Proposal for allocation of disposable profit

The Board of Directors proposes to the Annual General Meeting to be held in Zurich on 20 April 2018 to approve the following allocations and dividend payment:

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CHF millions

2016

2017

Retained earnings brought forward

4

4

Net income for the financial year

3 972

4 043

Disposable profit

3 976

4 047

Allocation to voluntary profit reserves

–3 972

–4 043

Retained earnings after allocation

4

4
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CHF millions

2016

2017

1

Since the Board of Directors’ proposal for allocation of disposable profit, included in the Annual Report 2016, the number of registered shares eligible for dividend, at the dividend payment date of 27 April 2017, decreased due to the share buy-back programme of 5 077 780 shares and transfer of 44 378 shares for employee participation purposes from not eligible to eligible for dividend. This resulted in a lower dividend of CHF 24 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 20 April 2018 is based on the number of shares eligible for dividend as of 31 December 2017. The actual dividend payment will depend on the number of shares eligible for dividend as of 23 April 2018.

Voluntary profit reserves brought forward

11 890

14 305

Allocation from retained earnings

3 972

4 043

Ordinary dividend payment out of voluntary profit reserves

–1 5571

–1 5732

Voluntary profit reserves after allocation and dividend payment

14 305

16 775

Dividend

If the Board of Directors’ proposal for allocations and dividend payment is accepted, an ordinary dividend of CHF 5.00 per share will be paid on 26 April 2018 from voluntary profit reserves.

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Share structure per 31 December 2017

Number of registered shares

Nominal capital in CHF

1

The Board of Directors’ proposal to the Annual General Meeting of 20 April 2018 is based on the number of shares eligible for dividend as of 31 December 2017. The actual dividend payment will depend on the number of shares eligible for dividend as of 23 April 2018.

Eligible for dividend1

314 585 765

31 458 577

Not eligible for dividend

34 866 516

3 486 652

Total shares issued

349 452 281

34 945 228

Zurich, 14 March 2018