Proposed appropriation of retained earnings

Proposal of the Board of Directors

The Board of Directors proposes to the Annual General Meeting of Shareholders to be held on 7 April 2014 that the retained earnings of CHF 4,170 million as of 31 December 2013 shall be appropriated as follows:

In CHF million   31.12.2013
Appropriation of retained earnings    
Balance carried forward from prior year   3,931
Net income for the year   239
Total retained earnings   4,170
Ordinary dividend of CHF 22.00 per share to 51,801,141 shares in total 1   (1,140)
Balance to be carried forward   3,030
1 Excluding treasury shares.

In the event that the proposal is approved, a dividend per share will be paid to shareholders on 14 April 2014 as follows:

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