Proposal for allocation of disposable profit

The Board of Directors proposes to the Annual General Meeting to be held in Zurich on 17 April 2019 to approve the following allocations and dividend payment:

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CHF millions

2017

2018

Retained earnings brought forward

4

4

Net income for the financial year

4 043

3 077

Disposable profit

4 047

3 081

Allocation to voluntary profit reserves

–4 043

–3 077

Retained earnings after allocation

4

4
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CHF millions

2017

2018

1

Since the Board of Directors’ proposal for allocation of disposable profit, included in the Annual Report 2017, the number of registered shares eligible for dividend, at the dividend payment date of 26 April 2018, decreased due to the share buy-back programme of 4 485 316 shares and transfer of 46 926 shares for employee participation purposes from not eligible to eligible for dividend. This resulted in a lower dividend of CHF 22 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 17 April 2019 is based on the number of shares eligible for dividend as of 31 December 2018. The actual dividend payment will depend on the number of shares eligible for dividend as of 18 April 2019.

Voluntary profit reserves brought forward

14 305

16 797

Allocation from retained earnings

4 043

3 077

Ordinary dividend payment out of voluntary profit reserves

–1 5511

–1 6802

Voluntary profit reserves after allocation and dividend payment

16 797

18 194

Dividend

If the Board of Directors’ proposal for allocations and dividend payment is accepted, an ordinary dividend of CHF 5.60 per share will be paid on 25 April 2019 from voluntary profit reserves.

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Share structure per 31 December 2018

Number of registered shares

Nominal capital in CHF

1

The Board of Directors’ proposal to the Annual General Meeting of 17 April 2019 is based on the number of shares eligible for dividend as of 31 December 2018. The actual dividend payment will depend on the number of shares eligible for dividend as of 18 April 2019.

Eligible for dividend1

300 044 141

30 004 414

Not eligible for dividend

38 575 324

3 857 532

Total shares issued

338 619 465

33 861 946

Zurich, 13 March 2019