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009 and UBS esbmales for future periods. TXT PE multiple for the current period Sects our 2010 imamate. Source: UBS eslimales UBS 3 EFTA00775618 UBS Business Jet Update 10 June 2009 Available Inventory Levels We estimate 3,057 business jet aircraft available for sale at the end of May (including 2,878 used
sdnand AG is regulated by to Bena:annan fur Finaralensrlasti~cht geaFril. Spaln: Preparat by UDS Limited and Ostntbrod by UDS Limled and Les Savna*: Espana SV. SA_ UDS Securtes Espana SV. SA h regibad by Mo Garnison National del therC800 de Vegre. (004V) Tariff: Nedad by UBS Manke Crawler AS On be alt d an
of this report. Investors should consider this report as only a single factor in making their investment decision. EFTA_R1_01473294 EFTA02411799 UBS Business Jet Survey 24 Mach 2010 Business Jet Market Survey Our UBS Business Jet Market Survey is designed to provide timely market data supplied directly by i
Ito Fritinzdeenalentongssursitte. (BaF-n) Spain: Prepared by OSS Lasted and Ontrtarnd by 1-135 Inited and UBS Securitme Esparta SV SA UBS Socotra,. Espana SV. SA n regulated by Pro C«a»en NalaCnal dal Morena} de Vetoes (COIN, Taster Pretan0 by UBS bnanku] Dewier AS on Wen of and &Medea by ISS Limited Russ
s corn .1412413 3321 4; fl $7 .' 7 a' ingagtg.tgl 7.73 3. .7 ' Simple average B8BGOTTX3 Mock price performance index 'static. to SSP 500 Sawa: UBS Business Jet Survey Source. UBS Business Jet Survey This report has been prepared by UBS Securities LLC ANALYST CERTIFICATION AND REQUIRED DISCLOSURES BEGIN ON
rtesanelan fur PinantdienillestsonnapulaCht Main/ Stela Natant' by UBS timed and celnbubd by ISS Limited and VBS Saurian EstalOst SV SA 005 Secure., Espana SV, SA if staled by Me Casson Sonoma del Medan On Valera (CNIAVI Turley Prepared by UBS Menke' Began, A5 on Oohed of Art distrib ted by UBS Laded Russi
Entities connected to both UBS Business Jet and Espana SV
European Investment Fund
ORGANIZATIONCore Banding Exceptions
ORGANIZATIONGeneral Dynamics Corp.
ORGANIZATIONthe Valuation and Risk
ORGANIZATIONDavid E. Strauss
PERSON
Textron
ORGANIZATION
Review
ORGANIZATIONGlobal Equity Research
ORGANIZATIONDarryl Genovesi
PERSONTextron Inc.
ORGANIZATIONEmbraer
ORGANIZATIONDoug Band
PERSON
UBS AG
ORGANIZATIONCessna
ORGANIZATIONLarge Cabin
PERSON
Europe
LOCATIONBombardier Inc.
ORGANIZATION
General Dynamics
ORGANIZATIONUBS Securities LLC
ORGANIZATIONUBS Business Jel Survey
ORGANIZATION