<SEC-DOCUMENT>0001370368-22-000108.txt : 20221209
<SEC-HEADER>0001370368-22-000108.hdr.sgml : 20221209
<ACCEPTANCE-DATETIME>20221208182207
ACCESSION NUMBER:		0001370368-22-000108
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20221209
FILED AS OF DATE:		20221209
DATE AS OF CHANGE:		20221208

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:		221453410

	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:		221453411

	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>
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<TYPE>6-K
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<FILENAME>a20221208-6k_2.htm
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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;">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>
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  <div style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="display: inline;">December 8, 2022</font><br>
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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: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Commission File Number 001-15244</div>
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  <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>
  <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>
  <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>
  <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 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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          <td valign="top" style="WIDTH: 40%">
            <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>
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  <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 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 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 style="text-align: left; margin-top: 3pt; margin-bottom: 3pt; color: #000000;"> <br>
        <br>
        <br>
      </div>
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      <div>
        <div style="text-align: left; margin-bottom: 6pt; color: #000000;">December 8, 2022</div>
        <div style="text-align: center; margin-bottom: 6pt; color: #000000;">Credit Suisse Group AG</div>
        <div style="text-align: center; margin-bottom: 15pt; color: #000000;">(incorporated with limited liability in Switzerland)</div>
        <div style="text-align: center; color: #000000; 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: left; text-indent: 72pt; margin-bottom: 12pt; color: #000000;">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;Securities Act&#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="border-bottom: 0.75pt solid black;">
          <div style="text-align: left; text-indent: 72pt; margin-bottom: 12pt; color: #000000;">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;FinSA&#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>
          <div><br>
          </div>
        </div>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>
        <div style="text-align: left; margin-left: 27pt;">Since October 27, 2022, Credit Suisse has continued to progress on its strategic actions. In addition to the successful completion of its capital raise, which is expected to strengthen Credit Suisse
          Group AG&#8217;s CET1 ratio by approximately 140 basis points, the bank continues to make progress in relation to the definitive transaction agreements to sell a significant part of the Securitized Products Group and other related financing businesses
          to entities and funds managed by affiliates of Apollo Capital Management. The deal is expected to close in the first half of 2023 and is expected to further bolster Credit Suisse Group AG&#8217;s CET1 capital ratio.</div>
        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt;">As announced on December 5, 2022, Credit Suisse Group AG has also completed HoldCo and AT1 issuances for 2022 including approximately USD equivalent of 5 billion of HoldCo debt issued since the
          Strategy Update on October 27, 2022. Together with the capital raise, progress on our Securitized Products transaction and other measures have further strengthened Credit Suisse Group AG&#8217;s spot liquidity coverage ratio (LCR), with the average
          daily LCR for the fourth quarter-to-date, as of December 7, 2022, above 140%.</div>
        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt;">The bank&#8217;s cost transformation remains well under way. The cost actions already initiated by Credit Suisse as of December 8, 2022, are expected to represent ~80% of the 2023 cost base reduction
          target of approximately CHF 1.2 billion.</div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt; color: #000000; font-weight: bold;">Important Information</div>
        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt; color: #000000;">Our cost base target is measured using adjusted operating expenses at constant FX rates and on constant perimeter, before impact of Securitized Products &amp; other divestments.</div>
        <div><br>
        </div>
        <div style="margin: 0px 0px 0px 27pt; color: #000000; text-align: left;">We may not achieve all of the expected benefits of our strategic initiatives, such as in relation to intended reshaping of the bank, cost reductions and strengthening and
          reallocating capital. Factors beyond our control, including but not limited to the market and economic conditions (including macroeconomic and other challenges and uncertainties, for example, resulting from Russia&#8217;s invasion of Ukraine), customer
          reaction to our proposed initiatives, enhanced risks to our businesses during the contemplated transitions, changes in laws, rules or regulations and other challenges discussed in our public filings, could limit our ability to achieve some or all
          of the expected</div>
        <div style="margin: 0px 0px 0px 27pt; color: #000000; text-align: left;"> <br>
        </div>
        <div style="margin: 0px 0px 0px 27pt; color: #000000; text-align: left;"> <br>
        </div>
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          <div class="BRPFPageBreak" style="page-break-after: always;">
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        <div style="margin: 0px 0px 0px 27pt; color: #000000; text-align: left;"> <br>
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      <div>
        <div style="text-align: left; margin-left: 27pt; color: #000000;">benefits of these initiatives. Our ability to implement our strategy objectives could also be impacted by timing risks, obtaining all required approvals and other factors.</div>
        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt; color: #000000;">In particular, the terms &#8220;Estimate&#8221;, &#8220;Illustrative&#8221;, &#8220;Ambition&#8221;, &#8220;Objective&#8221;, &#8220;Outlook&#8221;, &#8220;Goal&#8221;, &#8220;Commitment&#8221; and &#8220;Aspiration&#8221; are not intended to be viewed as targets or
          projections, nor are they considered to be Key Performance Indicators. All such estimates, illustrations, ambitions, objectives, outlooks, goals, commitments and aspirations, as well as any other forward-looking statements described as targets or
          projections, are subject to a large number of inherent risks, assumptions and uncertainties, many of which are completely outside of our control. These risks, assumptions and uncertainties include, but are not limited to, general market
          conditions, market volatility, increased inflation, interest rate volatility and levels, global and regional economic conditions, challenges and uncertainties resulting from Russia&#8217;s invasion of Ukraine, political uncertainty, changes in tax
          policies, scientific or technological developments, evolving sustainability strategies, changes in the nature or scope of our operations, including as a result of our recently announced strategy initiatives changes in carbon markets, regulatory
          changes, changes in levels of client activity as a result of any of the foregoing and other factors. Accordingly, these statements, which speak only as of the date made, are not guarantees of future performance and should not be relied on for any
          purpose. We do not intend to update these estimates, illustrations, ambitions, objectives, outlooks, goals, commitments, aspirations, targets, projections or any other forward-looking statements. For these reasons, we caution you not to place
          undue reliance upon any forward-looking statements.</div>
        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt; color: #181716;">Our estimates, ambitions, objectives, aspirations and targets often include metrics that are non-GAAP financial measures and are unaudited. A reconciliation of the estimates,
          ambitions, objectives, aspirations and targets to the nearest GAAP measures is unavailable without unreasonable efforts. Results excluding certain items included in our reported results do not include items such as goodwill impairment, major
          litigation provisions, real estate gains, impacts from foreign exchange and other revenue and expense items included in our reported results, all of which are unavailable on a prospective basis. Such estimates, ambitions, objectives, aspirations
          and targets are calculated in a manner that is consistent with the accounting policies applied by us in preparing our financial statements.</div>
        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt; color: #000000;">Credit Suisse Group AG is subject to the Basel framework, as implemented in Switzerland, as well as Swiss legislation and regulations for systemically important banks, which include
          capital, liquidity, leverage and large exposure requirements and rules for emergency plans designed to maintain systemically relevant functions in the event of threatened insolvency. Credit Suisse Group AG has adopted the Bank for International
          Settlements (BIS) leverage ratio framework, as issued by the Basel Committee on Banking Supervision (BCBS) and implemented in Switzerland by the Swiss Financial Market Supervisory Authority FINMA.</div>
        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt; color: #000000;">Unless otherwise noted, all CET1 ratio, CET1 leverage ratio, Tier-1 leverage ratio, risk-weighted assets and leverage exposure figures in this document are as of the end of the
          respective period.</div>
        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt; color: #000000;">Unless otherwise noted, leverage exposure is based on the BIS leverage ratio framework and consists of period-end balance sheet assets and prescribed regulatory adjustments. The tier
          1 leverage ratio and CET1 leverage ratio are calculated as BIS tier 1 capital and CET1 capital, respectively, divided by period-end leverage exposure.</div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt; color: #000000; font-weight: bold;">Cautionary statement regarding forward-looking information</div>
        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt; color: #000000;">This document contains statements that constitute forward-looking statements. In addition, in the future we, and others on our behalf, may make statements that constitute
          forward-looking statements. Such forward-looking statements may include, without limitation, statements relating to the following:</div>
        <div><br>
        </div>
        <div>
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                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
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                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">our plans, targets or goals;</div>
                </td>
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          </table>
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        <div>
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                  <div style="color: #000000;">our future economic performance or prospects;</div>
                </td>
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          </table>
        </div>
        <div>
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                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">the potential effect on our future performance of certain contingencies; and</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">assumptions underlying any such statements.</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt; color: #000000;">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.</div>
        <div style="text-align: left; margin-left: 27pt; margin-top: 5.65pt; color: #000000;">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>
        <div><br>
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                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">the ability to maintain sufficient liquidity and access capital markets;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">market volatility, increases in inflation and interest rate fluctuations or developments affecting interest rate levels;</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="z896511aa87d84889957dd5123e1378f1">

              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">the ongoing significant negative consequences, including reputational harm, of the Archegos and supply chain finance funds matters, as well as other recent events, and our ability to successfully resolve these
                    matters;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">the impact of social media speculation and unsubstantiated media reports about our business and its performance;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">the extent of outflows of assets or future net new asset generation across our divisions;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">our ability to improve our risk management procedures and policies and hedging strategies;</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>
        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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 US, EU, UK, Switzerland and other countries and the risk of continued slow economic recovery or downturn in the EU, the US or
                    other developed countries or in emerging markets in 2022 and beyond;</div>
                </td>
              </tr>

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        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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>
                </td>
              </tr>

          </table>
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        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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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              </tr>

          </table>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">the direct and indirect impacts of deterioration or slow recovery in residential and commercial real estate markets;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">adverse rating actions by credit rating agencies in respect of us, sovereign issuers, structured credit products or other credit-related exposures;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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>
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        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">our ability to achieve our announced comprehensive new strategic direction for the Group and significant changes to its structure and&#160; organization;</div>
                </td>
              </tr>

          </table>
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        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">our ability to successfully implement the divestment of any non-core business;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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&#8217;;</div>
                </td>
              </tr>

          </table>
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        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">the effects of, and changes in, fiscal, monetary, exchange rate, trade and tax policies;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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="z0a92041dfb4e4dfa91e038cce85904e6">

              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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="z4435b388dade4806927421e7faf09db6">

              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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="z0a6ce0f149e64086902cd24c051e639e">

              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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="z1e34f67cbc4c4a98868ddaec786d1622">

              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">operational factors such as systems failure, human error, or the failure to implement procedures properly;</div>
                </td>
              </tr>

          </table>
        </div>
        <div>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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="z37f86c5443de46bdba97abc5fc3c8a04">

              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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="z9c6399a698c44c30a5d1475253200d41">

              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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>
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              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">the discontinuation of LIBOR and other interbank offered rates 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="ze3e9c322dea74fdfa56f87a31a474555">

              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">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="z17e991324fd64ed4bf6323d7a81445b3">

              <tr>
                <td style="width: 27pt; vertical-align: top; text-align: right;">
                  <div style="text-align: left; margin-left: 16.1pt; color: #000000;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000;">competition or changes in our competitive position in geographic and business areas in which we conduct our operations;</div>
                </td>
              </tr>

          </table>
        </div>
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                  <div style="color: #000000;">the ability to retain and recruit qualified personnel;</div>
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                  <div style="color: #000000;">the ability to protect our reputation and promote our brand;</div>
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                  <div style="color: #000000;">the ability to increase market share and control expenses;</div>
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                  <div style="color: #000000;">technological changes instituted by us, our counterparties or competitors;</div>
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                  <div style="color: #000000;">the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users;</div>
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                  <div style="color: #000000;">acquisitions, including the ability to integrate acquired businesses successfully, and divestitures, including the ability to sell non-core assets; and</div>
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                  <div style="color: #000000;">other unforeseen or unexpected events and our success at managing these and the risks involved in the foregoing.</div>
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        <div><br>
        </div>
        <div style="text-align: left; margin-left: 27pt; color: #000000;">We caution you that the foregoing list of important factors is not exclusive. When evaluating forward-looking statements, you should carefully consider the foregoing factors and
          other uncertainties and events, including the information set forth in &#8220;Risk factors&#8221; in <font style="font-style: italic;">I&#160;&#8211; Information on the company </font>in our Annual Report 2021 and in &#8220;Risk factor&#8221; in <font style="font-style: italic;">Credit Suisse results &#8211; Credit Suisse </font>in our 3Q22 Financial Report.</div>
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    <div style="TEXT-ALIGN: center">&#160;</div>
    <div style="TEXT-ALIGN: center"><u>SIGNATURES</u></div>
    <div style="TEXT-ALIGN: center">
      <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: 53%">
                <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;"><font style="DISPLAY: inline">/s/ Reto H&#246;sli</font></div>
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              <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;">Reto H&#246;sli<br>
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                <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Director</div>
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                <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"></div>
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              <td valign="top" style="WIDTH: 3%">&#160;</td>
              <td valign="top" align="left" style="WIDTH: 53%">&#160;</td>
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              <td valign="top" align="left" style="width: 53%;">/s/ Annina M&#252;ller</td>
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              <td valign="top" align="left" style="WIDTH: 44%">Date: December 8, 2022<br>
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              <td valign="top" align="left" style="width: 53%;">Vice President</td>
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