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DealenBrdcer Financier 59% 17% Note: Other ndudes appraisers, fractional providers. management charter, FBO and MRO service providers. Source: UBS Business Jel Survey N44 The majority of our participants are located in North America (75%), although most transact a significant proportion of their business with for

rove, 14% expected business conditions to deteriorate and 52% expected business conditions to stay the same. Chart 19: 12-Month Forward Outlook for Business Conditions, January 2012 De'erforale 8% N O Slay tie same / 51% Improve 41% Sane: UBS Business Jet Survey Our I2•month outlook score came in at 66 this

6: Business Jet Market Survey • Participant Location Lain America 2% Middle East & Africa 2% Europe 21% Asia a Pacific 1% MA Mina 74% Son: UBS Business Jel Survey jE,S 4 EFTA_R1_00225641 EFTA01840642 UN Business at Suntey 2 February2012 While the majority of ow survey participants arc located in the U.S.,

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Dealenfiroker Financier 59% 17% Note: Other ndudes appraisers, fractional providers. management chartee, FBO and MRO service providers. Source: UBS Business Jel Survey N44 The majority of our participants are located in North America (75%), although most transact a significant proportion of their business with for