Full-year 2015 Summary:

 Next Level strategy delivering positive results

 Orders and revenues stable1 1,2 order backlog up 5%

 Operational EBITA margin up 60 bps to 11.8%

 Operational earnings per share2 +5% (constant currency)

 Cash return on invested capital2 up 70 bps to 13.4%; free cash flow +16%2, 3

 Power Systems ‘step change1 delivers strong financial turnaround in 2015

 7th consecutive dividend increase to CHF 0.74 per share proposed

 4 new Board members proposed for election at the next annual general meeting

Q4 Summary:

 Orders (-2%) reflect challenging market conditions; base orders -6%

 Operational EBITA margin up 60 bps to 11.7%

 Power Systems reached target margin corridor; strategic portfolio review of Power Grids on track

 Accelerated productivity and cost out measures in white collar, supply chain and operational excellence

 Net income of $204mn including a total $496mn restructuring and related expenses

 Cash flow from operating activities +18%3

Full-year and Q4 financials impacted by currency translation due to strong appreciation of US dollar

Growth rates for orders, revenues and order backlog on a comparable basis (local currency adjusted for acquisitions and divestitures), previously ‘like-for-like’ growth rates US$ growth rates are presented in Key Figures table

2 For a reconciliation of non-GAAP measures, see "Supplemental Reconciliations and Definitions" in the attached Q4 2015 Financial Information

3 Growth rates for cash flow figures are calculated using constant currency (not adjusted for impacts of changes in the business portfolio).

ABB: increased profitability in challenging markets