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BS 10 EFTA00775625 UBS Business Jet Update 10..kno2OD9 Required Disclosures This report has been prepared by UBS Securities LLC, an affiliate of UBS AG. UBS AG, its subsidiaries, branches and affiliates are referred to herein as UBS. For information on the ways in which UBS manages conflicts and ma

, revenues arisen from transactions held by Banco UBS Pactual SA. and/or its affiliates. Company Disclosures Company Name General Dynamics Corp..I Textron Inc.2• 4• 5•"•"" 4" It "' Reuters 12-mo rating Short-term rating Mice Price date GD.N Neutral N/A US$59.25 09Jun 2009 TXT.N Neutral N/A

3310 EFTA02411815 UBS Business Jet Survey 24 Medi 2010 Required Disclosures This report has been prepared by UBS Securities LLC, an affiliate of UBS AG. UBS AG, its subsidiaries, branches and affiliates are referred to herein as UBS. For information on the ways in which UBS manages conflicts and ma

ilability of customer financing, program execution and inventory management. Our estimates, ratings and price targets for both General Dynamics and Textron are subject to additional risks including poor program execution and government funding related to their defense and security businesses. Additiona

55 EFTA01840656 UBS Business Jet Survey 2 Febnary 2012 Required Disclosures This report has been prepared by UBS Securities LLC, an affiliate of UBS AG. UBS AG, its subsidiaries, branches and affiliates are referred to herein as UBS. For information on the ways in which UBS manages conflicts and ma

and, availability of customer financing, program execution and inventory management. Our estimates, ratings and price targets for General Dynamics, Textron and Rockwell Collins arc subject to additional risks including poor program execution and government funding related to their defense and security