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13, 2003 through September 8, 2006 the percentage band criteria used in the rating system was 10%. 1185

ae ae Source: JETNET and UBS essmans Global Equity Research Americas Aerospace 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 prepare

13, 2003 through September 8, 2006 the percentage band criteria used in the rating system was 10%. Addi

is our preferred play on business jets. Global Equity Research Americas Aerospace Sector Comment 24 March 2010 ww* ute cony nvestmentresearch David E. Strauss Ana/5i davId.Straungisba Oten •1-212.7136185 Cristina Fernandez Anaysl cnsbnalemandez@Lissoom •1.212.713 3321 Darryl Genovesi Asscoate Analy

13, 2003 through September 8, 2006 the percentage band criteria used in the rating system was 10%. Addi

Chart 2: Overall Business Conditions Score 100 ; 50 200 iu 1 11./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 Anal

13, 2003 through September 8, 2006 the percentage band criteria used in the rating system was 10%. Addi

L is our preferred play on business jets. Global Equity Research Americas Aerospace Sector Comment 24 March 2010 ww*.ubs comonvestmentreseatch David E. Strauss Anato daed strainsktubs Qom .1-212.7136185 Cristina Fernandez Anaysl cnsmalemancleziNosoom •1.212.713 3321 Darryl Genovesi Asscoate Anatol

13, 2003 through September 8. 2006 the percentage band criteria used in the rating system was 10%. UBS

stabilizing, albeit at record witubs cccruinvestmentresearch high levels both in absolute terms and at IS% of the installed base. While still 55% David E. Strauss above prior year levels, available business jet inventories were roughly unchanged Aratyst sequentially in May including a 1% decline in young ava