First Quarter 2017 Results  Presentation to Investors and Analysts  April 26, 2017 

 Disclaimer (1/2)  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, 2016 and in “Cautionary statement regarding forward-looking information" in our first quarter earnings release 2017 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. In particular, the terms “Illustrative”, “Ambition”, “Outlook” and “Goal” are not intended to be viewed as targets or projections, nor are they considered to be Key Performance Indicators. All such illustrations, ambitions and goals are subject to a large number of inherent risks, assumptions and uncertainties, many of which are completely outside of our control. Accordingly, this information should not be relied on for any purpose. We do not intend to update these illustrations, ambitions or goals.We may not achieve the benefits of our strategic initiativesWe may not achieve all of the expected benefits of our strategic initiatives. Factors beyond our control, including but not limited to the market and economic conditions, changes in laws, rules or regulations and other challenges discussed in our public filings, could limit our ability to achieve some or all of the expected benefits of these initiatives.Estimates and assumptionsIn preparing this presentation, management has made estimates and assumptions that affect the numbers presented. Actual results may differ. Annualized numbers do not take account variations in operating results, seasonality and other factors and may not be indicative of actual, full-year results. Figures throughout presentation may also be subject to rounding adjustments.Statement regarding non-GAAP financial measuresThis presentation also contains non-GAAP financial measures, including adjusted results. Information needed to reconcile such non-GAAP financial measures to the most directly comparable measures under US GAAP can be found in this presentation in the Appendix, which is available on our website at credit-suisse.com.Statement regarding capital, liquidity and leverageAs of January 1, 2013, Basel III was implemented in Switzerland along with the Swiss “Too Big to Fail” legislation and regulations thereunder (in each case, subject to certain phase-in periods). As of January 1, 2015, the Bank for International Settlements (BIS) leverage ratio framework, as issued by the Basel Committee on Banking Supervision (BCBS), was implemented in Switzerland by FINMA. Our related disclosures are in accordance with our interpretation of such requirements, including relevant assumptions. Changes in the interpretation of these requirements in Switzerland or in any of our assumptions 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 III framework had been in place in Switzerland during such periods. Unless otherwise noted, leverage exposure is based on the BIS leverage ratio framework and consists of period-end balance sheet assets and prescribed regulatory adjustments. Beginning in 2015, the Swiss leverage ratio is calculated as Swiss total capital, divided by period-end leverage exposure. The look-through BIS tier 1 leverage ratio and CET1 leverage ratio are calculated as look-through BIS tier 1 capital and CET1 capital, respectively, divided by end-period leverage exposure. 

 Disclaimer (2/2)  Selling restrictionsThis document, and the information contained herein, is not an offer to sell or a solicitation of offers to purchase or subscribe for securities of Credit Suisse Group AG. This document is not a prospectus within the meaning of article 652a of the Swiss Code of Obligations, nor is it a listing prospectus as defined in the listing rules of SIX Swiss Exchange AG or of any other exchange or regulated trading facility in Switzerland or a prospectus or offering document under any other applicable laws. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. This document, and the information contained herein, is not for publication or distribution into the United States of America and should not be distributed or otherwise transmitted into the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”)) or publications with a general circulation in the United States. This document does not constitute an offer or invitation to subscribe for or to purchase any securities in the United States of America. The securities referred to herein have not been and will not be registered under the Securities Act, or the laws of any state and may not be offered or sold in the United States of America absent registration or an exemption from registration under Securities Act. There will be no public offering of the securities in the United States of America.The information contained herein does not constitute an offer of securities to the public in the United Kingdom. No prospectus offering securities to the public will be published in the United Kingdom. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) persons who are members of creditors of certain bodies corporate falling within article 43(2) of the Order or (iv) high net worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Directive 2003/71/EC (as amended, including by Directive 2010/73/EU, and including any applicable implementing measures in any Member State, the “Prospectus Directive”) is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive. 

 1Q17 earnings reviewTidjane Thiam, Chief Executive OfficerDavid Mathers, Chief Financial Officer 

 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix  Overview of Credit Suisse 1Q17 results  Pre-tax incomein CHF mn unless otherwise specified    Reported        Adjusted          1Q17  4Q16  1Q16    1Q17  4Q16  1Q16  SUB    404  382  432    483  378  472  IWM    291  331  300    327  300  308  APAC    147  103  264    166  122  265  o/w Wealth Management & Connected    201  162  122    205  167  123  IBCM in USD mn    149  148  (60)    151  142  (32)  Global Markets in USD mn    318  9  (200)    338  23  (98)  Total Core    1,209  692  769    1,389  692  997  SRU in USD mn    (540)  (2,836)  (1,266)    (502)  (516)  (1,181)  Group    670  (2,203)  (484)    889  171  (173)  RWA in CHF bn    264  268  280          “Look-through” CET1 ratio    11.7%  11.5%  11.4%          Leverage exposure in CHF bn    936  951  970          “Look-through” CET1 leverage ratio    3.3%  3.2%  3.3%         

 1Q17 continuing positive 2016 profit momentumGroup adjusted net revenues 18% higher year-on-year, non-compensation expenses* down 15%, withadjusted PTI improvement of over CHF 1 bn compared to 1Q16Wealth Management1 with NNA of CHF 12.0 bn in 1Q17, up 24% year-on-year. Record AuM of CHF 712 bnIBCM with strongest first quarter adjusted PTI since 2013 and outperformance in all key product areasGM net revenues of USD 1.6 bn, adjusted non-compensation operating expenses down 11%, and RoRC† of 10%Executing with disciplineLowest quarterly level of Group adjusted operating expenses since 2013Continued progress with SRU wind-down: adjusted operating expenses down USD 55 mn, a reduction of 19% sequentially; leverage exposure reduced by USD 20 bnAccelerating wind-down of SRU by end 2018, 12 months ahead of scheduleRaising capitalRaising ~CHF 4 bn of capital through a rights offering2, taking our CET1 ratio to ~13.4%3 and our Tier-1 leverage ratio to ~5.1%3Retaining 100% ownership of Credit Suisse (Schweiz) AG    Key messages  1  2  3  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix * Adjusted non-compensation operating expenses at constant FX rates, see Appendix1 Relating to Wealth Management in SUB PC, IWM PB and APAC PB within WM&C 2 Subject to customary conditions, including approval by Extraordinary General Meeting. Reflects approximate proceeds net of fees, expenses and taxes. Does not take into account the issuance of any new shares resulting from the exercise of rights allotted on shares received as scrip dividend 3 On a pro-forma basis, based on end-1Q17 RWA and leverage exposure amounts † See Appendix 

 Group with 18% year-on-year growth in net revenues  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix      Group adjusted net revenuesin CHF bn   +18%    +8% 

 On track to achieve adjusted operating cost base target for 2017 of < CHF 18.5 bn with non-compensation expenses down 15% YoY  Note: Cost reduction program measured in constant FX rates and based on expense run rate excluding major litigation expenses, restructuring costs and a goodwill impairment taken in 4Q15 as well as adjustments for certain accounting changes (which had not been in place at the launch of the cost savings program), debit valuation adjustments (DVA) related volatility and for FX, but including other costs to achieve savings. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix * See Appendix  Group adjusted operating expensesat constant FX rates*in CHF bn   Comp  Non-comp  -15%  -13%  -3%  4.8  4.6  4.9 

   Group 1Q17 adjusted PTI improved by more than CHF 1 bn year-on-year  Adjusted pre-taxincome in CHF bn  Core  1.0  1.4  SRU  -1.2  -0.5  Group  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix   +0.4  +0.7  +0.7  -  0.7  -0.5 

   Strong asset inflows in Wealth Management  Wealth Management1 NNAin CHF bn  1 Relating to Wealth Management in SUB PC, IWM PB and APAC PB within WM&C 2 CAGR measured from 1Q14 to 1Q17  +24%  CAGR2 +13% 

   Strong growth in Assets under Management  Wealth Management1 AuM in CHF bn  1 Relating to Wealth Management in SUB PC, IWM PB and APAC PB within WM&C 2 Including other effects of CHF 2.0 bn        21  12  +33 bn  2  NNA  Marketperfor-mance 

   Significantly increased investments in compliance and controls; prudent risk management  +84%  Compliance & Regulatory Affairs function  FTEs  1,100  2,000  1,400  Total operatingexpensesin CHF mn  1 Measured on the basis of internal data 2 Relating to the combined portfolio of SUB PC, IWM PB and APAC WM&C, excluding mortgages, as of March 31, 2017 3 Relating to the combined portfolio of SUB PC, IWM PB and APAC PB within WM&C, excluding mortgages, as of March 31, 2017 4 Relating to the combined portfolio of SUB, IWM and APAC, as of March 31, 2017 5 Loan loss provisions at 0.6 bps in 1Q17, calculated as the ratio of provision for credit losses to average net loans 6 Impaired loans/gross loan ratio at ~50 bps in 1Q17  Regionally diversified loan portfolio2~50% of loan portfolio with UHNW clients3Lombard lending represents over 60% of credit volume2Low level of loan losses4,5, impaired loans4,6 as well as low risk retentionHigh capital velocity, e.g., ~80% of APAC structured credit origination distributed in 2016  Prudent risk management in wealth management lending1 

   SUB with continued profit growth in 1Q17  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix. Financial and other information is for Swiss Universal Bank division. Scope of Credit Suisse (Schweiz) AG differs from Swiss Universal Bank division† See Appendix  NNA of CHF 2 bn, highest quarterly NNA in Private Clients since 2Q14 Record AuM of CHF 547 bn, up CHF 37 bn year-on-yearFifth consecutive quarter of year-on-year profit growthMandates penetration in Private Clients increased to 31%On track to deliver on planned cost savings of > CHF 200 mn by 2018Highest ever adjusted pre-tax income   Key highlights  Adjusted return onregulatory capital†  15%  SUB adjusted pre-tax incomein CHF mn     

   IWM increasing profits, with continued strong net asset inflows  Private BankingNNA of CHF 4.7 bn; 6% growth rate1Record AuM of CHF 326 bnHighest adjusted PTI with 4% higher revenues year-on-year and stable expensesAdjusted return on regulatory capital† of 23%Asset ManagementNNA of CHF 15 bn; particularly strong performanceManagement fees up 13% year-on-year  Key highlights  Adjusted return onregulatory capital†  23%  IWM PB adjusted pre-tax incomein CHF mn      +8%  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix† See Appendix1 Annualized 

   APAC Wealth Management & Connected performing strongly; restructuring of APAC Markets underway  Wealth Management & ConnectedHighest ever adjusted net revenues, up 44%, and adjusted pre-tax income, up 67% year-on-yearRecord AuM of CHF 177 bnHigher advisory, underwriting and financing revenues and growth in financing with UHNWIAdvisory and underwriting with top-2 ranking1 in APAC ex-Japan among international banksMarketsAligning to Wealth Management businesses, reducing costs and complexityAPAC Markets with 5% of Group RWATarget adjusted RoRC† of 10-15%   Key highlights  Adjusted return onregulatory capital†  31%  APAC WM&C adjusted pre-tax income in CHF mn  +67%  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix1 Dealogic, as of March 31, 2017 † See Appendix  +24% 

   Global advisory and underwriting with continued strong performance in all key products  Global advisory and underwriting revenues1in USD mn  Advisory  Equity underwriting  Debt underwriting  1 Gross global revenues from advisory, debt and equity underwriting generated across all divisions before cross-divisional revenue sharing agreements  +60% 

   IBCM with strong 1Q17 pre-tax income          Net revenues up 54% year-on-year,driven by substantial increases indebt and equity underwritingStrongest first quarter adjusted pre-tax income since 2013Significantly higher returns in the AmericasShare of wallet gain in all key products compared to 1Q161,2Top 5 ranking in Global M&A, IPOs and Leveraged Finance1  Key highlights  Adjusted return onregulatory capital†  23%  IBCM adjusted pre-tax incomein USD mn  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix† See Appendix 1 Dealogic for the period ending March 31, 2017 2 Includes Americas and EMEA only 

   Global Markets with positive jaws – higher revenues and lower operating expenses…  Adjusted non-compensation operating expenses in USD mn  -11%  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix      Net revenues in USD mn  +29%     

   …at lower RWA consumption, delivering a 10% return on regulatory capital in 1Q17, in line with target  Adjusted return on regulatory capital†  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix† See Appendix   RWA in USD bn      -12% 

 SRU leverage exposure in USD bn  SRU – acceleration of SRU wind-down  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix  -20%  SRU RWAin USD bn  44  41  30  SRU adjusted operating expenses in USD mn  287  232  140  -19% 

 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Measured in constant FX rates, see Appendix 2 Based on tangible shareholders’ equity attributable to shareholders, a non-GAAP financial measure, which is calculated by deducting goodwill and other intangible assets from total shareholders’ equity attributable to shareholders as presented in our balance sheet. Management believes that the return on tangible shareholders’ equity attributable to shareholders is meaningful as it allows consistent measurement of the performance of businesses without regard to whether the businesses were acquired  Overview of Credit Suisse 1Q17 results  Adjusted results in CHF mn unless otherwise specified  1Q16    1Q17    4Q16   Net revenues  4,694  +18%  5,519  +8%  5,105   Non-compensation operating expenses1  2,252  -15%  1,925  -13%  2,224   Pre-tax income   -173  n/m  889  +420%  171   Return on Tangible Equity2 in %  n/m    6.5%    n/m   Net new assets in CHF bn  10.2  +139%  24.4  n/m  -6.7   Assets under Management in CHF bn  1,181  +10%  1,304  +4%  1,251   CET1 ratio in %  11.4%  +30 bps  11.7%  +20 bps  11.5% 

   Executing on our capital plan  Investor Day 2015 (October 21, 2015)             

 Delivering on internal capital generation in 2016  Note: Cost reduction program measured in constant FX rates and based on expense run rate excluding major litigation expenses, restructuring costs and a goodwill impairment taken in 4Q15 as well as adjustments for certain accounting changes (which had not been in place at the launch of the cost savings program), debit valuation adjustments (DVA) related volatility and for FX, but including other costs to achieve savings. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix * At constant FX rates, see Appendix    SRU 2016 RWA reduction  USD 32 bn  Transitioning non-core assets, closures    Global Markets 2016 RWA reduction  USD 12 bn  Right-sizing investment bank    Reallocating capital    CHF 1.9 bn  2016 adj. cost savings*  Reducing fixed costs 

   Credit Suisse divisions delivering attractive returns on capital in its core businesses  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix† See Appendix  SUB  IWM  APAC WM&C  IBCMin USD bn  Global Marketsin USD bn  APAC Marketsin USD bn  66  15%    36  26%    19  31%    19  23%    52  10%    14  -5%  ~  in CHF bn unless otherwise specified  1Q17 Adj. RoRC†  1Q17 RWA 

   We have materially deleveraged GM and SRU in 2016, however the potential for further reductions is limited  Wind-down of Strategic Resolution Unit, RWA in USD bn  Right-sizing of Global Markets, RWA in USD bn  73  41  RWA excl. Op. Risk  Op. Risk RWA       

   Executing on our capital plan  Executed in 2015-2016 in CHF bn  Fully underwritten rights issue of ~CHF 4 bn1Retain 100% ownership of Credit Suisse (Schweiz) AGContinue to invest into growth of high-returning franchisesStrengthen balance sheet resilience for our clientsand other stakeholdersComplete restructuring of the Group  Accelerating execution of capital plan in 2017  Plan for 2017 in CHF bn    1 Reflects approximate proceeds net of fees, expenses and taxes. Does not take into account the issuance of any new shares resulting from the exercise of rights allotted on shares received as scrip dividend  2 

 Summary  1Q17 continuing positive 2016 profit momentumExecuting with disciplineRaising capital  1  3  2 

 Detailed Financials 

 Results overview    Adjusted    Credit Suisse Group results 1Q17 4Q16 1Q16 Net revenues 5,534 5,181 4,638 Provision for credit losses 53 75 150 Total operating expenses 4,811 7,309 4,972Pre-tax income/(loss) 670 (2,203) (484) Real estate gains - (78) - (Gains)/losses on business sales (15) 2 56 Restructuring expenses (137) (49) (255) Major litigation expenses (97) (2,401) - Net revenues 5,519 5,105 4,694 Provision for credit losses 53 75 150 Total operating expenses 4,577 4,859 4,717 Pre-tax income 889 171 (173)Net income/(loss) attributable to shareholders 596 (2,619) (302)Diluted Earnings/(loss) per share in CHF 0.27 (1.25) (0.15)Return on Tangible Equity1 6.5% n/m n/m  Note: All values shown are in CHF mn unless otherwise specified. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix1 Based on tangible shareholders’ equity attributable to shareholders, a non-GAAP financial measure, which is calculated by deducting goodwill and other intangible assets from total shareholders’ equity attributable to shareholders as presented in our balance sheet. Management believes that the return on tangible shareholders’ equity attributable to shareholders is meaningful as it allows consistent measurement of the performance of businesses without regard to whether the businesses were acquired 

     1 Business impact includes business moves and internally driven methodology and policy impact; methodology & policy reflects external methodology changes only2 Net of FX and major external methodology changes  Basel III RWA in CHF bn  280  264  1Q17 vs. 1Q16 Basel III RWA business impact2 in CHF bn  (31)  8  (24)  +1  Leverage exposure in CHF bn  1Q16  1Q17  FX impact    Business reduction    (54)  CET1 ratio at 11.7%; significant reduction in RWA and leverage exposure in the SRU  IWM +2  APAC +2  SUB (3)  11.7%  11.4%  CET1 ratio  3.3%  3.3%  CET1 leverage ratio  4.6%  4.4%  Tier-1 leverage ratio      7  Business reduction1  FX impact  Methodology & policy1  (7)  (1)  Improved capital ratios with CET1 ratio at 11.7% and Tier-1 leverage ratio at 4.6%RWA lower by CHF 16 bn YoY, notwithstanding impact from methodology and FXSignificant YoY reductions in leverage exposure, primarily driven by continued progress of SRU wind-downGM operating below RWA ceiling of USD 60 bn and leverage exposure ceiling of USD 290 bn 

 Achieved CHF 250 mn of net savings in 1Q17 against 2016 quarterly expense run-rate  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix * See AppendixHeadcount includes permanent full-time equivalent employees, contractors, consultants and other contingent workers, including roles identified as of March 31, 2017 that will depart or join over the course of 2017  Adjusted operating expenses at constant FX rates* in CHF bn  1Q17 progress driven by net headcount reductions of ~1,400 and decreased professional services cost from the reduction of contractors and consultants1Q17 cost savings of CHF 250 mn; on track to deliver against the full year 2017 target of more than CHF 0.9 bn in net savings, notwithstanding headwinds in expected increase in regulatory-related expensesOn track to deliver headcount reduction of > 5,500 in 2017Committed to delivering on our end-2018 target with adjusted cost base of below CHF 17.0 bn  Key messages        21.2  19.4  (0.25)  <17.0    <18.5  >(0.65) 

 Swiss Universal Bank Continued PTI growth supported by ongoing cost discipline  Key messages  PC  Key metrics in CHF bn  Adjusted key financials in CHF mn    1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Adj. net margin in bps  43  31  44  12  (1)  Net new assets  2.0  (1.8)  0.3      Mandates penetration  31%  30%  27%      Net loans  166  166  163  -  +2%  Net new assets CIC  -  0.8  2.7      Risk-weighted assets  66  66  64  -  +2%  Leverage exposure  257  253  242  +2%  +6%    1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Net revenues  1,354  1,379  1,356  (2)%  -  o/w Private Clients  711  729  728  (2)%  (2)%  o/w Corp. & Inst. Clients  643  650  628  (1)%  +2%  Provision for credit losses  10  34  6      Total operating expenses  861  967  878  (11)%  (2)%  Pre-tax income  483  378  472  +28%  +2%  o/w Private Clients  208  150  205  +39%  +1%  o/w Corp. & Inst. Clients  275  228  267  +21%  +3%  Cost/income ratio  64%  70%  65%      Return on regulatory capital†  15%  12%  16%      Note: Financial and other information is for Swiss Universal Bank division. Scope of Credit Suisse (Schweiz) AG differs from Swiss Universal Bank division. All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix † See Appendix 1 Dealogic  Record pre-tax income of CHF 483 mn up 2% YoY, 5th consecutive quarter with YoY PTI growthStable net revenues compared to 1Q16; higher recurring commissions & fees offset by lower revenues from trading servicesOperating expenses down 2% from 1Q16; cost/income ratio down a full percentage point YoY to 64%Record AuM of CHF 547 bn, up 3% since end-2016Private ClientsStable PTI vs. 1Q16 notwithstanding continued investment in digitization, compliance and risk NNA of CHF 2 bn, representing highest quarterly NNA since 2Q14 and an annualized growth rate of 4%Credit Suisse Invest drove mandates penetration to 31%Corporate & Institutional ClientsStrong recurring revenues growth YoY driven by higher fees from lending activities and positive AuM developmentNNA inflows from pension funds and corporate investors offset by further outflows related to selected exits in the External Asset Manager (EAM) business of CHF (1.6) bnContinued positive momentum in IB Switzerland with good deal flow in M&A, ECM and DCM, resulting in continued #1 position in Swiss Investment Banking1 

 International Wealth ManagementHigher revenues, higher pre-tax income and strong NNA  Note: All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix † See Appendix1 Annualized  Adjusted key financials in CHF mn    1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Net revenues  1,221  1,245  1,173  (2)%  +4%  o/w Private Banking  883  864  853  +2%  +4%  o/w Asset Management  338  381  320  (11)%  +6%  Provision for credit losses  2  6  (2)      Total operating expenses  892  939  867  (5)%  +3%  Pre-tax income  327  300  308  +9%  +6%  o/w Private Banking  262  192  243  +36%  +8%  o/w Asset Management  65  108  65  (40)%  -  Cost/income ratio  73%  75%  74%      Return on regulatory capital†  26%  24%  26%      PB    1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Adj. net margin in bps  32  24  34  +8  (2)  Net new assets  4.7  0.4  5.4      Number of RM  1,120  1,140  1,170  (2)%  (4)%  Net loans  46  45  40  +3%  +15%  Net new assets AM  15.0  (4.4)  1.5      Risk-weighted assets  36  35  33  +2%  +8%  Leverage exposure  94  94  91  -  +3%  Key messages  Key metrics in CHF bn  Strong start to the year with PTI up 6% and revenues up 4% vs. 1Q16, which was the strongest quarter in PB of 2016 and included a private equity gain in AMBoth businesses with a rebound in NNA from 4Q16 reflecting continued good asset gathering momentumPrivate BankingPTI up 8% vs. 1Q16, driven by 5% higher recurring commissions & fees and 5% higher NII while expenses remained stableNII growth reflected higher loan and deposit volumes at wider margins, partially offset by lower treasury resultsClient activity improved with 21% higher brokerage & client FX revenues, offset by 17% lower revenues from trading servicesNNA of CHF 4.7 bn at 6% growth rate1 in both emerging markets and Europe; includes regularization outflows of CHF 0.4 bnAsset ManagementPTI stable vs. 1Q16, which included a CHF 45 mn private equity gain; 4Q16 included seasonal year-end performance feesManagement fees increased 13% vs. 1Q16 and 11% vs. 4Q16Strong NNA of CHF 15.0 bn including CHF 6.2 bn in traditional and alternative investments, also reflecting strong collaboration with Credit Suisse's global WM businesses, and CHF 8.8 bn from emerging markets joint ventures 

 Adjusted key financials in CHF mn  Asia PacificContinued growth in WM&C with strong NNA  Key messages  Wealth Management & Connected (WM&C)Record net revenues and pre-tax income for 1Q17, with revenue increase of 44% and pre-tax income increase of 67% vs. 1Q16NNA of CHF 5.3 bn in 1Q17Improvement of PB net margin to 33 bps on record AuM of CHF 177 bn, supported by higher client activity and YoY increased loan and deposit volumesHigher Advisory, Underwriting & Financing revenues vs. 1Q16 from strong client activity in M&A and debt underwriting and growth in financing activities with UHNW and entrepreneur clients; 1Q17 included positive net fair value impact from an impaired loan portfolioTop 2 Rank2 in APAC ex-Japan amongst international banks in Advisory and Underwriting for 1Q17Markets1Q17 pre-tax loss similar to 4Q16; revenues were significantly lower vs. 1Q16 reflecting substantially reduced activity in Rates (reduced issuance of structured notes) and lower market volatility, while performance in Cash and Credit products was comparatively resilientEfficiency initiatives launched in 2016 resulted in an 8% decrease in total operating expenses vs. 1Q16; further measures underway to reduce 2018 full year expense base3 to USD 1.2 bn, representing a reduction of 17% from 1Q16 annualized expensesYoY reduction in Markets RWA and leverage exposure by 5% and 10%, respectively    1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Net revenues  881  862  907  +2%  (3)%  o/w WM&C  589  560  408  +5%  +44%  o/w Markets  292  302  499  (3)%  (41)%  Provision for credit losses  4  11  (22)      Total operating expenses  711  729  664  (2)%  +7%  Pre-tax income  166  122  265  +36%  (37)%  o/w WM&C  205  167  123  +23%  +67%  o/w Markets  (39)  (45)  142  n/m  n/m  Cost/income ratio  81%  85%  73%      Return on regulatory capital†  12%  9%  21%      PB1    1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Adj. net margin in bps  33  22  32  +11  +1  Net new assets  5.3  0.7  4.0      Number of RM  620  640  620  (3)%  -  Assets under management   177  167  149  +6%  +19%  Net loans  41  40  35  2%  15%  Risk-weighted assets  33  35  28  (4)%  +20%  Leverage exposure  106  109  104  (2)%  +3%  Key metrics in CHF bn  Note: All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix † See Appendix1 APAC PB within WM&C 2 Source: Dealogic, as of March 31, 2017 3 Refers to adjusted operating expenses 

 Key messages  Investment Banking & Capital MarketsContinued strong performance driven by equity and debt underwriting   Note: All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix. All share of wallet and rank data is based on IBCM addressable market; includes Americas and EMEA only; excludes self-advised deals and non-core DCM products (investment grade loans, asset-backed and mortgage-backed securities, and government debt) † See Appendix 1 Gross global revenues from advisory, debt and equity underwriting generated across all divisions before cross-divisional revenue sharing agreements 2 Source: Dealogic for the period ending March 31, 2017; includes Americas and EMEA only 3 Source: Dealogic for the period ending March 31, 2017    1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Risk-weighted assets  19  18  18  +5%  +5%  Leverage exposure  44  45  46  (1)%  (5)%  Adjusted key financials in USD mn    1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Net revenues  608  569  395  +7%  +54%  Provision for credit losses  6  (1)  30      Total operating expenses  451  428  397  +5%  +14%  Pre-tax income  151  142  (32)  +6%  n/m  Cost/income ratio  74%  75%  101%      Return on regulatory capital†  23%  22%  n/m      Key metrics in USD bn    1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Global advisory and underwriting revenues1  1,133  1,042  709  +9%  +60%  Global Advisory and Underwriting revenues1 in USD mn  Results reflect continued execution of our strategy:1Q17 share of wallet2 up YoY in all key productsTop 5 rank3 in each of Global M&A, IPOs and Leveraged Finance for 1Q17Net revenues of USD 608 mn are up 54% YoY, driven by substantial increases in debt and equity underwritingOperating expenses are up 14% YoY primarily due to an increased compensation accrual in line with the improvement in business performanceReturn on regulatory capital† is 23%, with significantly higher returns in the AmericasRWA of USD 19 bn is up 5% YoY primarily due to portfolio growth in the Corporate BankGlobal advisory and underwriting revenues1 are up 60% YoY, outperforming the industry-wide fee pool3 which is up 19%Outperformance driven by all products with equity and debt underwriting up significantly vs. Street activity on a global basis3 

 Key messages  Global MarketsStrong performance in 1Q17 resulting in a 10% return on regulatory capital†    1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Equities  465  441  540  5%   (14)%   Equities ex SMG  464  417  475  11%   (2)%  Credit  921  608  395  52%   133%   Solutions  263  259  343  2%   (23)%  Other  (34)  (52)  (26)        Net revenues  1,615  1,256  1,252  29%   29%   Provision for credit losses  5   (3)  22        Total operating expenses  1,272  1,236  1,328  3%   (4)%  Pre-tax income  338  23  (98)  n/m  n/m  Cost/income ratio  79%  98%  106%      Return on regulatory capital†  10%  1%  n/m        1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Risk-weighted assets  52  51  59  3%   (12)%  Leverage exposure  287  278  292  3%   (2)%  Key metrics in USD bn  Note: All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix† See Appendix  Adjusted key financials in USD mn  Substantially higher profitability vs 1Q16 driven by improved operating leverage and capital efficiency; revenues increased 29% on a 4% reduction in costs and 12% reduction in RWA Outperformance in credit and securitized products, up 133% vs. a challenging 1Q16, with revenue growth across both trading and underwriting on lower RWA usageSolid YoY Equities revenues across Americas and EMEA in a weak trading environment, with notable strength in Latin America and in UnderwritingWithin Solutions, rebound in Emerging Markets vs. 1Q16 offset by decline in Equity Derivatives due to lower volatility and our reduced issuance of structured notes in MacroOperating expenses declined 4% vs. 1Q16 reflecting continued progress on accelerated cost reductions; on-track to deliver end- 2018 ambition of < USD 4.8 bn in costs from ongoing initiatives including platform rationalization and elimination of duplication  

 Key messages  Strategic Resolution UnitAdjusted expenses, leverage exposure and RWA reduced by ~50% year-on-year  Adjusted  Key financials in USD mn    1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Net revenues  (246)  (201)  (540)  (22)%  +55%  Provision for credit losses  23  28  119      Total operating expenses  233  287  522  (19)%  (55)%  Pre-tax loss  (502)  (516)  (1,181)                  Real estate gains  -  (4)  -      (Gain) / loss on business sales  (39)  1  5      Restructuring expenses  7  1  80      Major litigation expenses  70  2,322  -      Pre-tax loss reported  (540)  (2,836)  (1,266)        1Q17  4Q16  1Q16  Δ 4Q16  Δ 1Q16  Risk-weighted assets  41  44  67  (7)%  (38)%  RWA excl. operational risk  22  25  47  (14)%  (54)%  Leverage exposure  83  103  167  (20)%  (50)%  Key metrics in USD bn  Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix1 Gross revenue breakout based on internal categorization   1Q17 RWA excl. operational risk and leverage exposure reductions of USD 4 bn (14%) and USD 21 bn (20%) respectively, were achieved across a wide range of transactions:Continued progress in reducing loan and financing exposure, notably through the portfolio sale of senior financing on US Middle Market loansDerivative reductions achieved primarily through novations, compression and unwinds across our legacy investment banking portfolios; bilateral derivatives trade count of 123k, down 19k vs. 4Q16, or 14%Adjusted pre-tax loss of USD 502 mn in 1Q17; continued progress reducing adjusted expenses by USD 54 mn vs. prior quarter, or 19%, partly offset by lower adjusted net revenues:Funding costs of USD 291 mn, down USD 17 mn quarter-on-quarter; exit costs of USD 43 mn, or 1% of RWA, in line with lifetime guidance of less than 3%On a year-on-year basis, RWA excl. operational risk and leverage exposure reduced by USD 25 bn (54%) and USD 84 bn (50%), respectively; adjusted pre-tax loss improved by USD 679 mn:Fee-based revenues1 of USD 68 mn in 1Q17, down 76% year-on-year, the result of accelerated business exits; adjusted operating expenses lower by USD 290 mn 

 Accelerated wind-down of SRU with capital targets to be achieved one year early at no incremental costs  Operational risk  Credit & market risk  RWA1 in USD bn    Leverage exposure in USD bn    1 RWA shown exclude projected inflation from future regulatory uplifts (e.g., fundamental review of trading book). Regulatory (FINMA) approval required for any operational risk reduction    Accelerate wind-down of SRU;Target brought forward one year  Accelerate wind-down of SRU;Target brought forward one year    SRU reductions continue to be better than target; revised ambition is to reach our 2019 goal of USD 30 bn of RWA by end-2018Expected pre-tax loss guidance for 2018 of USD 1.4 bn remains unchangedSRU program will be economically completed by end-2018; residual operations and assets to be absorbed into the rest of Group from 2019 onwards 

 Capital raise 

 As announced in October 2015, our original capital plan was to raise CHF 2-4 bn from the minority IPO of Credit Suisse (Schweiz) AG    Credit Suisse (Schweiz) AG IPOCHF 2.0-4.0 bn 

 Expect to achieve CET1 ratio target of ~13% immediately following ~CHF 4 bn rights issue  Note: Amounts do not take into account the issuance of any new shares resulting from the exercise of rights allotted on shares received as scrip dividend 1 Pre Basel III reform uplift 2 Reflects approximate proceeds net of fees, expenses and taxes. Does not take into account the issuance of any new shares resulting from the exercise of rights allotted on shares received as scrip dividend 3 Amounts calculated based on end-1Q17 RWA and leverage exposure amounts  CET1 capital ratio target of ~131  Illustrative CET1 ratio development  Credit Suisse targets a CET1 ratio of ~13% prior to the Basel III reformsCapital raise replaces the previous plan to raise CHF 2 – 4 bn from the minority IPO of Credit Suisse (Schweiz) AG, originally planned for 2H17, enabling Credit Suisse to retain complete ownership of its historically stable cash flows without the complexity and dilution from a minority interest in a key divisionAs outlined in our December 2016 Investor Day, the additional capital helps us to operate at a conservative level of capital immediately while funding RWA growth in our wealth management businessesOur capital strategy for Global Markets remains unchanged: that is to operate within the previous target of USD 60 bn of RWA (pre-Basel III reforms)        2  3 

 Expect to achieve Tier-1 leverage ratio target of ~5% following rights issue, immediately satisfying 2020 TBTF21 going concern requirement  Tier-1 leverageratio target of ~5%  ~5.1%  4.6%  CET1  Tier-1  Illustrative leverage ratio development  Addt’l Tier-1  Credit Suisse intends to operate at a ~5% Tier-1 leverage ratio, immediately satisfying the 2020 going concern leverage requirement of a minimum of 5% under TBTF21Leverage will increase in our wealth management businesses, in line with RWA growthHowever, Global Markets expected to continue to operate at a maximum leverage exposure of USD 290 bnThere remains significant potential to reduce leverage in the SRU as we complete the program by 2018  Note: Amounts do not take into account the issuance of any new shares resulting from the exercise of rights allotted on shares received as scrip dividend 1 Revised Swiss TBTF rules will be phased-in and become fully effective January 1, 2020 2 Reflects approximate proceeds net of fees, expenses and taxes. Does not take into account the issuance of any new shares resulting from the exercise of rights allotted on shares received as scrip dividend 3 Amounts calculated based on end-1Q17 RWA and leverage exposure amounts  2  3 

 Proposed revision to dividend policy  Dividend in respect of 2017:Our intention, subject to performance and the Board’s decision in due course, is to recommend a cash dividend at a similar level, on a per share basis, to recent yearsHowever, we also recommend ceasing the use of a scrip alternative from 2017 onwards to avoid further diluting our shareholdersLonger term dividend policy:We will not recommend scrip dividends thereafterThe Board’s intention is to recommend to shareholders that:We operate a dividend policy competitive with that of our peersWe return surplus capital to our shareholders provided that we meet our capital targetsOnce the reforms to Basel III have been completed, we will be able to give greater visibility to our shareholders, but, in the interim, our intention is to maintain a capital target of around 13% CET1 and a Tier-1 leverage ratio of around 5% 

 Proposed timeline and certain key terms for capital raise    April 26thWednesday  May 23rdTuesday  June 7th (noon)Wednesday  June 8th Thursday  June 2nd Friday  2017  Certain Key Terms  Structure  Firm underwritten rights issue1  Size of rights issue  ~CHF 4 bn2  Number of firmly underwritten shares  ~380 mn  April 28thFriday  May 18thThursday  May 4thThursday  1 Subject to customary conditions, including approval by Extraordinary General Meeting 2 Reflects approximate proceeds net of fees, expenses and taxes. Does not take into account the issuance of any new shares resulting from the exercise of rights allotted on shares received as scrip dividend  May 22ndMonday  May 9thTuesday  May 19th (noon)Friday  May 24thWednesday  Announcementrights issue1Q17 results     Annual GeneralMeeting    Publication1Q17 FinancialReport    Ex-dividendday    ExtraordinaryGeneralMeeting    End of election period scrip dividend    Publication of prospectus    Ex-rightsday    Scrip dividend: Delivery of new shares (incl. rights) / payment of cash distribution    End ofrights tradingperiod    End of rightsexerciseperiod    Firsttrading dayof new shares    Scrip dividend participation  Shares distributed as scrip dividend carry pre-emptive rights allowing participation in rights issue 

 Wrap-up  1Q17 continuing positive 2016 profit momentumExecuting with disciplineRaising capital  1  3  2