Why Credit Suisse? Private Banking & Wealth Management 3Q2014

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1 Why Credit Suisse? Private Banking & Wealth Management 3Q2014 October 2014

2 Disclaimer Cautionary statement regarding forward-looking statements This presentation contains forward-looking statements that involve inherent risks and uncertainties, and we might not be able to achieve the predictions, forecasts, projections and other outcomes we describe or imply in forward-looking statements. A number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions we express in these forward-looking statements, including those we identify in "Risk Factors" in our Annual Report on Form 20-F for the fiscal year ended December 31, 2013 and in "Cautionary statement regarding forward-looking information" in our third quarter 2014 earnings release filed with the US Securities and Exchange Commission, and in other public filings and press releases. We do not intend to update these forward-looking statements except as may be required by applicable law. Statement regarding non-gaap financial measures This presentation also contains non-gaap financial measures, including adjusted cost run-rates. Information needed to reconcile such non- GAAP financial measures to the most directly comparable measures under US GAAP can be found in the presentation to investors slides for the third quarter 2014, which are available on our website at credit-suisse.com. Statement regarding capital, liquidity and leverage As of January 1, 2013, Basel 3 was implemented in Switzerland along with the Swiss Too Big to Fail legislation and regulations thereunder. Our related disclosures are in accordance with our current interpretation of such requirements, including relevant assumptions. Changes in the interpretation of these requirements in Switzerland or in any of our assumptions and/or estimates could result in different numbers from those shown in this presentation. Capital and ratio numbers for periods prior to 2013 are based on estimates, which are calculated as if the Basel 3 framework had been in place in Switzerland during such periods. Unless otherwise noted, leverage ratio, leverage exposure and total capital amounts included in this presentation are based on the current FINMA framework. Swiss Total Capital Leverage ratio is calculated as Swiss Total Capital divided by a three-month average leverage exposure, which consists of balance sheet assets, off-balance sheet exposures that consist of guarantees and commitments, and regulatory adjustments that include cash collateral netting reversals and derivative add-ons. October

3 Credit Suisse: an integrated global bank Founded in 1856 with headquarters in Zurich, Switzerland, Credit Suisse has operations in over 50 countries and employs 45,500 individuals from approximately 150 different nations Our integrated business model combines the resources of our two divisions, allowing us to provide comprehensive solutions to our clients Private Banking & Wealth Management Investment Banking October

4 With our local presence and global approach, we are well-positioned to respond to changing client needs and market trends, while coordinating our activities on a cross-divisional basis Switzerland A leading bank for private, corporate and institutional clients The Investment Banking division offers a full-range of financial services to its Swiss client base Europe, Middle East and Africa 214 branches 17,900 employees 63 offices 9,600 employees Headquartered in the UK; onshore presence in every major EMEA country; encompasses both developed and emerging markets Both divisions are strongly represented in the region Centers of excellence (CoEs) Centers of Excellence support our operations and are essential to the implementation of our strategy. Wroclaw in Poland, Mumbai and Pune in India and Raleigh-Durham in the US are home to our CoEs. At year-end 2013, almost 15,000 roles were located in our CoEs, including contractors, third-party affiliates and vendors working for Credit Suisse All information as of end 2013, unless noted otherwise. UHNWI = Ultra-high-net-worth individuals: total wealth > CHF 250 mn or AuM > CHF 50 mn. Americas 43 offices 11,100 employees Operations in the US, Canada, the Caribbean and Latin America Local market expertise and access to our PB&WM and Investment Banking services Asia Pacific 24 offices 7,400 employees Singapore and Hong Kong as key hubs for our PB&WM and our strong Investment Banking business Strong presence in Australia, China, Korea, Japan and presence in Southeast Asia and India October

5 Facts & figures Financial highlights 1 Revenue contribution 4 Strategic results 2 in CHF bn (in/end of) 9M Net revenues Pre-tax income Return on equity 3 13% 13% 15% 48% 9M14 52% Private Banking & Wealth Management Investment Banking Total reported results in CHF bn Net revenues Pre-tax income Net income attributable to shareholders % 26% 9M14 38% 23% Switzerland EMEA Americas Asia Pacific Net new assets Assets under management 1,366 1,282 1,251 Basel 3 RWA look-through Basel 3 CET1 ratio look-through 9.8% 10.0% 8.0% Swiss Total Capital leverage ratio look-through 3.8% 3.7% not applicable Number of employees 5 end 3Q14 26,000 19,200 Private Banking & Wealth Management 45,500 Corporate Center 300 Investment Banking Strong senior credit ratings 6 (Credit Suisse AG): Short-term Long-term Moody s P-1 A1 S&P A-1 A Fitch Ratings F1 A CET1 = Common equity tier 1. RWA = Risk-weighted assets. 1 Core results. 2 In 4Q13, we created non-strategic units within the Private Banking & Wealth Management and Investment Banking divisions and separated non-strategic items in the Corporate Center. For further information, see our 2013 annual report. 3 Return on equity for strategic results calculated by dividing annualized strategic net income by average strategic shareholders' equity (derived by deducting 10% of non-strategic RWA from reported shareholders equity). 4 Reported Core results, excluding Corporate Center. 5 Full-time equivalents. 6 As of end 3Q14. October

6 Private Banking & Wealth Management Products & services We offer comprehensive advice and a broad range of financial solutions to private, corporate and institutional clients Clients We advise and manage portfolios, mutual funds and other investment vehicles for private clients, corporates, institutions and governments Assets under management 1 as of 3Q CHF 1,353 bn Assets under management in WMC business, as of 3Q14 Wealth Management Clients Corporate & Institutional Clients Asset Management Strategy Deliver tailor-made and best-inclass financial solutions, building on our structured advisory process Further increase market share in Switzerland across client segments Reallocate resources and capital to capture growth, particularly in emerging markets and UHNWI segment Reposition select onshore mature markets and further grow select profitable onshore businesses Strategic results in CHF bn (in/end of) 9M Net revenues Pre-tax income Cost/income ratio 69% 70% 72% Strategic businesses Wealth Management Clients Corporate & Institutional Clients Asset Management Number of relationship managers within WMC business, as of 3Q14 Switzerland EMEA Americas Asia Pacific Total 3, CHF 864 bn Switzerland EMEA Americas Asia Pacific Net new assets in WMC business (from 2011 through 3Q14) 49% CHF 98 bn 13% 12% 26% Switzerland EMEA Americas Asia Pacific Rounding differences may occur. WMC = Wealth Management Clients. EMEA = Europe, Middle East and Africa. UHNWI = Ultra-high-net-worth individuals: total wealth > CHF 250 mn or AuM > CHF 50 mn. 1 Strategic assets under management. Assumes assets managed across businesses relate to strategic businesses only. October

7 Key performance indicators Credit Suisse 1 key performance indicators (KPIs) Collaboration revenues 18% to 20% of net revenues Target superior TSR 2 vs. peers Target M14 19% 18% 16% Credit Suisse 5% 26% (0)% Peer group 3 53% 34% (2)% Return on equity above 15% 4% 6% 4% Divisional and operational businesses KPIs Cost/income ratio Private Banking & Wealth Management Strategic 71% 75% 86% 4 65% Net new assets growth rate Wealth Management Clients 6% 5 3% to 4% 6 Cost/income ratio below 70% 91% 85% 87% 4 Look-through CET1 ratio 11% - 10% 9.8% target Our KPIs are targets to be achieved over a three to five year period across market cycles. Our KPIs are assessed annually as part of our normal planning process and may be revised to reflect our strategic plan, the regulatory environment and market and industry trends. Investment Banking 84% 86% Strategic 79% 70% Asset Management 6% 7 1 Core results. 2 Source: Bloomberg. Total shareholder return is calculated as equal to the appreciation or depreciation of a particular share, plus any dividends, over a given period, expressed as a percentage of the share s value at the beginning of the period. 3 Comprises Bank of America, Barclays, BNP Paribas, Citigroup, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, Nomura, Société Générale and UBS. The total shareholder return of this peer group is calculated as a simple, unweighted average of the return reported by Bloomberg for each of the members of the peer group. 4 Includes the previously announced CHF 1,618 mn charge relating to the final settlement of all outstanding US cross-border matters. 5 Long-term net new asset growth target through 2015 net new assets growth target. 7 Includes outflows from a single low margin mandate in October

8 Total Non- Strategic Strategic Private Banking & Wealth Management Strategic pre-tax income up 8% vs. 3Q13 in CHF mn 3Q14 2Q14 3Q13 9M14 9M13 Net revenues 2,939 2,932 2,934 8,902 9,174 Provision for credit losses Compensation and benefits 1,150 1,184 1,205 3,559 3,785 Other operating expenses ,551 2,755 Total operating expenses 2,041 2,020 2,113 6,110 6,540 Pre-tax income ,719 2,579 Basel 3 RWA in CHF bn Leverage exposure in CHF bn Cost/income ratio 69% 69% 72% 69% 71% Return on regulatory capital 1 27% 28% 27% 29% 29% Net new assets 2 in CHF bn Assets under management 2 in CHF bn 1,353 1,304 1,220 1,353 1,220 Net revenues Total operating expenses 116 1, , Pre-tax income / (loss) 71 (1,631) 210 (1,513) 237 Net revenues 3,125 3,046 3,316 9,411 10,013 Pre-tax income / (loss) 943 (749) 1,018 1,206 2,816 Basel 3 RWA in CHF bn Net new assets in CHF bn Assets under management in CHF bn 1,366 1,330 1,268 1,366 1,268 Strategic results vs. 3Q13 and 9M13 Pre-tax income of CHF 872 mn in 3Q14, up 8% compared to 3Q13 with lower expenses and stable revenues 9M14 pre-tax income of CHF 2.7 bn, up 5% Net revenues stable compared to 3Q13 with strong collaboration revenues and solid brokerage fee generation (in a seasonally weaker quarter) despite continued impact from the low interest rate environment Expenses down 7% compared to 9M13 Excluding certain litigation provisions in 3Q14 of CHF 41 mn, the cost/income ratio would have improved to 68% Net new assets ahead of 9M13 result with strong asset generation in Asia Pacific and solid contribution from Asset Management Non-Strategic results in 3Q14 Increase in revenues includes a gain of CHF 109 mn on the sale of our domestic private banking business booked in Germany 1 Calculated using income after tax denominated in CHF; assumes tax rate of 30% in 3Q14, 2Q14, 3Q13, 9M14 and 29% in 9M13 and capital allocated on average of 10% of average Basel 3 risk-weighted assets and 2.4% of average leverage exposure. 2 Assumes assets managed across businesses relate to Strategic businesses only. October

9 Strong inflows from emerging markets and continued momentum in Asset Management Private Banking & Wealth Management Strategic net new assets in 3Q14 in CHF bn % Wealth Management Clients Annualized net new assets growth rate EMEA 1.2 3% 5.8 Asset Management 4% 3.3 Alternative Investments Core Investments Corporate & Institutional Clients Western European cross-border outflows in WMC 1 (0.7) (0.5) Eliminating doublecount related to collaboration 2 3 PB&WM Strategic 3% 8.8 Solid Strategic net new assets of CHF 8.8 bn Wealth Management Clients with inflows 4 of CHF 5.8 bn; net new assets were CHF 5.1 bn with significant contribution from Asia Pacific Strong inflows from emerging markets with more than two-thirds from the UHNWI segment 6.2 Asia Pacific WMC = Wealth Management Clients EMEA = Europe, Middle East and Africa 1 Western European cross-border outflows of CHF 0.4 bn in EMEA and CHF 0.4 bn in Switzerland, and inflows of CHF 0.1 bn in Americas. 2 Additional Western European cross-border outflows of CHF 0.8 bn in Non- Strategic unit. 3 Assets managed by Asset Management for Wealth Management Clients and Corporate & Institutional Clients (assumes assets managed across businesses relate to Strategic businesses only). 4 Excludes Western European cross-border outflows. (0.5) Americas Switzerland (1.1) by management region Before Western European cross-border outflows 7.3 Emerging markets Mature markets by customer domicile (1.5) Continued momentum in Asset Management driven by inflows in emerging markets and alternative products Total Western European cross-border outflows of CHF 1.5 bn, of which CHF 0.7 bn in the strategic business October

10 Continued strong profitability in Wealth Management Clients; Pre-tax income up 5% compared to 3Q13 Compared to 3Q13 & 2Q14 in CHF mn 3Q14 2Q14 3Q13 9M14 9M13 Net interest income ,089 2,290 Recurring commissions & fees ,202 2,214 Transaction- & perf.-based revenues ,842 1,884 Net revenues 2,042 2,017 2,062 6,133 6,388 Provision for credit losses Total operating expenses 1,489 1,431 1,532 4,400 4,744 Pre-tax income ,683 1,584 Cost / income ratio 73% 71% 74% 72% 74% Net loans in CHF bn Basel 3 RWA in CHF bn Return on regulatory capital 1 28% 31% 30% 30% 31% Net new assets in CHF bn Assets under management in CHF bn Pre-tax income of CHF 536 mn, up 5% YoY; operating expenses include certain litigation provisions of CHF 41 mn Fee-based revenues increased 4%, driven by higher brokerage and higher collaboration revenues vs. 3Q13 Expense reduction of 3% YoY despite certain litigation provisions; expenses in line with 2Q14 when adjusted for litigation provisions and the US dollar appreciation Net new assets of CHF 5.1 bn, ahead of 3Q13; AuM increased CHF 34.6 bn or 4% compared to 2Q14, including CHF 25 bn due to the appreciation of the US Dollar Compared to 9M13 Pre-tax income of CHF 1.7 bn, up 6% Stable recurring fees; strong growth in collaboration and discretionary mandates revenues Operating expenses down CHF 344 mn or 7% Strong net new assets of CHF 23.1 bn at an annualized growth rate of 4%, ahead of 9M13 1 Calculated using income after tax denominated in CHF; assumes tax rate of 30% in 3Q14, 2Q14, 3Q13, 9M14 and 29% in 9M13 and capital allocated on average of 10% of average Basel 3 risk-weighted assets and 2.4% of average leverage exposure. October

11 UHNWI lending initiative with continued successful growth Net new lending to ultra-high-net-worth individual (UHNWI) segment in Wealth Management Clients in CHF bn Sustained successful growth in UHNWI lending 1.4 9M13 1Q14 2Q14 3Q14 Net new lending up CHF 3.9 bn in 9M14 to CHF 36 bn 3Q14 with continued strong growth of CHF 1.1 bn 9M14 growth of CHF 3.9 bn vs. CHF 1.0 bn in 9M Realizing benefits from lending initiative in all regions over 9M14: Emerging markets: CHF 2.8 bn with Asia Pacific showing largest increase Other regions: CHF 1.1 bn, of which Western Europe CHF 0.6 bn and Switzerland CHF 0.4 bn Asia Pacific Emerging EMEA Latin America Other regions Utilizing dedicated Sales and Trading Services platform and extended product capabilities for non-standard lending (e.g. real estate, hedge fund and other illiquid collateral) Key element of UHNWI growth strategy, as total UHNWI net new assets amounted to CHF 15 bn in 9M14, up 50% vs. 9M13 1 Includes CHF 0.1bn of non-nna relevant credit volume developments. Emerging EMEA = Eastern Europe, Middle East and Africa. Other regions = Western Europe, U.S. and Switzerland. October

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