Credit Suisse : Shareholders approve all proposals put forward at the Annual General Meeting of Credit Suisse Group AG and elect António Horta-Osório as new Chairman of the Board of Directors

Media release

Zurich, April 30, 2021

Shareholders approve all proposals put forward at the Annual General Meeting of Credit Suisse Group AG and elect António Horta-Osório as new Chairman of the Board of Directors

Zurich, April 30, 2021 - The shareholders of Credit Suisse Group AG approved all of the proposals of the Board of Directors at today's Annual General Meeting (AGM) in Zurich. With a majority of 96.4%, António Horta-Osório was elected as a new member and Chairman of the Board of Directors alongside votes in favor of Clare Brady and Blythe Masters as new members of the Board of Directors for a term until the end of the next AGM. The other members of the Board of Directors proposed for re-election were confirmed in office for a term until the end of the next AGM. Furthermore, shareholders approved the distribution of a dividend of CHF 0.10 per share for the financial year 2020 with 50% being paid out of the capital contribution reserves and 50% from retained earnings. In addition, the Annual General Meeting approved the compensation of the Board of Directors and the fixed compensation of the Executive Board for the period from the 2021 AGM to the 2022 AGM and furthermore accepted the 2020 Compensation Report as updated.

At today's Annual General Meeting of Credit Suisse Group AG in Horgen, Zurich, shareholders approved all of the proposals put forward by the Board of Directors. All of the voting results, together with the speeches of Urs Rohner, outgoing Chairman of the Board of Directors, António Horta- Osório, newly elected Chairman of the Board of Directors and Thomas Gottstein, Chief Executive Officer, are available online at: www.credit-suisse.com/agm

António Horta-Osório, newly elected Chairman of the Board of Directors, commented:

"It is my firm ambition and determination, to listen into the organization and to engage in dialogue with all relevant stakeholders in order to get a deep understanding of our strengths and weaknesses. We need to foster a culture that reinforces the importance of risk management, ensures that we have the right incentives in place, including on remuneration, and focuses on personal responsibility and accountability. A culture where every single employee can be proud of what we stand for and how we act. The Board and I will do this together with the management team led by Thomas Gottstein. Thomas has the Board's confidence and I am looking forward to working with him and the Executive Team. A tough period and hard decisions lay ahead of us. There are no miracle quick fixes nor such things as infallibility. You have my personal commitment that I will work relentlessly with the Board and the management team to take on the challenges that lie ahead of us."

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Media release

Zurich, April 30, 2021

Election of the members of the Board of Directors and the

Compensation Committee

Changes to the Board of Directors

Having served the Board of Directors for the maximum standard term limit of 12 years, of which 10 years as Chairman, Urs Rohner did not stand for re-election. With a majority of 96.4% of the votes represented, shareholders elected António Horta-Osório as a new member and Chairman of the Board of Directors for a term until the end of the next AGM. Additionally, shareholders approved proposals put forward by the Board of Directors for the election of Clare Brady (88.5% of the votes represented) and Blythe Masters (82.8% of the votes represented) as new members of the Board of Directors for a term until the end of the next AGM. The members of the Board of Directors who were standing for re-election were confirmed in office for a further term of one year.

Composition of the Board of Directors as of April 30, 2021

Following the elections to the Board of Directors, Severin Schwan was re-appointedVice-Chair as well as Lead Independent Director for a term until the end of the next AGM.

The Annual General Meeting re-elected Iris Bohnet, Christian Gellerstad, Michael Klein and Kai S. Nargolwala as members of the Compensation Committee for a term until the end of the next AGM. The Annual General Meeting elected Blythe Masters as a member of the Compensation Committee for a term until the end of the next AGM. Kai S. Nargolwala will continue to serve as Chair of the Compensation Committee during this period.

	Member	Governance	Audit	Conduct and	Compensation	Risk Committee
	of the	and	Committee	Financial	Committee
	Board	Nominations		Crime Control
	since	Committee		Committee
António Horta-Osório1)	2021	Chair
Iris Bohnet1) 2)	2012				member
Clare Brady	2021		member	member
Christian Gellerstad	2019	member		Chair	member
Michael Klein	2018				member
Shan Li	2019					member
Seraina Macia	2015		member
Blythe Masters	2021				member	member
Richard Meddings1)	2020	member	Chair	member		Chair (a.i.)
Kai S. Nargolwala2)	2013	member		member	Chair	member
Ana Paula Pessoa2)	2018		member	member
Severin Schwan, Vice-	2014	member				member
Chair and Lead
Independent Director

1. Member of the Sustainability Advisory Committee
2. Member of the Innovation and Technology Committee

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Media release

Zurich, April 30, 2021

Approval of the compensation of the Board of Directors and the Executive Board and consultative vote on the 2020 Compensation Report

Approval of the compensation of the Board of Directors and the Executive Board Shareholders approve, on an annual basis, the compensation of the Board of Directors in a prospective vote for the period until the next ordinary AGM. Shareholders adopted the proposal to approve a maximum amount of compensation for the Board of Directors of CHF 12.0 million for the period from the 2021 AGM until the 2022 AGM with a majority of 82.4% of the votes represented.

Additionally, the shareholders, on an annual basis, approve the compensation of the Executive Board. Compensation may consist of: fixed compensation, short-term variable incentive compensation and long-term variable incentive compensation. As a result of recent significant developments in connection with the US-based hedge fund, the Board of Directors resolved to withdraw its proposals for variable compensation of the Executive Board, comprising short-term incentive compensation and long-term incentive compensation. Shareholders approved a maximum aggregate amount of CHF

31.0 million of fixed compensation for the Executive Board for the period from the 2021 AGM until the 2022 AGM with a majority of 90.6% of the votes represented.

Consultative vote on the 2020 Compensation Report

Consistent with our practice in prior years, the 2020 Compensation Report as updated, which is part of Credit Suisse Group AG's Annual Report, was presented to shareholders at the AGM for a consultative vote. Shareholders accepted the 2020 Compensation Report as updated, with a majority of 82.4% of the votes represented.

Appropriation of retained earnings and ordinary distribution of dividends payable out of retained earnings and capital contribution reserves

Distribution payable out of capital contribution reserves and retained earnings

As a result of recent significant developments in connection with the US-based hedge fund, the Board of Directors proposed a reduced total dividend of CHF 0.10 gross per registered share for the financial year 2020, which shareholders approved with a majority of 92.3% of the votes represented. 50% of the distribution will be paid out of capital contribution reserves, free of Swiss withholding tax and not subject to income tax for Swiss resident individuals holding the shares as a private investment, and 50% will be paid out of retained earnings, net of 35% Swiss withholding tax.

The reduced dividend will help to preserve our strong capital positon. Subject to the 2021 financial performance, the Board of Directors would intend to restore the dividend in 2021 before any resumption of share buybacks.

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Media release

Zurich, April 30, 2021

Other elections

Election of the independent auditors

With a majority of 95.7% of the votes represented, shareholders approved the proposal of the reelection of PricewaterhouseCoopers AG, Zurich, as independent auditors for a term of one year.

Further information

Biographies of the new Chairman and the new members of the Board of Directors

António Horta-Osório, born in 1964, is a citizen of both Portugal and the UK. He has been the Group Chief Executive of Lloyds Banking Group, the largest retail and commercial bank in the UK, until his election as Chairman at today's AGM. António Horta-Osório is a recognized financial services industry leader and has a long and successful career in international banking that spans over thirty years. He started his banking career in 1987 at Citigroup in Portugal, where he became Head of Capital Markets. From 1991 to 1993, he worked in corporate finance at Goldman Sachs in New York and London. In 1993, he joined Grupo Santander, where he held various management functions as Chief Executive Officer, developing and expanding the business successfully in various core countries, including at Banco Santander de Negócios Portugal, Banco Santander Brazil, at which he also held the Chair function, and Banco Santander Totta (Portugal). Following tenures as Executive Vice President of Banco Santander in Spain and Chief Executive Officer of Santander UK/Abbey, he assumed his current role at Lloyds Banking Group in 2011. Furthermore, António Horta-Osório served on the Court of Directors of the Bank of England from 2009 to 2011, in a personal capacity. In addition to his role with Lloyds Banking Group, António Horta-Osório currently serves as a non- executive director at Exor in the Netherlands, at Fundação Champalimaud in Portugal, Sociedade Francisco Manuel dos Santos in Portugal, and Stichting/Enable INPAR in the Netherlands, as well as Chairman of the Board of Trustees of the Wallace Collection in London and Chairman of BIAL, a privately held pharmaceutical company in Portugal. António Horta-Osório holds a degree in management and business administration from the Catholic University of Lisbon, as well as an MBA from INSEAD, and has completed an AMP from Harvard Business School. Following his election to the Board of Directors of Credit Suisse, António Horta-Osório will take up residence in Switzerland.

Clare Brady, born in1963, a British citizen, was Director of Internal Audit at the International Monetary Fund (IMF) from 2014 to 2017, and has been a member of the Audit and Risk Commission of the International Federation of Red Cross and Red Crescent Societies (IFRC) in Switzerland since 2020. In addition, she has been a non-executive member of the Board of Directors of Fidelity Asian Values in the UK since 2019 and a Trustee of The Golden Charter Trust in Scotland since 2020. She is a recognized expert in the areas of audit, compliance, and risk management, and can look back on a successful career spanning more than thirty years. She started her career in 1987 at the National Audit Office in the UK, followed by positions in Internal Audit for the Bank of New York, First National Bank of Chicago, Republic National Bank of New York and then as Chief Auditor for Safra Republic Holdings. In 2000, she assumed the role of Global Head of Compliance in the Private Banking area of HSBC. Thereafter she joined Barclays Capital as Global Head of Internal Audit, and subsequently worked as Head of Internal Audit at the Bank of England until 2005. During the period 2005 to 2009, she was Head of Group Audit for the UK and Asia Pacific at Deutsche Bank, and then Vice President and Auditor General of the World Bank Group until 2013. Clare Brady holds a bachelor's degree in economics from the London School of Economics and is a Chartered Governance Professional of the Chartered Governance Institute in London. Clare Brady lives in the UK.

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Media release

Zurich, April 30, 2021

Blythe Masters, born in 1969, a British citizen, has been Industry Partner at Motive Partners in the United States since 2019, where she also serves as CEO and board member of Motive Capital Corporation. Motive Capital Corporation is a special purpose acquisition company (SPAC), a nonoperating entity with the purpose of acquiring an existing, operational business. Once such an acquisition has been completed, Blythe Masters will not serve as the CEO of the acquired business. In addition, she is a member of the Board of Directors of A.P. Møller - Maersk, a member of the Board of Directors and Chair of the Audit Committee for the investment and advisory company GCM Grosvenor, and Chair of the Board and member of the Audit Committee at Phunware*, an enterprise mobile platform. She is also a member of the International Advisory Board of Santander Group and a member of the Board of Directors of Open Digital Services in Spain. Blythe Masters possesses considerable managerial experience in the financial services industry, particularly in corporate and investment banking, as well as in the financial technology sector. She started her career in 1991 at J.P. Morgan Chase, where she held various management positions until 2015, including Chief Financial Officer of the Investment Bank, Head of Credit Policy and Strategy and Global Credit Portfolio, Head of Corporate & Investment Bank Regulatory Affairs, and Head of Global Commodities. In 2015, she joined Digital Asset Holdings, an enterprise blockchain company, where she served as CEO until 2018. Blythe Masters holds a B.A. in economics from Trinity College, Cambridge. She lives in the United States.

• On March 24, 2021, Blythe Masters notified Phunware of her resignation from its Board and Audit Committee, effective May 1, 2021. Blythe Masters will continue to serve as a strategic advisor to Phunware.

CONTACT DETAILS

Kinner Lakhani, Investor Relations, Credit Suisse

Tel: [phone]

Email: [e-mail]

Andreas Kern, Corporate Communications, Credit Suisse

Tel: [phone]

Email: [e-mail]

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