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, 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

Sector Comment 10 June 2009 wew.ubs.cornfinvestrrentresearch David E. Strauss Ma st •7.212-7136181 Cristina Fernandez Ma)11 +1-212-713 3321 Darryl Genovesi Associate Analyst •1-212-713-4016 This report has been prepared by UBS Securities LLC ANALYST CERTIFICATION AND REQUIRED DISCLOSURES BEGIN ON PAG

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

iate and analyst employed by that affiliate contributing to this report, if any. follows. UBS Securities LLC: David E. Strauss; Cristina Fernandez: Darryl Genovesi. UBS Securities Canada Inc: Tasneem Azim. Company Disclosures Company Name Reuters 12-mo rating Short-term rating Price Price date General Dyn

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

1./IrnMr - nanglkIna tn :44 0 UBS Business Jet Market Index —' Rel Pte (RHS) 10 David E. Strauss Analyst Pane strausstguts can .1-212-713 6185 Darryl Genovesi Analyst Offs., genovesigute corn .1-212-713 4016 Ryan Thackston Associate Analyst ryan Macaston@ubs corn .1412413 3321 4; fl $7 .' 7 a' ing

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

vestmentreseatch David E. Strauss Anato daed strainsktubs Qom .1-212.7136185 Cristina Fernandez Anaysl cnsmalemancleziNosoom •1.212.713 3321 Darryl Genovesi Asscoate Anatol darrytgenovesigubs corn •1.212.7134016 Tasneem Azim Assooate Anatest tasneemiazenVis corn .1416-814 3678 Chart 1: UBS Business