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Investor Application, shall have any legal effect. The Administrator is registered as a "commodity pool operator" with the CFTC and is a member of the National Futures Association ("NFA") in such capacity under the U.S. Commodity Exchange Act, as amended. With respect to the AlphaKeys Fund, the Administrator has claimed an ex
will be payable out of the Administrative Fee. UNDERLYING FUND A performance allocation of 20% of any net profit (determined net PERFORMANCE of the Underlying Fund Management Fee as described herein) (the ALLOCATION "Underlying Fund Performance Allocation") will be charged annually, as further described in and subject to ad
L CONFIDENTIAL UBSTERRAMAR00002263 EFTA00237819 The Administrator is registered as a "commodity pool operator" with the CFTC and is a member of the National Futures Association ("NFA") in such capacity under the U.S. Commodity Exchange Act, as amended. With respect to the AlphaKeys Fund, the Administrator has claimed an e
will not be charged a Placement Fee. UNDERLYING FUND A performance allocation of 20% of any net profit (determined PERFORMANCE ALLOCATION net of the Underlying Fund Management Fee as described herein) (the "Underlying Fund Performance Allocation") will be charged annually, as further described in and subject to additional t
L CONFIDENTIAL UBSTERRAMAR00001210 EFTA00236856 The Administrator is registered as a "commodity pool operator" with the CFTC and is a member of the National Futures Association ("NFA") in such capacity under the U.S. Commodity Exchange Act, as amended. With respect to the AlphaKeys Fund, the Administrator has claimed an e
will not be charged a Placement Fee. UNDERLYING FUND A performance allocation of 2O% of any net profit (determined PERFORMANCE ALLOCATION net of the Underlying Fund Management Fee as described herein) (the "Underlying Fund Performance Allocation") will be charged annually, as further described in and subject to additional t
Entities connected to both the National Futures Association and the Underlying Fund Management Fee

United States
LOCATION
Ghislaine Maxwell
PERSON
UBS AG
ORGANIZATIONCayman
LOCATIONClasses of Interests
ORGANIZATIONErnst & Young LLP
ORGANIZATIONthe Investor Application
ORGANIZATIONBank Holding Company Act Considerations
ORGANIZATION
Paul Volcker
PERSON
the Internal Revenue Service
ORGANIZATIONNo Assurance of Investment Return
ORGANIZATION
U.S. Treasury
ORGANIZATIONthe District of Columbia
LOCATIONTrigger Event
ORGANIZATIONCustodian
ORGANIZATION
Millennium
ORGANIZATIONthe Federal Reserve System
ORGANIZATIONNon-U.S. Investments
ORGANIZATIONKeogh
ORGANIZATION
New York
LOCATION