Credit Suisse AG Representative Office, Philippines — Establishment and Commencement of Operations

June 25, 2018 BSP CIRCULAR LETTER NO. CL-2018-045 TO : All BSP-Supervised Financial Institutions SUBJECT : Credit Suisse AG Representative Office, Philippines Establishment and Commencement of Operations The Monetary Board, in its Resolution No. 1890 dated 10 November 2017, granted authority to the Credit Suisse AG to open a representative office in the Philippines to be known as the "Credit Suisse AG Representative Office, Philippines." As a liaison office of the Credit Suisse AG which deals directly with the public, its function shall be limited to promoting and providing information about the services/products offered by Credit Suisse and shall not include those of its affiliates. The Credit Suisse AG Representative Office, Philippines was registered with the Securities and Exchange Commission on 26 February 2018. The corresponding Certificate of Authority to Operate as a representative office was issued by the Bangko Sentral ng Pilipinas on 23 March 2018. The representative office started its operations on 18 June 2018. For information and guidance. (SGD.) LYN I. JAVIER Sector-In-Charge