Proposal for allocation of disposable profit

The Board of Directors proposes to the Annual General Meeting to be held in Zurich on 22 April 2016 to approve the following allocations and dividend payment:

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CHF millions

20141

2015

Retained earnings brought forward

4

4

Net income for the financial year

4 110

3 865

Disposable profit

4 114

3 869

Allocation to voluntary profit reserves

–4 110

–3 865

Retained earnings after allocation

4

4
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CHF millions

20141

2015

1

Some line items in the above table have been renamed based on the adoption of the new provisions of the Swiss Code of Obligations.

2

Since the Board of Directors’ proposal for allocation of disposable profit, included in the Annual Report 2014, the number of registered shares eligible for dividend, at the dividend payment date of 27 April 2015, increased due to the transfer of 1 180 649 shares for employee participation purposes from not eligible to eligible for dividend. This resulted in a higher dividend of CHF 9 million, compared to the Board of Directors’ proposal, and in lower legal reserves from capital contributions by the same amount.

3

The Board of Directors’ proposal to the Annual General Meeting of 22 April 2016, is subject to the actual number of shares outstanding and eligible for dividend.

Voluntary profit reserves brought forward

5 440

9 550

Allocation from retained earnings

4 110

3 865

Reclassification of legal reserves from capital contributions into voluntary profit reserves

2 4812

-

Ordinary dividend payment out of voluntary profit reserves

–1 4542

–1 5543

Special dividend payment out of voluntary profit reserves

–1 0272

-

Voluntary profit reserves after allocation and dividend payment

9 550

11 861

Dividend

If the Board of Directors’ proposal for allocations and dividend payment is accepted, an ordinary dividend of CHF 4.60 per share will be paid on 28 April 2016 from voluntary profit reserves.

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Share structure per 31 December 2015

Number of
registered shares

Nominal
capital in CHF

1

The Board of Directors’ proposal to the Annual General Meeting of 22 April 2016 is subject to the actual number of shares outstanding and eligible for dividend.

eligible for dividend1

337 739 705

33 773 970

not eligible for dividend

32 967 226

3 296 723

Total shares issued

370 706 931

37 070 693

Zurich, 15 March 2016