Credit Suisse Group AG

Interim / Quarterly Report • Aug 19, 2022

Credit Suisse Group Funding (Guernsey) Limited

UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022

CONDENSED STATEMENT OF INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

		30 June 2022	30 June 2021
	Note	US\$ '000	000. \$\$1.
Interest income	4	57,339	90,697
Interest expense	4	(57,339)	(90,697)
Net interest income
Net gain/(losses) from financial assets/liabilities at fair value through profit or loss	5
Commission income	6	2,121	3,580
Other revenues	7	149	248
Total non-interest revenues		2,263	3,828
Net operating income		2,263	3,828
Other expenses	8	(80)	(161)
Guarantee expenses	6	(2,121)	(3,580)
Total operating expenses		(2,201)	(3,741)
Profit before tax		62	87
Income tax expense	9
Net profit		62	87

There is no other comprehensive income for the period. Accordingly, no Statement of Other Comprehensive Income is provided.

All profits for the six months ended June 2022 and June 2021 are from continuing operations.

The notes on pages 6 to 16 form an integral part of these interim Financial Statements.

CONDENSED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2022 (UNAUDITED)

			30 June 2022 31 December 2021
	Note	US\$ '000	000, \$\$1,
Assets
Current assets
Non-trading financial assets mandatorily at fair value through profit or loss	10	2,194,207	5,624,766
Cash and cash equivalents	11	7,084	7,045
Other assets	12	22,456	59,851
Total current assets		2,223,747	5,691,662
Total assets		2,223,747	5,691,662
Liabilities
Current liabilities
Financial liabilities designated at fair value through profit or oss	13	2,194,207	5,624,766
Other liabilities	14	22,456	59,874
Total current liabilities		2,216,663	5,684,640
Total liabilities		2,216,663	5,684,640
Shareholders' equity
Share capital	15	52	52
Retained earnings		7 032	6,970
Total shareholders' equity		7,084	7,022
Total liabilities and shareholders' equity		2,223,747	5,691,662

The notes on pages 6 to 16 form an integral part of the financial statements.

Approved by the Board of Directors on 16 August 2022 and signed on its behalf by:

Gary Luxton Member of the Board of Directors

James Parker Member of the Board of Directors

CONDENSED STATEMENT OF CHANGES IN EQUITY FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

	Attributable to equity shareholders
	Share	Retained	Total
	Capital	Earnings	Equity
	US\$ '000	US\$ '000	US\$ '000
Balance at 1 January 2022	િ	6.970	7,022
Net profit for the period		62	62
Balance at 30 June 2022	કિ	7,032	7.084

	Attributable to equity shareholders
	Share	Retained	Total
	Capital	Earnings	Equity
	US\$ '000	US\$ '000	US\$ '000
Balance as at 1 January 2021	52	6.7 31	6,783
Net profit for the year		239	239
Balance as at 31 December 2021	52	6.970	7,022

The notes on pages 6 to 16 form an integral part of the financial statements.

	Note	30 June 2022 000, \$\$1	30 June 2021 US\$ '000
Cash flow from operating activities
Profit before tax		62	87
Adjustments for:
Interest income	4	(57,339)	(90,697)
Interest expense	4	57,339	90.697
Foreign exchange loss/(gain)		2	(1)
Operating profit before working capital changes		હવે	: (5
Changes in assets and liabilities:
Decrease in financial assets mandatorily at fair value through profit or loss		3,430,559	2,676,495
Decrease in financial liabilities designated at fair value through profit or loss		(3,430,559)	(2,676,495)
(Decrease)/Increase in other payables		(24)	22
Cash generated from operating activities		40	103
Interest income received		94,734	136,476
Interest expense paid		(94,733)	(136,474)
Net cash flow generated from operating activities		41	110
Net increase in cash and cash equivalents		বা 1	110
Cash and due from banks at the beginning of the period		7,045	6,803
Effect of exchange rate changes on cash and cash equivalents		(2)
Cash and cash equivalents at the end of the period		7,084	6,914
Cash and cash equivalents at end of period comprises:		30 June 2022 US\$ '000	30 June 2021 US\$ '000
Cash at bank	11	7,084	6,914
		7,084	6,914

CASH FLOWS FOR THE SIX MONTHS ENDED 30 ILINE 2022 (JUNAUL

The notes on pages 6 to 16 form an integral part of these financial statements.

NOTES TO THE CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

General -

Credit Suisse Group Funding (Guernsey) Limited is a company domiciled in Guernsey. The Company's registered address is Helvetia Court, Les Echelons, South Esplanade, St. Peter Port, Guernsey, GY 1 3WF.

The principal activities of the Company are borrowing of funds by issuing senior unsecured notes guaranteed by Credit Suisse Group AG. The funds raised are lent to other entities in the Credit Suisse group.

During the period reported, no dividends were declared and the Company does not have any preference shares and accordingly, no cumulative preference dividends have been recognised.

As of 30 June 2022, the Company reported equity of US\$ 7,084k (USD 7,022k as at December 2021).

The financial statements have been prepared on a going concern basis. In considering going concern, the Directors have reviewed the capital, liquidity and financial position of the Company including future capital, liquidity and financial plans. With the recent market developments caused by COVID-19, the Directors reassessed these components and have concluded the going concern basis is still appropriate. The reassessment was completed with reference to the terms and conditions of the notes issued by the Company externally and back to back arrangements on the notes received internally from a CS Group company. It also considered that the debt is guaranteed by Credit Suisse Group AG. This provides confirmation that the Credit Suisse Group will provide sufficient funding to the Company to ensure that it maintains a sound financial situation and is in a position to meet its debt obligations for the foreseeable future. Consequently, the Directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore, have prepared the financial statements on a going concern basis.

The unaudited Interim Financial Statements were authorised for issue by the Directors of the Company on 16 August 2022.

2. Significant accounting policies

Statement of compliance

The Financial Statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"), interpretations issued by the International Financial Reporting Interpretations Committee of the IASB and are in compliance with the Companies (Guemsey) Law, 2008 (as amended). These Financial Statements are presented in accordance with IAS 34, 'Interim Financial Reporting', They do not include all the information required for full annual statements and should be read in conjunction with the financial statements as at and for the year ended 31 December 2021. In preparing the Interim Financial Statements, the same accounting principles and methods of computation are applied as in the Financial Statements on 31 December 2021. The Interim Financial Statements are unaudited.

The Financial Statements are presented in United States Dollars (US\$), rounded to the nearest thousand. They are prepared on the historical cost basis except for financial instruments designated at fair value through profit or loss which are stated at their fair values.

The preparation of Financial Statements in conformity with adopted IFRS requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readly apparent from other sources. Actual results may differ from these estimates,

NOTES TO THE CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

2. Significant accounting policies (continued)

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revision affects only that period or in the period of revision and future periods if the revision has a significant effect on both current and future periods.

Standards and interpretations effective in current period

The Company has adopted the following amendments in the current year:

Amendments to IFRS 9, IFRS 7, IFRS 7, IFRS 4 and IFRS 16: Interest Rate Benchmark Reform · Phase 2: In August 2020, IASB Issued 'Amendments to IFRS 9, IFRS 7, IFRS 4 and IFRS16: Interest Rate Benchmark Reform- Phase 2' (Amendments to IFRS 9, IFRS 7, IFRS 4 and IFRS16) in order to address financial reporting issues arising from the replacement of interbank offered rates (IBORs). The amendments are effective for annual periods beginning on or after 1 January 2021, with earlier application permitted. The Company adopted the Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 on 1 January 2021. The adoption had no material impact to the Company's financial position, results of operation or cash flows.

The accounting policies have been applied consistently by the Company.

3. Segmental analysis

In accordance with IFRS 8 "Operating Segments", the Chief Operating Decision Maker (CODM') has concluded, based on an assessment of the performance of the Company in order to determine the allocation of resources, that "capital raising" is the only operating segment for the Company. This is currently disclosed through the production of the Condensed Statement of Financial Position and Condensed Statement of Profit or Loss and Other Comprehensive Income.

The CODM has also concluded that the Company has products in the nature of financial instruments only.

The following fable shows the Company's net revenue by region which generates the net revenue:

	30 June 2022 30 June 2021 US\$'000
Profit before tax		US\$'000
Switzerland	(2,126)	(3,582)
Great Britain	94.762	184.531
Guernsey	(72)	(135)
Various	(92,502)	(180,727)
Profit before tax	62	87

The interest income, other income and expenses is received / paid from / to group companies. The interest expenses and other expenses are paid to third parties in various regions. The Company has no non-current assets other than financial instruments.

NOTES TO THE CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

4. Interest income and Interest expense

	US\$ '000	30 June 2022 - 30 June 2021 000, \$\$1,
Loans
of which are held at fair value through profit or loss	57,339	90,697
Interest income	57,339	90,697
Long term debt
of which are held at fair value through profit or loss	(57,339)	(90,697)
Interest expense	(57,339)	(90,697)
Net interest income

5. Net gain/(losses) from financial assets/liabilities at fair value through profit or loss

	30 June 2022	30 June 2021
	US\$ '000	US\$ '000
Mark to market gain on financials assets mandatorily at fair value through profit or loss	35.161	90.028
- of which related to loan	35.161	90,028
Mark to market loss on financials liabilities designated at fair value through protit or loss	(35,161)	(90,028)
- of which related to long term debt	(35,161)	(90,028)
Net gains/(losses) from financial assets/liabilities at fair value through profit or loss

The following table details net gains from non trading financial assets mandatorily measured at fair value through profit or loss.

		30 June 2022 30 June 2021
	uss '000	US\$ '000
Loans	35,161	90,028
Total net gains from non trading financial assets mandatorily measured at fair value through profit or loss	35,161	90,028

The following table details net loss from financial liabilities designated at fair value through profit or loss.

		30 June 2022 30 June 2021
	US\$ '000	US\$ '000
Long-term debt	(35,161)	(90,028)
Total net loss from financial liabilities designated at fair value through profit or loss	(35,161)	(90.028)

NOTES TO THE CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

6. Commission income and guarantee expense

		30 June 2022 - 30 June 2021
	US\$ '000	US\$ '000
Other services	2,121	3,580
Total income	2,121	3,580
Other services	(2,121)	(3,580)
Total expense	(2,121)	(3,580)
Net income

7. Other revenues

	30 June 2022 30 June 2021
	US\$ '000	US\$ '000
Administration fees	142	247
Foreign exchange gain
Total other revenues	142	248

8. Other expenses

	30 June 2022 30 June 2021
	US\$ '000	US\$ '000
Administrative fees	(72)	(135)
Professional fees		(2)
Audit fees	(1)	(22)
Other expenses	(5)	(2)
Foreign exchange loss	(2)
Total other expenses	(80)	(161)

9. Taxation

Guernsey has a "Zero-10" tax regime for the faxation of Guernsey resident companies. The company standard rate of tax is 0%. The Company is resident in Guernsey for tax purposes. All sources of income in the company arise from transactions which are taxed at the company standard rate of 0%.

10. Non-trading financial assets mandatorily at fair value through profit or loss

	30 June 2022 000, asil	31 December 2021 US\$ '000
Non-trading financial assets mandatorily at fair value through profit or OSS	2,194,207	5,624,766
Total non-trading financial assets mandatorily at fair value through profit or loss	2,194,207	5,624,766
Current portion of Non-trading tinancial assets mandatorily at tair value through profit or loss	2.194.207	5,624,766
Total non-trading financial assets mandatorily at fair value through profit or loss	2.194.207	5,624,766

NOTES TO THE CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

10. Non-trading financial assets mandatorily at fair value through profit or loss (continued)

Financial assets mandatorily at fair value through profit or loss represents unsecured notes issued by Credit Suisse Group Companies. On 11 December, 2019, the senior unsecured notes held by the company have been ranked as subordinated unsecured notes. These subordinated unsecured notes qualify for any Swiss resolution power with respect to the Credit Suisse Group AG, that results in the write-down and cancellation and/or conversion into equity of the Guarantor, including by means of an amendment or modification to the conditions of the notes or any such ordering of restructuring protective measures. This is in line with the total loss-absorbing capacity ("TLAC") standard issued by the Financial Stablity Board, which would facilitate the bail-in resolution strategy of the Guarantor under Swiss regulations,

11. Cash and due from banks

		30 June 2022 - 31 December 2021
	US\$ '000	US\$ '000
Cash at bank	7.084	7.045
Total cash and cash equivalents	7.084	7.045

Cash at bank related to nostro accounts held with Credit Suisse AG, Guernsey Branch.

12. Other assets

		30 June 2022 - 31 December 2021
	US\$ '000	US\$ '000
Interest receivable	22,456	59.851
Total other assets	22,456	59,851

13. Financial liabilities designated at fair value through profit or loss

	30 June 2022	31 December 2021
	US\$ '000	US\$ '000
Financial liabilities designated at tair value through profit or loss	2,194,207	5,624,766
Total financial liabilities designated at fair value through profit or 055	2,194,207	5,624,766
Current portion of Financial liabilities designated at fair value through profit or loss	2,194,207	5,624,766
Non-Current portion of Financial liabilities designated at fair value through profit or loss
Total financial liabilities designated at fair value through profit or OSS	2,194,207	5.624,766

Financial liabilities designated at fair value through profit or loss represents senior unsecured by the Company to various third parties. Credit Suisse Group AG, Zurich ("Guarantor") provides a guarantee for these issuances. These senior unsecured notes qualify for any Swiss resolution power with respect to the Guarantor that results in the write-down and cancellation and/or conversion into equity of the Guarantor, including by means of an amendment or modification to the conditions of the notes or any such ordering of restructuring protective measures. This is in line with the total loss-absorbing capacity ("TLAC") standard issued by the Financial Stability Board, which would facilitate the ball-in resolution strategy of the Guarantor under Swiss regulations.

NOTES TO THE CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

14. Other liabilities

		30 June 2022 - 31 December 2021
	US\$ '000	US\$ '000
Interest payable	22,456	59,850
Audit fees payable		24
Total other liabilities	22,456	59.874

15. Share Capital

		30 June 2022 - 31 December 2021
	US\$ '000	US\$ '000
Authorised, Issued, Subscribed, Allotted, called up and fully paid:
50,000 ordinary shares of USD 1.0395 each	52	52

Capital Management

It is the policy of the Board of the Company to maintain an adequate capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business.

The capital structure of the Company consists of equity attributable to equity holders of the Company, comprising issued capital, reserves and comprehensive income / loss. Also, the Company has received a guarantee from Credit Suisse Group AG, Zurich to accept ultimate responsibility for the senior unsecured notes issued by the Company.

The Company is not subject to externally imposed capital requirements.

The holders of ordinary shares carry voting right to receive dividends, as and when declared by the Board of Directors.

16. Related party transactions

The Company is wholly owned by Credit Suisse Group AG, Incorporated in Switzerland.

The nature of related party transactions remained consistent for the six months ended 30 June 2022 as compared to the year ended 31 December 2021.

The Company is involved in significant financing and other transactions, and has significant related party balances with subsidiaries and affiliates of Credit Suisse AG.

NOTES TO THE CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

16. Related party transactions (continued)

Related party revenues and expenses

30 June 2022	Parent	Fellow Group Companies	irotal
	US\$ '000	US\$ '000	US\$ '000
Interest income on financial assets designated at tair value through profit or loss		57.339	57,339
Commission income		2.121	2,121
Other revenues		142	142
Guarantee fees	(2,121)		(2,121)
Administrative fees		(72)	(72)
Other expenses		(5)	(5)
Net revenues and expenses	(2,121)	59.575	57,404

30 June 2021	Parent	Fellow Group Companies	Total
	US\$ '000	US\$ '000	US\$ '000
Interest income on financial assets designated at fair value through profit or loss		90,697	90,697
Commission income		3.580	3,580
Other revenues		248	248
Guarantee fees	(3,580)		(3,580)
Administrative fees		(135)	(135)
Other expenses		(2)	(2)
Net revenues and expenses	(3,580)	94,388	90,808

Related Party assets

30 June 2022	Parent	Fellow Group Companies	llotal
	US\$ '000	US\$ '000	US\$ '000
Assets
Non-trading financial assets mandatorily at fair value through profit or loss		2,194,207	2,194,207
Interest receivable		22,456	22,456
Cash and cash equivalents		7,084	7.084
Total related party assets		2,223,747	2,223,747

NOTES TO THE CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

16. Related party transactions (continued)

31 December 2021	Parent	Fellow Group Companies	Total
	US\$ '000	US\$ '000	US\$ '000
Assets
Non-trading financial assets mandatorily at fair value through profit or loss		5,624.766	5,624,766
Interest receivable		59,851	59,851
Cash and cash equivalents		7,045	7.045
Total related party assets		5.691.662	5,691,662

Loans and advances to Directors and Key Management Personnel

There were no loans or advances made to Directors or Key Management Personnel during the period.

Related party guarantees and commitments

The Company is a beneficiary to guarantees given by Credit Suisse Group AG for which the Company pays a guarantee fee and correspondingly the Company has given guarantees to one of the Credit Suisse Group Companies for which the Company receives guarantee fees.

17. Fair value of financial instruments

Fair value measurement (including fair value hierarchy)

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date. A portion of the Company's financial instruments (derivative instruments and financial assets and liabilities designated at fair value) are carried at fair value in the Statement of Financial Position. Related changes in the fair value are recognised in the Statement of Profit or Loss and Other Comprehensive Income. Deterioration of financial markets could significantly impact the fair value of these financial instruments and the results of operations.

Qualitative disclosures of valuation techniques

The Company has implemented and maintains a valuation control framework, which is supported by policies and procedures that define the principling the valuation of the Company's financial instruments. Product Control and Risk Management create, review and approve significant valuation policies and procedures. The framework includes price verfication and unobservable inputs review as well as pricing model validation and review.

Fair value hierarchy

The different levels in the tair value hierarchy in which fair value measurements are categorised for financial assets and liabilities have been defined as follows:

Level 1 - Quoted market prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ablity to access. This level of the fair value hierarchy provides the most reliable evidence of fair value and is used to measure fair value whenever available.

Level 2 - Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

NOTES TO THE CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

17. Fair value of financial instruments (continued)

Fair value hierarchy (continued)

Level 3 - Inputs for the assets or liabilities that are not based on observable inarket data (unobservable inputs). These inputs reflect the Company's own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). These inputs are developed based on the best information available in the circumstances, which include the Company's own data. The Company's own data used to develop unobservable inputs is adjusted if information indicates that market participants would use different assumptions.

The following table sets out the carrying amounts and fair value of the Company's financial instruments.

The disclosure of the Company's financial instruments below includes the following sections:

• Analysis of financial instruments by categories;
• Fair value of assets and liabilities measured at fair value on a recurring basis;
• Fair value of financial instruments not recognised at fair value.

The following table details the fair value of financial instruments for which it is practicable to estimate that value, whether or not this is reported in the Company's financial statements.

30 June 2022	Mandatorily at FUIPL	Amortised cost	Total carrying amount
Financial assets (US\$ '000)
Cash and due from banks		7,084	7,084
Non-trading financial assets mandatorily at fair value through profit or loss	2,194,207		2,194,207
Other financial assets		22,456	22,456
Total financial assets	2,194,207	29,540	2,223,747
30 June 2022	Designated as at a 119 L	Amortised cost	Total carrying amount
Financial liabilities (US\$ '000)
Financial liabilities designated at fair value through profit or OSS	2,194,207		2,194,207
Other financial liabilities		22,456	22,456
Total financial liabilities	2,194,207	22,456	2,216,663

NOTES TO THE CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

17. Fair value of financial instruments (continued)

31 December 2021	Mandatorily at aviral	Amortised cost	Total carrying amount
Financial assets (US\$ '000)
Cash and due from banks		7,045	7,045
Non-trading financial assets mandatorily at fair value through profit or loss	5,624,766		5,624,766
Other financial assets		25,851	59,851
Total financial assets	5,624,766	66,896	5,691,662
31 December 2021	Designated as at PVTPL	Amortised cost	Total carrying amount
Financial liabilities (US\$ '000)
Financial liabilities designated at fair value through profit or OSS	5,624,766		5,624,766
Other financial liabilities		59,874	59.874
Total financial liabilities	5,624,766	59.874	5.684.640

Fair value of assets and liabilities measured at fair value on a recurring basis

30 June 2022	Level 1	Level 2	Level 3	Total Fair Value
	US\$ '000	US\$ '000	US\$ '000	US\$ '000
Assets
Financial instruments		2,194,207		2,194,207
Total assets at fair value		2,194,207		2,194,207
Liabilities
Financial instruments		2,194,207		2,194,207
Total liabilities at fair value		2,194,207		2,194,207
31 December 2021	Level 1	Level 2	Level 3	Total Fair Value
	000. \$55.	US\$ '000	US\$ '000	000, \$85,
Assets
Financial instruments		5,624,766		5,624,766
Total assets at fair value		5,624,766		5,624,766
Liabilities
Financial instruments		5,624,766		5,624,766
Total liabilities at fair value		5,624,766		5,624,766

NOTES TO THE CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 (UNAUDITED)

17. Fair value of financial instruments (continued)

Fair value of financial instruments not recognised at fair value by level of fair value hierarchy

30 June 2022	Level 1	Level 2	Level 3	Total Fair Value
Financial assets	US\$ '000	US\$ '000	US\$ '000	US\$ '000
Cash and cash equivalents	7,084			7,084
Interest receivable		22,456		22,456
Total financial assets at fair value	7,084	22,456		29,540
Financial liabilities
Interest and other payables		22.456		22,456
Total financial liabilities at fair value		22,456		22,456
31 December 2021	Level 1	Level 2	Level 3	Total Fair Value
Financial assets	US\$ '000	US\$ '000	US\$ '000	US\$ '000
Cash and cash equivalents	7,045			7,045
Interest receivable		pa 85 l		59,851
Total financial assets at fair value	7,045	59,851		66,896
Financial liabilities
Interest and other payables		59,874		59,874
Total financial liabilities at fair value		59,874		59,874

18. Subsequent events

There are no subsequent events which impact the financial position of the Company as at 30 Jun 2022.

STATEMENTS BY THE RESPONSIBLE PERSONS

The undersigned:

Messrs G Luxton and J Parker on behalf of the board of Directors of Credit Suisse Group Funding (Guernsey) Ltd, a private company with limited liability, incorporated under the laws of Guernsey (hereinafter referred to as the ("the Company"), hereby confirm that to the best of their knowledge, the financial statements for the period ended 30 June 2022 have been prepared in accordance with the applicable set of accounting standards and give a true and fair view of the assets, liabilities, financial position and profit and loss of the Company.

Furthermore, the undersigned declare that the Management Report includes a fair review of the development and performance of the business and the Company's position together with a description of the principal risks and uncertainties that it faces.

16 August 2022

G Luxton Member of the Board of Directors

J Parker Member of the Board of Directors

MANAGEMENT REPORT

The Directors submit their report and the unaudited financial statements of the six months ended 30 June 2022.

These unaudited Interim Financial Statements should be read in conjunction with the Company's audited Report and Financial Statements for the period ended 31 December 2021.

General

Credit Suisse Group Funding (Guernsey) Limited ("the Company") is a Guernsey company incorporated on 04 August 2014. The Company is a direct wholly owned subsidiary of Credit Suisse Group AG, a company incorporated with limited liability under the laws of Switzerland.

Activities

Credit Suisse Group Funding (Guernsey) Limited is a special purpose vehicle and a direct subsidiary of Credit Suisse Group AG. The principal activities of the Company are the borrowing of funds by issuing senior unsecured notes guaranteed by Credit Suisse Group AG. The funds raised are lent to other entities in the Credit Suisse group.

Results

As of 30 June 2022 the Company reported total equity of USD 7,084k.

Financial Risks

The Credit Suisse Group AG, of which Credit Suisse Group Funding (Guernsey) Limited is a part, manages its risks under global policies. The Credit Suisse Group AG risk management process is designed to ensure that there are sufficient controls to measure, monitor and control risks in accordance with Credit Suisse Group AG's control framework and in consideration of industry best practices. The primary responsibility for risk management lies with Credit Suisse Group AG's senior business line managers. They are held accountable for all risks associated with their businesses, including market risk, liquidity risk, and operational risk.

Directors

The current directors of the Company are stated on page 1 of the Financial Statements for the period ended December 31, 2021.

Auditors

PricewaterhouseCoopers CI LLP are the current auditors of the Company.

Future Outlook

Credit Suisse Group Funding (Guernsey) Limited has participated in a number of capital raising transactions, and will continue to be used for this purpose.

Post Balance Sheet Events

There are no subsequent events which impact the financial position of the Company as at 30 June 2022.