Proposal for allocation of disposable profit

The Board of Directors proposes to the Annual General Meeting to be held in Zurich on 21 April 2017 to approve the following allocations and dividend payment:

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CHF millions

20151

2016

Retained earnings brought forward

4

4

Net income for the financial year

3 865

3 972

Disposable profit

3 869

3 976

Allocation to voluntary profit reserves

–3 865

–3 972

Retained earnings after allocation

4

4
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CHF millions

2015

2016

1

Since the Board of Directors’ proposal for allocation of disposable profit, included in the Annual Report 2015, the number of registered shares eligible for dividend, at the dividend payment date of 28 April 2016, decreased due to the share buy-back programme of 6 214 370 shares and transfer of 39 300 shares for employee participation purposes from not eligible to eligible for dividend. This resulted in a lower dividend of CHF 29 million, compared to the Board of Directors’ proposal, and higher voluntary profit reserves by the same amount.

2

The Board of Directors’ proposal to the Annual General Meeting of 21 April 2017, is subject to the actual number of shares outstanding and eligible for dividend.

Voluntary profit reserves brought forward

9 550

11 890

Allocation from retained earnings

3 865

3 972

Ordinary dividend payment out of voluntary profit reserves

–1 5251

–1 5812

Voluntary profit reserves after allocation and dividend payment

11 890

14 281

Dividend

If the Board of Directors’ proposal for allocations and dividend payment is accepted, an ordinary dividend of CHF 4.85 per share will be paid on 27 April 2017 from voluntary profit reserves.

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Share structure per 31 December 2016

Number of
registered shares

Nominal
capital in CHF

1

The Board of Directors’ proposal to the Annual General Meeting of 21 April 2017 is subject to the actual number of shares outstanding and eligible for dividend.

Eligible for dividend1

325 978 727

32 597 873

Not eligible for dividend

34 093 834

3 409 383

Total shares issued

360 072 561

36 007 256

Zurich, 15 March 2017