Appropriation of Profit

Annual profit amounts to CHF 758 292 876. The Board of Directors proposes to the General Meeting of Shareholders that the profit be appropriated in accordance with the table below. If this proposal is adopted, an ordinary dividend of CHF 15.00 per share will be made from profit. In addition, if this proposal is adopted, a distribution of CHF 5.00 per share will be made in the form of a reduction in par value. This amounts to a total distribution of CHF 20.00 per share.

The proposal of the Board of Directors to the General Meeting of Shareholders on 28 April 2020 is based on shares entitled to a dividend as at 31 December 2019. The actual total amount of distribution depends on the number of shares entitled to a dividend on 2 May 2019. Swiss Life Holding Ltd waives a corresponding dividend in respect of treasury shares it holds at the time of distribution.

Zurich, 10 March 2020

For the Swiss Life Holding Board of Directors

Rolf Dörig

Frank Schnewlin