Form 6-K CREDIT SUISSE GROUP AG For: Oct 22

 October 22, 2015  Credit Suisse Strategy and ObjectivesTidjane Thiam 

 Disclaimer  The 3Q15 financial information is subject to further review We have not finalized our 3Q15 Financial Report and our independent registered public accounting firm has not completed its review of the condensed consolidated financial statements (unaudited) for the period. Accordingly, the 3Q15 financial information contained in this presentation is subject to completion of quarter-end procedures, which may result in changes to that information. Certain reclassifications have been made to prior periods to conform to the current presentation.The re-segmented financial information is preliminary and subject to further review Unless otherwise noted, this presentation contains certain historical financial information that has been re-segmented to approximate what our results under our new structure would have been, had it been in place from January 1, 2014. Such information is preliminary in nature and subject to review, evaluation and refinement, has not been audited or reviewed by our independent public accountants and can be expected to change in certain respects before any final re-segmentation is published. In addition, “Illustrative”, “Ambition” and “Goal” presentations are not intended to be viewed as targets or projections, nor are they considered to be Key Performance Indicators.  All such presentations 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 may not achieve the benefits of our strategic initiatives We 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.  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, 2014 and in “Cautionary statement regarding forward-looking information" in our second quarter 2015 Financial Report 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 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 (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 3 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. Leverage amounts for 4Q14, which are presented in order to show meaningful comparative information, are based on estimates which are calculated as if the BIS leverage ratio framework had been implemented in Switzerland at such time. 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.  Selling restrictions This document 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 the SIX Swiss Exchange AG or any other exchange or regulated trading facility in Switzerland or a prospectus 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. A decision to invest in securities of Credit Suisse Group AG should be based exclusively on a written agreement with Credit Suisse Group AG or an offering and listing prospectus to be published by Credit Suisse Group AG for such purpose.  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 U.S. persons (as defined in 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) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”) or (iii) 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.  2  October 21, 2015 

 1) Subject to approval by EGM (EGM: Extraordinary General Meeting) 2) Until we reach our capital target however, we will recommend CHF 0.70 per share with a scrip alternative; we will discontinue the scrip once we have clarity on regulatory requirements and litigation risks. In any event, we will not continue with the scrip beyond 2017  3  Our strategy is to:Be a leading Private Bank and Wealth Manager with strong Investment Banking capabilities and……grow profitably and generate capital through the cycleWe are taking a number of management actions to improve our ability to generate capital internally, includingRight-sizing the Investment Bank, with significant reduction where returns do not exceed cost of capital;A disciplined capital allocation that combines stable capital consumption and improved business profitability;A reduction in our fixed costs;Transitioning non-core assets and implementing closures.To ensure the Group has the strong capital position required to support the implementation of its strategy, we are complementing these actions by raising external capital1) through the combination of a non-preemptive placing of CHF 1.36bn and a rights issue of CHF 4.70bn. Together these actions will result in a pro-forma CET1 ratio of 12.2% and a pro-forma CET1 leverage ratio of 3.6% based on YE2015 targetsAs the strategy is executed, we intend to generate approximately CHF 23-25bn of Operating Free Capital by 2020 of which we intend to distribute at least 40% to shareholders2)We intend to return excess capital to shareholders   October 21, 2015 

 Our organization  4  Note: New management structure effective October 22, 2015 and will be the basis for our reporting in the fourth quarter of 2015 and the 2015 Annual Report, going forward  Chief Executive OfficerTidjane Thiam  Chief Operating OfficerPierre-Olivier Bouée  Chief Finance OfficerDavid Mathers  General CounselRomeo Cerutti  Chief Risk OfficerJoachim Oechslin  HR & CommsPeter Goerke  Chief Compliance & Regulatory OfficerLara Warner  Geographic structure will drive client focus and better align with regulationDecentralization will increase accountability and cost competitivenessMaintain global linkages for Investment Banking and TradingMaterial strengthening of controls and increase centralization of information  Integrated private and investment bank for our APAC domiciled (U)HNW, corporate, and institutional clients  Advisory and underwriting platforms covering the Americas and EMEA  International Wealth ManagementIqbal Khan  Swiss Universal BankThomas Gottstein  AsiaPacificHelman Sitohang  Investment Banking & Capital MarketsJim Amine  Global MarketsTim O’Hara  Sales & trading platforms covering the Americas and EMEA  Universal bank for our Swiss domiciled private clients (retail, WM), commercial and institutional clients (excl. AM services)  Global WM arm serving our non-Swiss and non-APAC domiciled (U)HNW clients, and Global AM business, including Swiss products and clients  October 21, 2015 

 Profitable growth  More than double PTI of Asia Pacific from CHF 0.9bn in 2014 to CHF 2.1bn in 2018Increase PTI in International Wealth Management from CHF 1.3bn in 2014 to CHF 2.1bn in 2018Grow PTI for the Swiss Universal Bank from CHF 1.6bn in 2014 to CHF 2.3bn in 2018Realize CHF 3.5bn in cost reduction by end-2018Invest CHF 1.5bn in growth initiativesLeading overall to an absolute reduction of our cost base by a net CHF 2bn1) to below CHF 19bn, with further potential efficiency gains post-2018  1) Based on 2015 cost base; Cost reduction program measured on constant FX rates and based on expense run rate excluding major litigation expenses in the SRU & restructuring costs, but including other costs to achieve savings.Note: 2018 figures illustrative; Under new structure, new management structure effective October 22, 2015; SRU=Strategic Resolution Unit  5  October 21, 2015 

 Improve our capital position  6  1  Internal capital generationRight-size the Investment BankReallocate capitalReduce fixed costsTransition non-core assets & implement closures  Capital raising  2  October 21, 2015 

       3.5%  0.7%  3.7%  6.5%  PTI/RWAFY 2014  1) Expressed as required capital, calculated as higher of 10% Basel III risk-weighted assets or 3.5% end of 2014 leverage exposure 2) RoC calculated using income after tax, assuming tax rate of 30% and capital allocated on the higher of 10% Basel III risk-weighted assets or 3.5% end of 2014 leverage exposure Note: This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015  Regional view  Functional view  IBD  PS  EqD  Cash  EMG  Credit   SP  Macro  Low  Medium  High  RWA/ Leverage usage,FY2014 (binding constraint1))  Low  High  Return on Capital2), FY2014 (binding constraint1))      Relevant for WM clients        Targeted and rational approach to right-sizing Investment Bank (1/2)  RWA FY2014 (USDbn)    CH  APAC  EMEA  Americas  7  Not earning cost of capital      1  Internal capital generationRight-size the Investment Bank  October 21, 2015 

       Targeted and rational approach to right-sizing Investment Bank(2/2)  -79%  20151)  2Q 2015  2Q 2015  -72%  20151)  1) Expected Note: APAC IB included; Strategic business only; This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015  8  AboveCoC  Belowcost ofcapital(CoC)  2Q 2015  158  126  Prime (USD bn)  Macro (USDbn)  -25%  20151)  2Q 2015  -50%  20151)  2Q 2015  Leverage  RWA  Leverage  RWA      RWA down CHF 20bnLeverage down CHF 87bn  RWA breakdown, in USDbn  YE 2015 target    1  Internal capital generationRight-size the Investment Bank  October 21, 2015 

   Investment Bank: targeted reduction of RWA and Leverage – current structure (incl. APAC)  RWA, USDbn (current structure, strategic)  1) Expected 2) Expressed as required capital, calculated as either 10% of Basel III risk-weighted assets or 3.5% of leverage exposure Note: This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015, strategic only. BIS LVE for leverage exposure  9  Leverage, USDbn (current structure, strategic)  YE20151)  Below CoC  2Q 2015  158  Above CoC   118  491  Above CoC   Below CoC   2Q 2015  YE20151)  635  -63%  -16%  -42%  -13%  RoC2) (%)  ~19%  ~15%  ~13%  ~10%    1  Internal capital generationRight-size the Investment Bank  Includes APAC IB  Includes APAC IB  October 21, 2015 

   Planned RWA reduction at Investment Bank optimizes PTI/RWA arbitrage  10  PTI/RWA at YE2015 pro forma Index, (Pre-optimization=100)  Maximumcapital release  Current plan  Pre-optimization    Note: Excl. Asia and IBD CH. All numbers based on FYFC 2015 as of 30.09.2015; Source: Credit Suisse data  Reduction in RWAvs Pre-optimizationUSD bn  -40  -68    1  Internal capital generationRight-size the Investment Bank  October 21, 2015 

   11  1) Expected 2) Illustrative 3) Pre-regulatory change; Post-regulatory change RWA would amount to USD 174bn of which USD 142bn is IB core 4) Strategic Resolution Unit Note: New management structure effective October 22, 2015    IBCM & GM core    SRU RWA excl. Ops Risk4)  IB (IBCM & GM) RWA and Leverage expected to remainstable after restructuring – new structure  IB (IBCM & GM) RWAUSDbn (new structure, incl. SRU)  IB (IBCM & GM) LeverageUSDbn (new structure, incl. SRU)    IBCM & GM Core    SRU4)    1  Internal capital generationRight-size the Investment Bank    SRU Ops Risk RWA4)  20202)3)  134  7  20182)  136  YE20151)  154  20202)  430  35  20182)  436  YE20151)  554  Excludes APAC IB  Excludes APAC IB  October 21, 2015 

   Improving return on capital – Swiss Universal Bank  1) Expressed as required capital, calculated as higher of 10% Basel III risk-weighted assets or 3.5% end of year leverage exposure 2) Illustrative 3) Target 4) Any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG 5) Legal entity Credit Suisse (Schweiz) AG Note: New management structure effective October 22, 2015  12  PTI(CHF bn)  RoC1)(%)  1.6  2.33)  2014  2018  Transparency and market disciplineAttractive, stable earnings stream to investorsValue of Swiss franchise highlightedIncentive alignment for management of Swiss Universal Bank5)Currency to take advantage of potential market consolidation  IPO4) of Swiss Universal Bank5) expected to support the delivery of growth and profitability    1  Internal capital generationReallocate capital    13%  17%2)    October 21, 2015 

   Improving return on capital and capital allocation  20184)  20153)  26%  27%  20184)  20153)  24%  33%  20184)  20153)  11%  19%  APAC  IWM  Investment Bank (IBCM and GM)  % of RWA allocated2)  11%  18%  37%  17%  17%  44%  RoC1)  1) RoC calculated using income after tax, assuming tax rate of 30% and capital allocated on the higher of 10% Basel III risk-weighted assets or 3.5% average leverage exposure, based on 9M15 Annualized 2) Excluding Corporate Center and SRU 3) Expected 4) Illustrative Note: New management structure effective October 22, 2015; IBCM=Investment Banking and Capital Markets; GM=Global MarketsNote: Numbers not adding up due to rounding    1  Internal capital generationReallocate capital  13  20184)  20153)  13%  17%  Swiss Universal Bank  28%  28%  October 21, 2015 

   1) Expected; 2) Includes LE program, IT architecture simplification, other corporate center programs and realignment costsNote: Cost reduction program measured on constant FX rates and based on expense run rate excluding major litigation expenses in the SRU & restructuring costs, but including other costs to achieve savings; New management structure effective October 22, 2015  Reducing fixed costs while investing in growthIn CHFbn  14              2018cost base target  18.5-19.0  Invest in growth  +1.5  Business exits & run-down of additional SRU portfolio  -1.3  Workforce strategy, technology & London right-sizing  -0.9  Wind-down of Corp. Center costs  -0.1  Run-down of SRU portfolio(planned run-down of prior NSU)  -0.3  Substantial completion of Corp. Center programs2)  -0.9  2015cost base1)  20.5-21.0    CHF -1.2bnpreviously planned cost reduction    CHF -2.3bnadditional cost reduction    1  Internal capital generationReduce fixed costs  CHF +1.5bnInvestment in growth   October 21, 2015 

   The Group is expected to deliver profitable growth …  15  Illustrative pre-tax income progression, CHFbn  Return onTangible Equity  C/I ratio1)  10%  ~14%  9%  79%  ~66%  81%  ~+5pp  ~(15)pp      2014  Illustrative 2018  9M15    1) Expected, excludes impact of FVoD and certain litigation provisions as disclosed in our Financial Report and assumes a tax rate of 30% for return on tangible equity 2) Includes Corporate Center Note: 2014 and 9M15 reflects Core results; New management structure effective October 22, 2015  ~9 – 10  Illustrative 2018  Strategic Resolution Unit (SRU) wind-down (revenue loss)  -0.8  Gross cost savings  Growth investment  -1.5  Target growth to 2018  3.0-4.0  Full year 2015 pre-tax income1)  4.5  1.1  APAC  Swiss Universal Bank  Other divisions2)  9M15  Ann.  October 21, 2015 

 … and return capital to shareholdersIllustrative 4Q2015 to 2020, in CHFbn  1) Capital impact from targeted IPO of Credit Suisse (Schweiz) AG as well as disposal of non-core assets, does not include material capital impact / benefit from cost savings and exposure reductions; any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG 2) Free Capital generated 3) Including impact on capital applying RWA floors at 60% 4) Net of costs and including relating threshold impact for deferred tax assets; subject to approval by EGM (EGM: Extraordinary General Meeting) 5) Until we reach our capital target however, we will recommend CHF 0.70 per share with a scrip alternative; we will discontinue the scrip once we have clarity on regulatory requirements and litigation risks. In any event, we will not continue with the scrip beyond 2017 Note: Under the free capital generation concept, capital is calculated using 10% to convert RWA into capital and 3.5% for leverage exposure due to the anticipated TBTF requirement of 3.5% CET1 leverage ratio and 10% CET1 requirement; New management structure effective October 22, 2015  IPO & disposals1)  CapitalRaise  Capital raise plus IPO & disposals  Targeted Operating FCG2)4Q15 to ‘20  Free Capital Generated  Business moves & Asset disposals  Regulatory and Capital Requirements  FCG after businessmoves &reg. req.  Cash dividends accrued5)  NetFCG2)  OtherIssuances  16    2-4    6.54)    9-11  23-25    33-35    (1)    (7)3)      25-27  ~(11)  14-16        0.5    At least 40% of Operating Free Capital generated planned to be returned to shareholders  October 21, 2015 

 Our 3Q15 results further emphasize the need for change  Progress on capital  “Look-through” Swiss Total Leverage ratio of 4.5%, of which BIS Tier 1 leverage ratio of 3.9% and CET1 leverage ratio of 2.8%“Look-through” CET1 capital slightly down QoQ to 10.2%  Asia Pacific  48% year-to-date increase in overall pre-tax income to CHF 1,129mnWealth Management with YoY double-digit growth in NNA in 3Q15 and 9M159M15 Investment Banking revenues increase of 15%, driven by equities  Reduce exposure to volatile IB and tilt towards stable, high-return businesses  Build a strong capital position  Accelerate growth by focusing on UHNWI in other EM  APAC key opportunity    Private Banking & Wealth Management  Strategic pre-tax income of CHF 753mn with RoC of 20%, impacted by weaker client activity and adverse market conditionsStrong strategic NNA of CHF 17.3bn of which CHF 10.5bn from WMC with growth across all regions    Strategic pre-tax income of USD 291mn significantly lower QoQ and YoY, primarily due to lower fixed income results driven by muted client activityReduction in leverage exposure to USD 615 bn; early achievement of USD 600-620 bn year-end target  Investment Banking      Implications for strategy  Credit Suisse Group  Group pre-tax income (excluding revenue impact from fair value on own debt) of CHF 238mn. Group Strategic pre-tax income for the quarter of CHF 826mn, a 49% decrease from 3Q149M15 return on equity of 9%, of which 11% for the Strategic business    Drive capital allocation to high return businesses with cost discipline  Note: This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015  17  October 21, 2015 

   18  A set of objectives to measure progress  Key Metrics, in bn, in CHF unless otherwise specified  2018 target    Capital  SRU RWA wind-down (ex. OpRisk)Global Markets RWAGlobal Markets Leverage  421) USD ~83-85 (target)USD ~380 (target)  12USD ~83-85USD ~370  1) Number corresponds to the starting point of SRU as it is being established 2) Until we reach our capital target however, we will recommend CHF 0.70 per share with a scrip alternative; we will discontinue the scrip once we have clarity on regulatory requirements and litigation risks. In any event, we will not continue with the scrip beyond 2017 3) After regulatory recalibration in 2019 Note: All metrics on the side based on new organizational structure, new management structure effective October 22, 2015 APAC=Asia-Pacific IWM=International Wealth Management CHUB=Swiss Universal Bank  2014  2015    Profitable growth  APAC PTIIWM PTICHUB PTIGroup Cost base  2.12.12.318.5-19.0  0.91.31.6  2018 target  CHF 23bn to 25bn of Operating Free Capital generated (FCG) over 5 yearsAt least 40% of Operating FCG to be distributed to shareholders via dividends over the period2)  CET1 capital ratio ~13% until 2018 and >11% thereafter3)CET1 leverage ratio above 3.5%    October 21, 2015 

   19  Time (GMT)  Topic  Speaker  11.00 – 11.05  Welcome  Urs Rohner, Chairman of the Board  11.05 – 12.00  Overview & Summary  Tidjane Thiam, Chief Executive Officer  12.00 – 13.00  Financials & Capital (incl. 3Q15 results)  David Mathers   13.00 – 14.00   Lunch    14.00 – 14.30  Swiss Universal Bank  Thomas Gottstein  14.30 – 15.10  Asia Pacific  Helman Sitohang  15.10 – 15.40  International Wealth Management  Iqbal Khan  15.40 – 16.20  Coffee break    16.20 – 16.40  Global Markets  Tim O’Hara  16.40 – 17.00  Investment Banking & Capital Markets  Jim Amine  17.00 – 19.30  Q&A session  All  Agenda for the day  October 21, 2015 

 Agenda for today  Credit Suisse Strategy  Capital position  1  2  20  October 21, 2015 

 Our ambition is to be a leading Private Bank and Wealth Manager with strong Investment Banking capabilities  Capture the Wealth Management opportunity in Emerging Markets by accelerating growth in Asia Pacific and by replicating our successful model in other Emerging Markets  APAC and other EM  SwissUniversal Bank  InvestmentBank  Create a Swiss Universal Bank to expand our position with Swiss private, corporate and institutional clients and participate in domestic consolidation opportunities  Right-size the Investment Bank to optimize its profitability and capital usage, reduce volatility of earnings and support Wealth Management customer needs  21  October 21, 2015 

   31  94  2019  2014  63  Global wealth is expected to continue growing  Estimated global wealth development 2014-19, in CHFtr  Source: BCG Global Wealth Report 2015. UHNW and HNW individual’s wealth, excl. pension and insurance HNWI=USD1-20mm wealth, UHNWI>USD20mm wealth  22  October 21, 2015 

   Emerging Markets expected to drive ~60% of wealth increaseby 2019  Estimated global wealth development 2014-19, in CHFtr  Source: BCG Global Wealth Report 2015. UHNW and HNW individual’s wealth, excl. pension and insurance HNWI=USD1-20mm wealth, UHNWI>USD20mm wealth Note: Numbers not adding up due to rounding  2014  94  2019  31  63  Mature Markets  EmergingMarkets    47%    53%    60%    40%    39%    61%  23  October 21, 2015 

                                                                     Growth in Emerging Market wealth expected to mostly come from “new wealth”  Source: BCG Global Wealth Report 2015  Estimated wealth development in Emerging Markets 2014-19 – new wealth vs. existing wealth, in CHFtr  1.2  45%  55%      Existing wealth  New wealth  Latin America  20%  3.1  80%  EEMEA  34%  14.0  66%  Asia Pacific    24  October 21, 2015 

       LatAm    Asia1)    EEMEA  CS client focus  1) Ex-JapanSource: Credit Suisse Research Institute Note: Numbers not adding up due to rounding  4th  3%  3rd  11%  2nd  27%  1st  57%  5th+  2%  14%  3rd  68%  1st  5th+  9%  2nd  9%  0%  4th  1st  7%  3rd  16%  5th+  12%  5%  2nd  4th  61%  First generation entrepreneurs driving new wealth generation, not only in Asia but also in other Emerging Markets…Generational ownership 1st to 5th generation (in %)  25  October 21, 2015 

   … while ownership profile more balanced in Mature MarketsGenerational ownership 1st to 5th generation (in %)  14%  5th+  3rd  16%  4th  8%  2nd  1st  27%  35%  13%  2nd  1st  5th+  21%  31%  22%  14%  4th  3rd  Western Europe  U.S.   Source: Credit Suisse Research Institute Note: Numbers not adding up due to rounding  26  October 21, 2015 

   In Mature Markets, the US is expected to remain the largest pool of wealth  US, Japan, Western Europe estimated wealth in 2014 and 2019, in CHFtr  WesternEurope  9  Japan  3  US  26  12  3  33  2014  2019        Largest national market: Germany ~CHF 1.4tr  Largest national market: Germany ~CHF 2.3tr  Source: BCG Global Wealth Report 2015. UHNW and HNW individual’s wealth, excl. pension and insurance   27  October 21, 2015 

   Switzerland expected to continue to have the highest average wealth per adult  Source: CS Global Wealth Databook; BCG Global Wealth Report 2015  NorthAmerica  Switzerland  China  LatinAmerica  APAC  Europe(excl. CH)  Wealth per adult – 2014, USDk  3.5  91.2  81.6  53.5  9.1  21.4  Total wealthUSDtr  28  October 21, 2015 

   Despite slower growth, Mature Markets expected to remain important  Source: BCG Global Wealth Report 2015. UHNW and HNW individual’s wealth, excl. pension and insurance HNWI=USD1-20mm wealth, UHNWI>USD20mm wealth Note: Numbers not adding up due to rounding  2019  45%  2017  81  57%  43%  2016  94  53%  47%  2018  87  55%  75  58%  MatureMarkets  2015  70  59%  41%  2014  63  61%  39%  2013  54  66%  34%  2012  46  68%  32%  Emerging Markets  42%  Estimated global wealth in 2012-19, in CHFtr  29  October 21, 2015 

   The Wealth Management opportunity for Credit Suisse      Significant growth in APAC and Other EM    +      Large pool of wealth in Mature Markets  Most attractive long term opportunity for Wealth Management  Switzerland – our home market – providing stability to earningsFocused approach in US & Western Europe given highly competitive environment  Balanced approach  30  October 21, 2015 

 Connection with the WM business  1  Invest where direct support toWealth ManagementProtect business with indirect connectivity  Targeted and rational approachApply three criteria to determine businesses to be right-sized  Right-size the Investment Bank: our approach  Profitability  3  Capital usage  2  Keep any business that delivers returns in excess of cost of capitalAvoid cliff effect when right-sizing  Focus on real binding constraint – ‘worst of RWA or Leverage’ Improve capital productivity  Right-sizing approach  31  October 21, 2015 

   Revenues generated by UHNW clients from using IB products and services  UHNWI needs  CS IB solutions  CS IB Deal revenue mix1)  Financing  Investments  Hedging  Capital markets access  Trading  Share backed lending / Loan syndication  Shares / Funds / Derivatives  Interest rate, FX, Equity / Credit  ECM / DCM / M&A deals  AES / Prime Services for Private Clients  19%  33%  41%  100%  2%  1) Revenue mix of integrated bank revenues where WM clients used episodic IB solutions, based on current reporting structure Note: this slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015  32  2014  October 21, 2015 

   PTI/RWAFY 2014  1) Expressed as required capital, calculated as higher of 10% Basel III risk-weighted assets or 3.5% end of 2014 leverage exposure 2) RoC calculated using income after tax, assuming tax rate of 30% and capital allocated on the higher of 10% Basel III risk-weighted assets or 3.5% end of 2014 leverage exposure Note: This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015, APAC IB included  Regional view  Functional view  Strong IB franchise and returns with exception of EMEA region and Macro / Prime Services business  RWA FY2014 (USDbn)  33  Americas  CH  APAC  EMEA  3.5%  0.7%  3.7%  6.5%      IBD  PS  EqD  Cash  EMG  Credit   SP  Macro  Low  Medium  RWA/ Leverage usage,FY2014 (binding constraint1))  Low  High  Return on Capital2), FY2014 (binding constraint1)      Relevant for WM clients        Not earning cost of capital    High    October 21, 2015 

   Investment Bank: Business profitability and capital allocation  RoC1 FY2014    EQ    FID    IBD                  Capital FY20141  IBD  Credit  EQ Derivatives      SecuritizedProducts  Cash  EMG  Prime  Macro  FY2014 IB profitability and capital usage  1) RoC calculated using income after tax, assuming tax rate of 30% and capital allocated on the higher of 10% Basel III risk-weighted assets or 3.5% end of 2014 leverage exposure Note: This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015, APAC IB included; Represents “fully allocated” view, i.e., IB funding costs, operational risk and Corporate Bank costs have been allocated to individual IB businesses  Avg. ~12.5% RoC1    34  October 21, 2015 

 Right-size the Investment Bank: WM connectivity, capital usage and profitability    Right-sizing focus  1) RoC calculated using income after tax, assuming tax rate of 30% and capital allocated on the highest of 10% Basel III risk-weighted assets or 3.5% end of 2014 leverage exposure Note: This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015  û  û  û  û  ü  ü  ü  ü  ü  ü  ü  ü  ü  ü  ü  ü  Connection with WM  Capital usage (FY2014)  Profitability1) (FY2014)  IBD  Equity Derivatives  Cash Equity  Securitized Products  Credit  Emerging Markets Group    Prime Services  Macro  û  û  ü  û  û  ü  ü  û  Pass  Non-acceptable  û  1  2  3  35  ü  û  October 21, 2015 

   Macro Leverage, in USDbn  2Q15  3Q15  20151)  Right-size the Investment Bank: Macro  Macro RWA, in USDbn    Largely exit in EMEA and APACMaintain core US  -79%  -72%  1) Expected Note: APAC IB included; Strategic business only; This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015  36  October 21, 2015 

   Right-size the Investment Bank: Optimize Prime  2Q15  -25%  Optimize for returns centered around core franchise clients  -50%  Prime Leverage, in USDbn  Prime RWA, in USDbn  3Q15    20151)  1) Expected Note: APAC IB included; Strategic business only; This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015  37  October 21, 2015 

     2014; USDtr  2030; USDtr  CAGR 2014-2030                                                                      2.1  9.8  Corporate Bond Value  5.6  1.5  EquitiesCapitalization  9%  9%  Corporate Bond Value  5.9  0.7  EquitiesCapitalization  18.9  2.7  12%  15%        Corporate Bond Value  42.0  4.8  EquitiesCapitalization  82.4  8.5  15%  15%  •%  1) Only Emerging Markets within APACSource: Credit Suisse Research Institute (Emerging Capital Markets: the road to 2030).  Latin America    EEMEA    APAC1)    Prime is important for the Equity franchise which is a core component of the Emerging Markets opportunity  38  October 21, 2015 

   Right-size the Investment Bank: Optimize Prime  Investment Bank Monthly Net Revenue Volatility1), in USDbn  1) Source: Credit Suisse Internal DataNotes: APAC IB included; This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015  06  07  08  09  10  11  12  13  14  1H’15  2.0  1.2  0.8  0.4  0.0  -0.4  -0.8  -2.4                          IBD  Prime Services  Equities  Fixed Income  39  October 21, 2015 

   Right-size the Investment Bank: Optimize Prime  1) Leverage exposure data is spot period-end 2) 2012-14 RoA calculated using 5-quarter average leverage exposures, 2015 quarterly data is calculated using spot period-end leverage exposure 3) ExpectedNotes: SLR – Swiss Leverage Exposure; BIS – Bank for International Settlements; APAC IB included; This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015  PrimeRoA2)in bps  83  83  94  128  133  2014 SLR  4Q2015 BIS3)  2013 SLR  3Q2015 BIS  2012 SLR  PrimeLeverageExposure1)in USDbn    -47%  Prime Leverage Exposure and Prime Return on Assets  40  October 21, 2015 

   Investment Bank: targeted reduction of RWA and Leverage  RWA, USDbn  1) ExpectedNote: APAC IB included, This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on Oct 21, 2015; Strategic IB business only; BIS LVE for leverage exposure  41  Leverage, USDbn  YE 20151)  Below CoC  2Q 2015  158  Above CoC   118  491  Above CoC   Below CoC   2Q 2015  YE 20151)  635  -63%  -16%  -42%  -13%  October 21, 2015 

   Optimized Investment Bank expected to deliver returns above cost of capital  RWA in CHFbn  1) IB new structure, i.e. excl. APAC IB and SRU positions (SRU – Strategic Resolution Unit) 2) 9M15 PTI annualized 3) RoC calculated using income after tax, assuming tax rate of 30% and capital allocated on the highest of 10% Basel III risk-weighted assets or 3.5% leverage exposure 4) Illustrative Note: New management structure effective October 22, 2015  Return on capital3)  LE in CHFbn  10%2)  19%  PTI in CHFbn  9M15  20184)  92  102  392  369  2.02)  3.5  New Structure: IBCM + Global Markets1)    42  October 21, 2015 

   APAC: Expected to double revenues – from CHF 3.3bn in 2014 to CHF 6.8bn in 2020Net revenues in CHFbn              +13%  20202)  20182)  2014  Context  Strategic Actions  A leading Entrepreneurs’ Bank with sophisticated advisory solutionsTop equities and credit franchises with disciplined risk management  Focus on billionaires, next generation and lower tier entrepreneursGrow credit via bespoke lending solutionsExpand RM base; drive RM productivity through digitalizationReplicate success of Integrated Bank approach in SEA1)Expand footprint in Greater China (China onshore, scaling up China offshore, Taiwan)Address Japan savings opportunity with integrated solutions   RevenueCAGR  1) SEA=South-East Asia 2) Illustrative Note: New management structure effective October 22, 2015  43  October 21, 2015 

   APAC: Profitable growthPTI in CHFbn  44  >2x  20201)  2018Target  2014  Over the period of 2011 to 2014:RM growth +21% AuM growth +70% WMC APAC PTI 4x  1) IllustrativeNote: New management structure effective October 22, 2015  October 21, 2015 

   IWM: Replicate our success in Asia Pacific in other Emerging MarketsNet revenues in CHFbn              +7%  20205)  20185)  2014  1) Euromoney Magazine Survey 2015 for 'Best Private Banking Services Overall‘. Ranking does not distinguish between on/off-shore 2) CEE=Central and Eastern Europe 3) MENA=Middle-East and North Africa 4) Lux=Luxembourg5) Illustrative Note: Includes Asset Management division; New management structure effective October 22, 2015  Context  Strategic Actions  Leading market positions1) in EM and DM:#1 in CEE2), #1 in MENA3), #2 in LatAm#3 position in Western Europe  Create dedicated, fully accountable managerial platform for intl. UHNW clientsDouble lending volume by 2020 (15% p.a.)Grow RMs in EM by 5% p.a. Improve joint PB/IB coverageBuild out London, Lux4), CH as hubs and add new spokes / advisory offices in selected locationsDigitize service model for lower wealth bands: new offering focused on clients <5m AuM  45  RevenueCAGR  October 21, 2015 

   IWM: Profitable growthPTI in CHFbn              +13%  20201)  2018 Target  2014  Growth trajectory to benefit from finalization of regularizationTransition sub-scale platforms in Western Europe towards more profitable models  CAGR  46  1) IllustrativeNote: New management structure effective October 22, 2015  October 21, 2015 

   Swiss Universal Bank: Plan to grow revenues to CHF 5.8bn by end-2018 and to CHF 6.4bn by end-2020Net revenues in CHFbn              2014  20204)  +3%  20184)  Context  Strategic Actions  Enhance management focus – reduce impact of double hatting and matrix organizationBuild on Credit Suisse entrepreneurial heritage  Invest in higher return businesses where we can gain share: entrepreneurial UHNWI and HNWI, global solutions for Swiss MNCs1) and small and medium sized SMEs2)Double lending book for UHNWI and increase UHNWI RM’s by 30%Expand entrepreneurs bank / offeringTake advantage of market consolidationTarget a partial 20-30% IPO of the legal entity Credit Suisse (Schweiz) AG3) by the end of 2017  1) MNC=Multi-national Companies 2) SME=Small and Medium sized companies 3) Any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG 4) Illustrative Note: New management structure effective October 22, 2015  47  RevenueCAGR  October 21, 2015 

   Swiss Universal Bank: Profitable growthPTI in CHFbn              +11%  20201)  2018 Target  2014  End-to-end accountability and responsibility over Swiss costs and investmentsIncreased cost efficiency through footprint optimization, automation and operational leverage  CAGR  48  1) IllustrativeNote: New management structure effective October 22, 2015  October 21, 2015 

   The Group is expected to deliver profitable growth …  49  Illustrative pre-tax income progression, CHFbn  Return onTangible Equity  C/I ratio1)  10%  ~14%  9%  79%  ~66%  81%  ~+5pp  ~(15)pp      2014  Illustrative 2018  9M15    1) Expected, excludes impact of FVoD and certain litigation provisions as disclosed in our Financial Report and assumes a tax rate of 30% for return on tangible equity 2) Includes Corporate Center Note: 2014 and 9M15 reflects Core results; New management structure effective October 22, 2015  Gross cost savings  -0.8  Strategic Resolution Unit (SRU) wind-down (revenue loss)  Growth investment  -1.5  Target growth to 2018  3.0-4.0  Full year 2015 pre-tax income1)  4.5  1.1  ~9 – 10  Illustrative 2018  APAC  Swiss Universal Bank  Other divisions2)  9M15  Ann.  October 21, 2015 

 Agenda for today  Credit Suisse Strategy  Capital position  1  2  50  October 21, 2015 

   Our current capital position  Source: company quarterly financial disclosure  Our capital position has impacted our ability to deliver value for our stakeholders:Impacted strategic flexibilityRestricted ability to implement necessary restructuring measuresImpacted the amount of distributions available for shareholders   CS vs. select peer’s CET 1 RWA ratios, Q2 2015  10.3%  10.4%  11.0%  11.1%  11.4%  11.4%  11.7%  12.5%  14.4%    51  October 21, 2015 

 Anticipated regulatory developments highlight need for capital buffer  52    2016  2017  2018  2019  2020  Recalibrated leverage ratio likely to be primary capital constraint until 2019, however…   …RWA uplift resulting from capital floors above 60% will drive the binding constraint1) from the start of 2019  Final rules for advanced models expected by 2016  The impact of FRTB will primarily affect market risk assets in investment banking and is estimated at ~50bps2)Our initial estimate of the incremental impact of a floor against revised standard models is 25-100bps2) if the floor is set at 60%, and 100-250bps2) if the floor is set at 70%. The impact of a floor will affect both market and credit risks across both investment banking and private banking assets. These estimates are inherently uncertain given that implementation is expected several years in the future  CS targeting ~13% CET1 capital ratio by the end of 2018  Leverage ratio recalibration  RWA uplift  TBTF rules effective from January 1st, 2019Implied minimum CET1 capital of CHF 35bn required, and minimum Tier 1 capital of CHF 50bn   1) The binding constraint is determined as the worse of 3.5% of leverage exposure and 10% of RWA due to the anticipated TBTF requirement of 3.5% CET 1 leverage ratio and 10% CET 1 requirement 2) Reflects post-mitigation estimates of current expectations Note: New management structure effective October 22, 2015; Future numbers expected / illustrative  CET1 capital ratio targeted to remain at ~11% afterimplementation of rules  Standardized Approach to counterparty Credit Risk rules effective from January 1st, 2017; minimal impact expected    Final Swiss TBTF rules expected imminentlySwiss TBTF rules anticipated to require 5% Tier 1 leverage ratio, and 3.5% CET1 leverage ratio  CS targeting 5-6% Tier 1 leverage ratio by end 2017, of which 3.5-4.0% is expected to be met through common equity   October 21, 2015 

 Improve our capital position  53  1  Internal capital generationRight-size the Investment BankReallocate capitalReduce fixed costsTransition non-core assets & implement closures  Capital raising  2  October 21, 2015 

   Evolution of Credit Suisse Group operating expenses, in CHFbn  In spite of our efforts, our total cost base has not significantly decreased in absolute terms  2013  2011  2010  2012  2014  54    1  Internal capital generationReduce fixed costs  Note: This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015  October 21, 2015 

   Shared Services workforce increased by 6,000 FTE from 2011 to 2014 as growth in offshoring was not fully reflected in headcount reduction in the main operating centers  Workforce outside CoEs2)  Evolution of the Shared Services1) workforce (Employees & Contractors), in FTE  1) Includes all ShS (IT, Finance, Ops, Risk, GC, CRES, TB&C and non-Core ShS) 2) Includes employees, contractors, and outsourced workforce; Centers of Excellences include India, Wroclaw and Raleigh Note: This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015  Workforce at CoEs2)  34,800  2011  33,600  +6%  2014  39,500  35,000  2013  2012  55  CAGR    1  Internal capital generationReduce fixed costs  October 21, 2015 

   1) Expected; 2) Includes LE program, IT architecture simplification, other corporate center programs and realignment costsNote: Cost reduction program measured on constant FX rates and based on expense run rate excluding major litigation expenses in the SRU & restructuring costs, but including other costs to achieve savings; New management structure effective October 22, 2015  CHF 3.5bn in gross savings which, combined with the planned investments, is expected to lead to an absolute reduction in the cost base by a net CHF2bn to CHF19bn by end-2018  56              Invest in growth  18.5-19.0  2018cost base target  +1.5  Business exits & run-down of additional SRU portfolio  -1.3  -0.9  Workforce strategy, technology & London right-sizing  -0.3  Run-down of SRU portfolio(planned run-down of prior NSU)  -0.1  Wind-down of Corp. Center costs  Substantial completion of Corp. Center programs2)  -0.9  2015cost base1)  20.5-21.0    CHF -1.2bnpreviously planned cost reduction    CHF -2.3bnadditional cost reduction    1  Internal capital generationReduce fixed costs  CHF +1.5bninvestmentin growth  Further cost savings intended beyond 2018  October 21, 2015 

   Basel 3 RWA, in CHFbn  Leverage Exposure in, in CHFbn  Strategic Resolution Unit RWA and leverage exposurewind-down profile  1) Does not reflect impacts from methodology changes Note: New management structure effective October 22, 2015; Future numbers expected / illustrative; Regulatory (FINMA) approval required for any ops risk reduction  1)  1)  57  3Q 2015  60  33  2016  41  25  2019  27  2018  30  2017  2020      Ops. Risk RWA  RWA excl. Ops. Risk  2020  2019  2018  2017  2016  3Q 2015    (78%)    (74%)    (83%)    (71%)  (excl. Ops Risk)  (excl. Ops Risk)    1  Internal capital generationTransition non-core assets  October 21, 2015 

   Our current US Private Banking operation did not meet sufficient profitability and return criteria  US Wealth Management market attractive, but requires appropriate business modelBrokerage model challenged as it requires scale and value accrues to brokers, not shareholders    Decision taken to transition CS PB USNew coverage model focused on UHNWI to be introduced that integrates investment banking coverage and WM services  Challenged CS PB US position despite improvements  Cost / Income ratio (1H 2015)  Assets under Management (USDtr, 1H2015)    PB US  Source: Company public disclosures 1) FYFC as of May 2015 Note: This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015  Bubble size reflects AuM  WM Americas  58  Approx. average non-US CS IWM CIR1)    1  Internal capital generationTransition non-core assets  October 21, 2015 

 Streamlining Western Europe Footprint  This will help to adjust our service model to client proposition  Consolidate Booking Centers  Develop Hub and Spoke Model  Move Towards Advisory Office Model   This is expected to deliver CHF 50-60mn annual cost reduction from booking center consolidation alone  This will be achieved without impacting client service  59      1  Internal capital generationImplement closures  October 21, 2015 

 We intend to execute a partial IPO2) (20 to 30% stake) of the Swiss Universal Bank1) by end of 2017  Partial IPO of Swiss Universal Bank1)  Attractive, stable earnings stream to Swiss and international investorsValue of Swiss franchise highlightedTransparency and market discipline to support the delivery of profit growthIncentive alignment for management of legal entity Swiss Universal Bank1)Currency to take advantage of potential consolidation in the Swiss Private Banking marketControl retained by Credit Suisse Group  1) Legal entity Credit Suisse (Schweiz) AG2) Any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG   60    1  Internal capital generationReallocate capital  October 21, 2015 

 Improve our capital position  61  1  Internal capital generationRight-size the Investment BankReallocate capitalReduce fixed costsTransition non-core assets & implement closures  Capital raising  2  October 21, 2015 

 We have announced a CHF 4.70bn rights issue supplemented by a CHF 1.36bn non-preemptive placing  Announced a non-preemptive placing of CHF 1.36bn to institutional investorsFirmly underwritten rights issue of CHF 4.70bn Total capital raise of CHF 6.0bn1)  62  Size  Timing  EGM approval 19th November with rights trading thereafter    2  Capital raising  1) Net of expenses Note: Subject to approval by EGM (EGM: Extraordinary General Meeting)   October 21, 2015 

 1) Capital impact from targeted IPO of Credit Suisse (Schweiz) AG as well as disposal of non-core assets, does not include material capital impact / benefit from cost savings and exposure reductions; any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG 2) Free Capital generated 3) Including impact on capital applying RWA floors at 60% 4) Net of costs and including relating threshold impact for deferred tax assets; subject to approval by EGM (EGM: Extraordinary General Meeting) 5) Until we reach our capital target however, we will recommend CHF 0.70 per share with a scrip alternative; we will discontinue the scrip once we have clarity on regulatory requirements and litigation risks. In any event, we will not continue with the scrip beyond 2017 Note: Under the free capital generation concept, capital is calculated using 10% to convert RWA into capital and 3.5% for leverage exposure due to the anticipated TBTF requirement of 3.5% CET1 leverage ratio and 10% CET1 requirement; New management structure effective October 22, 2015  IPO & disposals1)  CapitalRaise  Capital raise plus IPO & disposals  Targeted Operating FCG2)4Q15 to ‘20  Free Capital Generated  Business moves & Asset disposals  Regulatory and Capital Requirements  FCG after businessmoves &reg. req.  Cash dividends accrued5)  NetFCG2)  OtherIssuances  63    2-4    6.54)    9-11  23-25    33-35    (1)    (7)3)      25-27  ~(11)  14-16        0.5    At least 40% of Operating Free Capital generated planned to be returned to shareholders  Returning capital to our shareholdersIllustrative 4Q2015 to 2020, in CHFbn  October 21, 2015 

 Profitable Growth  Capture the Wealth Management opportunity in Emerging Markets by accelerating growth in Asia Pacific and by replicating our successful model in other Emerging MarketsCreate a Swiss Universal Bank to expand our position with Swiss private, corporate and institutional clients and participate in domestic consolidation opportunitiesRight-size the Investment Bank to optimize its profitability and capital usage, reduce volatility of earnings and support Wealth Management customer needs  Our Strategy – Profitable growth and capital generation  Capitalgeneration  Deliver ~CHF 23-25bn in Operating Free Capital Generation from 4Q2015 to end-2020, with at least 40% planned to be returned through dividends to shareholders1)  1) Until we reach our capital target however, we will recommend CHF 0.70 per share with a scrip alternative; we will discontinue the scrip once we have clarity on regulatory requirements and litigation risks. In any event, we will not continue with the scrip beyond 2017  64  October 21, 2015 

   65  A set of objectives to measure progress  Key Metrics, in bn, in CHF unless otherwise specified  2018 target    Capital  SRU RWA wind-down (ex. OpRisk)Global Markets RWAGlobal Markets Leverage  421) USD ~83-85 (target)USD ~380 (target)  12USD ~83-85USD ~370  1) Number corresponds to the starting point of SRU as it is being established 2) Until we reach our capital target however, we will recommend CHF 0.70 per share with a scrip alternative; we will discontinue the scrip once we have clarity on regulatory requirements and litigation risks. In any event, we will not continue with the scrip beyond 2017 3) After regulatory recalibration in 2019 Note: All metrics on the side based on new organizational structure, new management structure effective October 22, 2015 APAC=Asia-Pacific IWM=International Wealth Management CHUB=Swiss Universal Bank  2014  2015    Profitable growth  APAC PTIIWM PTICHUB PTIGroup Cost base  2.12.12.318.5-19.0  0.91.31.6  2018 target  CHF 23bn to 25bn of Operating Free Capital generated (FCG) over 5 yearsAt least 40% of Operating FCG to be distributed to shareholders via dividends over the period2)  CET1 capital ratio ~13% until 2018 and >11% thereafter3)CET1 leverage ratio above 3.5%    October 21, 2015 

 In summary  66  This strategy will:Create value for our chosen customersPosition the bank well to deal with an uncertain environmentGenerate capital and reward our shareholders  October 21, 2015 

  

 Appendix  68  October 21, 2015 

     Targeted and rational approach to right-sizing IB RWA breakdown in USDbn  1) Credit complex includes SP and GCP 2) Sourced from Credit Suisse Leveraged Finance Strategy 3) From 2014YE exposures Note: APAC IB included  69  BelowCoC  2Q 2015  158  126  AboveCoC  Securi-tized products & Credit products1)      Lower volatility and concentration risk through reduction of exposures: RWA down by 5% at Q4 20153)Leverage down by 25% at Q4 20153)  2006 2007 2008 2009 2010 2011 2012 2013 2014 2015  US HYSpread2)  Indication of market volatility  Credit Suisse PTI in CP and SP  October 21, 2015 

 October 21, 2015  Credit Suisse StrategyOverview of Financials and CapitalDavid Mathers 

 Disclaimer (1/2)  October 21, 2015  2  The 3Q15 financial information is subject to further review We have not finalized our 3Q15 Financial Report and our independent registered public accounting firm has not completed its review of the condensed consolidated financial statements (unaudited) for the period. Accordingly, the 3Q15 financial information contained in this presentation is subject to completion of quarter-end procedures, which may result in changes to that information. Certain reclassifications have been made to prior periods to conform to the current presentation.The re-segmented financial information is preliminary and subject to further review This presentation contains certain historical financial information that has been re-segmented to approximate what our results under our new structure would have been, had it been in place from January 1, 2014 (“Re-segmented Basis”). Such information is preliminary in nature and subject to review, evaluation and refinement, has not been audited or reviewed by our independent public accountants and can be expected to change in certain respects before any final re-segmentation is published. In addition, “Illustrative”, “Ambition” and “Goal” presentations are not intended to be viewed as targets or projections, nor are they considered to be Key Performance Indicators.  All such presentations 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 may not achieve the benefits of our strategic initiatives We 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.  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, 2014 and in “Cautionary statement regarding forward-looking information" in our second quarter 2015 Financial Report 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. 

 Disclaimer (2/2)  October 21, 2015  3  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 (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 3 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. Leverage amounts for 4Q14, which are presented in order to show meaningful comparative information, are based on estimates which are calculated as if the BIS leverage ratio framework had been implemented in Switzerland at such time. 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.  Selling restrictions This document 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 the SIX Swiss Exchange AG or any other exchange or regulated trading facility in Switzerland or a prospectus 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. A decision to invest in securities of Credit Suisse Group AG should be based exclusively on a written agreement with Credit Suisse Group AG or an offering and listing prospectus to be published by Credit Suisse Group AG for such purpose.  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 U.S. persons (as defined in 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) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”) or (iii) 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. 

 Overview of Financials and Capital  October 21, 2015  4  3Q15 Financial results summary  1  Financial summary under current and new structures  2  Financial metrics for the Group and the new segments  3  Targets for Group capital usage and allocation  4  Free capital generation  5  Capital raise  6  Note: Unless otherwise noted, figures presented in the following section are based on results under our current structure prior to our re-segmentation announcement on October 21, 2015 ("Current Reporting Basis") 

         5  Clear alignment of strategic and financial goals  Strategic goals  Financial goals in CHF bn  Increase the profitability of the stable and high return cash flows in Swiss home market  Optimize resource allocation and focus on high-returning businesses with scale  Increase resource allocation to APAC and other fee generative and growth areas  Achieve CHF 2 bn1 of net cost reductions by end-2018, primarily related to fixed cost base  Strengthen equity capital base with focus on maximizing free capital generation  Swiss home market  Optimize resource allocation  Focus on growth areas and recurring fee generation  Reduce fixed cost base  Strengthen capital base  Group operating cost base  End-2018 capital ratio targets    Swiss Universal Bank Pre-tax income  APAC Pre-tax income  Risk-weighted assets, ex. CC / ShS  3Q15CurrentStructure  133%  ~13%  5 - 6%  October 21, 2015  44%  Strategic IB57%  Strategic PB&WM38%  Non-Strategic5%  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  2 bn  Capital raise  Notes: This slide presents financial information on both a Current Reporting Basis and Re-segmentation Basis. CHUB = Swiss Universal Bank; IWM = International Wealth Management; GM = Global Markets; IBCM = Investment Banking and Capital Markets; APAC = Asia Pacific; SRU = Strategic Resolution Unit; CC = Corporate Center; ShS = Shared Services for this slide and the rest of the presentation  1 Cost reduction program measured on constant FX rates and based on expense run rate excluding major litigation expenses in the SRU & restructuring costs, but including other costs to achieve savings  IBXX%    SRU10%  Swiss UB25%  IWM16%  APAC16%  GM27%  IBCM7%  20.5-21.0  18.5-19.0  2018ENewStructure 

 Key messages from Credit Suisse 3Q15 results  October 21, 2015  6  3Q15 results  Financial summary  Financial targets  Capital targets  APAC3Q15 pre-tax income of CHF 256 mn  9M15 pre-tax income of CHF 1,129 mn with 48% YoY increase, benefitting from continued momentum of our One Bank franchise; 3Q15 pre-tax income of CHF 256 mnWealth Management Clients Asia Pacific with double-digit growth in net new assets in both 3Q15 and 9M159M15 Asia Pacific Investment Banking revenues increase of 15%, driven by robust equities results with 40% YoY revenue growth  Progress on capital  “Look-through” CET1 ratio of 10.2%, down from 10.3% at 2Q15, with RWA increases from model updates and methodology changes“Look-through” Swiss Total Leverage ratio of 4.5%, of which BIS Tier 1 Leverage ratio of 3.9% and CET1 Leverage ratio of 2.8%  Free capital gen.  Credit Suisse Group3Q15 pre-tax income of CHF 861 mn and return on equity of 7%  Group pre-tax income (excluding revenue impact from fair value on own debt) of CHF 238 mn. The significant YoY and QoQ reduction in pre-tax income was driven by lower results in Investment Banking, primarily due to a challenging market environment and lower client activity. Group Strategic pre-tax income for the quarter of CHF 826 mn, a 49% decrease from 3Q149M15 return on equity of 9% (or 6% excluding revenue impact from fair value on own debt); 11% for the Strategic business  Capital raise  Note: Credit Suisse Group reflects Core results; 3Q15 and 9M15 results based on current reporting structure 

 Key messages from Credit Suisse 3Q15 results  October 21, 2015  7  1 Adjusted for Swisscard deconsolidation. See slide 10 in 3Q15 earnings presentation for details 2 3Q15 results include the impact of the USD 133 mn settlement to resolve a lawsuit related to credit-default swaps  Strategic pre-tax income of USD 291 mn significantly lower QoQ and YoY, primarily due to lower fixed income franchise results driven by significantly muted client activity amid challenging market conditions Reduction in leverage exposure to USD 615 bn; early achievement of USD 600-620 bn year-end targetHigher equity sales and trading performance as increased market volatility led to higher client activityUnderwriting and advisory revenues negatively impacted by slowdown in industry-wide issuance; continued share gains in M&A franchise  Investment Banking3Q15 pre-tax income of CHF (125) mn2  Private Banking & Wealth Management3Q15 pre-tax income of CHF 647 mn and return on reg. capital of 16%  Strategic pre-tax income of CHF 753 mn and Strategic return on regulatory capital of 20%, impacted by weaker client activity and adverse market conditionsWealth Management Clients with growth in net interest income and recurring commissions and fees1 since the beginning of 2015; 3Q15 pre-tax income impacted by lower transaction revenues; 9M15 net margin of 28 bps compared to 27 bps for 9M14 Corporate & Institutional Clients delivered solid net revenues with cost income ratio of 50% in 9M15; lower pre-tax income due to increased credit provisionsAsset Management with growth in fee-based revenues since the beginning of 2015; 3Q15 net revenues impacted by investment-related losses due to market conditionsStrong strategic net new assets of CHF 17.3 bn with contribution from all three businesses; Wealth Management Clients reported net new assets of CHF 10.5 bn with growth in all regions and good contribution from UHNWI client segment  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise 

 Results Overview  8  Note: Total Reported reflects Core Results; FVoD denotes Fair Value on own Debt on this slide and throughout the rest of the presentation 1 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) 2 Assumes assets managed across businesses relate to Strategic businesses only 3 Excludes revenue impact from FVoD of CHF 623 mn, CHF 228 mn, CHF 318 mn, CHF 995 mn and CHF 246 mn in 3Q15, 2Q15, 3Q14, 9M15 and 9M14, respectively, and pre-tax charge of CHF 1,618 mn relating to the settlements with US authorities regarding the US cross-border matters in 9M14, in Non-Strategic and total reported results    in CHF mn 3Q15 2Q15 3Q14 9M15 9M14Net revenues 5,623 6,758 6,287 18,971 19,126Pre-tax income 826 1,812 1,622 4,460 5,341Cost / income ratio 84% 73% 73% 76% 72%Return on equity1 7% 14% 11% 11% 13%Net new assets2 in CHF bn 17.3 15.4 8.8 51.1 36.6      Net revenues 5,982 6,941 6,537 19,596 19,439Pre-tax income 861 1,646 1,301 4,045 2,331 Pre-tax income ex FVoD and settlement impact3 238 1,418 983 3,050 3,703Net income attributable to shareholders 779 1,051 1,025 2,884 1,184Diluted earnings per share in CHF 0.45 0.61 0.61 1.69 0.68Return on equity 7% 10% 10% 9% 4% Return on equity ex FVoD and settlement impact3 2% 8% 7% 6% 8%  Net revenues 359 183 250 625 313Pre-tax income / (loss) 35 (166) (321) (415) (3,010) Pre-tax income / (loss) ex FVoD and settlement impact3 (588) (394) (639) (1,410) (1,638)  Strategic  Non-Strategic  Total Reported  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  October 21, 2015 

 Overview of Financials and Capital  October 21, 2015  9  3Q15 Financial results summary  1  Financial summary under current and new structures  2  Financial metrics for the Group and the new segments  3  Targets for Group capital usage and allocation  4  Free capital generation  5  Capital raise  6  Note: Unless otherwise noted, figures presented in the following section are based on what our results under our new structure would have been, had it been in place January 1, 2014 

 October 21, 2015  10  Corporate Center  Strategic Resolution Unit  Separate division of the Group with clear accountability, governance and reporting, established to:Facilitate immediate right-sizing of Investment Banking and focus on rapid wind-down of non-core assets, including those within the current Non-Strategic unitsAchieve these objectives by taking over the exposures that do not fit with the parameters of the right-sized Investment Banking or strategic goals of other business divisionsProvide platform for restructuring of client centric and strategic but capital inefficient businesses  Corporate Center will be presented inclusive of overall costs of shared services, providing transparency of the pre- and post-allocated view of these costsResidual Corporate Center financial results will primarily comprise the central corporate costs, the legal entity program and a modest amount of accounting asymmetry  Restructuring of divisions  Reflecting the new management structure, Credit Suisse’s financial reporting structure will be presented as six reporting segments, including a new Strategic Resolution Unit, with a much simplified Corporate Center  Alignment of financial reporting to new management structure  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  InternationalWealth Management  Investment Banking and Capital Markets  Swiss Universal Bank  Corporate Center  Strategic Resolution Unit  Global Markets  Asia Pacific  Credit Suisse Core results  New management structure effective October 22, 2015 and will be the basis for our reporting in the fourth quarter of 2015 and the 2015 Annual Report, and going forward 

 Overview of changes in structure – Private Banking & Wealth Mgmt.  October 21, 2015  11  PTI: 1,378 mnRWA: 33 bnLev.: 74 bn  PTI: (1,473) mnRWA: 11 bnLev.: 27 bn  Full year 2014 in CHF  PTI: 3,726 mnRWA: 102 bnLev.: 369 bn  PTI: (1,638) mnRWA: 6 bnLev.: 11 bn  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  PTI: 357 mnRWA: 7 bnLev.: 34 bn  PTI: 1,826 mnRWA: 57 bnLev.: 245 bn  Investment Banking  Strategic  Non-Strategic  Private Banking & Wealth Management   Strategic  Non-Strategic  Strategic  Non-Strategic  Corporate Center  InternationalWealth Management  Investment Banking and Capital Markets  Corporate Center  Asia Pacific  Swiss Universal Bank  Strategic Resolution Unit  Global Markets  PTI = Pre-tax income RWA = Risk-weighted Assets Lev. = Swiss Leverage Exposure 

 Overview of changes in structure – Investment Banking  October 21, 2015  12  PTI: 2,795 mnRWA: 75 bnLev.: 479 bn  PTI: 661 mnRWA: 14 bnLev.: 97 bn  PTI: (2,231) mnRWA: 55 bnLev.: 166 bn  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  PTI: 559 mnRWA: 16 bnLev.: 41 bn  Investment Banking  Strategic  Non-Strategic  Private Banking & Wealth Management   Strategic  Non-Strategic  Strategic  Non-Strategic  Corporate Center  PTI: 3,744 mnRWA: 150 bnLev.: 722 bn  PTI: (1,914) mnRWA: 10 bnLev.: 64 bn  InternationalWealth Management  Investment Banking and Capital Markets  Corporate Center  Asia Pacific  Swiss Universal Bank  Global Markets  Full year 2014 in CHF  Strategic Resolution Unit  PTI = Pre-tax income RWA = Risk-weighted Assets Lev. = Swiss Leverage Exposure  PTI: 46 mnRWA: 1 bnLev.: 3 bn 

 Overview of changes in structure – Corporate Center  October 21, 2015  13  InternationalWealth Management  Investment Banking and Capital Markets  Corporate Center  Asia Pacific  PTI: (105) mnRWA: -Lev.: -  PTI: (419) mnRWA: -Lev.: -  PTI: 44 mn1RWA: 16 bnLev.: 32 bn  PTI: (251) mnRWA: -Lev.: -  PTI: (78) mnRWA: -Lev.: -  PTI: 167 mnRWA: -Lev.: -  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  Swiss Universal Bank  Strategic Resolution Unit  Global Markets  PTI: (44) mnRWA: -Lev.: -  Investment Banking  Strategic  Non-Strategic  Private Banking & Wealth Management   Strategic  Non-Strategic  Strategic  Non-Strategic  Corporate Center  PTI = Pre-tax income RWA = Risk-weighted Assets Lev. = Swiss Leverage Exposure 1 Includes impact from FVoD of CHF 543 mn  Full year 2014 in CHF  PTI: (680) mnRWA: 16 bnLev.: 32 bn  PTI: (6) mn1RWA: -Lev.: - 

 Financial summary under new structure  October 21, 2015  14  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise                                                            SwissUniversal Bank  Pre-tax Income/ (Loss)  2014  1.6  -  o/w Non-Strat.litigations  Basel 3 RWA  LeverageExposure3  In CHF bn  InternationalWM  Global Markets  Asia Pacific  Strategic Resolution Unit  Corporate Center  Credit Suisse Group1  2014  1.3  -  2014  2.4  -  2014  0.9  -  2014  (3.1)  (2.4)  2014  0.0  -  2014  3.6  (2.4)  13  “Worst of” RoC / RoE (%)2  58  33  75  22  66  16  284  248  74  479  131  194  32  1,198  27  10  14  4  Credit Suisse Core results    2014  13  Credit Suisse Core  6.8  -  219  1,005        1 The difference between Credit Suisse Core results (under current structure) and Credit Suisse Group results (under new structure) includes certain entities in which we had no significant economic interest in the unit 2 Division and Credit Suisse Core RoC (return on regulatory capital) is the worst of return on 10% of spot RWA and return on 3.5% of spot Swiss leverage exposure; assumes tax rate of 30% in 2014. RoE (return on equity) calculated for Credit Suisse Group 3 Swiss leverage exposure  0.5  (0.5)      CC excl. FVoD  FVoD  Notes: On this slide and for the rest of the presentation, “worst of” return on capital / equity is based on capital calculated with the binding constraint determined by the worse of 3.5% of leverage exposure and 10% of RWA due to the anticipated TBTF requirement of 3.5% CET1 leverage ratio and 10% CET1 requirement          IBCM  2014  0.5  -  16  41  23 

 Overview of Financials and Capital  October 21, 2015  15  3Q15 Financial results summary  1  Financial summary under current and new structures  2  Financial metrics for the Group and the new segments  3  Targets for Group capital usage and allocation  4  Free capital generation  5  Capital raise  6  Note: Unless otherwise noted, figures presented in the following section are based on what our results under our new structure would have been, had it been in place January 1, 2014 

         16  Clear alignment of strategic and financial goals  Strategic goals  Financial goals in CHF bn  Increase the profitability of the stable and high return cash flows in Swiss home market  Optimize resource allocation and focus on high-returning businesses with scale  Increase resource allocation to APAC and other fee generative and growth areas  Achieve CHF 2 bn1 of net cost reductions by end-2018, primarily related to fixed cost base  Strengthen equity capital base with focus on maximizing free capital generation  Swiss home market  Optimize resource allocation  Focus on growth areas and recurring fee generation  Reduce fixed cost base  Strengthen capital base  Group operating cost base  End-2018 capital ratio targets    Swiss Universal Bank Pre-tax income  APAC Pre-tax income  Risk-weighted assets, ex. CC / ShS  3Q15CurrentStructure    133%  5 - 6%  October 21, 2015  44%  Strategic IB57%  Strategic PB&WM38%  Non-Strategic5%  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  2 bn  Capital raise  1 Cost reduction program measured on constant FX rates and based on expense run rate excluding major litigation expenses in the SRU & restructuring costs, but including other costs to achieve savings  IBXX%    SRU10%  CHUB25%  IWM16%  APAC16%  GM27%  IBCM7%  ~13%  2018ENewStructure 

 October 21, 2015  17  CHF 2 bn net cost savings target expected to reduce absolute cost base to between CHF 18.5 and 19 bn by end-2018  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise    2015 – 2020 Cost reduction program in CHF bn, year-end targets  ~20.5 - 21.0    TargetCHF 3.5 bn of gross savings by end 2018    Further net savings targeted 2018+  2015E  2018target  2020target    Reduction of fixed cost base to a lower “break even point” to profitability and reduce earnings volatilityCHF 2.0 bn net savings target includes:CHF (3.5) bn of gross cost savingsPlanned CHF 1.5 bn of investments to facilitate divisional growth initiatives, of which 60% targeted for Asia Pacific and the remainder to our Swiss Universal Bank and International Wealth ManagementFurther net savings targeted beyond 2018, driven by efficiencies from IT digitalization and shared use of utilities    GrossSavings  GrowthInvestments  Note: Cost reduction program measured on constant FX rates and based on expense run rate excluding major litigation expenses in the SRU & restructuring costs, but including other costs to achieve savings    2015E    (1.3)bn: Business exits & run-down of SRU portfolio(0.9)bn: workforce strategy, technology & London right-sizing(0.1)bn: additional wind-down of Corporate Center costs+1.5bn: divisional growth investments    (0.9)bn: substantial completion of Corp. Center programs (i.e., legal entity program, IT architecture simplification, etc.) (0.3)bn: run-down of SRU portfolio (planned run-down of prior Non-Strategic Unit)  Previously PlannedCost Reductions    TargetCHF 2.0 bn of net savings by end 2018 

 October 21, 2015  18  Restructuring our Bank  2.0 – 2.5    Estimated Restructuring Costs in CHF bn  0.6  0.6  0.1  Restructuring Costs: CHF 1.3 bn  Workforce strategy, including Support Governance  London Initiative  Business exits and reductions  1.3  Restructuring costs progression in CHF bn  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  Going forward a multi-wave restructuring program will be established Related restructuring costs will be provided in our quarterly disclosures and will be carried by the respective divisions  2016 - 2018    Infrastructure efficiency programs (e.g. Architecture Simp., Front to Back Program)  2016  2017  2018 

 October 21, 2015  19  Further expected impacts of implementing our strategy  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  Further to the costs related to the restructuring program, Credit Suisse expects to incur additional non-recurring costs in the coming quarters. These are likely to be reflected over the next 18 months with 2016 earnings in particular be adversely impacted  At end 3Q15, Credit Suisse carried CHF 8.7 bn of goodwill, of which CHF 6.3 bn is carried by the Investment Banking division. A significant strategic review and group re-segmentation is a triggering event for assessing whether there will be goodwill impairment. Our expectation is that goodwill currently carried by the Investment Banking division is likely to be impaired. Such an impairment would impact the Group, Global Markets as well as Investment Banking and Capital Markets divisional pre-tax income in 4Q15 but would not impact the CET1 ratios on a “look-through” basis or Return on Tangible Equity  We will seek to redeem remaining capital instruments that were effective under Basel II but not under the subsequent regimes. This could result in additional negative pre-tax income impact of ~CHF 0.6 bn on redemption, but this is expected to be offset by savings in funding costs going forward. These impacts would be included in our Strategic Resolution Unit   In addition to the CHF 1.3 bn of total restructuring charges from 2016 to 2018, additional Costs-to-Achieve (CtA) of CHF 0.7 bn to CHF 1.2 bn are expected to be incurred in the same period. The additional CtA relate to investments needed to drive permanent cost savings which do not meet the accounting definition of restructuringBoth restructuring costs and the additional CtA amounts will be allocated to the respective divisions  Incremental Cost-to-Achieve  Restructuring impact on goodwill  Capital instrument redemption 

 October 21, 2015  20  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  New strategy with growth and cost initiatives leading to illustrative return on tangible equity of ~14% and cost-income ratio of ~66%    9M15  Ann.  Tangible equity: 9M15 – illustrative 2018 in CHF bn  351  ~504  Includes expected CHF 6 bn capital raise, CS Legal Entity Switzerland minority IPO3, other divestitures, and retained equity from various initiatives  Illustrative pre-tax income progression in CHF bn  Return onTangible Equity1  Cost/income ratio1  10%  14%  9%  79%  66%  81%  ~+5pp  ~(15)pp      2014  Illustrative 2018  9M15    4.5  (1.5)  APAC  ~9-10  Swiss Universal Bank  ~3.0-4.0  IBCM = Investment Banking and Capital Markets 1 Excludes impact from FVoD and certain litigation items 2 Includes Corporate Center 3 Any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG 4 Refer to slide 35 for illustrative 2018 CET1 capital build  IWM  1  (0.8)  Impact of cost initiatives  Impact of revenue & growth initiatives  Other divisions2 

 October 21, 2015  21  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise    RWA  Leverage Exposure  Illustrative pre-tax income progression in CHF bn  (in CHF bn)  (in CHF bn)  2014  Retail  HNWI/UHNWI  Entrepreneurs, SMEs,Corporates  Operating model optimization  Target 2018E  Initiatives  58  ~75  248  ~275  Expected further strengthening of home market through leveraging synergies and participating in consolidation  Strengthened expected returns from growth plan in Swiss home base     Return on Capital1      Cost/income ratio  13%  17%  68%  56%  2014  Illustrative 2018  ~+4pp  ~(12)pp  HNWI = High Net Worth Individuals; UHNWI = Ultra High Net Worth Individuals; SMEs = Small and medium enterprises  1 Worst of return on 10% of RWA and return on 3.5% of spot Swiss leverage exposure; assumes tax rate of 30% for all periods 

 October 21, 2015  22  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise    RWA  Leverage Exposure  Illustrative pre-tax income progression in CHF bn  (in CHF bn)  (in CHF bn)  2014  Target 2018E  Initiatives  33  ~45  74  ~90  Benefitting from emerging markets outside Asia Pacific  Emerging markets growth to further drive IWM returns expansion    Return on Capital1      Cost/income ratio  27%  33%  73%  64%  2014  Illustrative 2018  ~+6pp  ~(9)pp  Lending initiative  Hubs expansion  Accelerated One Bank benefits  Emerging markets expansion  1 Worst of return on 10% of RWA and return on 3.5% of spot Swiss leverage exposure; assumes tax rate of 30% for all periods 

 Continued investment in APAC expected to further drive profitable growth  October 21, 2015  23      RWA  Leverage Exposure  Return on Capital1  Illustrative pre-tax income progression in CHF bn  (in CHF bn)  (in CHF bn)  Cost/income ratio  2014  Client coverage and distribution  Footprint/geography  Product  Operating model optimization  Target 2018E  22  ~45  131  ~165  14%  27%  70%  60%  Continued investment in growth to drive returns  ~+13pp  ~(10)pp      2014  Illustrative 2018  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  1 Worst of return on 10% of RWA and return on 3.5% of spot Swiss leverage exposure; assumes tax rate of 30% for all periods  Initiatives 

 October 21, 2015  24  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  Optimized Global Markets division expected to deliver returns well above cost of capital    RWA  Leverage Exposure  Illustrative pre-tax income progression in USD bn  1 Worst of return on 10% of average RWA and return on 3.5% of average leverage exposure; assumes tax rate of 30% for all periods 2 Pre-tax income 9M15 annualized 3 Includes savings from programs and realignment expense previously reflected in the Corporate Center  (in USD bn)  (in USD bn)  Full year 2015 pre-tax income2  Target 2018E  76  83 – 85   376  ~370  Global Markets to operate with a capital base close to current levels while still producing higher returns primarily from cost savings  Net savings3  Growth    Return on Capital1      Cost/income ratio  10%  16%  77%  67%  9M15  Illustrative 2018  ~+6pp  ~(10)pp  2.9 

   October 21, 2015  25  3Q15 results  Financial summary  Capital targets  Free capital gen.  Capital raise  Growth initiatives to improve both cost and return profiles for the new IBCM  RWA  Leverage Exposure  Illustrative pre-tax income progression in USD bn  1 Worst of return on 10% of average RWA and return on 3.5% of average leverage exposure; assumes tax rate of 30% for all periods 2 Pre-tax income 9M15 annualized  (in USD bn)  (in USD bn)  Full year 2015 pre-tax income2  Target 2018E  19  ~20  34  ~35  Leverage strength of the Sponsors franchise across all regions and products    Return on Capital1      Cost/income ratio  5%  28%  92%  68%  9M15  Illustrative 2018  ~+23pp  ~(24)pp  0.1  Financial targets  Investment needed for growth  (0.3)  Growth  +1.1  0.9 

 October 21, 2015  26    Strategic Resolution unit established to facilitate rapid wind-down and reduce drag on overall Group performance    Illustrative pre-tax income progression in CHF mn  2014 pre-tax loss  Fundingcosts  Servicescosts  Remaining pre-tax drag in 2018  Directcosts  Business revenues and gains on sale  RWA excl. op. risk  Leverage Exposure1  (in CHF bn)  48  194  42  146  9M15 pre-tax loss (annualized)  Funding costs expected to decrease by 2018 from the wind-down of legacy non-Basel III compliant capital and debt instruments  The majority of cost savings expected to roll-off by end 2018  Direct costs expected to decline significantly, result of downsized headcount due to newly transferred and legacy business exits  Reduction in SRU business revenues and gains on sale as a result of significant business exits over 2016-17  Includes fixed costs of ~500 -700 mn:~ 80 mn exit cost~160 mn funding costs~220 mn of service costs~230 mn of direct costExcludes litigation costs as currently not known   12  40      2014  2018 target  3Q15    68% decline in RWA excl. op. risk46% decline in RWA incl. op. risk   73% decline in Leverage  RWA incl. op. risk  66  60  30  Revenue impact: - IB: 100 mn - PB&WM: 1,000 mnPre-tax impact: - IB: (370) mn - PB&WM: 165 mn  Revenue impact: - IB: 110 mn - PB&WM: 980 mnPre-tax impact: - IB: (440) mn - PB&WM: 90 mn  Impact of new transfers to SRU:  1 2014 Swiss Lev Exposure; 3Q15 and 2018 BIS Lev Exposure 

 Overview of Financials and Capital  October 21, 2015  27  3Q15 Financial results summary  1  Financial summary under current and new structures  2  Financial metrics for the Group and the new segments  3  Targets for Group capital usage and allocation  4  Free capital generation  5  Capital raise  6  Note: Unless otherwise noted, figures presented in the following section are based on what our results under our new structure would have been, had it been in place January 1, 2014 

       October 21, 2015  28  Leverage reduction expected to accelerate with Strategic Resolution unit  3Q15  End 2015excl. SRU  APAC  GM + IBCM  End 2018excl. SRU  SRUImpact    (19)  40  (87)    Leverage in CHF bn, unless otherwise stated  End 2015Target  127  40  +106      2016 to 2018  1,045  ~1,000  o/wPB&WM CHF 373IB USD 615  +59  --  +26  ~960  (127)  ~873  3Q15  End 2015 target  End 2018  Remainingreduction  New Additions  ‘16-’18 Wind-Down  2016 to 2018  Group  Strategic Res. Unit    ~1000  End 2018 Target  End 2018 distribution  CHUB + IWM  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  End 2018 target  IBXX%  SRU4%  Swiss UB29%  IWM10%  APAC18%  GM36%  IBCM4%   

       October 21, 2015  29  Substantial RWA to be reallocated to growth initiatives  3Q15  End 2015excl. SRU  APAC  GM + IBCM  CHUB + IWM  End 2018excl. SRU  SRUImpact    (3)  30  (27)    ~315  End 2015Target  o/wGM --IBCM +6  57  End 2018 Target  13  +47      2016 to 2018  End 2018 distribution  285  290  +24  +6  +22  ~285  (57)  233  3Q15  End 2015 target  End 2018  Remaining reduction  New Additions1  ‘16-’18 Wind-Down  2016 to 2018  Group  End 2018 target    RWA in CHF bn  Strategic Res. Unit  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  o/wPB&WM CHF 108IB USD 164  SRU10%  Swiss UB25%  IWM16%  APAC16%  GM27%  IBCM7%  1 Includes operational risk  

 Anticipated regulatory developments highlight need for capital buffer  October 21, 2015  30    2015  2016  2017  2018  2019  2020  Recalibrated leverage ratio likely to be primary capital constraint until 2019, however…  CS targeting 5-6% Tier 1 leverage ratio by end 2017, of which 3.5-4.0% is expected to be met through common equity   Leverage ratio recalibration  TBTF rules effective from January 1st, 2019Implied minimum CET1 capital of CHF 35 bn required, and minimum Tier 1 capital of CHF 50 bn   1 The binding constraint is determined as the worse of 3.5% of leverage exposure and 10% of RWA due to the anticipated TBTF requirement of 3.5% CET 1 leverage ratio and 10% CET 1 requirement 2 Reflects post-mitigation estimates of current expectations Note: Under new structure, new management structure effective October 22, 2015; Future numbers expected / illustrative  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  Final Swiss TBTF rules expected imminentlySwiss TBTF rules anticipated to require 5% Tier 1 leverage ratio, and 3.5% CET1 leverage ratio   …RWA uplift resulting from capital floors above 60% will drive the binding constraint1 from the start of 2019  Final rules for advanced models expected by 2016  The impact of FRTB will primarily affect market risk assets in investment banking and is estimated at ~50bps2Our initial estimate of the incremental impact of a floor against revised standard models is 25 - 100bps2 if the floor is set at 60%, and 100 - 250bps2 if the floor is set at 70%. The impact of a floor will affect both market and credit risks across both investment banking and private banking assets. These estimates are inherently uncertain given that implementation is expected several years in the future  Standardized Approach to counterparty Credit Risk rules effective from January 1st, 2017; minimal impact expected  CS targeting ~13% CET1 ratio by the end of 2018  RWA uplift  CET1 capital ratio targeted to remain at ~11% after implementation of rules  

 Overview of Financials and Capital  October 21, 2015  31  3Q15 Financial results summary  1  Financial summary under current and new structures  2  Financial metrics for the Group and the new segments  3  Targets for Group capital usage and allocation  4  Free capital generation  5  Capital raise  6  Note: Unless otherwise noted, figures presented in the following section are based on what our results under our new structure would have been, had it been in place January 1, 2014 

 Introduction to Free Capital Generation  October 21, 2015  32  Strategy is to focus on the generation of free capital, both to fund growth and generate returns for shareholders    Profit based metrics such as pre-tax income, net income and return on equity suffer from weaknesses such as:Excludes items that affect capital generation such as Other Comprehensive Income, etc.Based on total tax charges, but increases in deferred tax assets can be irrelevant to capital generation even while benefitting net incomeIgnores increases in capital usage, i.e. can have a high net income but be capital consumptive  Free capital generation metric focuses on:Components of shareholder’s equity that are capital relevant, i.e. which affect our capital base; specifically pre-tax income excluding FVoD net of cash taxes as well as Deferred Tax Asset threshold impacts, additional costs relating to share awards and net impact of defined benefit pension fundsGives a clear analysis of how much capital we generate from operating activities, separate from other activitiesAnd how this capital is reinvested  We intend to use the Operating Free Capital Generation measure as a new KPI  For the overall performance of Credit Suisse GroupTo guide our capital reallocationAs a target for dividendsAs a metric to measure divisional performance  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise 

 October 21, 2015  33  Illustrative generation of free capital and CET1 capital in 4Q15 - 2018  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise    Operating free capital generated     CS LE Switz.IPO2+2.0-4.0  Increased leverage ratio req. to 3.5%  Other issuances+0.5  ~ 8.5 – 9.5  Other sources of capital+ ~9.0 – 11.0  Free capital generation  Free cap. usage  Note: Under the free capital generation concept, capital is calculated using 10% to convert RWA into capital and 3.5% for leverage exposure. Considerations for both RWA and leverage exposure movements are based on the constraining factor of capital calculation for the period.  Business-related leverage moves and asset disposals  Free capital generated     ~ 18.5 – 19.5    CET1 gen.  Increase in CET 1  ~ 14.0 – 15.0    Net free capital generated  1 Net of costs and including relating threshold impact for deferred tax assets 2 Includes other management actions. Any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG  New KPI    ~ 10.5 – 11.5  Illustrative 4Q15- 2018 free capital generation in CHF bn        Capital raise+6.51  Cash dividends accrued  ~(4.5)  + ~1.7  ~(5.2) 

 October 21, 2015  34  Illustrative generation of free capital and CET1 capital in 2019 - 2020  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise      Note: Under the free capital generation concept, capital is calculated using 10% to convert RWA into capital and 3.5% for leverage exposure. Considerations for both RWA and leverage exposure movements are based on the constraining factor of capital calculation for the period  Operating free capital generated   Changes in regulatory and capital requirements  Business related RWA moves  Cash dividends accrued   ~ 14.5 – 15.5  Free capital generated   Free capital generated  Free cap. usage    Illustrative 2019-2020 free capital generation in CHF bn  CET1 gen.  Increase in CET 1  Net free capital generated applying 60% floor      New KPI    40-45%  %  % usage of free capital generated  Target cash dividend payout of >40% of operating free capital generated     ~ 14.5 – 15.5  ~ 8.0 – 9.0  ~ 3.5 – 4.5  15-20%  ~(6.5)  ~(2.0)1applying 60% floor  ~(2.5)  1 Includes negative impact of CHF (5) bn from changes in capital requirements and positive impact of CHF +3 bn from the change in constraining factor from leverage exposure to RWA 

   October 21, 2015  35  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise      CET 1capital  29.0    CET 1capital  CET 1 capital  Operating free capital generated   Cash dividends accrued  CET 1capital  Operating free capital generated   Cash dividends accrued  + ~8.5 – 9.5  CET1 ratioRWACET1 LRLev. Exp.  10.2%  2.8%  285  1,045  ~13%  4.3%  ~ 315  ~1,000  11.5 -12.5%  ~4.8%  End 3Q15  End 4Q18  Beg. 1Q19  End 4Q20  4Q15 – 2020 CET1 capital generation in CHF bn  Post RWA calibration  Pre RWA calibration          Illustrative “Look-through” CET1 ratio and CET1 leverage ratio in % / Risk-weighted assets and leverage exposure in CHF bn  Illustrative CET1 capital generation and impact on capital ratios  Capital ratios post regulatory change remain strong  2    Increase in CET 1~14.0 – 15.0   Increase in CET 1 ~8.0 - 9.0  13-14%  60% Floor   70% Floor   Capital buffer against stress and other one-off events    1  Target cash dividend payout of >40% of operating free capital generated   3    ~11%  12-12.5%  60% Floor   70% Floor   ~43.0 – 44.0  ~43.0 – 44.0  + ~14.5 – 15.5  ~51.0 – 53.0  +~9.0 – 11.0  Capital raise1+6.5  CS LE Switz.IPO2+ 2.0-4.0  Other issuances+0.5  ~(4.5)  ~(6.5)  1 Net of costs and including relating threshold impact for deferred tax assets 2 Includes other management actions. Any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG 

     Revised Group and business measurement and new targets  APAC pre-tax income (annualized)  CET 1 ratio (“look-through”, %)  CET 1 Leverage ratio (“look-through”, %)  Operating Free Capital Generation4Q15 to 2020  2014  0.9  1.6  10.2%  2.8%  Swiss Universal Bankpre-tax income (annualized)  1.6  1.7  Enablers  Performance Targets  Note: All metrics on the slide based on new organizational structure; IWM = International Wealth Management 1 Cost reduction program measured on constant FX rates and based on expense run rate excluding major litigation expenses in the SRU & restructuring costs, but including other costs to achieve savings.  2.1  2.3  ~13%  2018E  > 3.5%  Group net cost savings1  2.0  Global Markets  USD 76  USD 376  9M15  ~ USD 83 – 85 by end 2015; held flat until end 2018  ~ USD 380 by end 2015; USD 370 from 2016-2018  (in bn, in CHF unless otherwise specified)  USD 75  USD 484  2014 to 2018  > double  +44%  +3-4pp  > +100bps  10.1%  2.5%    ~23 - 25  2020E  October 21, 2015  36    3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  Dividend Policy  At least 40% of Operating Free Capital Generated to be distributed to shareholders via dividend over a five year periodUntil we reach our capital target, however, we will recommend CHF 0.70 per share with a scrip alternative; we will discontinue the scrip once we have clarity on regulatory requirements and litigation risks. In any event, we will not continue with the scrip beyond 2017   > 11%  RWA  Leverage  IWM pre-tax income (annualized)  1.3  1.1  2.1  +62% 

 Overview of Financials and Capital  October 21, 2015  37  3Q15 Financial results summary  1  Financial summary under current and new structures  2  Financial metrics for the Group and the new segments  3  Targets for Group capital usage and allocation  4  Free capital generation  5  Capital raise  6  Note: Unless otherwise noted, figures presented in the following section are based on what our results under our new structure would have been, had it been in place January 1, 2014 

   October 21, 2015  38  Capital raise and other management actions  3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  Capital Raise  Other Management Actions  The capital raise is expected to add CHF 5.9 bn net of costs to our shareholders’ equity and, due to the resulting higher threshold for deferred tax utilization, increases our CET1 position by CHF 6.5 bnCompared to our end-2015 targets for RWA and leverage, this equates to a pro forma CET1 ratio of 12.2 %, a CET1 leverage ratio of 3.6%, a Tier 1 leverage ratio 4.7% and a Total Swiss Capital leverage ratio of 5.4%. These ratios are calculated using 2015 year end target leverage exposure and RWACombined with the capital released by the SRU, the capital raise is expected to enable us to fund restructuring and other CtA expenses of CHF 2 bn to CHF 2.5 bn, while funding growth in APAC, IWM businesses and developing a buffer against future regulatory change and litigation risks   We intend to target a minority interest IPO2 in our Credit Suisse Legal Entity Switzerland by the end of 2017 in order to support our strategic plans to expand this business organically and through consolidation in the Swiss marketCombined with other management actions, this could result in a further CHF 2 bn to CHF 4 bn of capital for the Group by the end of 2017Post finalization of the new RWA regime by 2018, this may lead to an excess of capital against our current targets; in this event, we would seek to return this excess to our shareholders  CET 1 capital  “Look-through” CET1 ratio  CET1 leverage ratio  Tier 1 leverage ratio  29.0  +6.5  35.5  10.2%  2.8%  3.9%  12.2%  3.6%  4.7%  3Q15Reported  CapitalRaise1  3Q15 Illustrative 3   Illustrative impact of a capital raise in CHF bn  1 Including threshold impact for deferred tax assets 2 Any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals and would be intended to  Total Swiss Capital leverage ratio  4.5%  5.4%  generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG 3 These ratios are calculated using 2015 year end target leverage exposure and RWA 

 October 21, 2015  39  Illustrative timeline for the capital raise    Investor Day21 October Wednesday  Extraordinary General Meeting19 November Thursday  Ex-rights trading23 November Monday  End of rightsexercise period03 December Thursday      3Q15 results  Financial summary  Financial targets  Capital targets  Free capital gen.  Capital raise  First trading dayof new shares04 December Friday  End of rightstrading period01 December Tuesday    2015  Certain Key Terms  Structure  Firm underwritten rights issue and non pre-emptive placement with anchor investors1  Size of capital raise  c.CHF 6 bn  o/w Rights issue  c.CHF 4.7 bn  o/w Non-preemptive offering  c.CHF 1.36 bn  Number of shares to be issued  c.319 mn  Impact on conditional capital  No impact expected on current outstanding contingent convertible capital  1 Subject to customary conditions, including approval by Extraordinary General Meeting 

 Appendix  October 21, 2015  40 

 October 21, 2015  41  Financial summary under current structure                                Strategic   Pre-tax Income/ (Loss)  -  o/w non-strategic litigations   In CHF bn  3.7  Priv. Bank. & Wealth Manag.  Non-Strat.  Total  2.7  -  (1.6)  -  (1.6)  -  (1.6)  (0.3)  2.1  2.4  3.7  2.3  (1.9)  (0.9)  1.8  1.4  (0.7)  (0.5)  0.0  0.7  (0.7)  0.2  6.8  4.5  (3.6)  (0.4)  3.2  4.0  2014  9M15  2014  9M15  2014  9M15  Strategic   Investment Banking  Non-Strat.  Total  2014  9M15  2014  9M15  2014  9M15  Strategic   Corporate Center  Non-Strat.  Total  2014  9M15  2014  9M15  2014  9M15  Strategic   Credit Suisse Core Results  Non-Strat.  Total 1  2014  9M15  2014  9M15  2014  9M15  -  -  (0.8)  (0.2)  (0.8)  (0.2)  -  -  -  -  -  -  -  -  (2.4)  (0.2)  (2.4)  (0.2)  Basel 3 RWA  Leverage  RoC / RoE (%)2  102  104  6  4  108  108  150  152  10  8  160  161  16  16  16  16  268  272  16  13  284  285  365  369  5  4  370  373  690  565  58  37  748  601  32  71  32  71  1,087  1,004  63  40  1,150  1,045  29  23  15  20  17  13  8  8  12  11  4  9  1 The difference between Credit Suisse results (under current structure) and Credit Suisse Group results (under new structure) includes certain entities in which we had no significant economic interest in the unit2 Division RoC (return on regulatory capital) calculated using income after tax; assumes tax rate of 30%, and capital allocated based on the average of 10% of average Basel 3 risk-weighted assets and 2.4% of average leverage exposure (or 3.0% where specified) in 2014; in 9M15, the calculation is based on the average of 10% of average Basel 3 risk-weighted assets and 3.0% of average leverage exposure. RoE (return on equity) for core results calculated by dividing annualized core net income by average core shareholders' equity (derived by deducting 10% of Strategic Resolution Unit RWA from reported shareholders' equity)   26  23  14  20  15  13  7  8  RoC (@ 3.0% lev) 

 Financial summary under new structure  October 21, 2015  42                                                            SwissUniversal Bank  Pre-tax Income/ (Loss)  2014  Ann. 9M15  1.6  1.7  -  -  o/w Non-Strat litigations  Basel 3 RWA  Leverage3  In CHF bn  International WM  Global Markets  Asia Pacific  Strategic Resolution Unit  Corporate Center  Credit Suisse Group1  2014  Ann. 9M15  1.3  1.1  -  -  2014  Ann. 9M15  2.4  1.9  -  -  2014  Ann. 9M15  0.9  1.6  -  -  2014  Ann. 9M15  (3.1)  (2.0)  (2.4)  (0.2)  2014  Ann. 9M15  0.0  1.0  -  -  2014  Ann. 9M15  3.6  5.4  (2.4)  (0.2)  13  “Worst of” RoC / RoE (%)2  58  61  33  32  75  74  22  24  66  60  16  16  284  285  248  244  74  79  479  368  131  104  194  146  32  71  1,198  1,045  27  24  10  14  4  Credit Suisse Core results    2014  Ann. 9M15  13  16  Credit Suisse Core  6.8  7.3  -  -  219  225  1,005  899  14  10  30  9                CC excl. FVoD  FVoD  0.5  (0.5)  1.3  (0.3)    1 The difference between Credit Suisse Core results (under current structure) and Credit Suisse Group results (under new structure) includes certain entities in which we had no significant economic interest in the unit 2 Division and Credit Suisse Core RoC (return on regulatory capital) is the worst of return on 10% of spot RWA and return on 3.5% of spot Swiss leverage exposure; assumes tax rate of 30% in 2014; and is the worst of return on 10% of spot RWA and return on 3.5% of spot leverage exposure; assumes tax rate of 30% in 9M15. RoE (return on equity) calculated for Credit Suisse Group . RoE (return on equity) calculated for Credit Suisse Group 3 Swiss leverage exposure          IBCM  2014  Ann. 9M15  0.5  0.1  -  -  16  18  41  34  23  5 

 Potential implications of the new strategy on Goodwill  October 21, 2015  43  At the end of 3Q15, Credit Suisse carried CHF 8.7 bn of goodwill and intangibles in the balance sheet, of which CHF 6.3 bn is carried by the Investment Banking division in the current reporting structure, largely with respect to the acquisition of Donaldson, Lufkin, & Jenrette in 2001Goodwill is fully deducted when calculating the “look through” CET1 capital balance used in all “look through” capital and leverage ratios; it is also excluded from Tangible Equity when we present Return on Tangible Equity, therefore impairment of goodwill does not effect either “look-through” CET1 ratios, nor Return on Tangible Equity  Current status  A significant strategic review and group re-segmentation is a triggering event for assessing whether there will be goodwill impairmentAs the current strategic review is leading to a re-segmentation, the goodwill impairment test must be performed twice, once under the old reporting structure, and then again under the new reporting structureAny impairment arising from this two stage impairment test would be recognized in the quarter when the new strategy is effective, i.e. 4Q15  Strategy review and resulting impact  Our preliminary impairment assessment indicates that the goodwill currently carried by the Investment Banking division is likely to be impaired. Such an impairment would impact the Group, Global Markets as well as Investment Banking and Capital Markets divisional pre-tax income in 4Q15 but will not impact the CET1 ratios on a “look through” basis or Return on Tangible Equity    Preliminary assessment 

 Credit Suisse StrategyOverview of CostsDavid Mathers 

 October 21, 2015  45  CHF 2 bn net cost savings target expected to reduce absolute cost base to between CHF 18.5 and 19 bn by end-2018    2015 – 2020 Cost reduction program in CHF bn, year-end targets  ~20.5 - 21.0    TargetCHF 3.5 bn of gross savings by end 2018    Further net savings targeted 2018+  2015E  2018target  2020target    Reduction of fixed cost base to a lower “break even point” to profitability and reduce earnings volatilityCHF 2.0 bn net savings target includes:CHF (3.5) bn of gross cost savingsPlanned CHF 1.5 bn of investments to facilitate divisional growth initiatives, of which 60% targeted for Asia Pacific and the remainder to our Swiss Universal Bank and International Wealth ManagementFurther net savings targeted beyond 2018, driven by efficiencies from IT digitalization and shared use of utilities    GrossSavings  GrowthInvestments  Note: Cost reduction program measured on constant FX rates and based on expense run rate excluding major litigation expenses in the SRU & restructuring costs, but including other costs to achieve savings    2015E    (1.3)bn: Business exits & run-down of SRU portfolio(0.9)bn: workforce strategy, technology & London right-sizing(0.1)bn: additional wind-down of Corporate Center costs+1.5bn: divisional growth investments    (0.9)bn: substantial completion of Corp. Center programs (i.e., legal entity program, IT architecture simplification, etc.) (0.3)bn: run-down of SRU portfolio (planned run-down of prior Non-Strategic Unit)  Previously PlannedCost Reductions    TargetCHF 2.0 bn of net savings by end 2018 

 October 21, 2015  46        CorporateCenter1  SharedServices  Other Front Office and SRU Expenses  2018 CostSavings  Cost SavingsPost-Reinvestment  Reinvestment  1.0  0.9  1.6  3.5  2.0  Corp. CenterSubstantial completion of major programs including regulatory projects  ServicesEfficiencies from workforce strategy and London right-sizing, etc.  SRU & ExitsRun-down of SRU portfolio, business exits, and associated costs  Notes: Cost reduction program measured in constant FX rates and based on expense run rate excluding major litigation expenses in the SRU & restructuring costs, but including other costs to achieve savings 1 Includes rundown of realignment costs  Sources of cost savings  Investments to facilitate divisional growth initiatives  2015 – 2018 Cost development in CHF bn  Cost Savings  (1.5)  1  2  3    Net savings target  Efficiency measures expected to free up resources for use in growth initiatives 

 October 21, 2015  47  Corporate Center major program expenses and run-off profile in CHF bn   CHF 1bn in savings expected from the wind-down of major programs in the Corporate Center  Corporate Center expenses  1.6  0.6 (o/w 0.14 remaining in Corporate Center)  (1.0)  Proforma 2015  Reduction  Target 2018      Legal Entity Programincluding recovery resolution plan        0.5  0.9  0.2    (0.5)    Minimal < CHF 50 mn    (0.4)    (0.1)    0.1  Other Major Programs*(including other CtA required to improve structural environment & reduce costs)  Residual Corporate Items    0.4*  Legal Entity Program components1  2016  2017  2018  US IHC  Switzerland Legal Entity  Service Company      Major Programs components1  2016  2017  2018  IT infrastructure efficiency      Front-to-back optimization  Driving further innovation    1 Shows major select components* Other Major Programs will no longer be reported within the Corporate Center and will be allocated to the divisions under the new reporting structure.  Allocated to divisions under new structure  1   

 October 21, 2015  48     Material transformation of services expected over the coming years  2  SimplifyDuplication between front office embedded support and central services functionsRedesign of Front-to-Back service model using a zero-based approachTransform and streamline IT                AlignSupply of services is planned to be effectively aligned to future value creation and to the demand of the divisionsDespite significant deployment over the last 5 years, there is still a high concentration of support functions in higher cost locations (e.g., London, Zurich and NYC)                  RestructureReduce surplus of real estate in high cost markets, particularly in the UKRationalize infrastructure and simplify application architecture                                      InvestExponential digital / mobile adoptionIncreasing opportunities in data application and analyticsExpanding importance of APAC region                  Workforce Strategy  London Rightsizing  Efficiencies in technology  0.9  Savings by 2018  0.4  0.2  0.3  Efficiencies in technologyRationalizing use of applicationsRealizing cross-divisional savings together with improvements in client service and operational risk    Workforce StrategyRationalization of service and support functions between embedded front office groups and central services functionsReassess alignment of services functionsFurther deployment of functions to our Centers of Excellence in Eastern Europe, Pune and Raleigh    London RightsizingOptimize location strategy for UK businessConsolidate target London footprint in One Cabot Square headquarters, with selected off-shoring of staff who do not require UK presence     Strategic Initiatives and expected savings in CHF bn 

 October 21, 2015  49    Simplify & Align: Support Governance and Workforce Strategy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        …in other locations  … in Centers ofExcellence  CS employee population in CoEs    CS Centers of Excellence    Contractor/outsourced workforce…  +3,000 FTE  ~18,000  -4,000 FTE  Note: FTE = Full time equivalents RRP = Recovery and Resolution Plan1 Of the 7,000 additional employees a portion represent newly hired roles in the CoEs as well as those deployed from the other locations  Simplify: Service Rationalization & AlignmentAssess our front-to-back flows where there is duplication and / or inefficiency in business service and support functionsAlign service functions that are primarily business specific to those businesses in order to improve accountabilityAlign with control infrastructure to ensure that the business owns and is responsible for the first line of defense and that the second line of defense is independent and can act as a proper controlIntegrate with Service Company requirements under RRP workAlign: Workforce strategyContinued deployment: Credit Suisse has ~15% in Centers of Excellence (CoEs) which has increased from 8% in 2012. We are targeting continued deployment from high cost locations over the next five years, with the aim of exceeding 25% by 2018. We will be increasing the size and scale of our operations in India, Eastern Europe and RaleighReduced usage of contractors, particularly in high cost locations: At the moment, approximately half of our contractors and outsourced population is in high cost locations. Our goal is to reduce our reliance on contractors as well as increasing the percentage in our lower cost locations to ~80%  2 

 October 21, 2015  50  Align: London rightsizing expected to deliver ~CHF 230mn in annual savings by 2020    A detailed review is underway to determine the most efficient London footprint given the changes to the front office mix and the location of businessesRightsizing expected to be done through:Consolidating target London footprint in One Cabot Square headquarters, releasing other key sites for sub-letting and minimizing potential cost/impairment charges across 2016-17Selected off-shoring of staff who do not require UK presence to existing CS offshore sites  ~ 6,600 UK employees and contractors with ~60% in service and support functions Identify current London roles that require co-location with Front Office vs. those that could be located elsewhereFor roles not required in London, investigate alternative sourcing options including Off-shoring, Near-shoring5 office spaces with the total area of ~1.5 mn square feetCurrent footprint underutilized and presents opportunities for sub-letting and cost release  Real Estate  Reduction in force  London current footprint  Rightsizing plan  Expected benefits  London Rightsizing Costs vs. Savingsin CHF mn      ~CHF 230  ~CHF 220  Optimize the location strategy for the UK Business – right resources in the right place to optimize for cost, skills and degree of co-location required   Costs-to-achieve*  Saves  * Note, CHF 500mn of restructuring charges related to overall London strategy, of which CHF 170mn relates to rightsizing.    CHF 170mn restructuring costs related to London Rightsizing  Other Costs-to-Achieve    2 

 October 21, 2015  51  Restructure & Invest: Gaining efficiencies through technology  Run-down of redundant infrastructure: converge technology platforms onto a smaller base of future proof applicationsThe reduction from ~7,500 to ~5,500 applications has both reduced operating costs and operational riskA further ~500 applications will be removed in the next stage of this program, with a further segment of applications put into ‘run-off’, including potential deployment to external providers to reduce costsContinue to implement a number of client focused straight through processing initiatives across the complete Front-to-Back landscapeInvesting in an infrastructure rationalization program to optimize the efficiency of infrastructure asset base to address up to 50% reduction of the legacy infrastructure and converge onto a market standard hybrid cloud based infrastructure Continue to monetize some leading edge functions as well as participate in emerging cross-industry utilities to improve standardization and gain greater scale efficiencies from processes which are essentially industry commoditiesLeveraging innovative technologies to solve enduring institutional challenges as well as crowdsourcing: Crowdsourcing Pilots are already being rolled out enterprise-wide to help drive the innovation agenda  Credit Suisse has already achieved CHF 0.8 bn of savings across our IT landscape since 2011 Targeting a further CHF 0.6 bn savings by 2018  Continued focus on innovation: After successful launch of Digital Private Bank, continued identification of innovation opportunities through a global innovation lab strategy. Recent successful implementations include:Robotic automation using pattern recognition and AI technology to automate existing manual processesUnauthorized trading technology, helping managers and control functions to monitor trading more effectively and more efficientlySales analytics, improving the efficiency and effectiveness of sales force  2 

 October 21, 2015  52    2015 – 2018 Cost reduction program in CHF bn    Strategic Resolution Unit rundown  0.6  0.5  1.6  0.5   Divestitures & SRU rundown expected to contribute to CHF 1.6 bn of savings  Achieve CHF 0.6 bn of savings by 2018 from divestiture of US Private Banking Business and related operationsOther wind-down savings include costs associated with additional Western European PB businesses and Investment Banking businesses (i.e., legacy fixed income portfolio and additional activities identified as non-core)  Rationalization of front office footprint and related infrastructure costs to align with reduction in resources needed for portfolio management        3  Note: Cost reduction program measured in constant FX rates and based on expense run rate excluding major litigation expenses in the SRU & restructuring costs, but including other costs to achieve savings 

 Credit Suisse StrategyOverview of Strategic Resolution UnitDavid Mathers 

 October 21, 2015  54    Non-Strategic Unit (NSU)  Investment Banking  Private Banking and Wealth Management  Corporate Center  Credit Suisse Group  Stra-tegic IB  IB NSU  WMC, CIC, AM  PB&WM NSU  Stra-tegic CC  CC NSU  Swiss Univ.Bank  Credit Suisse Group  Int’lWM  GlobalMarkets  IBCM  Corp.Ctr.  Strategic Resolution Unit (SRU)        Set up as a separate reporting segmentConsolidates remaining portfolios from existing non-strategic units plus transfers of additional exposures in order to immediately reposition and resize to our desired long-term core setupResponsible for unwinding positions included Concept of strategic and non-strategic results is retired  Asia Pacific  Strat.Resol. Unit      Strategic Resolution Unit set up as evolution and expansion of non-strategic units 

 October 21, 2015  55  Independent Segment  Independent management team with the head reporting directly to the Group CFO and accountable for driving down capital and costs in strategic resolution unitFormalized governance with oversight committee comprised of control and dedicated front office functions Increased transparency and simplified reporting of both exit strategy of non-core activities and performance of ongoing businesses  Immediately reposition the firm to long term setup  Provide immediate separation between future platform and historic activities such that ongoing segments are in their long term configuration as defined by Group strategyProtect against upcoming regulatory changes by reducing resource consumption in lines of business that may not deliver adequate risk-adjusted returns given the regulatory outlookProvide platform for restructuring of client centric and strategic but capital inefficient businesses   Achieve rapid reduction of assets  Enable effective reduction of both remaining portfolios from existing non-strategic units and additional activities identified for wind-down purposes of the new Group Strategy  Rationale for Strategic Resolution Unit establishment 

 October 21, 2015  56          1 Included in Corporate Center and allocated to divisions 2 Excludes operational risk  9M15 Pre-tax income / (loss) in CHF mn  Strategic Resolution Unit  Legacy fixed income portfolio Legacy litigation provisionsLegacy funding costsOther   Remaining IB NSU portfolio  Restructuring of selected onshore businesses Legacy cross-border businessesRestructuring of former asset management divisionOther   Remaining PB&WM NSU portfolio  Movements in credit spreads on own liabilities1Realignment costs1Legacy funding costsReal estate salesOther   Remaining Corporate Center NSU portfolio  MacroCredit SPPrimeEMG  Additional IB portfolio  US private banking businessSelected Western European branches (e.g. Monaco, Gibraltar, Austria, and etc.)  Additional PB&WM portfolio  Certain entities in which we had no significant economic interest in the unit  Other additional positions  (415)  NSU  Add.  CC1  SRU  3Q15 Basel 3 RWA in CHF bn  13  60  NSU2  Add.  Op. Risk  SRU  29  18  3Q15 Leverage in CHF bn  40  146  NSU  Add.  SRU  106  IB: 87%  IB: 85%  IB    PBWM    CC & Other    SRU portfolio exposure primarily driven by IB related positions (85% RWA and 87% Leverage at the end of 9M15)Operational risk has been planned in the SRU to represent a fair allocation based on the SRU portfolio and establishes clear alignment of Op Risk with underlying activities in line with the new Group strategy  Composition of Strategic Resolution Unit  (263)  (812)  (1,491) 

 57  October 21, 2015      Basel 3 RWA in CHF bn  Leverage Exposure in CHF bn  RWA excl. Op. Risk  Op. Risk RWA      60  41  33  30  27  25  146  79  51  40  37  34  (73%)  71% reduction (excl. Op. Risk)  Strategic Resolution unit RWA (excl. op. risk) and leverage exposure are expected to decline by 71% and 73% respectively by the end of 2018Residual exposures represent positions with considerable exit constraints and tail portfolios, which will be managed to minimize the financial drag on group resultsRegulatory (FINMA) approval required for any ops risk reduction  Strategic Resolution Unit RWA and leverage exposure wind-down profile  83% reduction (excl. Op. Risk)  (77%)  1  1  1 2019 and 2020 risk-weighted assets on a pre-RWA calibration basis for comparability purposes 

 October 21, 2015  58    Strategic Resolution unit established to facilitate rapid wind-down and reduce drag on overall Group performance    Illustrative pre-tax income progression in CHF mn  2014 pre-tax loss  Fundingcosts  Servicescosts  Remaining pre-tax drag in 2018  Directcosts  Business revenues and gains on sale  RWA excl. op. risk  Leverage Exposure1  (in CHF bn)  48  194  42  146  9M15 pre-tax loss (annualized)  Funding costs expected to decrease by 2018 from the wind-down of legacy non-Basel III compliant capital and debt instruments  The majority of cost savings expected to roll-off by end 2018  Direct costs expected to decline significantly, result of downsized headcount due to newly transferred and legacy business exits  Reduction in SRU business revenues and gains on sale as a result of significant business exits over 2016-17  Includes fixed costs of ~500 -700 mn:~ 80 mn exit cost~160 mn funding costs~ 220 mn of service costs~230 mn of direct costExcludes litigation costs as currently not known   12  40      2014  2018 target  3Q15    71% decline in RWA excl. op. risk50% decline in RWA incl. op. risk   73% decline in Leverage  RWA incl. op. risk  66  60  30  Revenue impact: - IB: 100 mn - PB&WM: 1,000 mnPre-tax impact: - IB: (370) mn - PB&WM: 165 mn  Revenue impact: - IB: 110 mn - PB&WM: 980 mnPre-tax impact: - IB: (440) mn - PB&WM: 90 mn  Impact of new transfers to SRU:  1 2014 Swiss Lev Exposure; 3Q15 and 2018 BIS Lev Exposure 

  

 October 21, 2015  Credit Suisse StrategySwiss Universal BankThomas Gottstein 

   Disclaimer  The 3Q15 financial information is subject to further review We have not finalized our 3Q15 Financial Report and our independent registered public accounting firm has not completed its review of the condensed consolidated financial statements (unaudited) for the period. Accordingly, the 3Q15 financial information contained in this presentation is subject to completion of quarter-end procedures, which may result in changes to that information. Certain reclassifications have been made to prior periods to conform to the current presentation.The re-segmented financial information is preliminary and subject to further review Unless otherwise noted, this presentation contains certain historical financial information that has been re-segmented to approximate what our results under our new structure would have been, had it been in place from January 1, 2014. Such information is preliminary in nature and subject to review, evaluation and refinement, has not been audited or reviewed by our independent public accountants and can be expected to change in certain respects before any final re-segmentation is published. In addition, “Illustrative”, “Ambition” and “Goal” presentations are not intended to be viewed as targets or projections, nor are they considered to be Key Performance Indicators.  All such presentations 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 may not achieve the benefits of our strategic initiatives We 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.  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, 2014 and in “Cautionary statement regarding forward-looking information" in our second quarter 2015 Financial Report 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 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 (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 3 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. Leverage amounts for 4Q14, which are presented in order to show meaningful comparative information, are based on estimates which are calculated as if the BIS leverage ratio framework had been implemented in Switzerland at such time. 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.  Selling restrictions This document 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 the SIX Swiss Exchange AG or any other exchange or regulated trading facility in Switzerland or a prospectus 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. A decision to invest in securities of Credit Suisse Group AG should be based exclusively on a written agreement with Credit Suisse Group AG or an offering and listing prospectus to be published by Credit Suisse Group AG for such purpose.  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 U.S. persons (as defined in 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) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”) or (iii) 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.  October 21, 2015 

 Swiss Universal Bank – Key messages  Switzerland, our home market offers attractive growth opportunitiesWe can build on strong market positions across key businessesIn 2014, the business in scope of the Swiss Universal Bank as a whole contributed 24%1 of Group Core PTI  Switzerland: Core to the Credit Suisse strategy  Focus to simplify: Concentrate on Swiss-domiciled clientsEmpower to grow: Clearly defined initiatives across portfolio to achieve growth ambitionsDrive efficiency agenda: End-to-end accountability and increased automation to boost efficiencyInvest in brand: Further strengthening of brand and reputation in Switzerland  Four strategic priorities  Despite significant RWA increase due to regulatory changes…… we aim for a 17% post-tax return on regulatory capital3 by 2018, and …… a 10% earnings growth resulting in a PTI ambition of CHF 2.3 bn by 2018  Attractive returns and clear financial ambition  Planning a partial 20-30% IPO of the Legal Entity Credit Suisse (Schweiz) AG by the end of 2017, market conditions permitting2Enhanced independence and accountability while remaining core part of a global bankAcquisition currency for Swiss consolidation opportunitiesExpected positive group capital impact of roughly CHF 2 to 4 bn including other management actions  Planning a minority IPO (20 to 30%,by end 2017)2  1. Please refer to p. 7 for calculation basis 2. IPO of Legal entity Credit Suisse (Schweiz) AG. Any such IPO would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG. 3. Post-tax return on regulatory capital calculated using income after tax in CHF, assuming tax rate of 30%, and capital allocated on the highest of 10% of end 2014 Basel 3 risk-weighted assets and 3.5% of end 2014 leverage exposure  October 21, 2015 

 Agenda  The Swiss Universal Bank  Winning at home: Four strategic priorities  1  2  Our financial ambition and conclusion  3  October 21, 2015 

         Switzerland offers attractive opportunities for Credit Suisse  50  80  70  60  40  30  20  Eurozone  Switzer-land  2020E  2010  2000  1990  GDP (in thousand USD at PPP) per capita  12.3%  Qatar  13.5%  Bah-rain  Switzer-land  11.6%  Singa-pore  10.7%  Kuwait  9.9%  Hong Kong  9.4%  % of households with financial wealth >USD 1 mn  527  +6.9%  2014  2013  478  2012  445  2011  431  Credit lines for companies in Switzerland, CHF bn  Note: PPP refers to purchasing power paritySource: The Economist Intelligence Unit, Annual Time Series Data (retrieved October 2015), The Boston Consulting Group: Global Wealth Report 2015, Swiss National Bank  Swiss Economy: Expected to maintain its steady growth  Private Banking: Highest millionaire density globally  Corporate Banking: Lending continuously growing  October 21, 2015 

   We have strong domestic market positions on which to build  ~10%1  ~23%2  ~26%  ~12%  Mid/Large SMEs  Large Swiss Corporates  ECM  IBD4   DCM  M&A  Retail & Affluent  HNWI  External Asset Managers  UHNWI  Institutionals  ~21%  ~13%  ~10%  ~32%3  ~26%3  ~52%3  1. Including Affiliates (Bank-now, Neue Aargauer Bank and Swisscard) 2. Including External Asset Managers Switzerland & International 3. Data based on January, 1st 2011 to October, 7th 2015 4. Previously part of Investment Banking Note: SME refers to Small and Medium Enterprises Source: The Boston Consulting Group, Thomson Securities, SDC Platinum, Dealogic, IFR, Morningstar  Credit Suisse market share  Leading  #2  #2  #1  #2  #2  #1  #1  Position  Credit Suisse market share  Position                          Private clients  Corporate & Institutional clients  October 21, 2015 

           PTI (CHF bn), 2014  Credit Suisse Core Results(from continuing operations)   5.2  100%  76%  6.8  24%  OtherCredit Suisse businesses1   1.6  Swiss Universal Bank2   0.6  0.2  1.0  23%  20%      PTI (CHF bn)  Post-tax returnon regulatory capital5  CHF -0.1 bn in PTI not allocated (previously reported in Corporate Center incl. Swisscard and project-related expenses).  Wealth Management Clients Switzerland3  Corporate & Institutional Clients Switzerland4  Sales & Trading Services & Investment Banking Switzerland  PTI, Swiss Universal Bank, 2014    The Swiss Universal Bank is the backbone for Credit Suisse building on a diversified portfolio    Generated 24% of Group PTI  Diversified portfolio of businesses  Average = 13%  11%  1. Main components: Investment Banking outside Switzerland, Asset Management, Private Banking Americas, Private Banking Europe, Middle East & Africa, Private Banking Asia Pacific 2. Sum of components shown on the right 3. Includes Private & Wealth Management Clients Switzerland (includes Retail segment), Private Clients Switzerland & External Asset Managers Switzerland, Neue Aargauer Bank, Swisscard and Bank-now; excluding Sales and Trading Services Switzerland 4. Includes Small and Medium Enterprises (SME), Large Corporates, Institutional Clients & Asset Servicing, Financial Institutions, Commodity Trade Finance and Export Finance; excludes Aviation & Ship Finance (part of International Wealth Management) 5. Post-tax return on regulatory capital calculated using income after tax in CHF, assuming tax rate of 30%, and capital allocated on the highest of 10% of end 2014 Basel 3 risk-weighted assets and 3.5% of end 2014 leverage exposure Note: Numbers may not add up due to rounding  October 21, 2015 

 Agenda  The Swiss Universal Bank  Winning at home: Four strategic priorities  1  2  Our financial ambition and conclusion  3  October 21, 2015 

 Four strategic priorities defined to win in our home market  Invest in brand    Further strengthening of brand and reputation in Switzerland  Empower to grow    Optimize portfolio towards segments with attractive return on capital and high franchise value  Empower organization to focus on HNWI and capture synergies with mid/large SMEs by becoming the 'Bank for Entrepreneurs'; exploit growth opportunities in UHNWI  Drive efficiency agenda    End-to-end accountability and responsibility over Swiss costs and investments   Increased cost efficiency through optimized footprint, automation and operational leverage  Focus to simplify    Build on existing strong market positions and ensure seamless transition of client coverage   Significantly simplify set-up to focus on Swiss client needs  October 21, 2015 

 Swiss Universal Bank plans to focus on Swiss-domiciled clients  Swiss domiciled clients     Swiss Universal Bank  Non-Swiss domiciled clients    International Wealth Management  Asia Pacific  Focus to simplify                                                                                                                                                                                                              UHNWI; Premium & Entry HNWI  UHNWI; Premium HNWI  Entrepreneur clients  Entrepreneur clients  Institutional clients  Institutional clients  Private clients(Retail incl. Neue Aargauer Bank, Bank-now, Swisscard, Affluent, HNWI & UHNWI)  Corporate & Entrepreneur clients  Institutional clients    Swiss booking platform for Swissand International Business  Note: UHNWI = CHF > 50 mn AuM or total wealth; Premium HNWI > CHF 5 mn AuM; Entry HNWI > 1 M AuM  October 21, 2015 

   Empower to grow  We are optimizing our portfolio and see significant opportunities in HNWI ...  HNWI  UHNWI  External Asset Managers  Mid/large SMEs  IBD  Aggressive  Above market  Above market  Above market  Above market  Client segments  Growth ambition  Hire ~80 RMs focused on HNWI and foster sales effectiveness/cultureIncrease cross-selling through 'Bank for Entrepreneurs'Promote sales through Credit Suisse Invest and Mandates re-launch  Launch UHNWI-specific Credit Suisse Invest and increase mandates penetrationFurther strengthen collaboration with coverage units for mid/large SMEs, large Swiss corporates and multinationalsDouble lending book, +30% UHNWI RMs, gain market share in French-/Italian-speaking Switzerland  Leverage strong market position and platform to capture growth opportunities  Serve mid/large SMEs more holistically as part of 'Bank for Entrepreneurs'  Swiss Universal Bank-led IBD coverage and offering of a 'one-stop' shop  Selected initiatives to achieve ambition  Note: SME refers to Small and Medium Enterprises  October 21, 2015 

   Empower to grow  ... as well as improvement potential in Real Estate and Commodity Trade Finance  Commodity Trade Finance  Income-ProducingReal Estate  Explore leverage ratio exposure reduction measuresFocus new business to franchise clients with significant cross-selling potential  Affluent  Retail  Strengthen digital capabilities to enhance client self-service and free up RM capacityOptimize footprint by converting ~45 branches into advisory branches without tellerStreamline offering to low advice segments and provide bundled services  Large Swiss Corporates  Focus on increasing share of wallet (e.g. Corporate Finance)  Institutionals(e.g. Pension Funds)  Continue to comprehensively serve Institutionals building on 'One Bank' approach  Optimize  At market  At market  At market  Client segments  Growth ambition  Selected initiatives to achieve ambition  October 21, 2015 

   Background: Swiss Corporate partially owned by family members; run by a long-term CEO with close links to family    Time  How to capture cross-selling potential – Client example  Focus on becoming the 'Bank for Entrepreneurs'  Not captured  Private Bankingrelationship to founder    Lending, leasing and cash management for corporate & holding  Private Banking service  Corporate Banking/IBD service  Asset Management service            Cross-sellingpotential  Fully captured  Empower to grow  Note: SME refers to Small and Medium Enterprises        Liquidity event with founder  Institutional Asset Management mandate for pension fund      Secure corporate relationship & win new PB relationship with successor and other family members  Significant number of corporate and SME relationships without link to private wealth:especially in mid/large SME and HNWIalso in Large Swiss Corporates and UHNWITargeting double penetration of Credit Suisse entrepreneur baseInitiatives to address opportunityCo-coverage of HNWI and SMEValue proposition catered to EntrepreneursSimplified collaboration through co-locationJoint acquisition of clients by cross-teamsCo-branding of client events as 'one' team    Help with succession planning(e.g. IPO, MBO, MBI, M&A)  October 21, 2015 

 Two client examples to illustrate the 'Bank for Entrepreneurs'  M&A sales support for Chemicals company  Succession planning for Real Estate firm  Long-term chemicals client served by SME  NNA >CHF 75 mn    Client context  NNA >CHF 100 mn    Inherited real estate family business  Impact  Relationship development  Time  Buildings, cars and machinery leasing  Financing of a management buy-in  UHNWI/HNWI service  Corporate Banking/IBD service        M&A sales mandate (through IB initiative)  Further lending activities  Introduction of owners to UHNWI RM through SME RM within M&A process  Rapid opening of escrow account              Time  M&A deal with industrial company  Traditional corporate banking products  Introduction of owner to UHNWI RM through SME RM  Introduction of owner to Head of Mid-Market M&A team team which helped with sale           Regular invitations to UHNWI client events  Support in succession at acquired industrial company proposed by SME RM      Note: SME refers to Small and Medium Enterprises  Empower to grow  October 21, 2015 

 UHNWI: Increasing share of wallet in leading franchise   AmbitionIncrease footprint+30% RMsDeeper penetration of Swiss-based Single Family Offices (SFOs)Increase mandate penetrationDouble lending book & deal related revenuesCloser collaboration between RMs and Corporate Banking/IBStrict implementation of target operating model Team approach with clear separation of duties  Empower to grow  low  high  Direct investments / brokeragePrivate mandatesCustody servicesStandard Lombard lending  Private label fundsDirect trading accessGlobal custodyLending non-standard collateralSpecialty financingCorporate finance advice Hedge fund / private equityMulti-shore bankingPhilanthropy  Premium mandatesAdvisory mandatesInvestment consultingEnhanced client reportingCash management  degree of sophistication / complexity      Traditional wealth management services  Sophisticated solutions  low  Single Family Offices & UHNWI  Entrepreneurs & Executives;Global Citizens  Wealthy Individuals  degree of institutionalization        Pure Play Private Banks  Regional Private Banks with limited additional capabilities  high  October 21, 2015 

 External Asset Managers:Credit Suisse well positioned to exploit consolidation opportunities ... ...  Empower to grow  Core capital requirementsReporting and administrative efforts (e.g. tax reporting)Large infrastructure / back-office investmentsOrganizational requirementsAbolition of retrocessions    An industry-leading Credit Suisse External Asset Manager (EAM) franchiseDistinguishing dual coverage model with focus on investment adviceComplete EAM service offering supported by full service global wealth manager & investment bankCutting edge IT platform, acknowledged in the market place  Strengthened transparency requirements  Increasing number of regulations  Continuing pressure on gross margins  Increasingly sophisticated clients    RevenuesCosts        ✓  ✓  ✓  ✓  Market opportunity: Small banks under pressure – Increasingly becoming EAMs   Credit Suisse well positioned to capture opportunity  Merge  Close  Sell  Become EAMs  Partner/Outsource  Possible reactions by banks:  October 21, 2015 

   ... by addressing the needs of small private banks in Switzerland    ~90 private banks with ~CHF 230 bn AuM  Significant opportunityThere are ~90 small private banks with less than CHF 15 bn of AuMThe ~90 small private banks have a cumulative ~CHF 230 bn of AuMSignificant opportunity for Credit Suisse:Provide external asset manager-related servicesActively participate in consolidation  ~230  ~15  < 5 bn  <15 bn  ~90  <1 bn  Note: Based on publicly available data Source: The Boston Consulting Group  AuM (CHF)  CumulativeAuM (CHF bn)  Empower to grow      Small private banks  Small private banks (part of international group)   ~40  Cumulative number of private banks   ~70   ~90  October 21, 2015 

   End-to-end accountability for Swiss costs and investments …   Drive efficiency agenda  Today, significant costs are allocated from Shared ServicesGoing forward, end-to-end accountability and responsibility over costs incurred and investments made in Switzerland:Move Swiss-specific (or Swiss platform-related) Shared Services functions to Swiss Universal BankOwn budget, demand and prioritization for allocated Shared ServicesAllows faster decision making and priority setting  Illustrative: Total costs Switzerland, 2014  Shared Services Cost  Total Swiss costs  100%  Direct cost    Moving towards more direct cost accountability  ~60%  ~80%  ~40%  ~20%  October 21, 2015 

   ... strengthened by digital initiatives boosting efficiency ...  Digital foundation laid in Switzerland    Drive efficiency agenda  Enhancing self-service capabilities for clientsSign-up for products online, e.g. Lombard loansManage profile, preferences and confirmations onlineImproving productivity of front employeesRM Ecosystem: Planning center and workflow dashboardDigital advisory process to tailor portfoliosAutomating front-to-back processesDigitized application and approval process for mortgagesReducing forms and digitizing onboarding processesIncreasing client engagementPersonalized offers, activation and alertsDirect access to RM and experts through video calls  Snapshot of digital roadmap going forward  Online Mobile & Tablet Banking  Launched innovative app with new featuresReceived strong user ratings (4.2/5) and 20% uptick in downloads  RMproductivitytools  Supports RM in client discussions – esp. with portfolio quality checksSupplied 1'500 RMs in Switzerland with iPads  October 21, 2015 

   ... and complemented by measures to optimize our footprint  Drive efficiency agenda  Sustaining client proximity – Network essential to ensure superior advisory service/client experience and to generate business30,000 client contacts at the counter a day 200,000 client advisory meetings over the year 85% of NNA generated by clients living within a 10-minute distance from a Credit Suisse branchMaintaining focus on cost efficiency – Lean network with 151 Credit Suisse branches in Switzerland20% reduction of number of Credit Suisse branches since 2011; additional conversion of ~45 branches into Credit Suisse advisory branches plannedNew advisory branch format without teller to optimize cost base and further sharpen advisory focusReflecting changing client expectations and digital banking –Shifting from transaction & basic banking to a sophisticated advisory-focused branch network    Example: Credit Suisse advisory branches  Example Advisory Branches  Digital information devices& advisory tool  October 21, 2015 

 Agenda  The Swiss Universal Bank  Winning at home: Four strategic priorities  1  2  Our financial ambition and conclusion  3  October 21, 2015 

     High level indicative timeline  2016  2017  2018  Note: IPO of Legal entity Credit Suisse (Schweiz) AG. Any such IPO would be subject to, among other things, all necessary approvals and would be intended to generate / raise additional capital for Credit Suisse AG or Credit Suisse (Schweiz) AG  Optimization of legal entity set-up, structure & operations for the planned IPO  Planned IPO process preparation  Preparation of Credit Suisse (Schweiz) AG legal entity go-live    PlannedIPO byend 2017  Planning a partial 20-30% IPO of the legal entity Credit Suisse (Schweiz) AG by end of 2017  Key transaction benefits/ considerations  Enhanced independence and accountability while remaining core part of a global bankAcquisition currency for Swiss consolidation opportunitiesPositive group capital impact of roughly CHF 2 to 4 bn including other management actions  Legal entity Credit Suisse (Schweiz) AG  Scope of Business  By end 2017, market conditions permitting  Timing  20 to 30%  Size / Free float  SIX Swiss Exchange  Listing  Illustrative  October 21, 2015 

         The Swiss Universal Bank is an operational leverage play ...              56%  -12 pp  Ambition 2018  2014  68%  Expected 12pp decrease in C/I ratio...  ... driven by operational leverage  Expected increase in Revenues  Expected decrease in Operating Expenseof which running costsof which non-recurring costs  Expected increase in PTI    Cost/Income-Ratio, in %  + CHF 0.4 bn (+2% p.a.)  + CHF 0.7 bn (+10% p.a.)  – CHF 0.4 bn (–3% p.a.)– CHF 0.2 bn– CHF 0.2 bn  2014 – Ambition 2018  Note: Increase in PTI considers credit provisions (CHF 0.1 B)  Illustrative  October 21, 2015 

 ... expected to deliver 10% annual PTI growth until 2018  10% CAGR in PTIto ~CHF 2.3 bnCost/Income ratio improvement from ~68% to ~56%From 13% to 17%post-taxreturn on regulatory capital1  Ambition 2018    Empower to grow    Drive efficiency agenda    Focus to simplify     Invest in brand    Note: CAGRs referring to 2014-2018 period1. Post-tax return on regulatory capital calculated using income after tax in CHF, assuming tax rate of 30%, and capital allocated on the highest of 10% of end 2014 Basel 3 risk-weighted assets and 3.5% of end 2014 leverage exposure  October 21, 2015 

  

 October 21, 2015  Credit Suisse StrategyAsia PacificHelman Sitohang 

 Disclaimer (1/3)  October 21, 2015  1  The 3Q15 financial information is subject to further review We have not finalized our 3Q15 Financial Report and our independent registered public accounting firm has not completed its review of the condensed consolidated financial statements (unaudited) for the period. Accordingly, the 3Q15 financial information contained in this presentation is subject to completion of quarter-end procedures, which may result in changes to that information. Certain reclassifications have been made to prior periods to conform to the current presentation.The re-segmented financial information is preliminary and subject to further review Unless otherwise noted, this presentation contains certain historical financial information that has been re-segmented to approximate what our results under our new structure would have been, had it been in place from January 1, 2014. Such information is preliminary in nature and subject to review, evaluation and refinement, has not been audited or reviewed by our independent public accountants and can be expected to change in certain respects before any final re-segmentation is published. In addition, “Illustrative”, “Ambition” and “Goal” presentations are not intended to be viewed as targets or projections, nor are they considered to be Key Performance Indicators.  All such presentations 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 may not achieve the benefits of our strategic initiatives We 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. 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, 2014 and in “Cautionary statement regarding forward-looking information" in our second quarter 2015 Financial Report 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. 

 Disclaimer (2/3)  October 21, 2015  2  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 (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 3 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. Leverage amounts for 4Q14, which are presented in order to show meaningful comparative information, are based on estimates which are calculated as if the BIS leverage ratio framework had been implemented in Switzerland at such time. 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 (3/3)  October 21, 2015  3  Selling restrictions This document 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 the SIX Swiss Exchange AG or any other exchange or regulated trading facility in Switzerland or a prospectus 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. A decision to invest in securities of Credit Suisse Group AG should be based exclusively on a written agreement with Credit Suisse Group AG or an offering and listing prospectus to be published by Credit Suisse Group AG for such purpose.  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 U.S. persons (as defined in 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) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”) or (iii) 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. 

 CS Asia Pacific – Key Messages  Attractive market opportunities  Rapid wealth creation and growth in number of ultra-high net worth individuals (UHNWIs)Wealth creation driven by 1st generation business owners and UHNW familiesOngoing development of financial markets  Client needs increasing  Increasing demand for bespoke solutions to complex needsClients’ aspiration for growth entail larger and more sophisticated financing solutionsInstitutional investors seeking access to broader markets and differentiated offerings  CS positioned to capture market opportunity  Track record of strong performance with integrated deliveryPositioned for access to key markets with leading capabilitiesDeep relationships with top entrepreneurs in the region  CS strategy and ambition  The Trusted Entrepreneurs’ Bank in Asia PacificConsistent growth and plan to double pre-tax income by 2018  October 21, 2015  4 

 Agenda  APAC Market Opportunity   1  Growing the Trusted Entrepreneurs’ Bank   2  Ambition and Initiatives   3  October 21, 2015  5 

   Growth in APAC wealth market plays to our strengths  Over USD 50m AuM for UHNWI business; includes both onshore and offshore; excludes life and pensionBased on CS internal data and peer annual reports 2014Source: BCG Wealth Pools 2015  October 21, 2015  6  APAC UHNWI AuM1) (USDtrn)   Top 3 player2) in U/HNWI business with track record of profitable growth and attracting key talent  CS  2018 Forecast  2014  3.1  5.8    CAGR +17%   Opportunity  Clients  Strategy 

   Entrepreneurs driving APAC growth  APAC corporates with >USD 50m market cap and at least 20% ownershipSource: CS Research Institute: The Family Business Model Report 2015 (left-hand side) and CS proprietary study (right-hand side)  October 21, 2015  7    5th+  2%  1st  3rd  4th  3%  11%  2nd  27%  57%  New wealth driven by 1st generation entrepreneurs  Listed market cap with family-related ownership1)   Hong Kong  39%  China  11%  Singapore  47%  Malaysia  48%  49%  49%  52%  54%  83%  South Korea  Thailand  Philippines  Taiwan  India  Indonesia  26%  % of total market cap  Historical trust and deep relationships with top entrepreneurs    CS  Generation  Opportunity  Clients  Strategy 

 Financial markets’ deepening expected to underpin business growth and investor flows  U.S., Canada, UK, Germany, and SwitzerlandSource: CS Research: Market Cap as of August 2015 to nominal GDP as of December 2014  October 21, 2015  8  Market Cap Free Float to GDP (%)  Philippines  Indonesia  Thailand  India  HK + China  Malaysia  Korea  Japan  Australia  Singapore    Leading Equities and Structured Financing capabilities  CS  Average Select Mature Markets1)  Opportunity  Clients  Strategy 

 Agenda  APAC Market Opportunity   1  Growing the Trusted Entrepreneurs’ Bank   2  Ambition and Initiatives   3  October 21, 2015  9 

 Key client focus and CS delivery  10  Strong PB franchiseCS longevity, brand, trust, and full product suite in APAC (including Digital Private Banking access)  Trusted PB & IBD advisory franchises with integrated delivery and multi-product solutionsThe Trusted Entrepreneurs’ Bank  Leading Equities & Structured Financing capabilities with disciplined risk takingDifferentiated structuring expertise, track-record of product innovation and disciplined risk taking  Opportunity  Clients  Strategy  Target broad wallet opportunity resulting from connectivity across our businesses  CS      October 21, 2015      Entrepreneurs (UHNWIs /Corporates)    Institutional Investors & Banks      High Net Worth Individuals 

 Support our APAC clients’ aspirations for growth  11  Retail / Affluent  HNWI / Corporate  UHNWI / Institutional Investors  Advisory / Wealth / Sophisticated solutions  Transaction banking / Treasury solutions   Capital markets / Institutional trading / Lending     Integrated wealth and corporate coverageDeep client relationshipsFocused regional footprintAddress complex range of private wealth / corporate needs  Opportunity  Clients  Strategy                    Integrated capabilities target nexus of wealth and business needs  Asia Pacific  CS  October 21, 2015 

 Sample UHNWIs Client Group  Client Example: CS business built on extension of deep relationships via integrated delivery  12  Opportunity  Clients  Strategy  Relationship through multiple generations has supported wealth growth and stabilityAdvisory and solutions have enabled growth in multiple business interests      UHNWI Family  Wealth Advisory  Corporate Advisory  Private Banking Services  Capital Markets Solutions  Bespoke Financing  Investor Access  CS    2012  2013  2014  85  95  110    Client Revenue (USD mn)    CAGR+14%    Global Connectivity    Investment Ideas  84  93  110  2012  2013  2014  October 21, 2015 

  WHAT DIFFERENTIATES CREDIT SUISSE?  13  “Swiss-ness stands for high standards, precision and discretion” – Japan  “One Bank platform differentiates CS from other banks” – China, India  “Private Bank lending and distribution helps Investment Banking deals” – Hong Kong  Our clients value CS’ platform, solutions and longevity  Opportunity  Clients  Strategy  “CS have shown that by understanding my personal needs and my business needs, they can develop solutions aligned with my long term goals ” – Singapore  “CS is my partner, as my business and wealth have grown, so they have grown with me ” – South East Asia      October 21, 2015 

 Client Example  14  Capital Markets  Syndicated Loans  M&A  Opportunity  Clients  Strategy  “Credit Suisse is our trusted strategic advisor that understands our needs and business culture”  2015  2012  2012  US$500mn investment alongside other investors in  CS Exclusive Financial Advisor  ~US$7.6bn transaction with   CS Lead Financial Advisor  ~US$2.5bn take-private of  Joint Financial Advisor  2015  2012  2014  ~US$1.6bnPrivate Placement of   CS Joint Placement Advisor  US$25bn Initial Public Offering  CS Left Active Bookrunner  ~US$4.3bn Private Placement of  CS Joint Placement Agent & Financial Advisor  2014  2012  2013  US$3bnRevolving Facility  CS Mandated Lead Arranger  US$8bnSyndicated Loan Facility  CS Mandated Lead Arranger  US$4bnSyndicated Loan Facility  CS Mandated Lead Arranger  October 21, 2015 

 Agenda  APAC Market Opportunity   1  Growing the Trusted Entrepreneurs’ Bank   2  Ambition and Initiatives   3  15  October 21, 2015 

   Our Strategy accelerates growth in Asia Pacific region  1) RoC calculated using income after tax, assuming tax rate of 30% and capital allocated on the higher of 10% Basel III yearly average risk-weighted assets or 3.5% yearly average leverage exposure; 2) PB only, AM excluded   16  Track-record of Profitability (Pre-Tax Income)  Continued Growth in U/HNWI NNA2)  Focused strategy and increased investment targeted at key Entrepreneur & Investor clientsDifferentiated delivery with integrated coverage, solutions and financingConsistent culture of compliance and controls  1  3  2    >2x  Opportunity  Clients  Strategy  2.1  1.2  0.9  0.8  ~25  October 21, 2015  444  492  ~800  524  2013  2014  9M15  Ambition2018  RMs  CHFbn  CHFbn  ~20%+  30%  RoC1)    >1.5x  2013  2014  9M15  Ambition2018 

   Grow stable revenue sources across broad portfolio    Opportunity  Clients  Strategy  Revenue Growth 2014 to Ambition 2018  17  Deepen existing client relationshipsExtend CS reach to next tier of wealth and target next generation large cap clientsProvide comprehensive support across clients’ financing needs, e.g. Personal, Business, Family OfficeDrive product innovation, e.g. Digital Private Bank, Real Estate Finance, Portfolio solutions, EQ structured funds  InstitutionalInvestors  Ambition2018  Entrepreneursand U/HNWI  2014    October 21, 2015 

   Grow profitability by extending successful model across APAC(1/3)  18  Deepen existing relationships  Higher cross-sellClient Revenue / AuM  Improved asset productionTotal AuM / RM  Leading UHNWIs Sample  All UHNWI clients    LeadingSample   All PBAPAC  October 21, 2015  I  Opportunity  Clients  Strategy   

   Grow profitability by extending successful model across APAC(2/3)  19  Increase activity with next generation of clients  Sales growth# RMs  U/HNWI Lending   2018  2014    2018   2014  October 21, 2015  II  Opportunity  Clients  Strategy   

   Grow profitability by extending successful model across APAC(3/3)  20  October 21, 2015  Driving integrated delivery  III  Opportunity  Clients  Strategy  Regional empowerment  Product investment and bundlingPrioritize capabilitiesReduce duplication   Execute closer to clientsImprove speed to marketStrong risk and controls  Coverage driven by clientMerge teams for key accountsManage-out non-target clients 

 Targeted growth strategies across key markets  21  Pre-tax Income  Revenues  Ambition Current      SEA        Greater China            Japan  Korea  Australia  India  Defend and grow leading franchiseDeepen penetration of bespoke solutions with existing entrepreneur clientsExpand to next tier of wealth and build pipeline of next generation mid-to-large cap clientsAccess frontier markets opportunity (VN, TH, MY)  SEA  Invest across Greater China marketsFocus on significant number of rising Entrepreneurs Build-out China platform and presence onshoreTap global and regional institutional investor flows  G. China1)  Target market specific strategyAccelerate U/HNWI and Entrepreneurs’ growth with new hires, digital PB, integrated delivery, and financing solutionsAugment flow trading capabilities (AUS, KO, IN)Grow structured solutions and Equities access products (JP, KO, IN)  Rest of Asia2)  1) Greater China includes Hong Kong, China, and Taiwan2) Rest of Asia includes Japan, Australia, Korea, India  October 21, 2015  Opportunity  Clients  Strategy 

 22  Ambition to double pre-tax income by 2018    Opportunity  Clients  Strategy  Strong structural macro trends in APAC support growth and value creation for CS  Market Oppor- tunity  Client-centric model with proven track record that accelerates growth from a position of strength  Strategy  Integrated coverage and solutions a differentiator to helping clients achieve their goals  Clients  October 21, 2015  CS Asia Pacific - The Trusted Entrepreneurs' Bank 

  

 October 21, 2015  Credit Suisse Strategy International Wealth ManagementIqbal Khan 

 Disclaimer  October 21, 2015  2  The 3Q15 financial information is subject to further review We have not finalized our 3Q15 Financial Report and our independent registered public accounting firm has not completed its review of the condensed consolidated financial statements (unaudited) for the period. Accordingly, the 3Q15 financial information contained in this presentation is subject to completion of quarter-end procedures, which may result in changes to that information. Certain reclassifications have been made to prior periods to conform to the current presentation.The re-segmented financial information is preliminary and subject to further review Unless otherwise noted, this presentation contains certain historical financial information that has been re-segmented to approximate what our results under our new structure would have been, had it been in place from January 1, 2014. Such information is preliminary in nature and subject to review, evaluation and refinement, has not been audited or reviewed by our independent public accountants and can be expected to change in certain respects before any final re-segmentation is published. In addition, “Illustrative”, “Ambition” and “Goal” presentations are not intended to be viewed as targets or projections, nor are they considered to be Key Performance Indicators.  All such presentations 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 may not achieve the benefits of our strategic initiatives We 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.  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, 2014 and in “Cautionary statement regarding forward-looking information" in our second quarter 2015 Financial Report 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 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 (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 3 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. Leverage amounts for 4Q14, which are presented in order to show meaningful comparative information, are based on estimates which are calculated as if the BIS leverage ratio framework had been implemented in Switzerland at such time. 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.  Selling restrictions This document 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 the SIX Swiss Exchange AG or any other exchange or regulated trading facility in Switzerland or a prospectus 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. A decision to invest in securities of Credit Suisse Group AG should be based exclusively on a written agreement with Credit Suisse Group AG or an offering and listing prospectus to be published by Credit Suisse Group AG for such purpose.  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 U.S. persons (as defined in 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) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”) or (iii) 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. 

 Agenda  October 21, 2015  3  International Wealth Management  Shifting gears: Strategic priorities for superior growth  1  2  Conclusion  3 

 International Wealth Management Division  1 All metrics on the slide based on new organizational structure 2 AuM data rounded to nearest 10bn and including double-count for assets managed across businesses, predominantly global Wealth Management clients (IWM, Swiss UB and Asia Pacific) 3 Economist Intelligence Unit 4 McKinsey Wealth Pools; Note: AuM = Assets under Management; RoRC = Return on Regulatory Capital, calculated as worst of return on 10% of RWA and return on 3.5% of spot Swiss leverage exposure, assuming tax rate of 30% for all periods; 'UHNWI' = CHF >50mn AuM or total wealth >250mn; Premium HNWI = CHF >5mn AuM; Entry HNWI = CHF >1m AuM  October 21, 2015  4  UHNWI AuM share in Private Banking  Net revenues    Financials1   2014, CHF  Private Banking320bn  Assetmanagement 390bn2   Global relevance  Global share of …… Population3 41%… Wealth4 42%… GDP3 42%    Pre-tax income  AuM  4.8 bn  57%      Private Banking  Asset Management    1.3 bn  38%  62%    63%  37%  Clients     Family officesExternal Asset ManagersInstitutional clients  UHNWI and premium HNWI clientsEntrepreneursEntry level HNWI clients  RoRC  27%  2014, CHF  APAC  28trn  North America  CH 3%  42%  21%  34%  International12trn   

 A leading international franchise of CHF 320bn AuM with attractive growth outlook in Private Banking  1 Credit Suisse and McKinsey Wealth Pools 2015 2 Ranking as per Euromoney Magazine Survey 2015 for 'Best Private Banking Services Overall' 3 All metrics on the slide based on new organizational structure 4 Central and Eastern Europe 5 Excluding Switzerland; Note: AuM data rounded to nearest 10bn; Revenues data rounded to nearest 10mn; all metrics on the slide based on new organizational structure  5  Latin America  Middle East  Russia and CEE4  Western Europe5  Emerging Markets  Mature Markets  Western Europe regularization impact coming to an end after 2012 peak  Regularization  Credit Suisse3 2014, CHF  Net revenues  Assets under management          690mn  560mn  520mn  1,180mn  80bn  70bn  40bn  130bn  Share of UHNWI clients  66%  41%      MarketCAGR, 2015 though 2018  Estimated growth rate1  7%  10%  10%  4%          Credit Suisse ranking2  #2  #1  #1  #3          5  October 21, 2015 

   Western European regularization impact peaked in 2012Residual Western Europe cross-border outflows primarily relate to tax program in progress in ItalyAsset regularization and client mix shift adversely impacted recurring margin  Outflows due to regularization in Western Europe close to finalization  Regularization outflows in IWM1, CHF bn    9M15  2014  2013  2012  2011  1 Includes Non-Strategic unit. Outflows in 2011, 2012 and 2013 represent Western European cross-border outflows and outflows in 2014 and 9M15 represent outflows related to regularization across all regions; Note: IWM = International Wealth Management   October 21, 2015  6 

 A leading Swiss and alternative franchises in Asset Management  October 21, 2015  7  1 Distribution view 2 Wealth Management Clients 3 Towers Watson Survey 2014 4 Morningstar Swiss Fund Data 2014 5 See next page for references ; Note: AuM data rounded to nearest 10bn and including double-count for assets managed across businesses, predominantly global Wealth Management clients (IWM, Swiss UB and Asia Pacific); Revenues data rounded to nearest 10mn  Key MetricsCHF, 2014   Hubs  Market position  Assets under Management  Net Revenues  1,300mn  500mn   Credit Suisse’s WMC1,2   Alternative Investments  Traditional Investments  Zurich, New York and Singapore      Top 2 traditional Asset Manager in Switzerland3 Largest Institutional Fund Manger in Switzerland4  Top 5 alternative investments manager globally3Leading positions in some of the largest alternative asset classes5  130bn  260bn      21%  37%     

   October 21, 2015  8  ProprietaryInsurance Linked Strategies Top 26 Hedge FoFSecuritized Products  CreditLeader3   Other  Hedge Funds  CommoditiesTop 54   130bn  Product split, % of 2014 AuM  Equities  Multi-asset class solutions  ICBC Joint Venture   Index Solutions  Premium mandatesPrivate mandatesInstitutional accessMulti-asset class solution funds   260bn  FixedIncome  Traditional InvestmentsTailored investment solutions for our clients    Alternative InvestmentsCompetitive offerings across liquid and illiquid strategies    Real EstateTop 35   3rd PartyYork CapitalVerdeQatar JV  Product split, % of 2014 AuM  Asset Manager with broad range of capabilities  1 Towers Watson Survey 2014; 2 Morningstar Swiss Fund Data 2014; 3 Leading non-investment grade credit franchise (eVestment data as of 6/30/2015 for CIG - Senior Floating Bank Loans); 4 Top 5 commodities asset manager (Towers Watson Survey 2014); 5 Top 3 European property fund manager (INREV/ANREV Fund Manager Survey 2014); 6 Top 2 insurance-linked asset manager globally (Trading Risk Top ILS Fund Managers 2015); Note: AuM data rounded to nearest 10bn and including double-count for assets managed across businesses, predominantly global Wealth Management clients (IWM, Swiss UB and Asia Pacific)  Top 2 traditional Asset Manager in Switzerland1Largest institutional Fund Manager2  

 Agenda  October 21, 2015  9  International Wealth Management  Shifting gears: Strategic priorities for superior growth  1  2  Conclusion  3 

 October 21, 2015  10  Consistently deliver client value Further add value to clients' portfolios Address sophisticated client financing needs  Client value  Shifting gears: Strategic priorities for superior growth   Client proximity  Capture market share and wealth creation Enhance proximity Digitize experience for lower wealth band clients  Client time  Bring decision-making closer to point of adviceIncrease client face time  Goals  Actions  Integrate coverage (PB, IBD and AM)Leverage our investment engine and build out Asset Management capabilitiesExpand multi-collateral lending  Grow sales forceExpand ‘Hub and Spokes’ selectivelyIntroduce new service model  Simplify and de-layer organizationInvest in technology and automation        Note: PB, IBD and AM refer to general banking functions, defined as private banking, investment banking department and asset management  

 October 21, 2015  11  Capture revenue potential through integrated client coverage  1 By share of collaboration revenues; Note: Numbers reflect ambition    Upside potential  Incremental revenue opportunity  Deal referrals1   Current Average  Asia-Pacific Benchmark  Revenue potential of CHF 200-300mn p.a.    Build-out dedicated, fully accountable managerial platform for UHNWI clientsFocus on client lifecycle and long-term relationshipReplicate successful APAC coverage model and ensure global connectivity for international UHNWI clientsOriginate deals through IWM-led coverage (pilot in Israel)Widen access and increase penetration of key servicesIntegrate teams of RMs and specialists to institutionalize the investment value chain   Integrated client coverage goals  x3   

 Examples of integrated coverage delivering superior client value  October 21, 2015  12  Pooling sell- and buy-side    Supporting a divestiture      Maximization of priceAccess to tailored investment opportunity Attractive refinance structuring  Collaboration benefits    Collaboration benefits    Seller   Real Estate Fund  Buyer   UHNWI  Need   Auction of investment property in London   GBP 90mn  Seller   International tycoon  Buyer   Omani and Russian UHNWIs  Need   Sale of steel and yacht company    USD >100mn  Sourcing of potential buyers through network in midst of market crisis   Proceeds from deals re-invested in tailor-made investment opportunities  Fast execution 

 October 21, 2015  13  Understand market  Understand market  Direct Investments  Credit Suisse Invest(Advisory mandates)  Proprietary Funds  Discretionary Mandates(e.g. Institutional Access, Premium Mandates)  Investment Advisory  Risk profile    Investment solutions tailored to client needs in key markets  Investment Strategy and Research  Investment Products  Global macroeconomic viewRegional market expertiseStrategic Asset Allocation  Understand client  Understand market  Deploy solutions    Note: simplified view  Add value to clients’ portfolios by leveraging our investment engine...  Client specific advice  Advisory process  Wealthplanning 

 ...and further build out Asset Management capabilities   October 21, 2015  14  Strategic pillars    Products  Capture upside in product suite expansionFocus on delivering global institutional-quality solutions with strong investment performance  Markets  Leverage global reach (directly, through IWM, third-party, Joint Venture)Continue international build-out with focus on emerging markets  People  Attract top talent as boutique platform Encourage entrepreneurship and internal mobility   Clients  Serve Credit Suisse's clients as well as third-party distributorsFurther align offering and service to client needs  Note: IWM = International Wealth Management 

   Capture upside by expanding product suite  October 21, 2015  15  Note: Mandate penetration = AuM related to mandates / total AuM; numbers reflect ambition  Mandate penetration opportunity  Product Suite Expansion goals    Expand multi-service connectivity platform to 3rd party banks, Family Offices, Private Label Funds and Asset Managers Provide expertise and scale for processing, product solutions, custody services and direct market access (e.g. pre-trade and limit checks)  Alternatives  Expand hedge funds range (e.g. Systematic Market Making Group)Widen Private Equity offering with funds in Fintech (e.g. NEXT)Offer liquid alternative products and managed futures (e.g. CS Eagle)  Mandates  Capitalize on Credit Suisse Invest success to launch similar solutions tailored to regionsRollout dedicated advisory offering for UHNWI (e.g. Signature Managed Accounts)  Traditional  Grow active Equities driven by HOLT, active Fixed Income driven by unconstrained and absolute returnOffer products tailored to individual client needs (e.g. thematic investments, protection features)  B2B    Upside potential  CurrentAverage  Penetration Ambition    x1.5 

   October 21, 2015  16  Address sophisticated financing needs building on good track record    1 For IWM business as of 2Q15, based on new organizational structure 2 Credit Volume / AuM; Note: Numbers reflect ambition    Lending volume and penetration  2018 Ambition  2014  CHF bn  Lendingpenetration2  12%  15%      +44%  +3pp  Good track record in delivering against lending opportunity  Sophisticated needs in UHNWI/Entrepreneur segmentDeepens client relationship and attracts new assetsCaptured UHNWI loan volume growth: +26% since 20131Proven expertise in loan structuring and risk management  Invest additional resources and broaden capabilities  Allocate additional CHF 6bn RWA to lending by end of 2018Broaden range of collateral, e.g. local collateral, illiquid assetsManage and optimize multi-collateral loans portfolioBuild on specialty finance, e.g. Ship and Aviation finance for UHNWI clients   

 Sample structured lending and specialty finance transactions  October 21, 2015  17    Structured lending  Solution to book share-backed loans for client on the local branch platform EUR 300mn 3yr loan facility against local stockBenefit: attracted substantial assets  Need   Single-stock lending, booked onshore  Client  High profile European UHNWI family    Specialty financing  Soft covenant provided (USD 6mn AuM)Deepened relationship: USD 200mn NNA after financing  Low AuM and no ship finance relationship beforePost transaction, client brought USD 130mn NNAAdditional USD 90mn ship financing in pipeline  Client  Need   Two private aircrafts financing  Emerging market UHNWI family  Client  Need   First private ship financing  Emerging market UHNWI client  Lending...  ...against local collateral  USD 30 mn  USD 30 mn                                                                                                                       

   Capture market share and wealth creation by growing sales force  October 21, 2015  18  1 2011 and 2014 figures pro-forma restated for comparability purpose; headcount reduction between 2011-2014 includes impact of assets regularization and excludes divestitures 2 From targeted hires until 2018, assuming linear RM hiring 3 Total revenues in 2018 of new hires, assuming linear RM hiring and an average gross margin of ~80 bps; Note: RM = Relationship Manager; numbers reflect ambition  Increase RM headcount by ~25%  2018 Ambition  ~1’400   2014  ~1’1001  2011  1’4001  Relationship Manager (#)    +300 RMs  ~30bn  Cumulative net new assets over 3 years2   ~230mn  Revenues in 20183   Illustrative impact of new hires, CHF      Mature Markets  Emerging Markets  Reduction until 2014 due to franchise repositioning (small markets exit, sale of Germany onshore and affluent network in Italy)Going forward, shifted focus on growth and RMs hiring in both UHNWI and Premium HNWI segmentMajority of hires (>200 RMs) planned in Emerging Markets Achieve increase throughBuild-out of existing successful strategic hiring teams Continuation of 'Grow your own' Extension to additional pools, e.g. professional services firmsRetention measure to lower attrition rate 

 Focus on key markets with strong growth and high ability to win  October 21, 2015  19  Key markets  1 McKinsey Wealth Pools (BCG Global Wealth Report for Sub-Saharan Africa), rounded figures 2 Central and Eastern Europe 3 Euromoney Magazine Survey 2015  Wealth Pools1  Size’15 (bn)  %UHNWI ‘15  Expected CAGR’15-’18  Market attractiveness and ability to win  Russia & CEE2  Latin America  Western Europe  Sub-Saharan Africa  Middle East  Saudi ArabiaQatarUAE  BrazilMexico  Russia  GermanyUnited KingdomSpain and Italy  South AfricaNigeria  710270300  560510  480  1,1901,2801,200  300  30-35%  25-30%  40-45%  20-35%  40-50%  11%12%8%  6%7%  10%  2%4%2%  14%  Leverage number one position in the market3Tap new opportunities, e.g. onshore Saudi Arabia  Markets represent 60% of regional wealth pool Solid footprint in UHNWI and Premium HNWI  Attractive growth outlook despite economic challengesLeading position in Brazil onshore  Leverage number one position in the market3Opportunity to capture potential of wealth globalization  S. Africa and Nigeria represent ~75% of regional wealthSignificant potential in core UHNWI segment           

 October 21, 2015  20    Western Europe  Latin America    Hubs    Spokes                                                                                                                        Brazil  Bahamas    Mexico  Venezuela  Peru  Panama  Uruguay  Chile  Colombia                    CH        Bahamas, US and CH as main hubs for Latin America                                                                                                                                                                                                                                                                                      Saudi Arabia  Russia  Bahrain  Dubai  Lebanon  Turkey  Israel  Qatar  Abu Dhabi  Egypt  South Africa                          CH        UK    UK, CH and SG as main hubs   Three hubs  Three hubs  Set up new advisory offices, e.g.NetherlandsSweden  Expand in growth markets, e.g.Brazil, with additional onshore locationsReposition US Latam booking center  Expand footprint and explore new areasSaudi Arabia, with onshore expansionSub-Saharan Africa  Middle East, Africa, Russia and CEE1                                                                                                       Italy  CH  Lux.  UK  Portugal  Netherlands  France  Germany                            Spain  Greece        Sweden    Three hubs        Leverage 'Hub and Spokes' to enhance client proximity    Technology investments geared to hubs; unprofitable booking centers to be transitioned            Singapore        US  1 Central and Eastern Europe   

 October 21, 2015  21    Digitize service model for lower wealth band clients  New offering focused on clients with <5m AuM, providing full transaction and self-service capabilitiesAttractive client proposition, combining highly convenient delivery with distinctive international investment offerMulti-channel service (RM and digital) focusing on investment adviceDigitally enabled RM-client interactions (e.g. video chats) and Swiss-based advisory center to provide specialist adviceEnhanced productivity and efficiency, through combination of client activation and cost savings from automation  2.43  Selected illustrations of digital offering  Note: RM = Relationship Manager 

 October 21, 2015  22  Simplify and de-layer the organization to enable faster decision-making and shorter time to market  To      Executive Board  Clients                  Executive Board  Clients        Multi-layer organization with regional duplications  Integrate regional and business management structures  Distance from the client with multiple approval/review steps in business processes  Allow faster decision-making and shorter time-to-market for clients  Front-line with limited accountability over indirect cost base  Increase front accountability over indirect cost base  From  Planned CHF ~200mn gross cost savings by end 2018 to contribute to overall growth investments of CHF ~0.6bn  Note: Numbers reflect ambition 

   October 21, 2015  23  Increase client face time by investing in technology and automation    Free-up RM time to spend with clients  Ambition  Average RM time allocation (indicative)      Other tasks  Client time    Digital solutions to enhance RM productivity  RM Workplace and Ecosystem  Enhanced client book analytics  'Single place' with required tools, e.g. Planning Center, Workflow dashboardReduced administrative burden in day-to-day work and discussions with client  Easy-to-use tools to run client book analysis to drive sales excellence Holistic view on overall relationship  Note: Numbers reflect ambition; RM = Relationship Manager 

 Agenda  October 21, 2015  24  International Wealth Management  Shifting gears: Strategic priorities for superior growth  1  2  Conclusion  3 

 International Wealth Management – Key messages  October 21, 2015  25  Ambition  A leading Private Bank with strong growth outlook  Attractive Asset Manager with broad product capabilities   Three strategic priorities  Deliverclient value  Enhanceclient proximity  Increaseclient time  Aim to grow our revenues by 30%, increase PTI by >50% and raise return on regulatory capital from 27% to > 30% by end of 2018  Covers Emerging Markets (Latin America, Middle East, Russia and Central & Eastern Europe) as well as Western Europe1 Balanced portfolio with attractive growth outlook and strong market positions across all regionsIn 2014, managed CHF 320bn AuM, delivering CHF 3.0bn of revenues  Top 5 Alternatives manager globally and Top 2 Traditional asset manager in Switzerland2Broad range of product capabilities providing tailored solutions to our own clients and third partiesIn 2014, managed CHF 390bn AuM, delivering CHF 1.8bn of revenues   Integrate coverage of private banking, investment banking and asset management to deliver client value Leverage our investment engine to further add value to clients' portfoliosExpand multi-collateral lending to address sophisticated client financing needs   Grow sales force to capture market share and wealth creationExpand 'Hub and Spokes model' to enhance footprintIntroduce a new service model to digitize the experience for lower wealth band clients   Simplify and de-layer organization to bring decision-making closer to point of adviceInvest in technology and automation to increase client face time  1 Excluding Switzerland 2 Towers Watson Survey 2014; Note: All metrics on the slide based on new organizational structure; return on regulatory capital is calculated as worst of return on 10% of RWA and return on 3.5% of spot Swiss leverage exposure, assuming tax rate of 30% for all periods 

   International Wealth Management is shifting gears for growth  October 21, 2015  26    Ambition by end of 2018    Note: Numbers reflect ambition; indicative growth rates; RoRC = Return on Regulatory Capital, calculated as worst of return on 10% of RWA and return on 3.5% of spot Swiss leverage exposure, assuming tax rate of 30% for all periods; All metrics on the slide based on new organizational structure  Deliverclient value  Enhance client proximity  Increase client time  Grow revenues  Raise RoRC  Increase pre-tax income  2014  2018 Ambition  >50%  +30%  +6 p.p.  CHF bn 

  

 October 21, 2015  Credit Suisse StrategyGlobal MarketsTim O’Hara 

 Disclaimer  October 21, 2015  2  The 3Q15 financial information is subject to further review We have not finalized our 3Q15 Financial Report and our independent registered public accounting firm has not completed its review of the condensed consolidated financial statements (unaudited) for the period. Accordingly, the 3Q15 financial information contained in this presentation is subject to completion of quarter-end procedures, which may result in changes to that information. Certain reclassifications have been made to prior periods to conform to the current presentation.The re-segmented financial information is preliminary and subject to further review Unless otherwise noted, this presentation contains certain historical financial information that has been re-segmented to approximate what our results under our new structure would have been, had it been in place from January 1, 2014. Such information is preliminary in nature and subject to review, evaluation and refinement, has not been audited or reviewed by our independent public accountants and can be expected to change in certain respects before any final re-segmentation is published. In addition, “Illustrative”, “Ambition” and “Goal” presentations are not intended to be viewed as targets or projections, nor are they considered to be Key Performance Indicators.  All such presentations 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 may not achieve the benefits of our strategic initiatives We 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.  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, 2014 and in “Cautionary statement regarding forward-looking information" in our second quarter 2015 Financial Report 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 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 (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 3 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. Leverage amounts for 4Q14, which are presented in order to show meaningful comparative information, are based on estimates which are calculated as if the BIS leverage ratio framework had been implemented in Switzerland at such time. 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.  Selling restrictions This document 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 the SIX Swiss Exchange AG or any other exchange or regulated trading facility in Switzerland or a prospectus 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. A decision to invest in securities of Credit Suisse Group AG should be based exclusively on a written agreement with Credit Suisse Group AG or an offering and listing prospectus to be published by Credit Suisse Group AG for such purpose.  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 U.S. persons (as defined in 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) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”) or (iii) 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. 

 3  Connection with the WM business  1  Invest where direct support to Wealth ManagementProtect business with indirect connectivity  Targeted and rational approachApply three criteria to determine businesses to be right-sized  Profitability  3  Capital usage  2  Keep any business that delivers returns in excess of cost of capital  Focusing on real binding constraint – ‘worst of RWA or Leverage’ Improve capital productivity  Right-sizing approach  Right-sizing the Current Investment Banking Division: Our approach  IWM = International Wealth Management  October 21, 2015 

   4  Global Markets: Where We are Today    Leverage Exposure, in CHFbn  Risk weighted assets, in CHFbn  Despite significant reductions, still big relative to Group…Exposing Group to greater volatility of earnings and underserving areas of growth    3Q15 (pre-SRU)1  2014(pre-SRU)1  2014(pre-SRU)1,2      Group  Global Markets      Global Markets  Group  40%  40%  48%  43%  1 Figures do not reflect the incremental transfer of any businesses or positions to the Strategic Resolution Unit; 2 Reflects Swiss Leverage Exposure Note: Global Markets consists of the following product areas: Cash Equities, Equity Derivatives, Prime Services, Securitized Products, Credit Products, Emerging Market Products, and Macro Products. All Global Markets figures exclude the portion included in the Asia Pacific division or Swiss Universal Bank.   3Q15 (pre-SRU)1  1,198  1,045  Note: This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015.  October 21, 2015 

 Global Markets: Connectivity with the Group  5  Global Markets is an important differentiator to IWM clientsExecution and clearing services for flow productsStructured solutions and share backed lendingAccess to markets and geographies  Strategic focus  Product  Connectivity to IWM  Cash Equities  Equity Derivatives  Prime Services  Securitized Products  Credit Products  Emerging Markets  Macro Products  High  High  Medium  Low  Medium  High  Medium  Access to markets and geographies, new issue product  Share backed lending, structured notes, retail products  Investment grade, high yield & leveraged loan new issue product  Structured financing  Prime Services for UHNWI, Futures, Clearing Services  Leading, highly profitable franchise  Foreign exchange  UHNWI = Ultra High Net Worth Individuals  October 21, 2015 

 Global Markets: Competitive Standing & Ambition  6  Product  CashEquities  EquityDerivatives  PrimeServices  CreditProducts  EmergingMarkets  SecuritizedProducts  MacroProducts  Competitivestanding  Competitive ambition  #3  Top 3  #2  Top 3  #3  Top 3  #2  Top 3  Top 5  Top 3  #5  Top 3  >10  Niche  Approach  Strategic focus  Invest  Electronic trading and content delivery  Key clients   Inst Investors,Corporates  Invest  Partnership with IWM, virtual asset management products  Corporates, Inst Investors, UHNWI  Optimize  Access products and attachment pointfor key clients  Inst Investors   Optimize  Leading position with focus on synergieswith IWM  Inst Investors,Corporates  Optimize  Traditional strength in leveraged finance and alignment with IBD  Inst Investors, Corporates, Sponsors  Optimize  Traditional strength in emerging and frontier markets and alignment with IBD   Inst Investors, Corporates, SWFs, UHNWI  Scale back  Capital light and electronic, risk facilitation capabilities  Corporates, Inst Investors, SWFs  Note: SWFs stands for Sovereign Wealth Funds. Competitive standing data is sourced as follows: Oliver Wyman 2014: Equity Derivatives and Prime Services. Coalition 1H2015 Global Revenue: Cash Equities, Securitized Products, Credit Products, Emerging Markets and Macro Products.  October 21, 2015 

   7  Global Markets  Cash Equities  Equity Derivatives  Prime Services  Securitized Products  Credit Products  Emerging Markets  Macro Products  Resource Management (balance sheet, RWA, collateral, liquidity)  Platform  Content (Research, HOLT)  Culture    Creating a Profitable, Efficient, and Integrated Markets Business  Clients  October 21, 2015 

 Optimizing Resources in Macro and Prime  8  Scale back product offering and simplify operating platformLarge scale reduction in EuropeFocus resources (RWA and leverage) on Americas platformMaintain risk facilitation capabilities aligned to internal/key client requirements  Maintain leading product capability while optimizing the balance sheet and focusing on key clientsContinue to re-price leverage Further enhance returns by investing technology to streamline platform  Market structure and regulatory changes require us to run the businesses differently  Niche player with focus on Americas  Serve as attachment point for broader Global Markets franchise with goal of being top 3 with key clients   Strategy  Actions  Prime  Macro  October 21, 2015 

 9  Prime’s Client Base a Key Driver for Revenue Growth  10.7% CAGR  Source: McKinsey Global Asset Management Growth Cube  Alternative Investments Global Assets Under Management, in USDtr  October 21, 2015 

 Global Markets Outlook - Equities  10  Emerging vs. Developed Markets Equity Market Capitalization to GDP Ratio (%)  Source: IMF, Credit Suisse Research   EQ Markets’ 1yr Price Performance Post-Quantitative Easing Announcements   USQE 3(9/12)1  JPN QQE (4/13)1  US QE 2 (11/10)1  EMU-ECB QE (3/15)  Source: Thompson Reuters, Credit Suisse Research  CSForecasts  Emerging Markets  Developed Markets  UK QE 1 (3/09)1  USQE 1 (11/08)1  1 Dates represent month and year of QE announcement  October 21, 2015 

 Global Markets Outlook - Credit  11  US Default Rates  US High Yield Corporate Bond Issuance  US high-yield spreads (lhs)  US 12m trailing speculative default rates, 6m lag (rhs)    Moody's mid-2016 default rate forecast  Source: Thomson Reuters, Moody's  Source: SIFMA  Long-term High Yield Spreads  US high-yield spreads, bps  US high-yield spread, ex energy & utilities, %  Average high-yield spread  Average default rate and high-yield spread  Source: Thomson Reuters  USD bn  %  %  %  %  %  %  %  %  %  October 21, 2015 

 850  750  650  550  450  350  250  150  Credit Complex Performance Over-the-Cycle  12  Source: S&P Capital IQ Leveraged Commentary & Data, Thompson Reuters  Leveraged Finance Primary Issuance vs. Default Rates & High Yield Spreads  Credit and Securitized Products Revenue Volatility1      45  27  93  10  12  3  16  1 Volatility measured as monthly standard deviation.  # of trading day losses  USDbn  bps    Leveraged Finance Primary Issuance ($bn, rhs)  High Yield Spreads (bps, lhs)  Default Rates (bps, lhs)  Standard Deviation  October 21, 2015 

       13  Leverage Exposure, in CHFbn  Risk weighted assets, in CHFbn  Target2  3Q15(Pre SRU)1      Group  Global Markets  40%  25%  Target2      Group  Global Markets  43%  35%  Global Markets: Our Return Profile Ambition  29%  2015 YE  35%  3Q15(Pre SRU)1  1 Q3 2015 figures do not reflect the incremental transfer of any businesses or positions to the Strategic Resolution Unit; 2 CHF equivalent of Group targets, assumes a rate of 0.93455 Note: Global Markets consists of the following product areas: Cash Equities, Equity Derivatives, Prime Services, Securitized Products, Credit Products, Emerging Market Products, and Macro Products. All Global Markets figures exclude the portion included in the Asia Pacific division or Swiss Universal Bank.   2016 YE2  Group Targets for Global Markets  RWA: ~USD $83-85bn by end 2015; held flat thereafter until end 2018Leverage Exposure: ~USD 380bn by end 2015; USD 370bn in 2016 - 2018   Note: This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015.  October 21, 2015 

 14    Our Ultimate Goal…         CLIENTSBe the preeminent client-focused Global Markets Franchise  SHAREHOLDERSBe the most profitable Global Markets franchise in the client business   EMPLOYEESBe the Global Market Franchise where the best talent wants to be  Drive superior returns and attain leading share with key clients  Provide Market-leading Research, Distribution, Execution and Prime capabilities  Attract and Retain the Best and Brightest Professionals  Generate Resilient Pre Tax Income through all cycles  Meet the Highest Legal, Ethical, Operational & Reputational Standards of Conduct  October 21, 2015 

  

 October 21, 2015  Credit Suisse StrategyInvestment Banking & Capital MarketsJames L. Amine 

 Disclaimer  October 21, 2015  2  The 3Q15 financial information is subject to further review We have not finalized our 3Q15 Financial Report and our independent registered public accounting firm has not completed its review of the condensed consolidated financial statements (unaudited) for the period. Accordingly, the 3Q15 financial information contained in this presentation is subject to completion of quarter-end procedures, which may result in changes to that information. Certain reclassifications have been made to prior periods to conform to the current presentation.The re-segmented financial information is preliminary and subject to further review Unless otherwise noted, this presentation contains certain historical financial information that has been re-segmented to approximate what our results under our new structure would have been, had it been in place from January 1, 2014. Such information is preliminary in nature and subject to review, evaluation and refinement, has not been audited or reviewed by our independent public accountants and can be expected to change in certain respects before any final re-segmentation is published. In addition, “Illustrative”, “Ambition” and “Goal” presentations are not intended to be viewed as targets or projections, nor are they considered to be Key Performance Indicators.  All such presentations 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 may not achieve the benefits of our strategic initiatives We 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.  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, 2014 and in “Cautionary statement regarding forward-looking information" in our second quarter 2015 Financial Report 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 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 (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 3 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. Leverage amounts for 4Q14, which are presented in order to show meaningful comparative information, are based on estimates which are calculated as if the BIS leverage ratio framework had been implemented in Switzerland at such time. 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.  Selling restrictions This document 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 the SIX Swiss Exchange AG or any other exchange or regulated trading facility in Switzerland or a prospectus 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. A decision to invest in securities of Credit Suisse Group AG should be based exclusively on a written agreement with Credit Suisse Group AG or an offering and listing prospectus to be published by Credit Suisse Group AG for such purpose.  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 U.S. persons (as defined in 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) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”) or (iii) 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. 

 Investment Banking & Capital Markets – Key messages  October 21, 2015  3  Business model has been optimized around profitability and returnsInstilling a disciplined capital approach has enhanced sustainabilityThe business is profitable with attractive returnsIBCM has significant connectivity with the UHNWI segment   Profitable Model with Attractive Returns  Positive Market Outlook  Ambition to Drive USD 750 mn of Growth  M&A has been very active with near record announcement levels; cycle is expected to continueStrong multiplier effect from M&A will drive more debt financing even if interest rates riseECM backlog continues to grow and stabilization in the equity markets expected to increase issuanceRegulatory headwinds remain low for advisory and capital markets businesses  Strategy is tailored across each client segment: corporates (IG and Non-IG), Sponsors and UHNWISelective investment in Managing Directors and capital where CS is well-positioned will expand our coverage footprintProduct mix shift to M&A and ECM will mirror expected Street activity and re-balance our portfolioInvestment plan is designed to continue delivering returns in excess of our cost of capital  Note: IBCM = Investment Banking & Capital Markets (advisory, debt and equity underwriting); UHNWI = Ultra High Net Worth Individuals; IG = Investment Grade; and Non-IG = Non-Investment Grade for this slide and the rest of the presentation. IG clients identified based on the S&P rating per Dealogic or internal CS rating. 

 Agenda  October 21, 2015  4  IBCM markets and positioning  Investing in IBCM  1  2  Our financial ambition and conclusion  3 

   IBCM has built a business model that delivers sustainable profitable growth  October 21, 2015  5  IBCM snapshot (Americas and EMEA), in USD millions  Source: Dealogic and CS internal reporting, where all numbers are shown pre- (Gross Revenues) and post- (Net Revenues and RoC) adjustments made for JV agreement with Securities for Americas and EMEA.Note: All data above excludes Switzerland. 2014 excludes Corporate Center charges. This slide presents financial information based on results under our current structure prior to our re-segmentation announcement on October 21, 2015. RoC (return on regulatory capital) calculated using income after tax, assuming tax rate of 30%, and capital allocated using worst of 10% of year-end Basel 3 risk-weighted assets or 3.5% of year-end leverage exposure, respectively. 2013 and 2014 calculated based on Swiss Leverage. Share of wallet = CS Dealogic fees / Street Dealogic fees for this slide and the rest of the presentation. Street fees and share of wallet based on IBCM addressable market in Americas and EMEA (ex. Swiss) only; excludes self- advised deals and non-core DCM products (investment grade loans, asset-backed and mortgage-backed securities, and govt. debt).  PTIRoC (RWA)RoC (Leverage)Share of Wallet  44522%NA5.7%  71326%33%5.6%    IBCM Gross Rev.    IBCM Net Rev.  2012  2013  2014 (New Structure)  61827%30%5.3% 

   October 21, 2015  6  Global RoE vs. peers  IBCM Global Capital Efficiency  IBCM has industry-leading capital efficiency and returns…  Source: BCG.Note: Capital efficiency calculation assumes loan commitments are 3 years; revenue is calculated as an average of fees for last 3 years (2012–2014). RoE calculation based on “standard approach.”   2014 Loan Book (USD bn)  75  120  125  65  230  165  270  220  280  2014 RoE  2014 Overall share of wallet      IBCM revenue/loan book - % 

   …but revenue growth has lagged the market resulting in loss of share of wallet  October 21, 2015  7  2012–2014 Global IBCM Fee CAGR  Source: BCG. Note: Excludes asset-backed, mortgage-backed and undisclosed revenue for all peers.  2014 fees (USD mn)  4,808   4,080   5,575   3,794   3,496   3,140   4,547   3,567   2,075   4,670   2014 Share of Wallet  7.4%  6.3%  8.6%  5.9%  5.4%  4.8%  7.0%  5.5%  3.2%  7.2%  Street CAGR: 9%   

 IBCM benefits from a favorable market outlook and limited regulatory headwinds  October 21, 2015  8  Products  M&A  ECM  Leveraged Finance  Investment Grade  Americas  EMEA      Regions  Market outlook  Regulatory impact            *                          *  * M&A related financing expected to increase in Lev Fin and Investment Grade markets    Favorable market conditionsSignificant M&A activity expected to continueHigher ECM backlog expected to support increased issuanceLBO activity expected to accelerateInvestment grade outlook is stableEMEA benefits from positive fundamentalsAttractive business model driving high returnsHigh quality, consistent, fee-based revenue streamsDisciplined capital usage with high returnsExpect limited impact from evolving regulatory environment   

   October 21, 2015  9  Strong fundamentals for M&A are expected to drive overall fee pool  Source: Oliver Wyman, Preqin.Note: As of Sept 2015 PE commitments have reached USD 487 bn. Unrealized portfolio value is based on total portfolio, including buyout and non-buyout; data as of Jun 2014.  M&A revenue as a percentage of gross world product, 1993 - 2014   End of year corporate cash holdings (USD bn, 2007 – 2014E)  OECD Business Confidence Index, Jan 2008 – Feb 2015, long run avg. = ~100   PE commitments and unrealized portfolio value (USD bn)  M&A activity as a share of the world economy  Business confidence levels in the US and Europe  US corporate cash holdings  Undrawn PE commitments and unrealized portfolio values 

 Agenda  October 21, 2015  10  IBCM markets and positioning  Investing in IBCM  1  2  Our financial ambition and conclusion  3 

       October 21, 2015  Client strategy is tailored to the specific market opportunity and CS positioning in each segment  IBCM share of wallet by client segment (2012-2014)  Street fee mix by client segment(2012-2014 ann. avg.)  Source: Dealogic as of 7/1/15. Note: Street fees and share of wallet based on IBCM addressable market in Americas and EMEA only; excludes self-advised deals and non-core DCM products (investment grade loans, asset-backed and mortgage-backed securities, and govt. debt). Sponsors segment includes fees generated by Financial Sponsors and Sponsor portfolio companies.  IG Corporates USD 13 bn  Non-IG Corporates USD 26 bn  SponsorsUSD 15 bn  11  Americas and EMEA only  Americas and EMEA only  11 

       October 21, 2015  12  Selectively deploying additional coverage resources against IG and Non-IG clients is expected to increase impact of corporate coverage  Expand Non-IG corporate footprint  Improve IG corporate coverage  CS Non-IG share of wallet(2012-2014)  Non-IG fee pool(2012-2014)  Source: Dealogic as of 7/1/15. Note: Street fees and share of wallet based on IBCM addressable market in Americas and EMEA only; excludes self-advised deals and non-core DCM products (investment grade loans, asset-backed and mortgage-backed securities, and govt. debt). Sponsors segment includes fees generated by Financial Sponsors and Sponsor portfolio companies. Covered clients are defined as clients that IBCM actively pursues business with and that pay >USD 5 mn per year in fees to the Street.  Uncovered<USD 5 mn fees/yr.  Covered Clients  Uncovered>USD 5 mn fees/yr.    IG corporates as a % of Street fees  IG fee pool(2012-2014)  Uncovered  Covered Clients    Americas and EMEA only  Americas and EMEA only 

       October 21, 2015  13  The plan leverages IBCM’s strong Sponsors franchise across all regions and products…  IBCM Sponsor share of wallet by product  Strong covered share of wallet with Sponsors  Americas  EMEA    Overall    Covered  7.3% SoW  5.9% SoW  9.8% SoW  USD 15 bnAnn. Avg. Street fees  Source: Dealogic as of 7/1/15. Note: Street fees and share of wallet based on IBCM addressable market in Americas and EMEA only; excludes self-advised deals and non-core DCM products (investment grade loans, asset-backed and mortgage-backed securities, and govt. debt). Sponsors segment includes fees generated by Financial Sponsors and Sponsor portfolio companies. Covered clients are defined as clients that IBCM actively pursues business with and that pay >USD 5 mn per year in fees to the Street.  (2012-2014)  (2012-2014)  Americas and EMEA only 

 …as well as our leadership position in Emerging Markets  October 21, 2015  14    Source: Dealogic. Rankings and fee data based on 2012 - 2015YTD as of 10/15/15. Note: Street fees and Rank exclude China A-shares, domestic APAC debt issuance, self-advised fees and non-core DCM (e.g. IG loans and MBS/ABS).1 Global M&A and IPO Activity to Accelerate Until 2017-18, Baker & McKenzie, June 2015.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Brazil#3  Colombia#2  Mexico #3  Russia#6  China#4  Indonesia#1  Singapore#3  India#10  Southeast Asia#1  Top 3 rank globally with leadership positions in the most attractive marketsM&A activity in the emerging markets is projected to grow dramatically, potentially by more than 50% by 20181 

 UHNWI as an additional IBCM client segment represents a meaningful untapped opportunity  October 21, 2015  15  USThe US has six times2 the number of UHNWI than that of the next highest country, ChinaExisting co-coverage pilot in Technology and Oil & Gas sectors has been successfulNew initiative will target early life cycle entrepreneurs and billionaires in growth sectorsCoverage model leverages existing infrastructure:Dedicated coverage team with seasoned bankers and Relationship ManagersIBCM, share-based lending and alternative investment productsEMEAContinue to capitalize on established collaboration, particularly in the Middle East, Switzerland and Russia  Source: Pitchbook, Forbes 2015 Billionaire list.Note: Street fees based on IBCM addressable market which excludes self-advised deals and non-core DCM products (investment grade loans, asset-backed and mortgage-backed securities, and govt. debt).1 Companies which meet IBCM size threshold of at least USD 5mn in annual average fees paid to the Street.2 Global Wealth Report 2015, Credit Suisse Research Institute, October 2015. Report defines UHNWI as individuals with wealth greater than USD 50 mn.  Privately-held companies in the US with >USD 250 mn valuation  # of Companies  Companies affiliated with Forbes US billionaire list by industry1  Average Annual Street fees (in USD millions)    20  12  8  10  23  9  7  6  # Co.’s:  8  5   

 IBCM strategy targets a product mix that is rebalanced towards M&A and ECM  October 21, 2015  16  Ambition: M&A and ECM at >50% of revenue by 2018  M&A and ECM expected to grow across regions  Note: Includes Americas and EMEA; excludes Switzerland.1 Excludes structured products.      ECM  Lev. Fin  DCM  M&A  M&A Revenue Growth Ambition  Illustrative IBCM Revenue Mix1  ECM Revenue Growth Ambition  +18% CAGR  +6% CAGR 

   IBCM is expected to continue to generate returns in excess of cost of capital  October 21, 2015  17  IBCM RoC (Leverage) Ambition  Cost of Capital (10%)  IBCM RoC (RWA) Ambition  Note: Includes Americas and EMEA; excludes Switzerland. RoC (return on regulatory capital) calculated using income after tax, assuming tax rate of 30%, and capital allocated using worst of 10% of year-end Basel 3 risk-weighted assets or 3.5% of year-end leverage exposure, respectively. 2014 calculated based on Swiss Leverage.   New Structure  New Structure 

 Agenda  October 21, 2015  18  IBCM markets and positioning  Investing in IBCM  1  2  Our financial ambition and conclusion  3 

 Investing in IBCM  October 21, 2015  19  UHNWI Clients  1  High connectivity with the UHNWI segment in the Americas and EMEAAbility to deliver banking products and investment opportunities to this sophisticated client base  Profitability  3  Aim to deliver sustainable, profitable growth through a rebalanced product mixSeek to grow IG and Non-IG corporate coverage while building on strong track record in leveraged finance and sponsors Goal: Continue to deliver returns in excess of cost of capital  Capital usage  2  Selectively use capital where CS is well positioned to benefit from the largest growth opportunitiesContinue to focus on capital efficiency and returnsLimited regulatory headwinds expected to continue 

 Goal: Drive USD 750 mn of incremental revenues in the Americas and EMEA while maintaining returns in excess of cost of capital  October 21, 2015  20  Action Items:Align coverage strategy with the largest growth opportunities where CS is well-positionedExpand coverage footprint with Managing Director hires Selectively deploy additional capital against IG and Non-IG corporatesRebalance product mix towards M&A and ECMLaunch new initiative for Ultra High Net Worth Individuals    Objectives:USD 750 million incremental revenue by 2018Returns in excess of our cost of capitalTop 5 share of walletBalanced product mix that drives sustainable, profitable growthTrusted partner to our largest clientsIncreased alignment and connectivity with UHNWI            