Group AG</div>
                    <div style="text-align: justify;">Paradeplatz 8</div>
                    <div style="text-align: justify;">8001 Zurich</div>
                    <div style="text-align: justify;">Switzerland</div>
                  </td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Professional history</div>
                    <div>2020&#160;-&#160;present: Credit Suisse</div>
                    <div style="margin-left: 8.5pt;">Member of the Board (2020&#160;-&#160;present)</div>
                    <div style="margin-left: 8.5pt;">Chair of the Risk Committee (2022&#160;-&#160;present, member since 2020, Chair (ad interim) 2021)</div>
                    <div style="margin-left: 8.5pt;">Member of the Audit Committee (2022&#160;-&#160;present, Chair 2020&#160;-&#160;2022)</div>
                    <div style="margin-left: 8.5pt;">Member of the Sustainability Advisory Committee (2021&#160;-&#160;2022)</div>
                    <div style="margin-left: 8.5pt;">Member of the Governance and Nominations Committee (2020&#160;-&#160;present)</div>
                    <div style="margin-left: 8.5pt;">Member of the Conduct and Financial Crime Control Committee (2020&#160;-&#160;2022)</div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">45</font></div>
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          </div>
          <div><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z3a3401ae1e1f452d86f6861fef079175">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">
                    <div style="text-align: justify;"><br>
                    </div>
                  </td>
                  <td style="width: 24.48%; vertical-align: top;"><br>
                  </td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="margin-left: 8.5pt;">Member of the Board of Credit Suisse International and Credit Suisse Securities (Europe) Limited (UK subsidiaries) (2022&#160;-&#160;present)</div>
                    <div>2018&#160;-&#160;2021: TSB Bank plc</div>
                    <div style="margin-left: 8.5pt;">Chairman (2019&#160;-&#160;2021)</div>
                    <div style="margin-left: 8.5pt;">Interim Executive Chairman (2018&#160;-&#160;2019)</div>
                    <div>2017&#160;-&#160;2019: Jardine Lloyd Thompson Group Plc</div>
                    <div style="margin-left: 8.5pt;">Non-Executive Director</div>
                    <div style="margin-left: 8.5pt;">Chair of the remuneration committee</div>
                    <div style="margin-left: 8.5pt;">Member of the audit and risk committee</div>
                    <div>2015&#160;-&#160;2019: Deutsche Bank AG</div>
                    <div style="margin-left: 8.5pt;">Member of the supervisory board</div>
                    <div style="margin-left: 8.5pt;">Chair of the audit committee, member of the risk committee and member of the strategy committee</div>
                    <div>2014&#160;-&#160;2017: Legal &amp; General Group Plc</div>
                    <div style="margin-left: 8.5pt;">Non-Executive Director</div>
                    <div style="margin-left: 8.5pt;">Chair of the risk committee</div>
                    <div style="margin-left: 8.5pt;">Member of the audit and remuneration committee</div>
                    <div>2008&#160;-&#160;2014: 3i Group Plc</div>
                    <div style="margin-left: 8.5pt;">Non-Executive Director and Senior Independent Director</div>
                    <div style="margin-left: 8.5pt;">Chair of the audit and risk committee</div>
                    <div>2002&#160;-&#160;2014: Standard Chartered Group plc</div>
                    <div style="margin-left: 8.5pt;">Group Executive Director</div>
                    <div style="margin-left: 8.5pt;">Finance Director (2006&#160;-&#160;2014)</div>
                    <div>2000&#160;-&#160;2002: Barclays Plc</div>
                    <div style="margin-left: 8.5pt;">Group Financial Controller</div>
                    <div style="margin-left: 8.5pt;">COO, Wealth Management Division</div>
                    <div>1999&#160;-&#160;2000: Woolwich Plc</div>
                    <div style="margin-left: 8.5pt;">Group Finance Director</div>
                    <div>Prior to 1999:</div>
                    <div>BZW (CSFB) (1996&#160;-&#160;1999)</div>
                    <div>Hill Samuel Bank (1984&#160;-&#160;1996)</div>
                    <div>Price Waterhouse (1980&#160;-&#160;1984)</div>
                  </td>
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            </table>
          </div>
          <div><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za0abf763189742e7a0c2621cf02aa535">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Education</div>
                    <div>1983 UK Chartered Accountant, Institute of Chartered Accountants in England and Wales</div>
                    <div>1980 MA Modern History, Exeter College, Oxford, UK</div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z1278a856faf74c6e86b169cc6413e756">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div>
                      <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                    </div>
                    <div>NHS England, chair</div>
                    <div>Hastings Educational Opportunity Area, chair</div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zbcd4b0ec4a5d46c3b290046be2f83abb">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">
                    <div style="text-align: justify;">Amanda Norton</div>
                  </td>
                  <td style="width: 24.48%; vertical-align: top;">
                    <div style="text-align: justify;">Credit Suisse Group AG</div>
                    <div style="text-align: justify;">Paradeplatz 8</div>
                    <div style="text-align: justify;">8001 Zurich</div>
                    <div style="text-align: justify;">Switzerland</div>
                  </td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Professional history</div>
                    <div>2022&#160;-&#160;present: Credit Suisse</div>
                    <div style="margin-left: 8.5pt;">Member of the Board (2022&#160;-&#160;present)</div>
                    <div style="margin-left: 8.5pt;">Member of the Risk Committee</div>
                    <div style="margin-left: 8.5pt;">(2022-present)</div>
                    <div style="margin-left: 8.5pt;">Member of the Compensation Committee (2022&#160;-&#160;present)</div>
                    <div>2018&#160;-&#160;2022: Wells Fargo</div>
                    <div style="margin-left: 8.5pt;">Chief Risk Officer</div>
                    <div>2011&#160;-&#160;2018: J.P. Morgan Chase</div>
                    <div style="margin-left: 8.5pt;">Chief Risk Officer, Consumer &amp; Community Banking (2013&#160;-&#160;2018)</div>
                    <div style="margin-left: 8.5pt;">Chief Risk Officer, Mortgage Banking (2011&#160;-&#160;2013)</div>
                    <div>2009&#160;-&#160;2011: Ally Financial</div>
                    <div style="margin-left: 8.5pt;">Chief Risk Officer, Mortgage &amp; Head of Market Risk</div>
                    <div>1995&#160;-&#160;2009: Bank of America</div>
                  </td>
                </tr>

            </table>
          </div>
          <div>
            <div><br>
            </div>
            <div><br>
            </div>
            <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
              <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">46</font></div>
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            </div>
            <br>
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zfc1f6dd4b61442bea74eb4f457802385">

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                    <td style="width: 25.36%; vertical-align: top;">
                      <div style="text-align: justify;"><br>
                      </div>
                    </td>
                    <td style="width: 24.48%; vertical-align: top;"><br>
                    </td>
                    <td style="width: 50.16%; vertical-align: top;">
                      <div style="margin-left: 8.5pt;">Head of Enterprise Risk Management, Consumer Banking (2007&#160;-&#160;2009)</div>
                      <div style="margin-left: 8.5pt;">Portfolio Manager, Corporate Investments Group (2000&#160;-&#160;2007)</div>
                      <div style="margin-left: 8.5pt;">Portfolio Analytics Lead, Corporate Treasury (1998&#160;-&#160;2000)</div>
                      <div style="margin-left: 8.5pt;">Market Risk Director (Europe and Asia) (1995&#160;-&#160;1998)</div>
                      <div>1989&#160;-&#160;1995: Chase Manhattan Bank</div>
                      <div style="margin-left: 8.5pt;">Various positions &#8211; operations and market risk</div>
                    </td>
                  </tr>

              </table>
            </div>
            <br>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z6efcd4c207704cb88f858e69d5ec761a">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Education</div>
                    <div>1989 Bachelor of Science in Mathematics &amp; Statistics, University of Bath, UK</div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zef45781a28d04856856aa7dbafe09956">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div> <font style="font-weight: bold;">Other activities and functions</font></div>
                    <div>Risk Management Association, director and member of the executive committee</div>
                    <div>The Nature Conservancy, North Carolina Chapter, trustee</div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zd80ee3ec5d1d4c47be7b1502f1487d38">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">
                    <div style="text-align: justify;">Ana Paula Pessoa</div>
                  </td>
                  <td style="width: 24.48%; vertical-align: top;">
                    <div style="text-align: justify;">Credit Suisse Group AG</div>
                    <div style="text-align: justify;">Paradeplatz 8</div>
                    <div style="text-align: justify;">8001 Zurich</div>
                    <div style="text-align: justify;">Switzerland</div>
                  </td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Professional history</div>
                    <div>2018&#160;-&#160;present: Credit Suisse</div>
                    <div style="margin-left: 8.5pt;">Member of the Board (2018&#160;-&#160;present)</div>
                    <div style="margin-left: 8.5pt;">Member of the Conduct and Financial Crime Control Committee (2019&#160;-&#160;present)</div>
                    <div style="margin-left: 8.5pt;">Member of the Audit Committee (2018&#160;-&#160;present)</div>
                    <div style="margin-left: 8.5pt;">Member of the Innovation and Technology Committee (2018&#160;-&#160;2021)</div>
                    <div style="margin-left: 8.5pt;">Chair of Credit Suisse Brazil Advisory Board (2022&#160;-&#160;present)</div>
                    <div style="margin-left: 8.5pt;">Chair of Credit Suisse Bank (Europe) S.A. (2021)</div>
                    <div>2020&#160;-&#160;present: Avanti Ltda</div>
                    <div style="margin-left: 8.5pt;">Partner</div>
                    <div>2015&#160;-&#160;2017: Olympic &amp; Paralympic Games 2016</div>
                    <div style="margin-left: 8.5pt;">CFO of Organizing Committee</div>
                    <div>2012&#160;-&#160;2015: Brunswick Group</div>
                    <div style="margin-left: 8.5pt;">Managing Partner of Brazilian Branch</div>
                    <div>2001&#160;-&#160;2011: Infoglobo Newspaper Group</div>
                    <div style="margin-left: 8.5pt;">CFO and Innovation Director</div>
                    <div>1993&#160;-&#160;2001: Globo Organizations</div>
                    <div style="margin-left: 8.5pt;">Senior management positions in several Media Divisions</div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z7653cf56ab644c9795ddc36810b230ce">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Education</div>
                    <div>1991 MA, FRI (Development Economics), Stanford University, California, United States</div>
                    <div>1988 BA, Economics and International Relations, Stanford University, California, United States</div>
                  </td>
                </tr>

            </table>
            <div><br>
            </div>
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za51b7d95d23548ffa35ee242031b074a">

                  <tr>
                    <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                    <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                    <td style="width: 50.16%; vertical-align: top;">
                      <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                      <div>Cosan, board member (listed company)</div>
                      <div>Suzano Pulp and Paper, board member (listed company)</div>
                      <div>Vinci Group, board member (listed company)</div>
                      <div>News Corporation, board member (listed company)</div>
                      <div>Kunumi AI, board member and investor</div>
                      <div>Global Advisory Council for Stanford University, member</div>
                      <div>Instituto Atl&#225;ntico de Gobierno, advisory board member</div>
                      <div>Funda&#231;&#227;o Roberto Marinho, member of the audit committee</div>
                      <div>Previous recent board memberships include:</div>
                    </td>
                  </tr>

              </table>
            </div>
            <div><br>
            </div>
            <div><br>
            </div>
          </div>
          <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">47</font></div>
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          <div><br>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za51b7d95d23548ffa35ee242031b074a">

                <tr>
                  <td style="width: 25.36%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.48%; vertical-align: top;">&#160;</td>
                  <td style="width: 50.16%; vertical-align: top;">
                    <div>Aegea Saneamento SA, board member and member of the finance committee (2018&#160;&#8211;&#160;2019)</div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
          </div>
          <br>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z1b5423222e7e49c591d3b3e77510221a">

              <tr>
                <td style="width: 25.36%; vertical-align: top;">
                  <div style="text-align: justify;">Rainer E. Gut</div>
                  <div style="text-align: justify;">Honorary Chairman of the </div>
                  <div style="text-align: justify;">Board of Credit Suisse</div>
                  <div style="text-align: justify;">Group AG</div>
                </td>
                <td style="width: 24.48%; vertical-align: top;">
                  <div>Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 50.16%; vertical-align: top;">
                  <div style="text-align: justify;">Rainer E. Gut was appointed Honorary Chairman of Credit Suisse Group AG in 2000 after he retired as Chairman, a position he had held from 1986 to 2000. Mr. Gut was a member of the board of Nestl&#233; SA,
                    Vevey, from 1981 to 2005, where he was vice-chairman from 1991 to 2000 and chairman from 2000 to 2005.</div>
                  <div style="text-align: justify;"> <br>
                  </div>
                  <div style="text-align: justify;">As Honorary Chairman, Mr. Gut does not have any function in the governance of the Group and does not attend the meetings of the Board.</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <br>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Board consists solely of non-executive directors within the Group, of which at least the majority must be determined to be independent. As of the date of this document,
          all members of the Board are independent.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">There are no conflicts of interest between the private interests or other duties of the members of the Board listed above and their respective duties to CSG.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Legal Proceedings and Convictions</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">There have been no convictions against any of the members of the Board listed under &#8220;&#8213;<font style="font-style: italic;">Composition of the Board of Directors</font>&#8221; above
          for major or minor economic or white-collar crimes in the last five years, and no legal proceedings against any such member of the Board by statutory or regulatory authorities (including designated professional associations) are ongoing or have
          been concluded with a sanction.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Committees of the Board of Directors</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Board has six committees: the Governance and Nominations Committee (the &#8220;<font style="font-weight: bold;">Governance and Nominations Committee</font>&#8221;), the Audit
          Committee (the &#8220;<font style="font-weight: bold;">Audit Committee</font>&#8221;), the Compensation Committee (the &#8220;<font style="font-weight: bold;">Compensation Committee</font>&#8221;), the Conduct and Financial Crime Control Committee (the &#8220;<font style="font-weight: bold;">Conduct and Financial Crime Control Committee</font>&#8221;), the Risk Committee (the &#8220;<font style="font-weight: bold;">Risk Committee</font>&#8221;) and the Digital Transformation and Technology Committee (the &#8220;<font style="font-weight: bold;">Digital Transformation and Technology Committee</font>&#8221;). In addition, the Board has one advisory committee, the Sustainability Advisory Committee (the &#8220;<font style="font-weight: bold;">Sustainability Advisory
            Committee</font>&#8221;). Except for the members of the Compensation Committee, the committee members are appointed by the Board for a term of one year. Shareholders elect each of the members of the Compensation Committee for a period of one year. In
          this context, a year means the time period between one AGM and the end of the next or, if a member is elected by shareholders at an EGM, between such EGM and the end of the next AGM.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Each Board committee performs an annual self-assessment, where it reviews its own performance against the responsibilities listed in its respective charter and its
          objectives, and determines any special focus objectives for the coming year.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Governance and Nominations Committee</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Governance and Nominations Committee consists of the Chairman, the Vice-Chairman and the chairmen of the committees of the Board and other members appointed by the Board.
          It may include non-independent members of the Board; however, the majority of members must qualify as independent. The Governance and Nominations Committee currently consists of four members, all of whom are independent.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Governance and Nominations Committee has its own charter, which has been approved by the Board. It meets regularly (monthly) and ad-hoc, when required, and the meetings
          are usually attended by the Group CEO. The Governance and Nominations Committee may ask other members of management or specialists to attend a meeting.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Governance and Nominations Committee acts as an advisor to the Chairman and supports them in the preparation of the Board meetings. In addition, the Governance and
          Nominations Committee addresses the corporate governance issues affecting the Group and develops and recommends to the Board corporate governance principles and such other corporate governance-related documents as it deems appropriate for the
          Group. At least</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">48</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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            <div><br>
            </div>
          </div>
        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="text-align: justify; margin-bottom: 10pt;">once annually, the Governance and Nominations Committee reviews the independence of the Board members and recommends its assessment to the Board for final determination. The Governance and
          Nominations Committee is also responsible for setting selection criteria for Board membership, which reflects the requirements of applicable laws and regulations, and for identifying, evaluating and nominating candidates for Board membership.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In addition, the Governance and Nominations Committee guides the Board&#8217;s annual performance assessment of the Chairman, the Group CEO and the members of the Executive Board.
          The Governance and Nominations Committee proposes to the Board the appointment, replacement or dismissal of members of the Executive Board, as well as other appointments requiring endorsement by the Board. The Governance and Nominations Committee
          also reviews succession plans with the Chairman and the Group CEO relating to Executive Board positions and is kept informed of other top management succession plans.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Audit Committee</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Audit Committee consists of at least three members, all of whom must be independent. The chairman of the Risk Committee is generally appointed as one of the members of
          the Audit Committee. The Audit Committee currently consists of five members, all of whom are independent.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Audit Committee has its own charter, which has been approved by the Board. The members of the Audit Committee are subject to independence, experience and expertise
          requirements as stipulated in the Organizational Regulations, the Audit Committee charter, applicable laws and listing standards. None of the Audit Committee members may, among other things, have a significant relationship to the Group,
          indirectly or directly, or be, or have in the past three years been, an employee of the Group, or be a member of the audit committee of more than two other companies, unless the Board deems that such membership would not impair their ability to
          serve on the Audit Committee. The Audit Committee charter further stipulates that all Audit Committee members must be financially literate.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The SEC requires disclosure about whether a member of the Audit Committee is an audit committee financial expert within the meaning of the U.S. Sarbanes-Oxley Act of 2002.
          The Board has determined that Mr. Meddings is an audit committee financial expert.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Pursuant to its charter, the Audit Committee holds meetings at least once each quarter, prior to the publication of CSG&#8217;s consolidated financial statements. Typically, the
          Audit Committee convenes for a number of additional meetings and workshops throughout the year. The meetings are attended by management representatives, as appropriate, the Head of Internal Audit and senior representatives of the external
          auditor. A private session with Internal Audit and the external auditors is regularly scheduled to provide them with an opportunity to discuss issues with the Audit Committee without management being present. The Head of Internal Audit reports
          directly to the chairman of the Audit Committee.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The primary function of the Audit Committee is to assist the Board in fulfilling its oversight role by:</div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd2002df334b9450681785a07a0e23dcc">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">monitoring and assessing the overall integrity of the financial statements as well as disclosures of the financial condition, results of operations and cash flows;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfe262f9b97b849e1ae03eec3008d75e4">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">monitoring the adequacy of the financial accounting and reporting processes and the effectiveness of internal controls;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd5c7a91edea84981ad0704c01d866f9f">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">monitoring processes designed to ensure compliance by the Group in all significant respects with legal and regulatory requirements;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc34cba41fb5d4add864757a99071bab4">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">monitoring the adequacy of the management of non-financial risks jointly with the Risk Committee, including assessing the effectiveness of internal controls that go beyond the area of financial reporting;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za5be57ce7a3c4939b207bc790db8bf10">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reviewing jointly with the Conduct and Financial Crime Control Committee any significant matters related to compliance and conduct; and</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfeec799fdfee41c686fe3f799cf96855">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">monitoring the qualifications, independence and performance of the external auditors and of Internal Audit.</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> <br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Audit Committee is regularly informed about significant projects aimed at further improving processes and receives regular updates on major litigation matters as well as
          significant compliance, disciplinary, tax and regulatory matters. Furthermore, the Audit Committee has established procedures for the receipt, retention and</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">49</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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            <div><br>
            </div>
          </div>
        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="text-align: justify; margin-bottom: 10pt;">treatment of complaints of a significant nature regarding accounting, internal controls, auditing or other matters alleging potential misconduct, including a whistleblower hotline.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Compensation Committee</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Committee consists of at least three members of the Board, all of whom must be independent. The Compensation Committee currently consists of five members,
          all of whom are independent.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Committee has its own charter, which has been approved by the Board. Pursuant to its charter, the Compensation Committee holds at least four meetings per
          year. Additional meetings may be scheduled at any time. The meetings are attended by external advisors and management representatives, as appropriate.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Committee&#8217;s duties and responsibilities include reviewing the Group&#8217;s compensation policy, establishing new compensation plans or amending existing plans and
          recommending them to the Board for approval, as well as reviewing the performance of the Group and the divisions and recommending to the Board for approval the variable compensation pools for the Group and the divisions. The Compensation
          Committee proposes, among other things, individual compensation for the Board members to the Board, discusses and recommends to the Board a proposal for the Group CEO&#8217;s compensation, discusses and recommends to the Board, based on proposals by
          the Group CEO, the Executive Board members&#8217; compensation, and reviews and recommends to the Board the compensation for individuals being considered for an Executive Board position. The Compensation Committee reviews and endorses the annual
          compensation report submitted for a consultative vote by shareholders at the AGM.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Committee is authorized to retain outside advisors, at the Group&#8217;s expense, for the purpose of providing guidance to the Compensation Committee as it carries
          out its responsibilities. Prior to their appointment, the Compensation Committee conducts an independence assessment of the advisors pursuant to the rules of the SEC and the listing standards of the NYSE and the Nasdaq.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Conduct and Financial Crime Control Committee</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Conduct and Financial Crime Control Committee consists of at least three members of the Board. It may include non-independent members of the Board; however, the majority
          of members must qualify as independent. The chairman of the Audit Committee is generally appointed as one of the members of the Conduct and Financial Crime Control Committee. The Compensation Committee currently consists of four members, all of
          whom are independent.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Conduct and Financial Crime Control Committee has its own charter, which has been approved by the Board. Pursuant to its charter, the Conduct and Financial Crime Control
          Committee holds at least four meetings per year. It may convene for additional meetings throughout the year in order to appropriately discharge its responsibilities. The meetings are attended by management representatives, representatives of
          Internal Audit and the Group&#8217;s external auditors, as appropriate.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The primary function of the Conduct and Financial Crime Control Committee is to assist the Board in fulfilling its oversight responsibilities with respect to the Group&#8217;s
          exposure to financial crime risk by:</div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zeb40864dada8467dacf8114994aa3f3c">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reviewing and assessing the Group&#8217;s overall compliance framework for addressing financial crime risk, including policies, procedures and organizational set-up;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zce5864abb24e45b280e7db9bbb8af54a">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">monitoring and assessing the effectiveness of financial crime compliance programs, including those with respect to the following areas: anti-money laundering, client identification and know-your-client
                    procedures, client on and off boarding, politically exposed persons, economic and trade sanctions, anti-bribery and anti-corruption and client tax compliance;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3726280eb8c1469194b752dbf3a27200">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reviewing the status of the relevant policies and procedures and the implementation of significant initiatives focused on improving conduct and vigilance within the context of combatting financial crime,
                    including employee awareness and training programs;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9bbcdec6d4ca4d11b797c51e245ec714">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">with respect to the areas specified above:</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaf737c544dd8440aa63368382abf102e">

              <tr>
                <td style="width: 72pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 54pt;">o</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reviewing and monitoring investigations into allegations of financial crime or other reports of misconduct pertaining thereto;</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">50</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div class="BRPFPageHeader">
            <div><br>
            </div>
          </div>
        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8205bc0efd244812a5d20590c85362ac">

              <tr>
                <td style="width: 72pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 54pt;">o</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reviewing with management, Internal Audit and the external auditors audit findings and recommendations, including annual regulatory audit reports; and</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze32f60b1e40d4e1080512ba35b6dc03a">

              <tr>
                <td style="width: 72pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 54pt;">o</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">providing support to the Compensation Committee and advice, as relevant and appropriate; and</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z89fd406924024bab9e3c2c32278a0755">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reviewing jointly with the Audit Committee and/or Risk Committee any matters for which a joint review is determined to be appropriate, including the annual compliance risk assessment and the Group&#8217;s
                    framework for addressing conduct risk.</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> <br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Conduct and Financial Crime Control Committee receives regular updates by management on regulatory, legislative and industry specific developments with respect to the
          areas specified above.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Risk Committee</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Risk Committee consists of at least three members. It may include non-independent members. The chairman of the Audit Committee is generally appointed as one of the
          members of the Risk Committee. The Risk Committee currently consists of five members, all of whom are independent.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Risk Committee has its own charter, which has been approved by the Board. Pursuant to its charter, the Risk Committee holds at least four meetings a year. In addition,
          the Risk Committee usually convenes for additional meetings throughout the year in order to appropriately discharge its responsibilities. The Group CEO, the Chief Risk Officer and other Group business or corporate function representatives will
          usually attend the meetings, as appropriate.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Risk Committee is responsible for assisting the Board in fulfilling its oversight responsibilities of risk management. These responsibilities include the oversight of the
          enterprise-wide risk management and practices, the promotion of a sound risk culture with clear accountability and ownership, the review of key risk and resources and the assessment of the effectiveness and efficiency of the risk function of the
          Group. The main duties and responsibilities of the Risk Committee include:</div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z230e336a7ea643fab110ec56ed9b765b">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reviewing and assessing the integrity and adequacy of the risk function of the Group, including risk measurement approaches;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4a20e0d2983a4625a850aec7e75a86f9">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reviewing and calibrating the risk appetite at the Group level and at the level of key businesses, as well as major risk concentrations;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zabb4eac89a864b1397f18c09258c49f6">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">approving the list of countries and proposing the limits and risk appetites allocated to such countries to the Board;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8121775f45bb4201b5eb61e3d87bf377">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">regularly reviewing relationships with top clients and material transactions from a risk perspective and also reviewing the reports on material risk matters by the risk function, significant legal
                    entities, businesses and corporate functions;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3a0a1e6e5eaf4ccf8cbb1f6b721c103c">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reviewing the contingency funding plan and proposing it to the Board for approval;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8eca9cb585c04cc5b59ed4208644c065">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reviewing and assessing the business continuity management, risk measurement and management with respect to the internal control system, and, on an annual basis, the firm-wide risk management framework;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z658136534a244be6b5388feeed382235">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reviewing, jointly with the Audit Committee, the annual assessment of the adequacy and effectiveness of the internal control system and the status of major infrastructure and committed change programs, as
                    well as the control functions&#8217; input into remuneration;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z78df535c389c44f8a04813bb349dade6">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reviewing and assessing the current state and evolution of the risk culture;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf56a4846909b46388c3abcd9e525fb83">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">mandating the credit risk review function to independently assess credit risk management practices; and</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5fdd3c3d56374c1184c33d51cb2e4249">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">reporting committee activities to the Board when and with such recommendations as deemed appropriate or required.</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> <br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Risk Committee is regularly informed about major initiatives aimed at responding to regulatory change and further improving risk management across the Group, including
          organizational changes, changes to risk measurement methods and upgrades to risk systems infrastructure.</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">51</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div class="BRPFPageHeader">
            <div><br>
            </div>
          </div>
        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Digital Transformation and Technology Committee</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Digital Transformation and Technology Committee consists of at least three members. It may include non-independent members. The Digital Transformation and Technology
          Committee currently consists of four members, all of whom are independent.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Digital Transformation and Technology Committee has its own charter, which has been approved by the Board. Pursuant to its charter, the Digital Transformation and
          Technology Committee holds at least four meetings a year.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Digital Transformation and Technology Committee was established in January 2022 with the primary function of assisting the Board in setting, steering and overseeing the
          execution of the bank&#8217;s data, digitalization and technology strategy. The Digital Transformation and Technology Committee is tasked with overseeing the strategically aligned execution of the bank&#8217;s major digitalization and technology initiatives
          and setting governance standards for digital transformation across the Group. The main duties and responsibilities of the Risk Committee include:</div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zed2b8a89f8104ee4be162503eeae91f5">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">overseeing and driving the strategic alignment of the Group&#8217;s technology spend;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1c263dea01e14578b44df36b3d35bc4d">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">setting the governance standards for digital transformation across the Group;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z94deca9befaf4636939b5d3adbdeea01">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">overseeing the execution of the major digitalization and technology initiatives;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2d83d8a6f011490ebcc8b5f7fcd6ada6">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">identifying and assessing opportunities and threats to the Group&#8217;s business model from the digital transformation;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z54c0a5fd7cda4f6da7d401262881a885">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">working closely with the Risk Committee and the Audit Committee in regard to overseeing technology-driven risks;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z56c334530ed2429e899854039452ec02">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">obtaining external perspectives and thought leadership on select industry and technology trends with impact on the Group and the financial services industry more broadly; and</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb160157fa0774906a9937b4f3afafa85">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">in relation to these trends, critically examining the strategies and activities within the Group and driving awareness and consideration for strategic decision making as required.</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;"> <br>
        </div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Sustainability Advisory Committee</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Sustainability Advisory Committee consists of no less than three Board members, including the Board Sustainability Leader. Additionally, the Sustainability Advisory
          Committee includes the Chief Sustainability Officer and selected members of the Executive Board, two of which are the Group CEO and the Chief Risk Officer, and may include other members. The Sustainability Advisory Committee currently consists of
          three members.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Sustainability Advisory Committee has its own charter, which has been approved by the Board. Pursuant to its charter, the Sustainability Advisory Committee holds at least
          four meetings a year.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Sustainability Advisory Committee assists the Board, in an advisory capacity, in fulfilling its oversight duties in respect of the development and execution of the
          Group&#8217;s sustainability strategy and targets, and monitoring and assessing the effectiveness of the respective sustainability programs and initiatives. The responsibilities of the Sustainability Advisory Committee include:</div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1fc72c698c934b7e94493e44ce0c0829">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">advising on the sustainability strategy and targets;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfe396fe8be614c88a5b1301a711e53ac">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">providing independent, external expertise and a critical outside-view across a variety of sustainability topics;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z79fd6bd0981b4eca86c5fc8689983713">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">advising on sustainability implications on key Board decisions;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z50ee8f91ef9743e1bc7173d739fb9b62">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">advising on the Group&#8217;s Sustainability Report, on policies and programs subject to public risks/issues and the evolution of the sustainability governance;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z805eb8fbbfa14199b510f3191ff08b28">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">advising on sustainability metrics and tracking and monitoring progress; and</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">52</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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            <div><br>
            </div>
          </div>
        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd2d747fcb1b74535b243b199710fb3a2">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">supporting in engaging with key internal and external stakeholders.</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;"> <br>
        </div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">EXECUTIVE BOARD</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In accordance with Swiss law, the Articles and the Organizational Regulations and subject to those affairs that lie within the responsibility of the Board by law, the
          Articles and the Organizational Regulations, the Board has delegated the executive management of CSG to the Executive Board. The Executive Board is responsible for the day-to-day operational management of CSG under the leadership of the Group
          CEO. Its main duties and responsibilities include:</div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc87325a380ed4ec7960b772126616596">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">establishment of the strategic business plans for the Group overall as well as for the principal businesses, subject to approval by the Board;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8548bc3aed7f45a59bdd428179ca4326">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">regular review and coordination of significant initiatives, projects and business developments in and across the divisions, regions and corporate functions and reconciliation of any issues;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z63b719e92dd14c2783d7e5cf168c4c92">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">regular review of the consolidated and divisional financial performance;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z868d58ae6fa142efb020422e49bcc6a7">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">establishing annually the strategic business plans, performance targets and budgets, including resource allocation, for the Group as a whole, as well as the divisions and the regions, subject to approval
                    by the Board, and implementing such plans;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z02c4934992444a568002406763e24dbf">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">granting corporate titles for CSG and Credit Suisse AG and signatory power for Credit Suisse AG in line with the Organizational Regulations;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z98590e96df9542c795ba91ae1bf65309">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">approving the annual capital expenditure plan and establishing the approval authorities for investments within the approved plan as well as extraordinary investments;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc0b7703e7a4144a59d41cb21ad35636c">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">approval of key policies for the Group; and</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb93382785311451eadf748245461605e">

              <tr>
                <td style="width: 36pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 18pt;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">review and approval of business transactions, including mergers, acquisitions, establishment of joint ventures and establishment of subsidiary companies.</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> <br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The members of the Executive Board are appointed by the Board.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Composition of the Executive Board</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The members of the Executive Board as of the date of this document are listed below. As of the date hereof, the composition of the Executive Board of CSG and the Executive
          Board of Credit Suisse AG is identical, with the exception of Mr. Helfenstein, who is a member of the Executive Board of CSG, but not of Credit Suisse AG. For purposes of the table below only, references to the &#8220;Executive Board&#8221; are to both the
          Executive Board of CSG and the Executive Board of Credit Suisse AG, except as otherwise specified.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z7fcfdb1ac50e42e69e45ecde26faf091">

              <tr>
                <td style="width: 26.22%; vertical-align: bottom;">
                  <div style="border-bottom: 0.5pt solid black;">
                    <div style="font-size: 8pt; font-weight: bold;">Name</div>
                  </div>
                </td>
                <td style="width: 24.22%; vertical-align: bottom;">
                  <div style="border-bottom: 0.5pt solid black;">
                    <div style="text-align: center; font-size: 8pt; font-weight: bold;">Business address</div>
                  </div>
                </td>
                <td style="width: 49.56%; vertical-align: bottom;">
                  <div style="border-bottom: 0.5pt solid black;">
                    <div style="text-align: center; font-size: 8pt; font-weight: bold;">Position held</div>
                    <div>&#160;</div>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 26.22%; vertical-align: top;">
                  <div style="text-align: justify;">Ulrich K&#246;rner</div>
                </td>
                <td style="width: 24.22%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div>Switzerland</div>
                </td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2021&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Group CEO</div>
                  <div style="margin-left: 8.5pt;">(2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Executive Board (2021&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">CEO Asset Management (2021&#160;-&#160;2022)</div>
                  <div style="margin-left: 8.5pt;">Member of the Board of Credit Suisse (Schweiz) AG (Swiss subsidiary) (2022&#160;-&#160;present)</div>
                  <div>2009&#160;-&#160;2020: UBS</div>
                  <div style="margin-left: 8.5pt;">Member of the Group Executive Board (2009&#160;-&#160;2020)</div>
                  <div style="margin-left: 8.5pt;">Senior Advisor to the CEO of UBS Group (2019&#160;-&#160;2020)</div>
                  <div style="margin-left: 8.5pt;">CEO of UBS Asset Management (2014&#160;-&#160;2019)</div>
                  <div style="margin-left: 8.5pt;">CEO of UBS Europe, Middle East &amp; Africa (2011&#160;-&#160;2019)</div>
                  <div style="margin-left: 8.5pt;">Group Chief Operating Officer, CEO Corporate Center (2009&#160;-&#160;2013)</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> <br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">53</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> <br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z7fcfdb1ac50e42e69e45ecde26faf091">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">
                  <div style="text-align: justify;"><br>
                  </div>
                </td>
                <td style="width: 24.22%; vertical-align: top;"><br>
                </td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div>1998&#160;-&#160;2009: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Member of the Group Executive Board (1998&#160;-&#160;2009)</div>
                  <div style="margin-left: 8.5pt;">CEO Switzerland (2006&#160;-&#160;2008)</div>
                  <div style="margin-left: 8.5pt;">Credit Suisse/Credit Suisse Financial Services, CFO (2002&#160;-&#160;2005), COO (2004&#160;-&#160;2005)</div>
                  <div style="margin-left: 8.5pt;">CEO Technology and Services (2000&#160;-&#160;2001)</div>
                  <div style="margin-left: 8.5pt;">CFO Switzerland (1998&#160;-&#160;2000)</div>
                  <div>Prior to 1998:</div>
                  <div>McKinsey &amp; Company</div>
                  <div style="margin-left: 8.5pt;">Senior Engagement Manager</div>
                  <div>Revisuisse</div>
                  <div>Price Waterhouse</div>
                  <div style="margin-left: 8.5pt;">Auditor</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za6650bf420144e76a9c28652daa31e3d">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1993 PhD in Economics, University of St. Gallen, Switzerland</div>
                  <div>1988 Master&#8217;s degree in Economics, University of St. Gallen, Switzerland</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z4683499a1be84f95b69a249bb039f782">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Lyceum Alpinum Zuoz AG, vice chairman of the board of directors (listed company)</div>
                  <div>Previous recent board memberships include:</div>
                  <div>Deutsche Invest Capital Partners (DICP), member of the advisory board (2020&#160;-&#160;2021)</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z42402dcd0d664b23a27b747d9c66b8dc">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">
                  <div style="text-align: justify;">Francesco De Ferrari</div>
                </td>
                <td style="width: 24.22%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2022&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">CEO Wealth Management (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">CEO EMEA (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Executive Board (2022&#160;-&#160;present)</div>
                  <div>2018&#160;-&#160;2021: AMP</div>
                  <div style="margin-left: 8.5pt;">CEO &amp; Managing Director, AMP Capital (2020&#160;-&#160;2021)</div>
                  <div style="margin-left: 8.5pt;">CEO &amp; Managing Director, AMP Limited (2018&#160;-&#160;2021)</div>
                  <div>2002&#160;-&#160;2018: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">CEO, South East Asia and Frontier Markets (2015&#160;-&#160;2018)</div>
                  <div style="margin-left: 8.5pt;">CEO, Private Banking Asia Pacific (2012&#160;-&#160;2018)</div>
                  <div style="margin-left: 8.5pt;">CEO, Private Banking Italy (2008&#160;-&#160;2011)</div>
                  <div style="margin-left: 8.5pt;">Business COO, Private Banking EMEA (2007&#160;-&#160;2008)</div>
                  <div style="margin-left: 8.5pt;">Various management and other positions with Credit Suisse Italy (2002&#160;-&#160;2006)</div>
                  <div>1999&#160;-&#160;2001: B2Vision &amp; ASPESI Spa</div>
                  <div style="margin-left: 10.5pt;">Founder</div>
                  <div>1996&#160;-&#160;1999: McKinsey &amp; Company</div>
                  <div style="margin-left: 10.5pt;">Engagement Manager</div>
                  <div>1993&#160;-&#160;1995: Nestl&#233;</div>
                  <div style="margin-left: 10.5pt;">Internal Audit, International Management Training Program</div>
                  <div>1990&#160;-&#160;1992: Deloitte &amp; Touche</div>
                  <div style="margin-left: 10.5pt;">Financial Auditor</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="ze7b73f2e2662490782e6134762724255">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1996 MBA, INSEAD, Fontainebleau, France</div>
                  <div>1990 Bachelor of Arts in Economics and International Business, New York University, United States</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">54</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
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        </div>
        <div><br>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z96d8f9c6959c4845a8ca7a0a4beebdc9">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Mr. De Ferrari currently does not hold directorships in other organizations</div>
                </td>
              </tr>

          </table>
          <br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zbdc03d52305c4c4d951afc7d15ad26f6">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">
                  <div style="text-align: justify;">Markus Diethelm</div>
                </td>
                <td style="width: 24.22%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2022&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">General Counsel (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Executive Board (2022&#160;-&#160;present)</div>
                  <div>2008&#160;-&#160;2022: UBS</div>
                  <div style="margin-left: 8.5pt;">Of Counsel (2021&#160;-&#160;2022)</div>
                  <div style="margin-left: 8.5pt;">Group General Counsel and Member of the Group Executive Board of UBS Group AG (2014&#160;-&#160;2021)</div>
                  <div style="margin-left: 8.5pt;">Group General Counsel and Member of the Group Executive Board of UBS AG (2008&#160;-&#160;2021)</div>
                  <div style="margin-left: 8.5pt;">Member of the Executive Board of UBS Business Solutions AG (2015&#160;-&#160;2016)</div>
                  <div>1998&#160;-&#160;2008: Swiss Re</div>
                  <div style="margin-left: 8.5pt;">Member of the Group Executive Board (2007&#160;-&#160;2008)</div>
                  <div style="margin-left: 8.5pt;">Group Chief Legal Officer (1998&#160;-&#160;2008)</div>
                  <div>1992&#160;-&#160;1998: Gibson, Dunn &amp; Crutcher, Brussels and Paris</div>
                  <div style="margin-left: 8.5pt;">Attorney-at-law (1992&#160;-&#160;1998)</div>
                  <div>1989&#160;-&#160;1992: Shearman &amp; Sterling, New York</div>
                  <div style="margin-left: 8.5pt;">Attorney-at-law (1989&#160;-&#160;1992)</div>
                  <div>1988&#160;-&#160;1989: Paul, Weiss, Rifkind, Wharton &amp; Garrison, New York</div>
                  <div style="margin-left: 8.5pt;">Attorney-at-law (1988&#160;-&#160;1989)</div>
                  <div>1984&#160;-&#160;1985: District Court of Uster</div>
                  <div style="margin-left: 8.5pt;">Law Clerk (1984&#160;-&#160;1985)</div>
                  <div>1983&#160;-&#160;1984: B&#228;r &amp; Karrer, Zurich</div>
                  <div style="margin-left: 8.5pt;">Associate (1983&#160;-&#160;1984)</div>
                </td>
              </tr>

          </table>
          <br>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zc30b7776606d444f838329b9969ffd5a">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1997 Admission to the bar of the Canton of Geneva, Switzerland</div>
                  <div>1992 Doctorate in Law, Stanford Law School, United States</div>
                  <div>1991 Admission to the bar of the State of New York, United States</div>
                  <div>1988 Master of the Science of Law, Stanford Law School, United States</div>
                  <div>1986 Admission to the bar of the Canton of Zurich, Switzerland</div>
                  <div>1983 Master in Law, University of Zurich, Switzerland</div>
                </td>
              </tr>

          </table>
          <br>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z3de1501e03c641f5a52bcaf7e19ed538">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Swiss-American Chamber of Commerce, chairman of the legal committee</div>
                  <div>American Swiss Foundation, co-chairman and chairman of the Swiss Advisory Council</div>
                  <div>New York State Council of Business Leaders in Support of Access to Justice, member</div>
                  <div>Swiss Finance Institute, vice-chairman of the Foundation Board</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">55</font></div>
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            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z6a569f5bff3a4364b9ebcf12bccd8b0c">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">
                  <div style="text-align: justify;">Christine Graeff</div>
                </td>
                <td style="width: 24.22%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2021&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Global Head of People (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Executive Board (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Group Head of Corporate Communications and Deputy Head of Human Resources (2021&#160;-&#160;2022)</div>
                  <div>2013&#160;-&#160;2020: European Central Bank</div>
                  <div style="margin-left: 10pt;">Director General of Communications</div>
                  <div>2001&#160;-&#160;2013: Brunswick Group GmbH</div>
                  <div style="margin-left: 10.8pt;">Partner &amp; Managing Director</div>
                  <div>1999&#160;-&#160;2001: Burson-Marsteller</div>
                  <div style="margin-left: 10.8pt;">Financial Services and Investor Relations Practice</div>
                  <div>1996&#160;-&#160;1999: Dresdner Kleinwort Benson</div>
                  <div style="margin-left: 10.8pt;">Corporate Finance Analyst, M&amp;A</div>
                </td>
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        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z33655a678d704d099c5d88536eefe6f3">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1998 Securities Institute Diploma and SFA, Chartered Institute for Securities &amp; Investment (CISI), UK</div>
                  <div>1995 Bachelor of Arts in European Business Administration, European Partnership of Business Schools (EPBS), London (UK) and Reims (France)</div>
                </td>
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        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zd368ba6259f548e2838e86125619bdc5">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Atlantik-Br&#252;cke, advisory board member</div>
                  <div>Patronatsverein f&#252;r die St&#228;dtischen B&#252;hnen Frankfurt, member</div>
                  <div>The English Theatre Frankfurt, chair</div>
                  <div>Communication Quadriga University, advisory board member</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zcb39d2249a194eb5ba2c1695ca0aa69a">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">
                  <div style="text-align: justify;">Joanne Hannaford</div>
                </td>
                <td style="width: 24.22%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2022&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Chief Technology &amp; Operations Officer (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Executive Board (2022&#160;-&#160;present)</div>
                  <div>1997&#160;-&#160;2022: Goldman Sachs</div>
                  <div style="margin-left: 8.5pt;">Partner and Global Co-Head of Platform Engineering, EMEA Head of Engineering and Global Head of Regulatory Engineering (2013&#160;-&#160;2021)</div>
                  <div style="margin-left: 8.5pt;">Global Head of Corporate and Operations Technology (2016&#160;-&#160;2017)</div>
                  <div style="margin-left: 8.5pt;">Partner &amp; Co-Head of Enterprise Platforms (2013&#160;-&#160;2016)</div>
                  <div style="margin-left: 8.5pt;">Managing Director &amp; Global Head of Compliance and Legal Technology (2001&#160;-&#160;2013)</div>
                  <div style="margin-left: 8.5pt;">Vice President, Statistical Engineer and Investment Research (1997&#160;-&#160;2001)</div>
                  <div>1994&#160;-&#160;1997: NatWest Bank</div>
                  <div style="margin-left: 8.5pt;">Executive Director, Global Volume Trading Systems</div>
                  <div>Prior to 1994:</div>
                  <div>UBS (1993&#160;-&#160;1994)</div>
                  <div>Merrill Lynch (1992&#160;-&#160;1993)</div>
                </td>
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        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z0d2aa30956a74100bed509c899258a51">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1992 Bachelor of Science in Computer Science, Staffordshire University, UK</div>
                  <div>1990 BTEC Higher National Diploma (HND) in Computer Science, Anglia Ruskin University, UK</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">56</font></div>
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        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z1367ddac708f4ace9e9125cbd76d73d2">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Royal Society Science, Industry and Translation Committee, member</div>
                  <div>British Army Staff Corp, major</div>
                  <div>Founders4Schools Charity, member of the Board of Trustees</div>
                  <div>British Computer Society, fellow</div>
                </td>
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        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zc40f08d7a80340bea063a0358891bbb9">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">
                  <div style="text-align: justify;">Andr&#233; Helfenstein</div>
                </td>
                <td style="width: 24.22%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2007&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">CEO Swiss Bank and CEO Region Switzerland (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">CEO Credit Suisse (Schweiz) AG (Swiss subsidiary) (2020&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Executive Board (2020&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">CEO Swiss Universal Bank (2020&#160;-&#160;2021)</div>
                  <div style="margin-left: 8.5pt;">Head Institutional Clients, Swiss Universal Bank (2017&#160;-&#160;2020)</div>
                  <div style="margin-left: 8.5pt;">Credit Suisse (Schweiz) AG, member of the Executive Board (2016&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Swiss Universal Bank, member of the Management Committee (2015&#160;-&#160;2021)</div>
                  <div style="margin-left: 8.5pt;">Head Corporate &amp; Institutional Clients, Swiss Universal Bank (2015&#160;-&#160;2017)</div>
                  <div style="margin-left: 8.5pt;">Private &amp; Wealth Management Organization in Switzerland: Head Private Banking Clients, Region Zurich and Region Head Zurich (2013&#160;-&#160;2015)</div>
                  <div style="margin-left: 8.5pt;">Private &amp; Wealth Management Organization in Switzerland: Head Private Clients, Region Zurich (2010&#160;-&#160;2013)</div>
                  <div style="margin-left: 8.5pt;">Head Products, Sales &amp; Pricing, Private Banking (2007&#160;-&#160;2010)</div>
                  <div>1996&#160;-&#160;2007: The Boston Consulting Group (BCG) (1996&#160;-&#160;1997 &amp; 2003&#160;-&#160;2007 in Zurich / 1998&#160;-&#160;2003 in New York)</div>
                  <div style="margin-left: 8.5pt;">Partner &amp; Managing Director (2005&#160;-&#160;2007)</div>
                  <div style="margin-left: 8.5pt;">Consultant (1996-2005)</div>
                  <div>1993&#160;-&#160;1995: STB Unternehmensentwicklungen AG (VZ Verm&#246;gensZentrum AG)</div>
                  <div style="margin-left: 8.5pt;">Associate</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z3e8d065f4b324017b824725ee753cfed">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1992 Master&#8217;s Degree in Business, University of St. Gallen, Switzerland</div>
                  <div>1990 Certificate in Psychology/Sociology, Universit&#233; de la Sorbonne, Paris, France</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="ze533d86ae0194471b8e62fce01c0d6e0">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Pension Fund CS Group (Schweiz), foundation board member</div>
                  <div>Pension Fund 2 CS Group (Schweiz), foundation board member</div>
                  <div>Credit Suisse Foundation, foundation board member</div>
                  <div>FINMA Private Banking Panel, member</div>
                  <div>SIX Group AG, board and risk committee member</div>
                  <div>Z&#252;rcher Handelskammer, board member</div>
                  <div>Swiss Entrepreneurs Foundation, foundation board member</div>
                  <div>Europa Forum Luzern, steering committee member</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">57</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="ze533d86ae0194471b8e62fce01c0d6e0">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div>University of St. Gallen &#8211; Center for Financial Services Innovation, advisory board member</div>
                  <div>Venture Incubator AG, board vice chairman</div>
                  <div>Swiss-American Chamber of Commerce, member</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zbad0be158b81410282d3e660ee709d18">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">
                  <div style="text-align: justify;">Dixit Joshi</div>
                </td>
                <td style="width: 24.22%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2022&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Chief Financial Officer (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Executive Board (2022&#160;-&#160;present)</div>
                  <div>2011&#160;-&#160;2022: Deutsche Bank AG</div>
                  <div style="margin-left: 8.5pt;">Group Treasurer (2017&#160;-&#160;2022)</div>
                  <div style="margin-left: 8.5pt;">Head of ICG Debt, Listed Derivatives and Markets Clearing (2016&#160;-&#160;2017)</div>
                  <div style="margin-left: 8.5pt;">Head of Global Prime Finance (2015&#160;-&#160;2016)</div>
                  <div style="margin-left: 8.5pt;">Head of APAC Equities (2011&#160;-&#160;2015)</div>
                  <div>2003&#160;-&#160;2010: Barclays Capital</div>
                  <div style="margin-left: 8.5pt;">Head of EMEA Equities (2008&#160;-&#160;2010)</div>
                  <div style="margin-left: 8.5pt;">Head of Equity Derivatives (2003&#160;-&#160;2008)</div>
                  <div>1995&#160;-&#160;2003: Credit Suisse First Boston</div>
                  <div style="margin-left: 8.5pt;">Various roles in the Equity Trading Business, New York and London</div>
                  <div>1992&#160;-&#160;1995: Standard Bank of South Africa</div>
                </td>
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        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z61bc97a6332f469c86ac1757c9d0fa23">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1992 Bachelor of Science in Actuarial Science and Statistics, University of the Witwatersrand, South Africa</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="ze246a74540a64eaabe96d3176af31b68">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Pratham UK, board member</div>
                  <div>Student Sponsorship Programme (SSP) &#8211; South Africa, trustee</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zfa975d95f2e143349fdac09020b27d98">

                <tr>
                  <td style="width: 26.22%; vertical-align: top;">
                    <div style="text-align: justify;">Edwin Low</div>
                  </td>
                  <td style="width: 24.22%; vertical-align: top;">
                    <div style="text-align: justify;">Credit Suisse</div>
                    <div>One Raffles Link</div>
                    <div>South Lobby,&#160;#&#160;03/#04-01</div>
                    <div>Singapore 039393</div>
                    <div>Singapore</div>
                  </td>
                  <td style="width: 49.56%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Professional history</div>
                    <div>1996&#160;-&#160;present: Credit Suisse</div>
                    <div style="margin-left: 8.5pt;">CEO Region Asia Pacific (2022&#160;-&#160;present)</div>
                    <div style="margin-left: 8.5pt;">Member of the Executive Board (2022&#160;-&#160;present)</div>
                    <div style="margin-left: 8.5pt;">Co-Head of Investment Bank APAC (2022)</div>
                    <div style="margin-left: 8.5pt;">CEO Southeast Asia and Frontier Markets (2019&#160;-&#160;2022)</div>
                    <div style="margin-left: 8.5pt;">Co-Head of Investment Banking &amp; Capital Markets APAC (2015&#160;-&#160;2022)</div>
                    <div style="margin-left: 8.5pt;">Co-Head of IBCM Southeast Asia (2012&#160;-&#160;2015)</div>
                    <div style="margin-left: 8.5pt;">Deputy CEO Singapore (2011&#160;-&#160;2016)</div>
                    <div style="margin-left: 8.5pt;">Head of Singapore and Malaysia Coverage, IBCM (2006&#160;-&#160;2015)</div>
                    <div style="margin-left: 8.5pt;">Head of Singapore Coverage, IBCM (2004&#160;-&#160;2006)</div>
                    <div style="margin-left: 8.5pt;">Head of Corporate Finance Southeast Asia, IBCM (1998&#160;-&#160;2004)</div>
                    <div style="margin-left: 8.5pt;">Associate Corporate Finance (1996&#160;-&#160;1998)</div>
                    <div>1994&#160;-&#160;1995: Schroders plc</div>
                    <div style="margin-left: 8.5pt;">Associate</div>
                    <div>1990&#160;-&#160;1992: Mallesons Stephen Jaques</div>
                    <div style="margin-left: 8.5pt;">Associate</div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
          </div>
          <br>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z4ec0d6d594364e078787f4cb139f9a88">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1994 MBA, Australian Graduate School of Management, University of New South Wales, Australia</div>
                  <div>1990 Bachelor of Law, University of Western Australia, Australia</div>
                  <div>1989 Bachelor of Jurisprudence, University of Western Australia, Australia</div>
                </td>
              </tr>

          </table>
          <div><br>
          </div>
          <div><br>
          </div>
          <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">58</font></div>
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          </div>
          <div><br>
          </div>
          <br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z2390798d36a047a98b0ca72c9a5300f8">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Mr. Low currently does not hold directorships in other organizations</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zdb918c0f70fc4cd980e116a193c7e307">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">
                  <div style="text-align: justify;">Francesca McDonagh</div>
                </td>
                <td style="width: 24.22%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2022&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Group Chief Operating Officer (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Executive Board (2022&#160;-&#160;present)</div>
                  <div>2017&#160;-&#160;2022: Bank of Ireland</div>
                  <div style="margin-left: 8.5pt;">Group CEO</div>
                  <div>1997&#160;-&#160;2017: HSBC</div>
                  <div style="margin-left: 8.5pt;">Group General Manager, Retail Banking and Wealth Management, HSBC UK and Europe (2014&#160;-&#160;2017)</div>
                  <div style="margin-left: 8.5pt;">Regional Head, Retail Banking and Wealth Management, HSBC Middle East and North Africa (2011&#160;-&#160;2013)</div>
                  <div style="margin-left: 8.5pt;">Head of Personal Financial Services, HSBC Hong Kong (2009&#160;-&#160;2011)</div>
                  <div style="margin-left: 8.5pt;">Head of Personal Financial Services, HSBC Panama (2007&#160;-&#160;2009)</div>
                  <div style="margin-left: 8.5pt;">Head of Premier Banking, HSBC Mexico (2004&#160;-&#160;2007)</div>
                  <div style="margin-left: 8.5pt;">Head of Personal Banking, HSBC Indonesia (2001&#160;-&#160;2004)</div>
                  <div style="margin-left: 8.5pt;">Manager, HSBC Group Strategy Implementation, UK (2001)</div>
                  <div style="margin-left: 8.5pt;">Various roles (1997&#160;-&#160;2000)</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zd084954f43cd45049031a2fe3f74f95c">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1996 Bachelor of Arts in Philosophy and Economics, Oxford University, UK</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z2d1c8d0697c44f388ec59c0aff137218">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Ms. McDonagh currently does not hold directorships in other organizations</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zc95547066ce6448595d4f555e4d96aa2">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">
                  <div style="text-align: justify;">Nita Patel</div>
                </td>
                <td style="width: 24.22%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2022&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Chief Compliance Officer (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Executive Board (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Chief Compliance Officer, Asset Management, Credit Suisse International, Credit Suisse Securities (Europe) Limited and Credit Suisse AG London Branch (2021&#160;-&#160;2022)</div>
                  <div style="margin-left: 8.5pt;">Chief Compliance Officer, UK &amp; EMEA Investment Bank (2021)</div>
                  <div>2004&#160;-&#160;2001: Goldman Sachs</div>
                  <div style="margin-left: 7.5pt;">Chief Compliance Officer, EMEA and APAC (2012&#160;-&#160;2021)</div>
                  <div style="margin-left: 7.5pt;">Compliance Officer, Fixed Income and Equities Trading Desks (2004&#160;-&#160;2012)</div>
                  <div>2000&#160;-&#160;2004: Nomura</div>
                  <div style="margin-left: 7.5pt;">Compliance Officer, Fixed Income</div>
                  <div>1998&#160;-&#160;2000: Bear Stearns</div>
                  <div style="margin-left: 8.5pt;">Regulatory Change</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z1960cd5210e442d6a5924ccb5e0eacdd">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Education</div>
                  <div>1997 Master of Science in Finance and Investment, Brunel University, UK</div>
                  <div>1996 Bachelor of Arts in Business Studies &#8211; Elective Finance, Southbank University, UK</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">59</font></div>
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        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z06f843e6dbbc48069836b1a8be5c40e5">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                  <div>Ms. Patel currently does not hold directorships in other organizations</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z5c3f9e6bcec34616b1567d0a4d3de312">

              <tr>
                <td style="width: 26.22%; vertical-align: top;">
                  <div style="text-align: justify;">David Wildermuth</div>
                </td>
                <td style="width: 24.22%; vertical-align: top;">
                  <div style="text-align: justify;">Credit Suisse Group AG</div>
                  <div style="text-align: justify;">Paradeplatz 8</div>
                  <div style="text-align: justify;">8001 Zurich</div>
                  <div style="text-align: justify;">Switzerland</div>
                </td>
                <td style="width: 49.56%; vertical-align: top;">
                  <div style="text-align: justify; font-weight: bold;">Professional history</div>
                  <div>2022&#160;-&#160;present: Credit Suisse</div>
                  <div style="margin-left: 8.5pt;">Chief Risk Officer (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Executive Board (2022&#160;-&#160;present)</div>
                  <div style="margin-left: 8.5pt;">Member of the Sustainability Advisory Committee (2022&#160;-&#160;present)</div>
                  <div>1997&#160;-&#160;2022: Goldman Sachs</div>
                  <div style="margin-left: 8.5pt;">Deputy Chief Risk Officer (2015&#160;-&#160;2022)</div>
                  <div style="margin-left: 8.5pt;">Partner (2010&#160;-&#160;2022)</div>
                  <div style="margin-left: 8.5pt;">Global Chief Credit Officer &amp; Global Head Credit Risk Management and Advisory (2012&#160;-&#160;2018)</div>
                  <div style="margin-left: 8.5pt;">Chief Risk Officer EMEA &amp; Global Chief Credit Officer (2008&#160;-&#160;2012)</div>
                  <div style="margin-left: 8.5pt;">Managing Director, Risk Management (2001&#160;-&#160;2008)</div>
                  <div style="margin-left: 8.5pt;">Vice President Credit Risk (1997&#160;-&#160;2001)</div>
                  <div style="text-indent: -7.1pt; margin-left: 7.55pt;">1987&#160;-&#160;1997: ABN AMRO Bank</div>
                  <div style="margin-left: 8.5pt;">Various roles in Corporate Finance, Leveraged Finance, Real Estate Finance and Credit Management</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z92b9dcdc45f546c69fa6d6cb9657192c">

                <tr>
                  <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                  <td style="width: 49.56%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Education</div>
                    <div>1986 Bachelor of Arts in Economics and Computer Science, Dartmouth College, United States</div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zfeb78cd9a4cf476e9170e8c446986d42">

                <tr>
                  <td style="width: 26.22%; vertical-align: top;">&#160;</td>
                  <td style="width: 24.22%; vertical-align: top;">&#160;</td>
                  <td style="width: 49.56%; vertical-align: top;">
                    <div style="text-align: justify; font-weight: bold;">Other activities and functions</div>
                    <div>East Harlem Scholars Academy, member of the board of trustees</div>
                  </td>
                </tr>

            </table>
          </div>
          <br>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> <br>
          </div>
          <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">There are no conflicts of interest between the private interests or other duties of the members of the Executive Board listed above and their respective duties to CSG.</div>
        </div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Legal Proceedings and Convictions</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">There have been no convictions against any of the members of the Executive Board listed under &#8220;&#8213;<font style="font-style: italic;">Composition of the Executive Board</font>&#8221;
          above for major or minor economic or white-collar crimes in the last five years, and no legal proceedings against any such member of the Executive Board by statutory or regulatory authorities (including designated professional associations) are
          ongoing or have been concluded with a sanction.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Committees of the Executive Board</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Executive Board has the following regular committees: the Executive Board Risk Management Committee (the &#8220;<font style="font-weight: bold;">ExB RMC</font>&#8221;), the Group
          Capital Allocation and Liability Management Committee (the &#8220;<font style="font-weight: bold;">Group CALMC</font>&#8221;), the Credit Suisse AG Parent Capital Allocation, Liability and Risk Management Committee (the &#8220;<font style="font-weight: bold;">CS
            AG Parent CALRMC</font>&#8221;), the Valuation Risk Management Committee (the &#8220;<font style="font-weight: bold;">VARMC</font>&#8221;), and the Group Conduct Board (the &#8220;<font style="font-weight: bold;">GCB</font>&#8221;).</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The ExB RMC (co-chaired by the Group CEO, the Chief Risk Officer and the Chief Compliance Officer) is primarily responsible for steering and monitoring the development and
          execution of the Group&#8217;s risk strategy, approving risk appetite across all risk types for the Group, its divisions and regions, as well as reviewing the aggregate and top risk exposures, major risk concentrations and key non-financial risks. The
          ExB RMC approves risk limit applications that require final approval by the Risk Committee or the Board. The ExB RMC is also responsible for assessing the appropriateness and efficiency of the internal control system and serves as an escalation
          point for risk issues raised by subordinated risk committees or Executive Board members.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Group CALMC reviews the funding and balance sheet trends and activities, plans and monitors regulatory and business liquidity requirements and internal and regulatory
          capital adequacy. The Group CALMC also reviews the Group and Credit Suisse AG contingency funding plan and proposes it for approval by the Board, reviews the position taking of interest rate risk in the banking book and decides on changes in
          approaches relating</div>
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            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">60</font></div>
            <div><br>
            </div>
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        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="text-align: justify; margin-bottom: 10pt;">to investment of own equity. Further, it sets targets, approves and reviews adherence to internal targets for capital allocation, funding, liquidity and capital management actions, including
          the review and monitoring of share repurchases.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The CS AG Parent CALRMC reviews the capital management, liquidity management and risk management matters of Credit Suisse AG. The CS AG Parent CALRMC, among other things,
          reviews and approves all risk limit applications for Credit Suisse AG requiring final approval by the Board, and sets risk standards and strategies for Credit Suisse AG complementing the overall Group risk management with considerations regarding
          Credit Suisse AG-specific vulnerabilities. The committee also monitors and reviews Credit Suisse AG&#8217;s aggregate risk profile in particular Credit Suisse AG-specific vulnerabilities, and reviews the capital, liquidity and funding trends and
          activities of Credit Suisse AG.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The VARMC is responsible for establishing policies regarding the valuation of certain important assets and the policies and calculation methodologies applied in the valuation
          process. Further, the VARMC is responsible for monitoring and assessing valuation risks and reviewing inventory valuation conclusions.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The GCB (co-chaired by the Global Head of Human Resources together with one of the other Executive Board members appointed to the GCB on an annually rotating basis) is
          responsible for overseeing conduct matters and ensuring consistency and alignment of practices across the Group. The GCB oversees the global disciplinary process and measures and serves as a review panel to consider potential significant events
          and individual compensation. The GCB also reviews findings from conduct related investigations and considers these in the context of determining disciplinary outcomes.</div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">COMPENSATION, SHAREHOLDINGS AND LOANS</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Compensation of the Board of Directors</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">For information on compensation of the Board, see &#8220;<font style="font-style: italic;">V&#8212;Compensation&#8212;Board of Directors compensation</font>&#8221; in the 2021 Annual Report, on
          pages&#160;267 to 271 thereof.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Board Shareholdings and Loans</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As of November&#160;9, 2022, the members of the Board (including immediate family members and companies in which they have a controlling interest) collectively held
          1,282,175&#160;Shares, corresponding to 0.05% of the voting rights in CSG as of November&#160;9, 2022, and no option rights or Share awards.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">For further information on Board shareholdings and loans outstanding as of December&#160;31, 2021, see &#8220;<font style="font-style: italic;">&#8212;Board shareholdings</font>&#8221; and &#8220;<font style="font-style: italic;">&#8212;Board loans</font>&#8221; in &#8220;<font style="font-style: italic;">V&#8212;Compensation&#8212;Board of Directors compensation</font>&#8221; and &#8220;<font style="font-style: italic;">Note&#160;24&#8212;Shareholdings</font>&#8221; in &#8220;<font style="font-style: italic;">VII&#8212;Parent company financial statements&#8212;Credit Suisse Group</font>&#8221; in the 2021 Annual Report, on page<font style="font-style: italic;">&#160;</font>271 and pages<font style="font-style: italic;">&#160;</font>452 to 453, respectively, thereof.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Compensation of the Executive Board</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">For information on compensation of the Executive Board, including compensation structure and awards, see &#8220;<font style="font-style: italic;">V&#8212;Compensation&#8212;Executive Board
            compensation</font>&#8221; in the 2021 Annual Report, on pages&#160;246 to 257 thereof.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Executive Board Shareholdings and Loans</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As of November&#160;9, 2022, the members of the Executive Board (including immediate family members and companies in which they have a controlling interest) collectively held
          744,580&#160;Shares (corresponding to 0.03% of the voting rights in CSG as of November&#160;9, 2022) and 1,684,260 Share awards without voting rights (which, if and when vested, corresponding to 0.06% of the voting rights of CSG as of November&#160;9, 2022).</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">For further information on Executive Board shareholdings, loans and other outstanding awards outstanding as of December&#160;31, 2021, see &#8220;<font style="font-style: italic;">V&#8212;Compensation&#8212;Executive


            Board compensation</font>&#8221; and &#8220;<font style="font-style: italic;">Note&#160;24&#8212;Shareholdings</font>&#8221; in &#8220;<font style="font-style: italic;">VII&#8212;Parent company financial statements&#8212;Credit Suisse Group</font>&#8221; in the 2021 Annual Report, on pages<font style="font-style: italic;">&#160;</font>246 to 257 and pages<font style="font-style: italic;">&#160;</font>452 to 453, respectively, thereof.</div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">61</font></div>
            <div><br>
            </div>
          </div>
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        <div style="margin-bottom: 10pt; font-weight: bold;">BANKING RELATIONSHIPS WITH BOARD AND EXECUTIVE BOARD MEMBERS<a name="BANKINGRELATIONSHIPSWITHB"><!--Anchor--></a></div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Group is a global financial services provider. Many of the members of the Board and the Executive Board, their close family members or companies associated with them
          maintain banking relationships with us. The Group or any of its banking subsidiaries may from time to time enter into financing and other banking agreements with companies in which current members of the Board or the Executive Board have a
          significant influence as defined by the SEC, such as holding executive and/or board level roles in these companies. During 2021 and during 2022 to date, there were no transactions with members of the Board or the Executive Board and such
          companies that were not in the ordinary course of business and entered into on an arm&#8217;s length basis. Also, unless otherwise noted, all loans to members of the Board, members of the Executive Board, their close family members or companies
          associated with them were made in the ordinary course of business, were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons, and did not
          involve more than the normal risk of collectability or present other unfavorable features. As of December&#160;31, 2021, December&#160;31, 2020, and December&#160;31, 2019, there were no loan exposures to such related parties that were not made in the ordinary
          course of business and at prevailing market conditions. See &#8220;<font style="font-style: italic;">V&#8212;Compensation&#8212;Board of Directors compensation</font>&#8221; and &#8220;<font style="font-style: italic;">V&#8212;Compensation&#8212;Executive Board compensation</font>&#8221; in
          the 2021 Annual Report, on pages&#160;267 to 271 and pages&#160;246 to 257, respectively, thereof, for a list of the outstanding loans to members of the Board and the Executive Board as of December&#160;31, 2021.</div>
        <div><br>
        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
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        <div style="margin-bottom: 10pt; font-weight: bold;">SHAREHOLDERS<a name="SHAREHOLDERS"><!--Anchor--></a></div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">SHAREHOLDER BASE</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">CSG has a broad shareholder base, with the majority of Shares owned directly or indirectly by institutional investors outside Switzerland. Through the use of an external
          global market intelligence firm, CSG regularly gathers additional information on the composition of its shareholder base, including information on Shares that are not registered in its share register. According to this data, CSG&#8217;s shareholder
          base as of December&#160;31, 2021, was comprised of 86% institutional investors, 11% private investors and 3% other investors. The geographical break down of our institutional investors as of the same date was as follows: 53% North America, 20%
          Switzerland, 13% UK and Ireland, 6% other continental Europe and 8% the rest of the world.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As of December&#160;31, 2021, 103,360 shareholders were listed in CSG&#8217;s share register. To the best of CSG&#8217;s knowledge, there are no agreements in place that could lead to a
          change in control of the Group. As of December&#160;31, 2021, 139,053,328, or 5.25%, of the issued Shares were in the form of ADS.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">For further information on CSG&#8217;s shareholder base, including distribution of shareholdings by investor type and region, refer to &#8220;<font style="font-style: italic;">IV&#8212;Corporate


            Governance&#8212;Shareholders</font>&#8221; in the 2021 Annual Report, on pages&#160;191 to 196 thereof.</div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">SIGNIFICANT SHAREHOLDERS</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The following table and the footnotes thereto disclose significant shareholders and significant groups of shareholders of CSG and their shareholdings (including purchase and
          sale positions according to the Swiss Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading of June 19, 2015, as amended (&#8220;<font style="font-weight: bold;">FMIA</font>&#8221;) and its implementing
          ordinance). This information is provided based solely on the notifications received by CSG in accordance with article&#160;120 et seq. of the FMIA from the relevant shareholders and groups of shareholders of CSG, and published on the official website
          of SIX Exchange Regulation AG (https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/) and marked as current at 0:01 a.m. (CET) on the date of this document. The shareholdings (including purchase and
          sale positions) of such shareholders and groups of shareholders may have changed since the date of applicable notification. See also &#8220;<font style="font-style: italic;">Description of CSG&#8217;s Share Capital and the Shares&#8212;Description of the
            Shares&#8212;Notification and Disclosure of Major Shareholders</font>.&#8221;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zb5d4566fb3c6418db43e73580ebf291d">

            <tr>
              <td rowspan="2" style="width: 30.3%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="text-align: center; font-size: 8pt; font-weight: bold;">Beneficial owner&#160;/ person that can exercise the voting rights at their own discretion&#160;/ licensee in the case of collective investment schemes</div>
              </td>
              <td rowspan="2" style="width: 21.22%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="text-align: center; font-size: 8pt; font-weight: bold;">Direct shareholder&#160;/ collective investment scheme in the case of collective investment schemes</div>
              </td>
              <td colspan="2" style="width: 48.48%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="text-align: center;"><font style="font-size: 8pt; font-weight: bold;">Purchase position&#160;/ sale position</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
              </td>
            </tr>
            <tr>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="text-align: center; font-size: 8pt; font-weight: bold;">(in number of voting rights as of the date of the applicable notification)</div>
              </td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="text-align: center; font-size: 8pt; font-weight: bold;">(in % of total voting rights as of the date of the applicable notification)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 30.3%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="font-size: 8pt;">BlackRock, Inc.,<br>
                  New York, NY, USA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
              </td>
              <td style="width: 21.22%; vertical-align: top; border-bottom: #000000 1px solid;">&#160;</td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 8.75pt; font-size: 8pt;">135,174,760 / 3,301,635</div>
              </td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 9.05pt; font-size: 8pt;">5.06%&#160; / 0.12%</div>
              </td>
            </tr>
            <tr>
              <td style="width: 30.3%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="font-size: 8pt;">Dodge &amp; Cox,<br>
                  555 California Street, 40th Floor,<br>
                  San Francisco, CA 94104, USA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
              </td>
              <td style="width: 21.22%; vertical-align: top; border-bottom: #000000 1px solid;">&#160;</td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 8.75pt; font-size: 8pt;">122,215,841 / -</div>
              </td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 9.05pt; font-size: 8pt;">4.993% / -</div>
              </td>
            </tr>
            <tr>
              <td style="width: 30.3%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="font-size: 8pt;">Harris Associates Investment Trust,<br>
                  Chicago, USA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup></div>
              </td>
              <td style="width: 21.22%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="font-size: 8pt;">Oakmark International Fund,<br>
                  Chicago, USA</div>
                <div style="font-size: 8pt;">Oakmark Global Fund,<br>
                  Chicago, USA</div>
                <div style="font-size: 8pt;">Oakmark Global Select Fund,<br>
                  Chicago, USA</div>
              </td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 8.75pt; font-size: 8pt;">127,066,067 / -</div>
              </td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 9.05pt; font-size: 8pt;">4.97%&#160; / -</div>
              </td>
            </tr>
            <tr>
              <td style="width: 30.3%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="font-size: 8pt;">Harris Associates L.P.,<br>
                  2 N. LaSalle Street, Suite 500,<br>
                  Chicago, IL 60602, USA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(5)</sup></div>
              </td>
              <td style="width: 21.22%; vertical-align: top; border-bottom: #000000 1px solid;">&#160;</td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 8.75pt; font-size: 8pt;">&#160;&#160;81,531,719 / -</div>
              </td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 9.05pt; font-size: 8pt;">5.17%&#160; / -</div>
              </td>
            </tr>
            <tr>
              <td style="width: 30.3%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="font-size: 8pt;">Khaled Olayan,<br>
                  Al-Khobar, Saudi Arabia</div>
                <div style="font-size: 8pt;">Lubna Olayan,<br>
                  Riyadh, Saudi Arabia</div>
                <div style="font-size: 8pt;">Hayat Olayan,<br>
                  Jeddah, Saudi Arabia</div>
                <div style="font-size: 8pt;">trust for the benefit of Hutham Olayan,<br>
                  Vaduz, Furstentum Liechtenstein<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup></div>
              </td>
              <td style="width: 21.22%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="font-size: 8pt;">Competrol Establishment,<br>
                  Herrengasse 2, FL-9490 Vaduz, Liechtenstein</div>
                <div style="font-size: 8pt;">Lubna Olayan,<br>
                  Riyadh, Saudi Arabia</div>
              </td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 8.75pt; font-size: 8pt;">127,788,106 / -</div>
              </td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 9.05pt; font-size: 8pt;">4.999% / -</div>
              </td>
            </tr>
            <tr>
              <td style="width: 30.3%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="font-size: 8pt;">Qatar Investment Authority,<br>
                  Doha, State of Qatar<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
              </td>
              <td style="width: 21.22%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="font-size: 8pt;">Qatar Holding LLC,<br>
                  Doha, State of Qatar</div>
              </td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 8.75pt; font-size: 8pt;">133,217,522 / -</div>
              </td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 9.05pt; font-size: 8pt;">5.026% / -</div>
              </td>
            </tr>
            <tr>
              <td style="width: 30.3%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="font-size: 8pt;">Saudi National Bank,<br>
                  Riyadh, Kingdom of Saudi Arabia<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(8)</sup></div>
              </td>
              <td style="width: 21.22%; vertical-align: top; border-bottom: #000000 1px solid;">&#160;</td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 8.75pt; font-size: 8pt;">395,474,943 / -</div>
              </td>
              <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                <div style="margin-left: 9.05pt; font-size: 8pt;">14.92% / -</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">63</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 30.3%; vertical-align: top; border-bottom: #000000 1px solid;">
                  <div style="font-size: 8pt;">Silchester International Investors LLP,<br>
                    1 Bruton Street, W1J 6TL London, United Kingdom<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(9)</sup></div>
                </td>
                <td style="width: 21.22%; vertical-align: top; border-bottom: #000000 1px solid;">&#160;</td>
                <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                  <div style="margin-left: 8.75pt; font-size: 8pt;">&#160;&#160;&#160;&#160;77,379,165 / -</div>
                </td>
                <td style="width: 24.24%; vertical-align: top; border-bottom: #000000 1px solid;">
                  <div style="margin-left: 9.05pt; font-size: 8pt;">&#160;&#160;&#160;3.03%&#160; / -</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;&#160;&#160;The percentages shown in this column were calculated by the relevant shareholders and groups of shareholders based on the number of Shares registered with the commercial register of
          the Canton of Zurich as of the date of the applicable notification, which may be different from the number of Shares registered with the commercial register of the Canton of Zurich as of the date of this document.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup>&#160;&#160;&#160;For further details, please see the notification dated January&#160;26, 2022, available at
          https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TAM1O00049.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup>&#160;&#160;&#160;For further details, please see the notification dated September&#160;19, 2020, available at
          https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TAK9I00061.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup>&#160;&#160;&#160;For further details, please see the notification dated July&#160;25, 2018, available at
          https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TAI7V00047.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;">According to the above-described notification, the voting rights disclosed by Harris Associates L.P. in its notification dated November&#160;4, 2013 (see footnote (5) below), include all the Shares held
          by Harris Associates Investment Trust.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(5)</sup>&#160;&#160;&#160;According to the notification of Harris Associates Investment Trust dated July&#160;25, 2018 (see footnote (4) above), the voting rights disclosed by Harris Associates L.P. in its
          notification dated November&#160;4, 2013, include all the Shares held by Harris Associates Investment Trust.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;">For further details, please see the notification dated November&#160;4, 2013, available at
          https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TADB700036.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup>&#160;&#160;&#160;Immediate Family of the late Suliman S. Olayan Hutham Olayan is a resident of New York, USA.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;">For further details, please see the notification dated December&#160;12, 2018, available at
          https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TBICB00018.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup>&#160;&#160;&#160;Qatar Investment Authority (established as a government entity of the State of Qatar), the address of which is Ooredoo Tower (Building 14), Al Dafna Street (Street 801), Al Dafna
          (Zone 61), Doha, State of Qatar Holding LLC (a wholly-owned subsidiary of Qatar Investment Authority), the address of which is Ooredoo Tower (Building 14), Al Dafna Street (Street 801), Al Dafna (Zone 61), Doha, State of Qatar.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;">For further details, please see the notification dated November&#160;11, 2021, available at
          https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TALBG00023.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(8)</sup>&#160;&#160;&#160;Pursuant to the relevant Purchase and Subscription Agreement, Saudi National Bank has purchased 307,591,623&#160;Non-Preemptive Shares. Such Non-Preemptive Shares will be allotted Rights
          in the Rights Offering, which will entitle Saudi National Bank to subscribe for 87,883,320&#160;Offered Shares and which Saudi National Bank has committed to exercise. Immediately after the registration of the Offered Shares in the commercial register
          of the Canton of Zurich, Saudi National Bank is expected to hold 395,474,943&#160;Shares (representing 9.9% of the share capital of CSG expected to be registered in the commercial register of the Canton of Zurich upon completion of the Offering).</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;">For further details, please see the notification dated November&#160;3, 2022, available at
          https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TAMAH00088.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(9)</sup>&#160;&#160;&#160;Silchester International Investors LLP (&#8220;<font style="font-weight: bold;">Silchester</font>&#8221;) acts as investment manager for a number of commingled funds (its &#8220;<font style="font-weight: bold;">Clients</font>&#8221;). Silchester is given full discretion over Client investments and the authority to vote proxies on their behalf. However, Silchester does not act as custodian and therefore Shares are not held in
          Silchester&#8217;s name but in the name of each Client&#8217;s custodian.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;">The Clients as of the date of the applicable notification were (i)&#160;Silchester International Investors International Value Equity Taxable Trust, c/o Silchester International Investors, Inc., 780
          Third Avenue, 42nd Floor, New York, NY 10017, USA, (ii)&#160;Silchester International Investors International Value Equity Trust, c/o Silchester International Investors, Inc., 780 Third Avenue, 42nd Floor, New York, NY 10017, USA, (iii)&#160;Silchester
          International Investors International Value Equity Group Trust, c/o Silchester International Investors, Inc., 780 Third Avenue, 42nd Floor, New York, NY 10017, USA, (iv)&#160;Silchester International Investors International Tobacco Free International
          Value Equity Trust, c/o Silchester International Investors, Inc., 780 Third Avenue, 42nd Floor, New York, NY 10017, USA, and (v)&#160;The Calleva Trust, c/o Northern Trust Fiduciary Services (Ireland) Limited, George&#8217;s Court, 54-62 Townend Street,
          Dublin 2, Ireland.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 8pt;">For further details, please see the notification dated December&#160;7, 2018, available at
          https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TAIC400045.</div>
        <div><br>
        </div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">CROSS SHAREHOLDINGS</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Group has no cross shareholdings in excess of 5% of capital or voting rights with any other company.</div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">64</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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            <div><br>
            </div>
          </div>
        </div>
        <div style="margin-bottom: 10pt; font-weight: bold;">DESCRIPTION OF CSG&#8217;S SHARE CAPITAL AND THE SHARES<a name="DESCRIPTIONOFCSGSSHARECAP"><!--Anchor--></a></div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt; font-style: italic;">This summary contains certain information in relation to the share capital of CSG and the Shares, as well as a brief description of certain significant
          provisions of CSG&#8217;s articles of association (Statuten) and the Swiss Code of Obligations. This description does not purport to be complete and is qualified in its entirety by reference to CSG&#8217;s articles of association (Statuten) and the laws of
          Switzerland in effect on the date of this document.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt; font-style: italic;">In particular, on June&#160;19, 2020, the Swiss Parliament approved legislation that will modernize certain aspects of Swiss corporate law. This legislative
          reform addresses, among other things, (i)&#160;the modernization of and increased flexibility for a stock corporation&#8217;s capital base, (ii)&#160;the strengthening of shareholder rights, (iii)&#160;certain changes to financial distress/restructuring measures,
          (iv)&#160;corporate governance and executive compensation matters (including, among other things, the incorporation of the Compensation Ordinance into the Swiss Code of Obligations), and (v)&#160;certain socio-political topics (e.g., gender representation
          and disclosure requirements for companies active in the raw materials sector). Other than with respect to the new rules on gender representation and disclosure requirements for companies active in the raw materials sector, which, subject to
          transitional periods, came into effect on January&#160;1, 2021, the new legislation will come into effect on January&#160;1, 2023 (with certain transitional periods as provided for therein). In light of this legislative reform, certain items described
          below will be subject to modification pursuant to this new legislation. Further, it is expected that the Board will propose certain amendments to CSG&#8217;s articles of association (Statuten) at the next AGM to align CSG&#8217;s articles of association
          (Statuten) with the requirements of this new legislation.</div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">CAPITAL STRUCTURE</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Overview of the Capital Structure</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As of the date of this document, after registration of the Non-Preemptive Shares with the commercial register of the Canton of Zurich, CSG has issued share capital of
          CHF&#160;124,511,584.16, divided into 3,112,789,604 registered shares with a nominal value of CHF&#160;0.04 each, as well as (i)&#160;authorized share capital in the amount of CHF&#160;5,000,000 authorizing the Board to issue at any time until April&#160;29, 2024, up to
          125,000,000 registered shares, to be fully paid in, with a nominal value of CHF&#160;0.04 each, (ii)&#160;conditional share capital in the amount of CHF&#160;12,000,000, for the issuance of a maximum 300,000,000 registered shares with a nominal value of
          CHF&#160;0.04 each, as more particularly described below, and (iii)&#160;conversion share capital in the amount of CHF&#160;6,000,000, for the issuance of a maximum of 150,000,000 registered shares, to be fully paid in, with a nominal value of CHF&#160;0.04 each,
          through the compulsory conversion upon occurrence of the trigger event of claims arising out of contingent convertible bonds of CSG or any other member of the Group, or other financial market instruments of CSG or any other member of the Group,
          that provide for a contingent or unconditional compulsory conversion into shares of CSG.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Pursuant to article&#160;26 of the Articles, CSG&#8217;s conditional share capital consists of CHF&#160;12,000,000, for the issuance of a maximum of 300,000,000 registered shares with a
          nominal value of CHF&#160;0.04 each, reserved for the purpose of increasing share capital through the conversion of bonds or other financial market instruments of CSG, or any other member of the Group, that allow for contingent compulsory conversion
          into CSG&#8217;s shares and that are issued in order to fulfill or maintain compliance with regulatory requirements of CSG and/or any of other member of the Group (contingent convertible bonds).</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The issued share capital of CHF&#160;124,511,584.16 described above includes the ordinary capital increase against cash contributions in the amount of CHF&#160;18,481,675.36, divided
          into 462,041,884 registered shares with a nominal value of CHF&#160;0.04 each (i.e., the Non-Preemptive Shares), approved by CSG&#8217;s shareholders at the EGM held on November&#160;23, 2022, and executed by the Board on November&#160;24, 2022, and registered with
          the commercial register of the Canton of Zurich on the same day. The Non-Preemptive Shares are expected to be delivered as intermediated securities (<font style="font-style: italic;">Bucheffekten</font>) within the meaning of the Swiss Federal
          Intermediated Securities Act of October 3, 2008, as amended (the &#8220;<font style="font-weight: bold;">FISA</font>&#8221;), to the Private Investors against payment of the purchase price pursuant to the Purchase and Subscription Agreements on November&#160;25,
          2022.</div>
        <div style="text-align: left; margin-bottom: 10pt; color: #000000; font-weight: bold;">Authorized Share Capital</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As of the date of this document, the authorized share capital of CSG as set forth in article&#160;27 of the Articles amounts to CHF&#160;5,000,000 divided into 125,000,000 registered
          shares with a nominal value of CHF&#160;0.04 each.</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">65</font></div>
            <div><br>
            </div>
          </div>
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        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Article&#160;27 of the Articles reads as follows (translation from the German original):</div>
        <div style="margin-bottom: 10pt; font-style: italic;">ARTICLE&#160;27</div>
        <div style="margin-bottom: 10pt; font-style: italic;">AUTHORIZED CAPITAL</div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 10pt;" class="DSPFListTable" id="zb0b7d5785901497cbd4c473df3eb7b37">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 24.65pt; vertical-align: top; font-style: italic;">1</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-style: italic;">The Board of Directors is authorized, at any time until April&#160;29, 2024, to increase the share capital, as per Art.&#160;3 of the Articles of Association to a maximum of CHF&#160;5,000,000 through the issuance of a
                  maximum of 125,000,000 registered shares, to be fully paid up, each with a par value of CHF&#160;0.04. Increases by underwriting as well as partial increases are permissible. The issue price, the time of dividend entitlement, and the type of
                  contribution will be determined by the Board of Directors. Upon acquisition, the new shares will be subject to the transfer restrictions pursuant to Art.&#160;4 of the Articles of Association.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 10pt;" class="DSPFListTable" id="z83fa4cdd310c41359632968522d29b98">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 24.65pt; vertical-align: top; font-style: italic;">2</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-style: italic;">The Board of Directors is authorized to exclude shareholders&#8217; subscription rights in favor of third parties if the new registered shares are used for (a)&#160;the acquisition of companies, segments of companies
                  or participations in the banking, finance, asset management or insurance industries through an exchange of shares or (b)&#160;the financing/refinancing of the acquisition of companies, segments of companies or participations in these
                  industries, or new investment plans. If commitments to service convertible bonds or bonds with warrants are assumed in connection with company takeovers or investment plans, the Board of Directors is authorized, for the purpose of
                  fulfilling delivery commitments under such bonds, to issue new shares excluding the subscription rights of shareholders.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 10pt;" class="DSPFListTable" id="z6835d7064eba4fcba97a5e54fcbd12d2">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 24.65pt; vertical-align: top; font-style: italic;">3</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-style: italic;">The Board of Directors may allow subscription rights that are not exercised to expire without compensation, or it may sell the subscription rights or the registered shares for which they were granted at
                  market conditions on the market or otherwise use them in the interest of the Company.</div>
              </td>
            </tr>

        </table>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Conditional Share Capital</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As of the date of this document, the conditional share capital of CSG as set forth in article&#160;26 of the Articles amounts to CHF&#160;12,000,000, divided into 300,000,000
          registered shares with a nominal value of CHF&#160;0.04 each.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Article&#160;26 of the Articles reads as follows (translation from the German original):</div>
        <div style="margin-bottom: 10pt; font-style: italic;">ARTICLE&#160;26</div>
        <div style="margin-bottom: 10pt; font-style: italic;">CONDITIONAL CAPITAL</div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 10pt;" class="DSPFListTable" id="zee3d3b7af7c444ecbcdd92691508872d">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 24.65pt; vertical-align: top; font-style: italic;">1</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><font style="font-style: italic;">The Company&#8217;s share capital pursuant to Art.</font>&#160;<font style="font-style: italic;">3 of the Articles of Association shall be increased by an amount not exceeding CHF&#160;12,000,000 through the issue of
                    a maximum of 300,000,000 registered shares, to be fully paid in, each with a par value of CHF&#160;0.04 through the voluntary or compulsory exercise of conversion rights and/or warrants granted in connection with bonds or other financial
                    market instruments of Credit Suisse Group AG, or any of its Group companies, or through compulsory conversion of contingent convertible bonds (CoCos) or other financial market instruments of Credit Suisse Group AG, or any of its Group
                    companies, that allow for contingent compulsory conversion into shares of the Company.</font></div>
              </td>
            </tr>

        </table>
        <div style="text-align: justify; text-indent: 0.05pt; margin-left: 42.5pt; margin-bottom: 10pt; font-style: italic;">Shareholders&#8217; subscription rights are excluded. Holders of financial market instruments with conversion features and/or of warrants
          are entitled to subscribe to the new shares. The Board of Directors fixes the conversion/warrant conditions.</div>
        <div style="text-align: justify; text-indent: 0.05pt; margin-left: 42.5pt; margin-bottom: 10pt; font-style: italic;">The acquisition of shares through the exercise of conversion rights and/or warrants, or through the conversion of financial market
          instruments with conversion features, and any subsequent transfer of the shares are subject to the restrictions set out under Art.&#160;4 of these Articles of Association.</div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 10pt;" class="DSPFListTable" id="zb7ac03dc4f5e4fad884220f50c9e244b">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 24.65pt; vertical-align: top; font-style: italic;">2</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-style: italic;">Contingent capital pursuant to Art.&#160;26 of the Articles of Association is made available, subject to para.&#160;3, exclusively for the purpose of increasing share capital through the conversion of bonds or other
                  financial market instruments of Credit Suisse Group AG, or any of its Group companies, that allow for contingent compulsory conversion into the Company&#8217;s shares and that are issued in order to fulfil or maintain compliance with regulatory
                  requirements of the Company and/or any of its Group companies (contingent convertible bonds).</div>
              </td>
            </tr>

        </table>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">66</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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            <div><br>
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        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="text-align: justify; text-indent: 0.05pt; margin-left: 42.5pt; margin-bottom: 10pt; font-style: italic;">The Board of Directors is authorized when issuing such contingent convertible bonds to exclude shareholders&#8217; preferential
          subscription rights if these bonds are issued on the national or international capital markets (including private placements with selected strategic investors).</div>
        <div style="text-align: justify; text-indent: 0.05pt; margin-left: 42.5pt; margin-bottom: 10pt; font-style: italic;">If preferential subscription rights are restricted or excluded by resolution of the Board of Directors when contingent convertible
          bonds are issued:</div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za246a338a444486a835d5bfbf69746d3">

              <tr>
                <td style="width: 63.8pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 42.55pt; font-style: italic;">(i)</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify; font-style: italic;">the contingent convertible bonds must be issued at prevailing market conditions,</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z18027c2aafac4cab9755a1b9f620ed5b">

              <tr>
                <td style="width: 63.8pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 42.55pt; font-style: italic;">(ii)</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify; font-style: italic;">the setting of the issue price of the new shares must take due account of the stock market price of the shares and/or comparable instruments priced by the market at the time of issue
                    or time of conversion, and</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaa5137d35e2a43768edc8b0b5a2bea6e">

              <tr>
                <td style="width: 63.8pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 42.55pt; font-style: italic;">(iii)</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify; font-style: italic;">conditional conversion features may remain in place indefinitely.</div>
                </td>
              </tr>

          </table>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 10pt;" class="DSPFListTable" id="z86eb3b22afc6495abe3781c7012ae150">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 24.65pt; vertical-align: top; font-style: italic;">3</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-style: italic;">Deleted</div>
              </td>
            </tr>

        </table>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Conversion Share Capital</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As of the date of this document, the conversion share capital of CSG as set forth in article&#160;26c of the Articles amounts to CHF&#160;6,000,00, divided into 150,000,000 registered
          shares with a nominal value of CHF&#160;0.04 each.</div>
        <div style="text-align: justify; text-indent: 17.85pt; margin-bottom: 10pt;">Article&#160;26c of the Articles reads as follows (translation from the German original):</div>
        <div style="margin-bottom: 10pt; font-style: italic;">ARTICLE&#160;26C</div>
        <div style="margin-bottom: 10pt; font-style: italic;">CONVERSION CAPITAL</div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 10pt;" class="DSPFListTable" id="zbd78ea9a892141d8b7a53b09ec4df8af">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 24.55pt; vertical-align: top; font-style: italic;">1</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-style: italic;">The Company&#8217;s share capital pursuant to Art.&#160;3 of the Articles of Association shall be increased by an amount not exceeding CHF&#160;6,000,000 through the issue of a maximum of 150,000,000 registered shares, to
                  be fully paid in, each with a par value of CHF&#160;0.04, through the compulsory conversion upon occurrence of the trigger event of claims arising out of contingent convertible bonds (CoCos) of Credit Suisse Group AG or any of its Group
                  companies, or of other financial market instruments of Credit Suisse Group AG or any of its Group companies, that provide for a contingent or unconditional compulsory conversion into shares of the Company.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 10pt;" class="DSPFListTable" id="z7ee665038d1d4f9088a0c040257e5805">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 24.65pt; vertical-align: top; font-style: italic;">2</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-style: italic;">Shareholders&#8217; preemptive rights are excluded. Holders of financial market instruments with conversion features are entitled to subscribe to the new shares.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 10pt;" class="DSPFListTable" id="z0dac769537934c0fb7c1b4f6f44acda5">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 24.65pt; vertical-align: top; font-style: italic;">3</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-style: italic;">Shareholders&#8217; preferential subscription rights with regard to financial market instruments with conversion features will be granted. If a quick placement of contingent convertible bonds (CoCos) in large
                  tranches is required, the Board of Directors is authorized to exclude shareholders&#8217; preferential subscription rights. In such circumstances, these contingent convertible bonds (CoCos) must be issued at prevailing market conditions.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 10pt;" class="DSPFListTable" id="z7476ca826c3f4673a85adef586713a07">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 24.65pt; vertical-align: top; font-style: italic;">4</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-style: italic;">The Board of Directors determines the issue price of the new shares taking due account of the stock market price of the shares and/or comparable instruments.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 10pt;" class="DSPFListTable" id="z916872871a5e44288c7aadac5dfeebe1">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 24.65pt; vertical-align: top; font-style: italic;">5</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-style: italic;">The acquisition of shares through the conversion of financial market instruments with conversion features, and any subsequent transfer of the shares are subject to the restrictions set out under Art.&#160;4 of
                  these Articles of Association.</div>
              </td>
            </tr>

        </table>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Creation of the Offered Shares</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Offered Shares will be newly issued by CSG in an ordinary share capital increase against cash contribution resolved by CSG&#8217;s shareholders at the EGM held on November&#160;23,
          2022.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">On or around December&#160;7, 2022, the Board expects to implement the above-described capital increase (<font style="font-style: italic;">Feststellungsbeschluss</font>), along
          with the relevant amendments to the Articles. The listing of the Offered Shares under the International Reporting Standard of the SIX (the &#8220;<font style="font-weight: bold;">International Reporting Standard</font>&#8221;) is expected to become
          effective, and trading in the Offered Shares on the SIX is expected to commence, on December&#160;9, 2022.</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div class="BRPFPageFooter">
            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">67</font></div>
            <div><br>
            </div>
          </div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div class="BRPFPageHeader">
            <div><br>
            </div>
          </div>
        </div>
        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The rights associated with the Offered Shares will come into existence upon registration of the share capital increase with the commercial register of the Canton of Zurich.
          Voting rights and the rights related thereto associated with the Offered Shares may only be exercised after the relevant shareholder has been registered in CSG&#8217;s share register as a shareholder with voting rights (see &#8220;&#8212;<font style="font-style: italic;">Description of the Shares&#8212;Voting Rights</font>&#8221; and &#8220;&#8212;<font style="font-style: italic;">Description of the Shares</font>&#8212;<font style="font-style: italic;">Approval of the Board of Directors and Nominees</font>&#8221; below).</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Share Capital immediately after the Offering</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"><font style="color: #000000;">Immediately after registration of the Offered Shares in the commercial register of the Canton of Zurich, t</font>he share capital of CSG
          registered in the commercial register of the Canton of Zurich will be increased by CHF&#160;35,574,738.32, divided into 889,368,458&#160;Shares, and is expected to total CHF&#160;160,086,322.48, divided into 4,002,158,062&#160;Shares.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"><font style="color: #000000;">Upon</font> issuance, the <font style="color: #000000;">889,368,458&#160;</font>Offered Shares will, in the aggregate, represent 22.2% of the share
          capital of CSG <font style="color: #000000;">expected to be registered in the commercial register of the Canton of Zurich upon completion of the Offering</font>.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Participation Certificates and Profit Sharing Certificates</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">CSG has not issued any non-voting equity security, such as participation certificates (<font style="font-style: italic;">Partizipationsscheine) </font>or profit sharing
          certificates (<font style="font-style: italic;">Genussscheine</font>).</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Treasury Shares</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As of November&#160;21, 2022, CSG, together with its subsidiaries, held 40,597,297&#160;Shares in treasury (representing 1.53% of the issued Shares on November&#160;21, 2022). CSG, directly
          or indirectly, intends to exercise the Rights allotted to these Shares.</div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">DESCRIPTION OF THE SHARES</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Form and Transfer of Shares</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Shares are registered shares (<font style="font-style: italic;">Namenaktien</font>) with a nominal value of CHF&#160;0.04 each. The Shares are issued as uncertificated
          securities (<font style="font-style: italic;">einfache Wertrechte</font>)<font style="font-style: italic;">&#160;</font>and registered as intermediated securities (<font style="font-style: italic;">Bucheffekten</font>) in the main register (<font style="font-style: italic;">Hauptregister</font>) of SIX SIS AG (&#8220;<font style="font-weight: bold;">SIS</font>&#8221;). Shareholders have no rights to request the printing and delivery of certificates or the conversion of the Shares into another form.
          CSG may, however, at any time print and deliver certificates (individual share certificates, certificates or global certificates) or convert the Shares in another form and cancel issued certificates (if any). Shareholders registered in CSG&#8217;s
          share register may at any time request from CSG a confirmation of the Shares that they hold according to CSG&#8217;s share register.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Shares rank <font style="font-style: italic;">pari passu</font> in all respects with each other, including in respect of voting rights, entitlement to dividends, share
          of the liquidation proceeds in the case of a liquidation of CSG, and preemptive subscription rights (<font style="font-style: italic;">Bezugsrechte, Vorwegzeichnungsrechte</font>). CSG does not have any shares carrying preferential rights.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Pursuant to article&#160;4, para. 5 of the Articles, any transfer of the Shares, including the granting of securities on Shares, is subject to the FISA. The transfer of
          uncertificated Shares by way of an assignment is prohibited. In addition, security interest in any such uncertificated Shares cannot be granted by way of assignment.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Voting Rights</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In principle, each Share represents one vote at a shareholders&#8217; meeting, up to a maximum of 2% of the total outstanding share capital of CSG for a single shareholder. Voting
          rights and the rights related thereto may be exercised only after a shareholder has been registered in CSG&#8217;s share register as a shareholder with voting rights up to a specific qualifying day designated each time by the Board. In specific cases,
          such registration needs the approval of the Board (see &#8220;&#8212;<font style="font-style: italic;">Approval of the Board of Directors and Nominees</font>&#8221; below). Failing such registration, a shareholder may not vote at or participate in a shareholders&#8217;
          meeting but will still be entitled to receive dividends and other rights with financial value such as preemptive subscription rights.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Ordinary Capital Increase, Conditional and Authorized Capital</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Under Swiss law, the share capital (<font style="font-style: italic;">Aktienkapital</font>) of a company may be increased ordinarily in consideration of contributions in cash
          by a resolution passed at a shareholders&#8217; meeting by an absolute majority of the votes represented or by a higher quorum if so provided by the articles of incorporation. In the case of CSG, the Articles</div>
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        <div style="text-align: justify; margin-bottom: 10pt;">do not provide for a higher quorum. An increase in share capital in consideration of contributions in kind, involving the exclusion of the preemptive subscription rights of the shareholders, or
          the transformation of reserves into share capital, requires a resolution passed by a majority of two-thirds of the shares represented (in person or by proxy) at a shareholders&#8217; meeting and the absolute majority of the nominal value of the shares
          represented (in person or by proxy) at the passing of the resolution. Further, under the Swiss Code of Obligations, the shareholders of a company may empower its board of directors by passing a resolution in the manner described in the preceding
          sentence, to issue shares in a specific aggregate nominal amount up to 50% of the share capital, in the form of:</div>
        <div>
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                  <div style="text-align: left; margin-left: 18pt;">(a)</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">conditional capital (<font style="font-style: italic;">bedingtes Kapital</font>) for the purpose of issuing shares to, among other things, (i)&#160;grant conversion rights or warrants to holders of convertible
                    bonds or (ii)&#160;grant rights to employees of a company or affiliated companies to subscribe for new shares; and</div>
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        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4e7e40105dac4497bb59c11a08459e34">

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                  <div style="text-align: left; margin-left: 18pt;">(b)</div>
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                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">authorized capital (<font style="font-style: italic;">genehmigtes Kapital</font>) to be utilized at the discretion of the board of directors (or for the purposes determined in such resolution) within a
                    period not exceeding two years from approval by the shareholders.</div>
                </td>
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          </table>
        </div>
        <div style="text-align: justify;"> <br>
        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;"> Under the Swiss Federal Act on Banks and Savings Banks of November 8, 1934, as amended (the &#8220;<font style="font-weight: bold;">Swiss Banking Act</font>&#8221;), the shareholders of
          a Swiss top holding company of a financial group, such as CSG, may provide in its articles of association that:</div>
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                  <div style="text-align: left; margin-left: 18pt;">(a)</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">the board of directors may, by passing a resolution, increase the share capital out of the reserve capital (<font style="font-style: italic;">Vorratskapital</font>) solely to reinforce the equity base for
                    purposes of preventing or coping with a crisis; and</div>
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        <div>
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                  <div style="text-align: left; margin-left: 18pt;">(b)</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify;">an increase of the share capital will be carried out with the conversion of contingent convertible bonds upon the occurrence of a trigger event occurs (contingent capital).</div>
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          </table>
        </div>
        <div style="text-align: justify; margin-bottom: 10pt;"> <br>
        </div>
        <div style="text-align: justify; margin-bottom: 10pt;">The introduction of, or changes in, reserve capital requires a resolution passed by a majority of two-thirds of the shares represented (in person or by proxy) at a shareholders&#8217; meeting and the
          absolute majority of the nominal value of the shares represented (in person or by proxy) at the passing of the resolution. The introduction of, or changes in, conversion capital (<font style="font-style: italic;">Wandlungskapital</font>) requires
          a resolution passed by the absolute majority of the nominal value of the shares represented (in person or by proxy) at the passing of the resolution.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Approval of the Board of Directors and Nominees</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Only persons registered as shareholders or beneficial owners of Shares in CSG&#8217;s share register with voting rights will be recognized as such by CSG. Acquirers of Shares will
          be registered as shareholders with the right to vote, provided that they expressly declare that they acquired the Shares in their own name and for their own account and confirm to CSG that any applicable disclosure requirements under the FMIA
          have been fulfilled. Failing such registration, a shareholder may not vote at or participate in a shareholders&#8217; meeting but will still be entitled to receive dividends and other rights with financial value such as preemptive subscription rights.
          Article&#160;4, para.&#160;3 of the Articles provides that a person or legal entity not explicitly stating to act for its own account (&#8220;<font style="font-weight: bold;">Nominee</font>&#8221;) may be entered as a shareholder in CSG&#8217;s share register with voting
          rights for Shares up to a maximum of 2% of the total outstanding share capital. The Board may allow a Nominee to exceed this limit if such Nominee discloses the name, address and shareholding of any person or legal entity for whose account it is
          holding more than 0.5% of the outstanding share capital of CSG and confirms to CSG that any applicable disclosure requirements under the FMIA have been fulfilled. Notwithstanding the foregoing, shareholders can be represented by proxy at
          shareholders&#8217; meetings by the independent proxy (see &#8220;&#8212;<font style="font-style: italic;">Compensation Ordinance</font>&#8221; below).</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">For the purpose of the limits set out above, corporate bodies and partnerships or other groups of persons or joint owners who are interrelated to one another through capital
          ownership, voting rights, uniform management or otherwise linked as well as individuals or corporate bodies and partnerships who act in concert to circumvent the regulations concerning the Nominees (especially as syndicates), are treated as one
          single Nominee.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Board specifies the details and gives the necessary orders concerning the adherence to the preceding regulations. In particular cases it may allow exemptions from the
          regulation concerning Nominees.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Shareholders&#8217; Meetings</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Under Swiss law, the AGM must be held within six months after the end of a company&#8217;s preceding financial year. In the case of CSG, this means on or before June&#160;30.</div>
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            <div><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">69</font></div>
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        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In shareholders&#8217; meetings, except as noted below, each shareholder has equal rights, including equal voting rights in respect of Shares for which such shareholder is
          registered as a shareholder with voting rights in CSG&#8217;s share register. According to the Articles, each such Share is entitled to one vote (as to restrictions on voting rights, see &#8220;&#8212;<font style="font-style: italic;">Form and Transfer of Shares</font>&#8221;
          and &#8220;&#8212;<font style="font-style: italic;">Voting Rights</font>&#8221; above).</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Shareholders&#8217; meetings may be convened by the Board or, if necessary, by CSG&#8217;s statutory auditors. EGMs can be called as often as necessary, in particular in all cases
          required by law. The Board is further required to convene an EGM if so resolved by a shareholders&#8217; meeting or if so requested by holders of Shares holding in aggregate at least 10% of the nominal share capital of CSG. Shareholders holding Shares
          with a nominal value of at least CHF&#160;40,000 have the right to request that a specific item appear on the agenda of the next shareholders&#8217; meeting. According to the Articles, such requests must be made in writing to CSG no later than 45&#160;days prior
          to the shareholders&#8217; meeting.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">A shareholders&#8217; meeting must be convened at least 20&#160;days prior to such meeting by publishing a notice of such meeting in the Swiss Official Gazette of Commerce (<font style="font-style: italic;">Schweizerisches Handelsamtsblatt</font>).</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The shareholders&#8217; meeting is chaired by the Chairman, in their absence by the Vice-Chairman, or another member of the Board designated by the Board. The chairman of the
          meeting has the casting vote in the case of a tied vote.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Resolutions and elections generally require the approval of an absolute majority of the votes represented at the meeting, except as otherwise provided by mandatory provisions
          of law or by the Articles. Shareholders&#8217; resolutions that require a vote by an absolute majority of the votes represented include (i)&#160;amendments to the Articles, unless a supermajority is required, (ii)&#160;election of members of the Board, the
          Chairman, the members of the Compensation Committee, the independent proxy and statutory auditors, (iii)&#160;approval of the compensation of the members of the Board and the Executive Board, (iv)&#160;approval of the annual report and the statutory (i.e.,
          parent company) and consolidated accounts, (v)&#160;discharging of the acts of the members of the Board and Executive Board, and (vi)&#160;determination of the appropriation of retained earnings.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">An approval by a majority of at least two-thirds of the votes represented and the absolute majority of the nominal value of the shares represented is, among other things,
          required for resolutions on (i)&#160;change in the purpose of CSG, (ii)&#160;creation of shares with increased voting powers, (iii)&#160;implementation of transfer restrictions on shares, (iv)&#160;increase in conditional and authorized capital or the creation of
          reserve capital in accordance with article&#160;12 of the Swiss Banking Act, (v)&#160;increase of capital by way of conversion of capital surplus, by contribution in kind or acquisition in kind and the granting of special privileges, (vi)&#160;restriction or
          suspension of pre-emptive subscription rights, and (vii)&#160;change of location of CSG&#8217;s principal office.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">An approval by at least three-quarters of the votes cast is required for resolutions on (i)&#160;the conversion of registered shares into bearer shares, (ii)&#160;the dissolution of
          CSG and (iii)&#160;amendments to the Articles relating to registration and voting rights of nominee holders. An approval of at least seven-eighths of the votes cast is required for amendments to certain provisions of the Articles relating to voting
          rights.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">A quorum of at least half of the total share capital is required for resolutions on (i)&#160;the conversion of registered shares into bearer shares, (ii)&#160;amendments to the
          Articles relating to registration and voting rights of nominee holders, (iii)&#160;amendments to provisions of the Articles relating to voting rights, and (iv)&#160;the dissolution of the company. With the exception of the foregoing resolutions, the
          Articles do not in principle require a quorum of shareholders to be present at a shareholders&#8217; meeting.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Shareholders of CSG can be represented by the independent proxy (<font style="font-style: italic;">unabh&#228;ngiger Stimmrechtsvertreter</font>) or any person who is so
          authorized by a written proxy. At shareholders&#8217; meetings, the chairman of the meeting may allow elections and ballots to be conducted by a show of hands, by written ballot or by electronic means. They have all the powers required to conduct the
          shareholders&#8217; meeting in an orderly fashion; in particular, they may at any time order to repeat a resolution or an election if they have doubts regarding the results of the vote.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Based on the Compensation Ordinance, special rules apply with respect to votes on compensation, see &#8220;&#8212;<font style="font-style: italic;">Compensation Ordinance</font>&#8221; below</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Only shareholders registered in CSG&#8217;s share register with the right to vote are entitled to participate at shareholders&#8217; meetings. See &#8220;&#8212;<font style="font-style: italic;">Form


            and Transfer of Shares</font>&#8221; above. The Board will inform the shareholders in the relevant invitation to the shareholders&#8217; meeting of the deadline by which the Shares and the shareholder must be registered in CSG&#8217;s share register in order to
          participate and vote at such shareholders&#8217; meeting, or to be</div>
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        <div style="text-align: justify; margin-bottom: 10pt;">represented by proxy at such shareholders&#8217; meeting by the independent proxy (see also &#8220;&#8212;<font style="font-style: italic;">Compensation Ordinance</font>&#8221; below).</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Shareholders&#8217; Inspection Rights</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">A shareholder may, upon application to CSG, inspect the minutes of the shareholders&#8217; meeting. In accordance with Swiss law, CSG makes its annual report, its compensation
          report and the auditor&#8217;s reports available for inspection by shareholders at its registered address at least 20 days prior to each AGM. Any shareholder may request a copy of these reports in advance of or after the AGM. In addition, at a
          shareholders&#8217; meeting, a shareholder may request information from the Board concerning the business and operations of CSG and may request information from the auditors concerning the performance and results of their examination of the financial
          statements. CSG may refuse to provide that information to a shareholder if, in its opinion, the disclosure of the requested information would reveal confidential business secrets or infringe other protected interests of CSG.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Shareholders&#8217; Right to Bring Derivative Actions</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Under the Swiss Code of Obligations, an individual shareholder may bring an action in the shareholder&#8217;s own name, for the benefit of CSG, against CSG&#8217;s directors, officers or
          liquidators, that seeks to allow CSG to recover any damages it has incurred due to intentional or negligent breach by such directors, officers or liquidators of their duties.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Allocation of Annual Net Profit</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Under Swiss law, dividends are paid if so resolved by a resolution of the shareholders&#8217; meeting. The Board may propose to the shareholders&#8217; meeting that a dividend be paid,
          but cannot itself set the dividend. CSG&#8217;s statutory auditors must confirm that any proposal by the Board to declare a dividend is in accordance with Swiss law and the Articles. Dividends may be paid by CSG if, based on its audited parent company
          financial statements prepared in accordance with the Swiss law, CSG has sufficient distributable profits from the previous financial years or sufficient free reserves to allow the distribution of a dividend. In addition, at least 5% of the annual
          net profit of CSG must be appropriated and booked as general legal reserves, unless these reserves amount to 20% or more of the nominal share capital of CSG. Any remaining net profit may be allocated by the shareholders represented at the
          shareholders&#8217; meeting.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">See also &#8220;<font style="font-style: italic;">Dividends and Other Distributions.</font>&#8221; Dividends are usually due and payable not earlier than three days after the
          shareholders&#8217; resolution relating to the allocation of profits has been passed. The statute of limitations in respect of dividend payments is five years (dividends not paid are allocated to a special reserve of CSG).</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Preemptive Subscription Rights</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Under Swiss law, existing shareholders have certain pre-emptive subscription rights (<font style="font-style: italic;">Bezugsrechte, Vorwegzeichnungsrechte</font>) to
          subscribe for new issues of shares, option bonds, convertible bonds or similar debt instruments with option or convertible rights in proportion to the nominal amount of shares held. A resolution adopted by a majority of at least two-thirds of the
          votes and the absolute majority of the share capital, in each case, represented at the shareholders&#8217; meeting, may limit or exclude pre-emptive subscription rights in certain limited circumstances.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Borrowing Powers</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Neither Swiss law nor the Articles generally restrict CSG&#8217;s power to borrow and raise funds. The decision to borrow funds is made by, or under the direction of, the Board and
          no shareholders&#8217; resolution is required in relation to any such borrowing.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Conflicts of Interest</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Swiss law does not contain any general provision in relation to the handling of conflicts of interests within a company&#8217;s organization. However, the Swiss Code of Obligations
          contains a provision that requires directors and members of the management of CSG to apply due care and generally to safeguard the interests of CSG in the performance of their respective duties (duty of care and of loyalty). This rule is
          generally understood to disqualify directors and members of the management from participating in decisions that directly affect them. CSG has set out certain principles on how to handle conflicts of interests in the Organizational Regulations.</div>
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        </div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Further, holders of signatory powers for CSG may in certain circumstances be unable to validly exercise such powers by reason of a conflict of interest. Pursuant to the Swiss
          Code of Obligations, if, in connection with the conclusion of a contract, CSG is represented by the person with whom it is concluding the contract, such contract must be in writing. This requirement does not apply to contracts relating to daily
          business matters if the value of CSG&#8217;s performance under the contract does not exceed CHF&#160;1,000.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In addition, Swiss law contains provisions under which the members of the Board and all persons engaged in the management may become liable to CSG, to each shareholder and to
          CSG&#8217;s creditors for damages caused by an intentional or negligent violation of their duties. Furthermore, Swiss law contains a provision under which payments made and other benefits granted to a shareholder or a member of the Board or any persons
          associated with them, other than at arm&#8217;s length terms, must be repaid to CSG if the recipient thereof was acting in bad faith.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Swiss law contains provisions under which CSG, as a listed company, is obliged to disclose the amount of remuneration paid and loans made to the present or past members of
          the Board and the Executive Board, as well as remuneration paid, and loans made, to persons closely related to the members of the Board or the Executive Board. Shares held by members of the Board and the Executive Board and persons closely
          related to such members must also be disclosed. See &#8220;<font style="font-style: italic;">Description of CSG&#8217;s Share Capital and the Shares</font>&#8212;<font style="font-style: italic;">Description of the Shares</font>&#8212;<font style="font-style: italic;">Compensation


            Ordinance</font>.&#8221;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The SIX Corporate Governance Directive also addresses conflict of interest issues. See &#8220;<font style="font-style: italic;">The SIX Swiss Exchange</font>.&#8221;</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Repurchase of Shares and Own Shares</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Swiss law limits the right of CSG to repurchase and hold Shares. CSG and its subsidiaries may repurchase Shares only if and to the extent that (i)&#160;CSG has freely
          distributable reserves in the amount of the purchase price, and (ii)&#160;the aggregate nominal value of all Shares held by CSG does not exceed 10% of CSG&#8217;s share capital (20% in specific circumstances). CSG must create a special reserve in its parent
          company financial statements in the amount of the purchase price of any repurchased Shares. In CSG&#8217;s consolidated financial statements, own Shares are recorded at cost and reported as treasury Shares, resulting in a reduction in total
          shareholders&#8217; equity.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Shares held by CSG or its subsidiaries are not entitled to vote at shareholders&#8217; meetings, but are entitled to the economic benefits, including dividends, applicable to
          Shares generally. In addition, repurchases of listed Shares are subject to certain restrictions; in particular, the restrictions promulgated by the Swiss Takeover Board (the regulatory board for takeover bids in Switzerland) under the FMIA and
          its implementing ordinances.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Group buys and sells Shares and derivatives on the Shares within its normal trading and market-making activities mainly through its Swiss broker-dealer operations. In the
          Swiss market, the Group buys and sells Shares and derivatives on Shares to facilitate customer orders, to provide liquidity as a market maker and to hedge derivative instruments. CSG may from time to time place orders for Shares to satisfy
          obligations under various employee and management incentive plans, and potentially for Shares to be used as consideration in acquisitions. In addition, CSG may purchase Shares with the intent of cancellation.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In 2021, the Group repurchased 2,151.4 million Shares and sold or re-issued 2,053.3 million Shares. Of these, 2,126.3 million Shares were purchased through open market
          transactions, predominantly for market-making purposes and facilitating customer orders and to meet the Group&#8217;s delivery obligations with respect to share-based compensation. As of December&#160;31, 2021, CSG, together with its subsidiaries, held
          81,063,211&#160;Shares in treasury (representing 3.06% of the issued Shares on December&#160;31, 2021). As of November&#160;21, 2022, CSG, together with its subsidiaries, held 40,597,297&#160;Shares in treasury (representing 1.53% of the issued Shares on
          November&#160;21, 2022). CSG, directly or indirectly, intends to exercise the Rights allotted to these Shares.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Duration and Liquidation</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Articles do not limit CSG&#8217;s duration. CSG may be dissolved at any time, by way of liquidation or in the case of a merger in accordance with the Swiss Merger Act, based on
          a shareholders&#8217; resolution, which must be passed by (i)&#160;in the case of dissolution by way of liquidation, a supermajority of at least three-quarters of the votes cast at the shareholders&#8217; meeting, and (ii)&#160;in all other cases, a supermajority of
          at least two-thirds of the votes, and an absolute majority of the par value of the shares, represented at the shareholders&#8217; meeting. As CSG is the Swiss parent of a financial group, FINMA is the only competent authority to open restructuring or
          liquidation (bankruptcy) proceedings with respect to CSG. In the event that CSG is to be dissolved without liquidation (for example, in a merger where CSG is not the surviving entity), special quorum rules apply by law. Under Swiss</div>
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        <div style="text-align: justify; margin-bottom: 10pt;">law, any surplus arising out of liquidation (after the satisfaction of all creditors) must be used first to repay the nominal share capital of CSG. Thereafter, any balance must be distributed
          to shareholders in proportion to the paid-up nominal value of Shares held.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Notification and Disclosure of Major Shareholders</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The FMIA requires that persons who directly, indirectly or in concert with third parties acquire or dispose of Shares or other purchase positions relating to Shares (&#8220;<font style="font-weight: bold;">Purchase Positions</font>&#8221;) or sale positions relating to Shares (&#8220;<font style="font-weight: bold;">Sale Positions</font>&#8221;), and thereby, directly, indirectly or in concert with other parties reach, exceed or fall
          below a threshold of 3%, 5%, 10%, 15%, 20%, 25%, 33&#8531;%, 50&#160;% or 66&#8532;% of CSG&#8217;s voting rights entered into the commercial register of the Canton of Zurich (whether exercisable or not) must notify CSG and the Disclosure Office of the SIX of such
          acquisition or disposal in writing within four trading days. Within two trading days of the receipt of such notification, CSG must publish such information through the Disclosure Office of the SIX&#8217;s online platform.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">For purposes of calculating whether a threshold has been reached or crossed, Shares and other Purchase Positions, on the one hand, and Sale Positions, on the other hand, may
          not be netted. The Shares and other Purchase Positions and the Sale Positions must be accounted for separately and may each trigger disclosure obligations if the respective positions reach, exceed or fall below one of the thresholds. In addition,
          actual Share ownership must be reported separately if it reaches, exceeds or falls below one of the thresholds.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Under Swiss company law, CSG must also disclose in its annual report the identity of shareholders and shareholder groups acting in concert who hold more than 5% of CSG&#8217;s
          voting rights. Such disclosure must be made once a year in the notes to CSG&#8217;s consolidated financial statements and parent company financial statements, in each case as published in CSG&#8217;s annual report.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">According to the Swiss Banking Act, all natural persons or legal entities must notify FINMA prior to directly or indirectly acquiring or selling a &#8220;qualified participation&#8221;
          (i.e., 10% or more capital or voting rights) in Credit Suisse AG. This duty to notify also exists whenever a direct or indirect qualified participation in Credit Suisse AG is increased or decreased and thus reaches, exceeds or falls below the
          threshold of 10%, 20%, 33% or 50% of Credit Suisse AG&#8217;s capital or voting rights. Credit Suisse AG itself is required to notify FINMA of any persons as soon as it has knowledge thereof, at least once a year (i.e., within 60&#160;days of its annual
          closing of the financial year; such a list must state the holder&#8217;s identity and the amount of each of these qualifying interests as at the closing of the books, as well as any changes in relation to the previous year). Because CSG is the parent
          company of Credit Suisse AG, natural persons or legal entities acquiring or selling a qualified participation in CSG are indirectly doing the same with respect to Credit Suisse AG and, consequently, must comply with the foregoing requirements.
          The foregoing also applies in the case of CSG&#8217;s indirect subsidiary Credit Suisse (Schweiz) AG and any other direct or indirect subsidiaries licensed as a Swiss bank.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Foreign Investment and Exchange Control Regulations in Switzerland</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Other than in connection with government sanctions imposed on certain persons from Belarus, Burundi, the Central African Republic, the Democratic People&#8217;s Republic of Korea
          (North Korea), the Democratic Republic of Congo, Guinea, Guinea-Bissau, the Islamic Republic of Iran, Lebanon, Libya, Myanmar (Burma), Nicaragua, the Republic of Iraq, the Republic of Mali, the Republic of South Sudan, Somalia, Sudan, Syria,
          Venezuela, Yemen and Zimbabwe, and, persons and organizations with connections to Osama bin Laden, the &#8220;Al&#8209;Qaeda&#8221; group or the Taliban, certain persons in connection with the assassination of Rafik Hariri, and certain measures in connection with
          the situation in the Ukraine, there are currently no government laws, decrees or regulations in Switzerland that restrict the export or import of capital, including, but not limited to, Swiss foreign exchange controls on the payment of dividends,
          interest or liquidation proceeds, if any, to non-resident holders of the Shares.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Mandatory Bid Rules</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Pursuant to the FMIA, any person that acquires shares of a Swiss company with at least one class of securities listed on a Swiss stock exchange or a non-Swiss company with a
          primary listing of at least one class of securities on a Swiss stock exchange, whether directly or indirectly or acting in concert with third parties, which shares, when taken together with any other shares of such company held by such person (or
          such third parties), exceed the threshold of 33&#8531;% of the voting rights (whether exercisable or not) of such company, must submit a takeover offer to acquire all other listed equity securities of such company. Pursuant to the practice of the Swiss
          Takeover Board, certain derivatives also need to be taken into account when calculating whether the 33&#8531;% threshold has been exceeded. A company&#8217;s articles of incorporation may either override this mandatory takeover offer provision</div>
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        <div style="text-align: justify; margin-bottom: 10pt;">of the FMIA or may raise the relevant threshold to 49% (&#8220;opting-out&#8221; or &#8220;opting-up,&#8221; respectively). The Articles do not contain an opting-out or opting-up provision. The mandatory takeover
          offer obligation may be waived by the Swiss Takeover Board or FINMA. However, if no waiver is granted, the mandatory takeover offer must be made pursuant to the procedural rules set forth in the FMIA and the implementing ordinances.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">There is no obligation to make a takeover offer under the FMIA and its implementing ordinances if the voting rights in question are acquired as a result of a gift, succession
          or partition of an estate, a transfer based upon matrimonial property law or execution proceedings. However, the Swiss Takeover Board must be notified of any such acquisition.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Cancellation of Remaining Equity Securities</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Under the FMIA, any offeror that has submitted a takeover offer for the shares of a listed Swiss company, and that, as a result of such offer, holds more than 98% of the
          voting rights of such company, may petition the court to cancel such company&#8217;s remaining equity securities. The petition must be filed against the target company within three months after the expiration of the offer period (additional acceptance
          period) of the relevant takeover offer. The remaining shareholders of the target company may join in the proceedings. If the court orders the cancellation of the remaining equity securities, the target company must reissue and deliver such equity
          securities to the offeror against payment by the offeror of the offer price for the benefit of the holders of the cancelled equity securities.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Squeeze&#8209;Out Merger</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Swiss Merger Act allows a squeeze&#8209;out of minority shareholders by way of a squeeze&#8209;out merger. If at least 90% of all shareholders of the transferring company consent,
          the transferring company may be merged into the surviving company and the minority shareholders of the transferring company may be compensated in cash or for other consideration (e.g., securities of another company) instead of receiving shares in
          the surviving company. While disputed in scholarly writing, the 90% consent requirement is predominantly thought to relate to 90% of the outstanding shares generally entitled to vote at a shareholders&#8217; meeting. However, no court precedents exist
          regarding the interpretation of the statutory 90% consent requirement.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-weight: bold;">Compensation Ordinance</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Set out below is a summary of some of the key provisions of the Compensation Ordinance. As of January&#160;1, 2023, the provisions of the Compensation Ordinance will, subject to
          certain modifications thereof, be incorporated in the Swiss Code of Obligations as part of the legislative reform described in the introductory paragraphs to this section, and, as of the same date, the Compensation Ordinance will no longer have
          any force or effect.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Severance Pay, Advance Payments and Transaction Bonuses</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Ordinance prohibits certain types of compensation arrangements with members of a Swiss public company&#8217;s board of directors, executive management and advisory
          board, including severance payments, forms of advance compensation, transaction bonuses and certain other types of compensation and benefits not expressly provided for by a company&#8217;s articles of association.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Ordinance broadly prohibits severance payments in any form. In addition, excessive termination notice periods in employment contracts (i.e., longer than one
          year) and long-term employment contracts for a fixed duration for more than one year are viewed as types of prohibited severance payments. However, post-employment non-compete covenants and consultancy agreements are not subject to the
          Compensation Ordinance&#8217;s severance pay prohibition, unless as a result of their terms they are deemed disguised severance payments.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Ordinance also restricts certain forms of advance compensation. The decisive element in distinguishing prohibited advance payments from certain types of
          other advance payments, such as sign-on bonuses, is the point in time at which such payment is made. Consequently, sign-on bonuses compensating benefits and other entitlements that executives forfeit from their previous employers may be
          permissible whereas genuine prepayments of salary (i.e., if the contractual salary is paid in advance) are generally not permitted.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Ordinance also prohibits transaction bonuses.</div>
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        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Shareholder Approval of Compensation for Board of Directors, Executive Management and Advisory Board</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Ordinance requires the shareholders&#8217; meeting of Swiss public companies to vote on the compensation of the board of directors, executive management and
          advisory board. Swiss public companies are required to specify in their articles of association the mechanism for say-on-pay votes, subject to certain minimum requirements. These minimum requirements provide that the say-on-pay vote must be
          (i)&#160;held annually, (ii)&#160;binding and (iii)&#160;separate for the members of the board of directors, the members of the executive management and the members of the advisory board (if any).</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Ordinance requires a company&#8217;s board of directors to prepare an annual written compensation report disclosing remuneration and loans directly or indirectly
          awarded by the company.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In accordance with the Compensation Ordinance, commencing with the AGM in 2015, CSG submits its Board and Executive Board compensation recommendations for binding votes by
          its shareholders.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Compensation Report</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Ordinance requires a company&#8217;s board of directors to prepare an annual written compensation report. In substance, the compensation report must include the
          information that the Swiss Code of Obligations already requires to be disclosed in the notes to a company&#8217;s annual financial statements. The disclosure relates to any direct or indirect compensation, loans and credits paid during the most
          recently ended financial year to members of the board of directors, executive management and advisory board and, to the extent not in line with market standards, to former members of the board of directors, executive management and advisory board
          and related parties of such current and former members of the board of directors, executive management and advisory board. The compensation report must also include the compensation and the loans and credits paid to members of the board of
          directors and the advisory board disclosed on an aggregate and individual basis, whereas compensation and the loans and credits paid to members of the executive management must only be disclosed on an aggregate basis, together with the name of
          the executive management member who received the highest compensation and the amount thereof.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In accordance with the Swiss Corporate Governance Code, CSG has submitted its compensation report for a consultative vote by its shareholders since the AGM in 2014. In line
          with current practice and, starting in 2024, applicable law, CSG will continue to submit the compensation report for a consultative vote by its shareholders.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Election of the Members of the Board of Directors, the Chairman of the Board of Directors, the Members of the Compensation Committee and
          the Independent Voting Rights Representative</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Ordinance requires that the members of the board of directors, its chairperson, the members of the compensation committee (who may only be selected among the
          members of the board of directors) and one or several independent proxies be elected by a company&#8217;s shareholders at the shareholders&#8217; meeting on an individual basis for a term ending at the next AGM. Re-election in all instances is permitted.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Independent Proxy</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Compensation Ordinance prohibits the representation of shareholders by corporate proxies (i.e., officers or other company representatives) as well as by share depository
          proxies. The Compensation Ordinance further provides that the board of directors must make sure that the shareholders are able to electronically grant proxies and instruct the independent proxy (<font style="font-style: italic;">unabh&#228;ngiger
            Stimmrechtsvertreter</font>) on both (i)&#160;agenda items included in the invitation to the shareholders&#8217; meeting and (ii)&#160;new motions that were not disclosed in the invitation to the shareholders&#8217; meeting. The independent proxy is required to
          exercise the voting rights granted by shareholders only in accordance with shareholder instructions. Further, absent express voting instructions, the independent proxy is required to abstain from voting.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">At the AGM on <font style="color: #000000;">April&#160;29, 2022</font>, the shareholders of CSG re-elected Law Office Keller Partnership, Zurich, as the independent proxy for the
          term ending at the completion of the AGM in 2023.</div>
        <div style="text-align: justify; margin-bottom: 10pt; color: #000000; font-style: italic; font-weight: bold;">Criminal Provisions</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The criminal provisions of the Compensation Ordinance punish intentional non&#8209;compliance by members of the board of directors, executive management and advisory board who
          acted &#8220;against their better knowledge&#8221; (<font style="font-style: italic;">wider besseres Wissen</font>) in paying out or receiving impermissible forms of compensation. The Compensation Ordinance also stipulates criminal liability for certain
          prohibited actions by a Swiss public company&#8217;s board of</div>
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        <div style="text-align: justify; margin-bottom: 10pt;">directors. Intentional violations of the Compensation Ordinance can result in imprisonment of up to three years and a fine of up to six times the individual offender&#8217;s annual salary.</div>
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        <div style="margin-bottom: 10pt; font-weight: bold;">THE SIX SWISS EXCHANGE<a name="THESIXSWISSEXCHANGE"><!--Anchor--></a></div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt; font-style: italic;">For purposes of this section &#8220;The SIX Swiss Exchange,&#8221; references to &#8220;the SIX&#8221; refer to the SIX Swiss Exchange on which securities are listed and traded
          or to SIX Swiss Exchange AG, as the context may require.</div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">GENERAL INFORMATION</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As the Shares are listed under the International Reporting Standard, CSG is subject to the <font style="color: #000000;">listing rules published by SIX Exchange Regulation
            AG </font>(the &#8220;<font style="font-weight: bold;">Listing Rules</font>&#8221;) and any applicable additional regulations enacted by SIX Exchange Regulation AG.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">SIX Swiss Exchange AG (formerly SWX Swiss Exchange AG) was founded in 1993 as the successor to the local stock exchanges in Zurich, Basel and Geneva. Full electronic trading
          in foreign equities and derivatives began in 1995. In 1996, the SIX introduced full electronic trading in Swiss equities, derivatives and bonds. In 2008, SWX Swiss Exchange AG changed its name to SIX Swiss Exchange AG. SIX Swiss Exchange AG is a
          wholly-owned subsidiary of SIX Group AG. SIX Group AG is the holding company for the SIX group entities and is owned by 121 domestic and international financial institutions, which are also the main users of its services.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">A listing of securities under the International Reporting Standard requires, among other things, that (i)&#160;the articles of association of the issuer comply with applicable
          law, (ii)&#160;the operating and financial track record of the issuer extends over a period of at least three years, (iii)&#160;the issuer&#8217;s consolidated equity capital amounts to at least CHF&#160;25&#160;million, (iv)&#160;at the time of the listing, at least 20% of
          the issuer&#8217;s outstanding securities in the same category are in public ownership and the capitalization of those securities in public ownership amounts to a minimum of CHF&#160;25 million, (v)&#160;the issuer reports according to accounting principles
          generally accepted in the United States of America or International Financial Reporting Standards (IFRS) and (vi)&#160;the securities have been validly issued at the time of listing.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">As of November&#160;23, 2022, 260 issuers (of shares) were listed on the SIX (source:
          https://www.six-group.com/en/products-services/the-swiss-stock-exchange/market-data/shares/companies.html).</div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">GENERAL RULES ON SECURITIES TRADING</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Trading on the SIX occurs through a fully integrated trading system covering the entire process from trade order through settlement. Trading in equity securities begins each
          business day at 9:00&#160;a.m. Central European Time (&#8220;<font style="font-weight: bold;">CET</font>&#8221;) or Central European Summer Time (&#8220;<font style="font-weight: bold;">CEST</font>&#8221;), as applicable, and continues until 5:20&#160;p.m. CET or CEST (as
          applicable), at which time the closing auction starts, and continues until trading closes at 5:30&#160;p.m. CET or CEST (as applicable), with a random close of trading within two minutes. Following the closing auction, &#8220;Trading-At-Last&#8221; (&#8220;<font style="font-weight: bold;">TAL</font>&#8221;) provides investors with on book trading at the official closing price until 5:40&#160;p.m. CET or CEST (as applicable). After the close of exchange trading, new orders can be entered or deleted until
          10:00&#160;p.m. CET or CEST (as applicable). From 6:00&#160;a.m. CET or CEST (as applicable) new entries and inquiries can be made until 9:00&#160;a.m. CET or CEST (as applicable). The system is not available between 10:00&#160;p.m. and 6:00&#160;a.m. CET or CEST (as
          applicable). For the opening phase (starting at 9:00&#160;a.m. CET or CEST (as applicable)), the system closes the order book and starts opening procedures, establishes the opening prices and determines orders to be executed according to the matching
          rules. Closing auctions are held to determine the daily closing price for all equity securities traded on the SIX. At the start of the closing auction, the status of all equity order books changes from permanent trading to auction. The auction
          itself consists of a pre-opening period and the actual auction according to rules that are similar to the opening procedure.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Transactions take place through the automatic matching of orders. Each valid order of at least a round lot is entered and listed according to the price limit. A round lot of
          the shares is expected to consist of one share. In general, market orders (orders placed at a best price) are executed first, followed by limit orders (orders placed at a price limit), provided that if several orders are listed at the same price,
          they are executed according to the time of entry. The SIX may provide for a duty to trade on the SIX in individual market segments. There is no duty to trade on the SIX for equity securities traded in the Blue Chip Shares segment or the
          Mid-/Small-Cap Shares segment. Members of the SIX must observe the principle of best execution for any off-exchange transaction during the trading period. Transactions in shares effected by or through members of the SIX are subject to a stock
          exchange levy. This levy includes the reporting fee and is payable per trade and participant. The fee is defined individually for each trading segment.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Banks and broker-dealers doing business in Switzerland are required to report all transactions in listed securities traded on the SIX. For transactions effected via the
          exchange system, reporting occurs automatically.</div>
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        <div style="margin-bottom: 10pt;"><br>
        </div>
        <div style="text-align: justify; margin-bottom: 10pt;">Off-order book transactions during trading hours must be reported to the SIX within one minute. Transaction information is collected, processed and immediately distributed by the SIX.
          Transactions outside trading hours must be reported no later than the next opening. The SIX distributes a comprehensive range of information through various publications, including in particular the Swiss Market Feed. The Swiss Market Feed
          supplies SIX data in real time to all subscribers as well as to other information providers such as SIX Financial Information AG and Reuters.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">A quotation may be suspended by the SIX if large price fluctuations are observed, or if important, price-sensitive information is about to be disclosed, or in other
          situations that might endanger fair and orderly trading. Surveillance and monitoring are the responsibility of the SIX as the organizer of the market. The aim of such self-regulation is to ensure transparency, fair trading and an orderly market.</div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">CLEARING, PAYMENT AND SETTLEMENT</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Clearing and settlement of securities listed on the SIX is made through SIS. Stock exchange transactions in securities listed or authorized for trading on the SIX are as a
          general rule settled on a T+2 basis, which means that delivery against payment occurs two trading days after the trade date. However, in the case of rights traded on the SIX, commencing with the second day of trading for such rights, stock
          exchange transactions are settled on a T+1 basis, which means that delivery against payment occurs one trading day after the trade date.</div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">DIRECTIVE ON INFORMATION RELATING TO CORPORATE GOVERNANCE AND THE SWISS CODE OF BEST PRACTICE FOR CORPORATE GOVERNANCE</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In Switzerland, two sets of rules are relevant with respect to corporate governance: the SIX Corporate Governance Directive, and the Swiss Corporate Governance Code.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The SIX Corporate Governance Directive applies to all Swiss companies whose equity securities have their primary or main listing on SIX. The SIX Corporate Governance
          Directive requires each such company to disclose important information on the management and control mechanisms at the highest corporate level or to give specific reasons why this information is not disclosed.</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The Swiss Corporate Governance Code is issued by economiesuisse, the largest umbrella organization representing Swiss businesses. The Swiss Corporate Governance Code is
          non-binding; it provides recommendations for good corporate standards in line with international business practices on a comply-or-explain basis. See also &#8220;<font style="font-style: italic;">Certain Corporate Governance Items</font>.&#8221;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">In addition to the requirements set out in the SIX Corporate Governance Directive and the Swiss Corporate Governance Code, CSG is required to comply with certain requirements
          relating to corporate governance that are set out in the Compensation Ordinance. For more information, see &#8220;<font style="font-style: italic;">Description of CSG&#8217;s Share Capital and the Shares&#8212;Description of the Shares&#8212;Compensation Ordinance</font>.&#8221;</div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">DIRECTIVE ON THE DISCLOSURE OF MANAGEMENT TRANSACTIONS</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">The SIX Directive on the Disclosure of Management Transactions dated March&#160;20, 2018 (the &#8220;<font style="font-weight: bold;">DMT</font>&#8221;), applies to issuers whose equity
          securities have their primary listing on the SIX. The DMT requires each such issuer to ensure that members of its board of directors and senior management disclose transactions they have made in the securities of such issuer. Under the DMT, the
          relevant board or senior management member must disclose any such transaction to the issuer, and the issuer must forward such information to SIX Exchange Regulation AG. Such transactions are subsequently published on a &#8220;no name basis&#8221; on the
          website of SIX Exchange Regulation AG.</div>
        <div style="text-align: left; margin-bottom: 10pt; font-weight: bold;">AD-HOC PUBLICITY</div>
        <div style="text-align: justify; text-indent: 18pt; margin-bottom: 10pt;">Under the Listing Rules, CSG is required to publish facts that are, with respect to the price of the Shares or other securities issued by CSG and listed on the SIX,
          price-sensitive and that have arisen in the sphere of CSG&#8217;s business activities. Facts that are not known publicly and that, from an ex-ante perspective, are capable of leading to a significant price change are classified as price-sensitive.
          Annual and interim reports are always classified as price-sensitive. Price-sensitive facts may further include, but are not limited to, financial figures and reports, changes in key employee positions including changes affecting the composition
          of the Board or the Executive Board, mergers, takeovers, spin-offs, restructuring operations, changes in capital, takeover bids, changes in business operations (e.g., new sales partners, new and significant products, withdrawal or recall of a
          significant product, etc.), information on trading results (e.g., significant changes in earnings such as profit decrease/increase</div>
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        <div style="text-align: justify; margin-bottom: 10pt;">or profit warning, cessation of dividends, etc.), changes to the shareholder structure and financial restructuring. As a rule, CSG is required to disclose any price-sensitive fact immediately
          as soon as it has become aware of its material elements. Disclosure must be made to SIX Exchange Regulation AG (90 minutes ahead of time if published during trading hours), to at least two electronic information systems widely used by
          professional market participants (such as Bloomberg, Reuters or SIX Financial Information AG), to at least two Swiss media (printed or electronic) of nationwide distribution and, upon request, to all interested parties. In addition, CSG must
          provide a service on its website that allows interested parties to receive, via e-mail distribution, free and timely notification of ad hoc announcements (push system).</div>
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            <div><u> <br>
              </u></div>
            <div><u>SIGNATURES</u></div>
            <div>
              <div style="display: block; text-indent: 0pt;">&#160;</div>
              <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their
                behalf by the undersigned, thereunto duly authorized.</div>
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                      <td valign="top" align="left" style="WIDTH: 44%">&#160;</td>
                      <td valign="top" align="left" style="WIDTH: 3%">&#160;</td>
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                        <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">CREDIT SUISSE GROUP AG and CREDIT SUISSE AG</div>
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                      <td valign="top" align="left" style="WIDTH: 44%">&#160;</td>
                      <td valign="top" align="left" style="WIDTH: 3%">&#160;</td>
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                        <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(Registrants)</div>
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                        <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">By:</div>
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                      <td valign="top" align="left" style="WIDTH: 53%">
                        <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"><font style="DISPLAY: inline">/s/ Reto H&#246;sli</font></div>
                      </td>
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                      <td valign="top" align="left" style="WIDTH: 3%">&#160;</td>
                      <td valign="top" align="left" style="WIDTH: 53%">
                        <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Reto H&#246;sli<br>
                        </div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" style="WIDTH: 44%">&#160;</td>
                      <td valign="top" style="WIDTH: 3%">&#160;</td>
                      <td valign="top" align="left" style="WIDTH: 53%">
                        <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Director</div>
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                      </td>
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                      <td valign="top" align="left" style="WIDTH: 53%">&#160;</td>
                    </tr>
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                      <td valign="top" style="WIDTH: 3%">&#160;</td>
                      <td valign="top" align="left" style="WIDTH: 53%">&#160;</td>
                    </tr>
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                      <td valign="top" style="WIDTH: 3%">&#160;</td>
                      <td valign="top" align="left" style="width: 53%;">/s/ Annina M&#252;ller</td>
                    </tr>
                    <tr>
                      <td valign="top" align="left" style="WIDTH: 44%">&#160;</td>
                      <td valign="top" style="WIDTH: 3%">&#160;</td>
                      <td valign="top" align="left" style="width: 53%;">Annina M&#252;ller</td>
                    </tr>
                    <tr>
                      <td valign="top" align="left" style="WIDTH: 44%">Date: November 25, 2022</td>
                      <td valign="top" style="WIDTH: 3%">&#160;</td>
                      <td valign="top" align="left" style="width: 53%;">Vice President</td>
                    </tr>

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