Credit Suisse launched the Nature Conservation Notes in 2014 to provide market-rate returns while supporting sustainable agriculture and forest protection through investments in the Althelia Climate Fund and green bonds. The Notes offer a 6.5-year term with partial repayments after 3.5 years and exposure to a portfolio of high-quality green bonds alongside the Althelia Climate Fund's projects in countries like Brazil, Peru and Kenya. USAID provides a guarantee on up to 50% of potential losses from the Althelia Climate Fund. The document also outlines some other potential scalable instruments for mobilizing finance towards landscape initiatives and conservation.

1. Mobilizing Finance for Landscape
Initiatives: Three Scalable Instruments
CIFOR Global Landscapes Forum - Paris
December 6, 2015
John Tobin-de la Puente, CREDIT SUISSE

2. 2
The Nature Conservation Notes
Executive Summary
 On December 11, 2014, Credit Suisse launched in collaboration with Althelia Ecosphere the Nature Conservation Notes, a new impact
investing product focused on sustainable agriculture and forest protection
 The Notes build upon Credit Suisse’s strong commitment to the environment, the positive track record of the Local Currency
Microfinance Notes and the Education Note, as well as a thought-leadership research report co-authored by Credit Suisse, WWF, and
McKinsey on the topic of conservation finance
 The Notes provide exposure to:
 (i) Althelia Climate Fund, a unique Luxembourg-based fund focused on sustainable agro-forestry and ecosystem
conservation
 (ii) Portfolio of selected green bonds with high credit quality
 The Notes carry the following terms:
 Expected market-rate return p.a. in EUR¹
 Yearly repayments composed of (i.) Althelia Climate Fund’s dividends and (ii.) Green Bonds’ interests
 6.5-year maturity with 60% of the initial investment expected to be repaid after 3.5 years
 Secondary market (option to exit)
 Sovereign guarantee (USAID) covering up to 50% loss on the Althelia Climate Fund
¹ The target return is not a projection, prediction or guarantee of future performance, and there is no certainty that the target return will be reached.
CREDIT SUISSE AG, Sustainability Affairs December 6, 2015
SUBSCRIPTION CLOSED – PRODUCT NOT FOR SALE
IN THE US

3. 3
The Nature Conservation Notes
Investment Mechanism
1 Investors were the purchaser of a Note. The Note was issued by a Credit Suisse-sponsored SPV that is also the limited partner into the Althelia Climate Fund.
Undrawn cash
(Collateral)
Investors1
SPV1
(Issuer)
Note
Investment
Althelia
Climate
Fund
Green
Bond
Portfolio
Bond 1
Bond 2
Bond 3
etc.Investments
Loans
10-15
projects in
total
Clients Nature Conservation Notes UnderlyingsInvestments
 The Notes allow to support nature conservation in countries such as Brazil, Peru or Kenya and economic
development for its local communities through the revenues generated by the projects financed by the Fund
 The undrawn cash of the Notes used as collateral against the Fund investment will be invested in a portfolio of
selected green bonds, providing a return enhancement and additional environmental impact to the Notes holder
SUBSCRIPTION CLOSED – PRODUCT NOT FOR SALE
IN THE US
CREDIT SUISSE AG, Sustainability Affairs December 6, 2015

4. 4
Illustrative Examples of Other Scalable Instruments
Ecosystem Green Bond
Asset-backed bond with use of
proceeds for self-sustaining cash-
flow generating conservation
finance and climate adaptation
activities in marine and land areas
Ocean Conservation Vehicle
Notes or fund to invest in
complementary strategies driving
ocean conservation by deploying
capital throughout the seafood supply
chain (e.g., quota, FIPs, processing)
Decoupled Impact Bond
Use of proceeds bond with principal
protection and fixed coupon by
issuer and PV coupon invested in a
portfolio of conservation finance
projects providing potential upside
CREDIT SUISSE AG, Sustainability Affairs December 6, 2015

5. 5
Legal Notice
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to purchase any securities or other financial instruments and may not be construed as such. This information is preliminary in nature and is subject to change. The
information contained herein does not purport to contain all of the information that may be required to evaluate such securities or other financial instruments and
any recipient should read the definitive offering memorandum relating to such financial instruments and should conduct its own independent analysis of the data
referred to herein.
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be, registered under the Investment Company Act of 1940, as amended. The securities described herein are not, and will not be, recommended by any United
States Federal or State securities commission or regulatory authority. Furthermore, the foregoing authorities have not confirmed the accuracy or determined the
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CREDIT SUISSE AG, Sustainability Affairs December 6, 2015

6. 5
Legal Notice
This presentation is provided to you solely for informational purposes and does not constitute an offer or solicitation of an offer, or any advice or recommendation,
to purchase any securities or other financial instruments and may not be construed as such. This information is preliminary in nature and is subject to change. The
information contained herein does not purport to contain all of the information that may be required to evaluate such securities or other financial instruments and
any recipient should read the definitive offering memorandum relating to such financial instruments and should conduct its own independent analysis of the data
referred to herein.
If any offer of securities is made, it shall be pursuant to a definitive offering memorandum prepared by or on behalf of the Issuer which will contain material
information and various risk factors not contained herein and which would supersede, amend and supplement this information in its entirety. Any decision to invest
in any securities described herein should be made only after reviewing the definitive offering memorandum relating to the securities, including a discussion of risk
factors therein. The securities described herein are not, and will not be, registered under the Securities Act of 1933, as amended, and the Issuer is not, and will not
be, registered under the Investment Company Act of 1940, as amended. The securities described herein are not, and will not be, recommended by any United
States Federal or State securities commission or regulatory authority. Furthermore, the foregoing authorities have not confirmed the accuracy or determined the
adequacy of this document. Any representation to the contrary is a criminal offense.
This presentation may not be reproduced or redistributed to any other person, in whole or in part, without the prior written consent of CS. The information set
forth herein has been obtained or derived from sources believed by Credit Suisse and its affiliates (“CS”) to be reliable, but neither CS or any of its affiliates makes
any representation or warranty, express or implied, as to its accuracy or completeness. Past performance should not be taken as an indication or guarantee of
future performance, and no representation or warranty, express or implied is made by CS or any of their respective affiliates regarding future performance.
Opinions and estimates may be changed without notice. From time to time CS may provide investment banking, credit and other financial services to any company
or issuer of securities or financial instruments referred to herein, or underwrite, maintain a position in, or act as a market maker with respect to any securities or
financial instruments of any such company or issuer. If CS makes a market in any security, there can be no assurance that CS will continue to do so. Additional
information is available upon request. CS may have issued other reports that are inconsistent with, and reach different conclusions from, the information presented
herein. Those reports reflect the different assumptions, views and analytical methods of the analysts who prepared them. The terms described in this presentation
are indicative and for discussion purposes only, and are subject to CS’s internal and external legal, compliance, and credit opinions and approval. These materials
were designed for use by specific persons familiar with the business and the affairs of your company and neither CS or any of its affiliates assumes any obligation to
update or otherwise revise these materials. Any projections, forecasts and estimates contained herein are forward looking statements and are based upon certain
assumptions. Forward looking statements and projections are necessarily speculative in nature, and it can be expected that some or all of the assumptions
underlying the projections will not materialize or will vary significantly from actual results. Accordingly, both forward looking statements and the projections are
only estimates. Actual results may vary from the projections, and the variations may be material. The inclusion of projections herein should not be regarded as a
representation by CS or any of its affiliates or any other person or entity of the results that will actually be achieved by the Issuer. CS has no obligation to update or
otherwise revise any projections, including any revisions to reflect changes in economic conditions or other circumstances arising after the date hereof or to reflect
the occurrence of unanticipated events, even if the underlying assumptions do not come to fruition. Copyright © 2015 Credit Suisse Group AG and/or its affiliates.
All rights reserved.
CREDIT SUISSE AG, Sustainability Affairs December 6, 2015