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Proposal of the Board of Directors

The Board of Directors proposes to the Annual General Meeting of Shareholders to be held on 2 April 2019 that the available retained earnings of CHF 6,424 million for the financial year ending on 31 December 2018, be appropriated as follows:

In CHF million   31.12.2018
     
Appropriation of retained earnings
Retained earnings from previous year   5,240
Ordinary dividend 1   (1,140)
Balance carried forward from prior year   4,100
Net income for the year   2,324
Retained earnings available to the Annual General Meeting   6,424
Ordinary dividend of CHF 22.00 per share on 51,801,600 shares 1   (1,140)
Balance to be carried forward   5,284
1 Excluding treasury shares.

In the event that the proposal is approved, a dividend per share will be paid to shareholders on 8 April 2019 as follows:

Per registered share   CHF
Ordinary dividend, gross   22.00
Less 35% withholding tax   (7.70)
Net dividend payable   14.30