ulatory regime or the Financial Services Compensation Scheme. USA: This document is not intended for distribution into the US and / or to US persons. UBS Securities LLC is a subsidiary of UBS AG and an affiliate of UBS Financial Services Inc., UBS Financial Services Inc. is a subsidiary of UBS AG. Version 10/2012.

y be made available upon request. In the U.S., securities underwriting, trading and brokerage activities and WA advisory activities are conducted by UBS Securities LLC. a wholly owned subsidiary of UBS AG that is a registered broker-dealer and a member of FINRA, the NYSE, and other principal exchanges and SIPC. UB

ty; Consent Judgment Cease & Desist, and Fines in varying amounts currently being paid to all 50 states. UBS Financial Services Inc. (together with UBS Securities LLC) agreed to pay a fine of 5150 million ($75 million to the NYAG and S75 million allocated to the remaining states). ML281837-MAXWELL Page 2 of 4 C

nagement Americas • Collaborative partnership within UBS AG. These services are available from and provided by UBS Global Asset Management U.S. and UBS Securities LLC, respectively ' As of June 30, 2014 1837-MAXWELL (SUBS Private and confidential 4 CONFIDENTIAL UBSTERRAMAR00001172 EFTA00236818 Millennium

EFTA00237123 Trading Activity The vast majority of our exchange-listed securities and over-the-counter orders are executed through our affiliate, UBS Securities LLC—which executes orders as either principal or as agent, depending on the circumstances and type of program involved and receives compensation for tho

EFTA00237732 Trading Activity The vast majority of our exchange-listed securities and over-the-counter orders are executed through our affiliate, UBS Securities LLC—which executes orders as either principal or as agent, depending on the circumstances and type of program involved and receives compensation for tho

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 PAGE 10. UBS does and seeks to do business with companies covered in its research reports.

ause of its relationship or contact with the occurrence or the parties, has the greatest concern with the specific issue raised in the litigation." UBS Securities LLC v. Highland Capital Management, L.P., 924 N.Y.S.2d 312, 2011 WL 781481 (Sup. Ct. 2011) (applying the interest analysis because claims to pierce the

RITING Under the terms and subject to the conditions in an underwriting agreement, the undenvriters named below. for whom Morgan Stanley & Co. LLC, UBS Securities LLC and Keefe, Bruyette & Woods, Inc. are acting as representatives, have severally agreed to purchase. and we have agreed to sell to them, severally, t

e securities laws Disposition: Cease & Desist. Fine, Penalty, Disgorgement, Investor Education. Details: UBS Financial Services Inc. (together with UBS Securities LLC) paid a total of S80M (allocated among the states), which includes $25M penalty. S25M as disgorgement, $25M to be used for procurement of independen

alty; Consent Judgment Cease & Desist, and Fines in varying amounts currently being paid m all 50 states. UBS Financial Seances Inc. (together with UBS Securities LLC) agreed to pay a fine of $150 mil:ion (575 million to the NYAG and 175 million allocated to the remaining states). 4. Date of Action: luly 16, 200

e securities laws Disposition: Cease & Desist. Fine, Penalty, Disgorgement, Investor Education. Details: UBS Financial Services Inc. (together with UBS Securities LLC) paid a total of S80M (allocated among the states), which includes $25M penalty. S25M as disgorgement, $25M to be used for procurement of independen

Survey al-44 3 10 - 0 (43 I 'it In (4.' 4 '2' 31 3 c% 3 g34Egk4 3 AL 2 Source UBS Business Jet Survey I-44 This report has been prepared by UBS Securities LLC ANALYST CERTIFICATION AND REQUIRED DISCLOSURES BEGIN ON PAGE 17. UBS does and seeks to do business with companies covered in its research reports.

ierpont Securities LLC 463.0 4.1% 27 36 14 Citigroup Global Markets Inc. 422.5 3.7% 17 30 15 CRT Capital Group LLC 399.3 3.5% 18 30 16 UBS Securities LLC 397.4 3.5% 11 18 17 The Bank of Nova Scotia 389.2 3.4% 26 36 18 Cantor Fitzgerald & Co. Inc. 364.5 3.2% 18 23 19 ING Financial Markets

lete and return to the General Partner, a Subscription Agreement and certain other documents. (See "Subscription for an Interest.") PRIME BROKER: UBS Securities LLC 623 5th Avenue, 31st Floor New York, New York 10022 AUDITOR: Rothstein, Kass & Company, P.C. 4 Becker Farm Road Roseland, New Jersey 07068 ADM

GD(TXT Scums UBS Business Jet Survey 8144 1 t?; • z Z ct• 9 9 a cn Source UBS Business Jet Survey AI-14 This report has been prepared by UBS Securities LLC ANALYST CERTIFICATION AND REQUIRED DISCLOSURES BEGIN ON PAGE 17. UBS does and seeks to do business with companies covered in its research reports.

4411414 0-10 Years 10. Yeats —%ot Fleet Avadatie to( Sale % of Installed Base Source. JETNET and UBS °striates Thls report has been prepared by UBS Securities LLC ANALYST CERTIFICATION AND REQUIRED DISCLOSURES BEGIN ON PAGE 10. IJBS does and seeks to do business with companies covered in its research reports.

resentatives of the underwriter and. together with Citigroup Global Markets Inc.. Credit Suisse Securities (USA) LLC. Deutsche Bank Securities Inc.. UBS Securities LLC, Barclays Capital Inc.. Morgan Stanley & Co. Incorporated and Wells Fargo Securities. LLC. acted as joint book-running managers of the offering. The

ty; Consent Judgment Cease & Desist, and Fines in varying amounts currently being paid to all 50 states. UBS Financial Services Inc. (together with UBS Securities LLC) agreed to pay a line of 5150 million (575 million to the NYAG and 575 million allocated to the remaining states). 5. Date of Action: July 16, 200

ty; Consent Judgment Cease & Desist, and Fines in varying amounts currently being paid to all 50 states. UBS Financial Services Inc. (together with UBS Securities LLC) agreed to pay a line of 5150 million (575 million to the NYAG and 575 million allocated to the remaining states). 5. Date of Action: July 16, 200