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EFTA01177210 | EFTA01177226 UBS Business Jet Update 25 Allay 2012 Global Disclaimer Tim document has bean papared by UM Secunbes LLC, ananted UBS AG. UBS AG. its subsdanes. branches andantes are retorted to herein as UBS. Tha document is let dabbuitan only as may be pormstod by law. 11 is not droned to. or intended let dsIntuton to or use by. any person or entity who is a resident ol or laded in any Indity. tale. Gauntry or other luilsOMICO when lab Olnbullon. pAltagon. twahnity or use stub be Centrety to law or remitaren Or would subedit* to eny femur...inn or teeming reourement weal Su"' Arld1C6On. It IS pubtebed solely ICir Infarnalkon purposes: a 4 nix an fidebbeMenl Ma IS it 8 Statilden Cr en Ond to buy Or Sal any thantial instruments a 10 cameo= ri arty parscular badrg strategy. ND rectosentaton or warranty. ether tarots a implied. is lambed in rebtot to the accuracy. corrpoteness or reliabilty d the 'Maranon tOntaned n the OOtument (Me Inrathed06). except rah reaped tO InromeriOn eenCerring UeS The Inkenhalan is not Intended 13 00 a cOMelete KfileMenl Or Summary 01 Me Saturates. nekels a develOOMentS rerened di al the nearer* UBS CMOS not unClentike t0 update a keep fumed the Inhumation. Any Opinions Punned n mlS<Meun ', may Change wand ante and may diner or be cetera" to canons expressed by other busness areas ot groups of UBS. Nettling in UM neared Cereal/ft a repreSentabon That any rotatertint fealegy a reeemmendaron is Shade a appropriate to an invesafire l4MMal Onbindlinteft Or dreren coretnute: a paternal recommendation, nrestrrems involve ntks. and investors shoUd exercise prudence and mar own judgement in =lam tier investment &sisals. The franca' indruments deicrbed In the &Current may not be Ogled tot sale in all juiScIteOnS Or 13 Certain CalegateS 01 Invelikre totems. Oenvaive produda and lutist* ere not kraal) ton all Investors. and tracing in 'hese nSeurrenIS S onadered Maw UOrigage and asselbacked securities may Involve 8 nigh degree Oldlik and may be Nphly vdagle In response to IluClualifini in interest rates or other market condeens. Foregn currency rates of <achargt may adversely nod the yam prce or name of any socunly or related ratrueram relared ton the document. For neeseure *Once. 'fleeced's*, or other eneuros. clients shotidcataci their teal sales 'consonant The value ol any investment or rcome may go darn z well as up. and awed= may not gel back the lull amount messed. Put performance a not necessary a gude lo Mune palormance. Nadler UBS nor any of it: directors. orrployees or apart: accepts any katrIty for any loss lincludng investment loss) or damage arcing out of the use dal ot arty d the trionnaccn. Any paces slated in me document are tor mtormabon purposes only and do not represent valuabens br riclindual so: untie: or other frunaal adoements. There is no representation That any transactioncana couldhero been enacted at those prices. and any paces dorm accassanly reflect IJIISS normal books and racords err mammal mode/based valuations and may be based an <Odinants/Mena CillerentaMuYpiOnS by UBS a anyOmer nate may Subdanting different results. >wo Research wit abate. update and cease comrade solely at the discretion el UBS Inwarriere Dark Research Management. The araysis contained in ma docurrient a based on numerous assure ronS Differea arbaurraen road resist h materially Warta ;MUM The andySt(ftl retrentitie Or the prepanliOn Of Ma document may mina wan trading desk airiennel. Sales penalise' and Otrkw Pant ICH Ire woos* 01 gathering. SPAM* and Interpreting mead infOrmatten. UBS relies On iroomeron barters to macs the her ol Itharoalion contained h one or rote areas wenn !SS into other areas. units groups or adzes of UBS. The compensators of me analyst who prepared this documen is determined exclusively by research management are Sena management end inCluelng Inettlenent banking). Malys CeerpenSabrin is not based On investment barrong Wince& hOwitreer. amperealen may Mate to the revenues 01 UBS Imestmenl Bark 89 a whore. 01 whith InveSIMall bating. tare and Kea® We a par For financial instruments admitted to trading on an EU regulated mann: UBS AG. IN allitate: a :Lbsidunes (excluding UBS Seounbes LLC) acts as a market maker or hauclty arcade, in 8a0rOfinre ad the Interpretation of Mese term In me UK) in me anima& htaun*nis Of Me Coln Sive trial wrere the UM* 01 lauklIty preside. 4 Carted Oa in accordance cum the daimon germ to ney the lave and regulatcas ol any other EU dradiclons. such informason is :ea=tery disclosed n ths document. For financial instruments admitted to tradrg on a n3n. EV regulaled makes UBS rrey ea as a asset mass save mat %mere Ills matey a Carded Cul in IM US in &Cadence WWI me Motion divan to ff by the relevant laws and thialeas. such artrry ell be goeCiatale Ordered In INS dathent. UBS may have issued a warred the vat* Of *huh is bailed Co on, 01 more 01 me nnenCial tnetrumenle referred 10 n 1h tberhent UBS and es elutes acid orrpbmos may hove long or short positions. ben as pnrcpal and buy and set in instnrronts or dematmes clentibed heron: such vansacoora a positions may be inconsistent wth the canna expressed in dos document United Kingdom and the rest a Europe: Except as eXherwce spooled herein this rratenal is datraried by UBS United to persons who are dab* ceuxerparbes a protrannal nab. LSS brined is milmosed and regulated by the Financial Service: Authority (FSA). Prance: Prepared by UBS Limited and &Inbred by UM Limned an UBS Secunbes France SA UBS Steal** France SA. is reautated by the Auttral des March.% Frenbere (AMF) Where an finalyal 01 Seditled Fif009 SA. NS tentrinted to OM ddiniall. me Odirrent IS SO deemed to have been prepared by UBS Sastre*: France S A Germany: Prepared by WS Lotted and datributed by UBS °mad and UBS Deutschland AG. UBS Deutschland AG es regulated by the Bundeabdtalt Mr Finals:.ardleiblunzaiuMehl (BaFn). Spain: Prepared by UBS Lifted and Ontributed by UM Lifted and MS SOCuntieS Entire SV. SA. UBS Securaes esbeite SV. SA IS refarated by he CaritiOn Nadore/ del Merced) de WOMBS (ON1AV). Turkey: Prepared by Urn WSW Corner AS On bean 01 and OiteribrAect by UBS Limited NO inlamation it this doanienl is provided for the purpose d altering. marketing and sale by any meara of any capital market instruments and sauces ri the Repb1c ot Turkey. Thereinto. this document may not to considered as an ober made or to be made to residents ot the Republic ol Turkey. UBS AG is not berried by the Taken Captal Market Board under me prensons of MO Capital Went Law Ilan No. 2499). ACCerdngly. nalher INS 000.0ent nor any Other Wang Malatal related to me InnuntenWnrotee may be Wind in connexion viith proldno any caplet market sauces to persons main the Repatic ot Ttrkey want the nor approval of me Capital Markel Beard. However. acoading to mule 15141 (a) ol the Came No. 32, them is no restriction on the our rese or sale of he StiOndee abr080 by Nadal% d the Rtieutre d Turkey. Peland: Crelfthiled by UM United (600M 2 egranaana 00p0Medzialn0106) °Aber w Peace. Russia: Rotated scud Clittgibtf.cl by MS Seethe.. CJSC. Swluedenci: Ctillittne0 by UBS AO to bereft Afro are Madera Cretan Only. Reny: Prepared by UBS Limbed and ctsIntuted by IRS united and IRS halo Sni S.p.A. UM bat. Sun S.p.A. is regulated by the Bark of Italy and by me Comm:acne Savona* per le Socota e la Boma (CCNSOBt. Where an anatysl of UBS Meta Sim S.p.A. has cemnerced to this chairmen the document is also deemed to have been prepared by UBS ban San S p.A. South Africa: Di:Inbred by UBS Satoh Alnca (Ply) Umbel. an authonsed user ol the JSE and an audionsed ananaal Services Provider. Israel: UBS Lmted and its affiliates incorporated outset* Israel are not lensed older the Investment Advice Law, This material a bang rued only is ardor is directed only al pavans who are Sephsocated Iron-stets within the meaning of to brach Socurees Law. and dos Metal must not be redid Or WOO (don by any Other persOns. WhIR UBS
May 12, 2026 at 4:34 PM
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Parts 5-7/7 — EFTA01177226.jpg
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LiMilad hales insurance la Its satires. II 00e9 ml told Me same rattenre that wan be ranked Mr an Invalided UMW Or 'napalmed marketer under one relevant liwtekenent Advt. Law Regulations. Saudi Arabia: The 00tument has nen issued by MS AO (ander any Olga StbdOtanae. &archesor diluted. a public ocerpany limited by shares. incorporated in Svelzerland wth is registered offices at Aoschemorslact 1. Cd.4051 Basel and Etareholstrasse 45. CUS001 lurch. The publyaban has teen approved by UBS Saudi Arabia (a subsidiary ol LeS AG). a foreign closed pint dock ceripany ncorcorated in to Kandom of Saudi Antra under commeroal redder rtwsber 1010257812 herbs its recreated race at Tahveer Tolima. P.O. Box 75724. Almon 11586. Kingdom of Saudi areas. UBS Saud ArAbia IS authorized and regtelled by Me Capital Markel &Morey to conduct :mambos buttress under tsetse madam 0611237. United Stabs: Dabbuled to US persons by ether UBS Secunties LLC or by UBS Financial Senesces Sublikhailee el UBS ACC Or by a group. sobadery a ' , mate Of UM AO that a not registered as a US breeercteder (a 'nen-US iittatid0,10 major US ilSltdOnal investors Only. UBS Secants LLC Or UBS FinanCial Sennett Inc accepts rtspons Play Mr the WON 01 a document prepared by antler nOn.US a"liaie when dstriculed SO VS banns by IRS SecurdesLLC et UBS Financial Services Inc. Al tramacbens by a US pavan n the saunas men:cried in the document net be ended through U8S Saturnus LLC or UBS Financial Sonnets Inc.. and nor INOutd a nOn4JS dHete. Canada: Garbuted by UBS Shorties Canada Inc.. a rendered 'Wedded dealer in Canada and a Merrber-Canadian InveStOr Pretearon Fund. Or by SOO* Massie ol UBS AG trial es registered to contact bushes n Canada or a otherwise except Iron regstration. Hong Kong: Daunted by LIDS Suarez Asia Lured, Singapore: Ctslrb.iled by UBS Sautes Pte. LId Mica Ipl 016+112011 and Co. Reg. Na,: 1995C06111C) or UM AG. Singapore Branch. Pease contact UBS Sautes Pte. bd.. an exempt finanoal =laser under me Singapore Financial Advsers Act (Cap flog): Cr UM AO. Singapore Branch. an exerrpt firanCier Saner tMer me Singaare Finds:MI khan Ad (GOP 110) and a wholesale bath horned older lug Singapore Elansrig Ad tee). 191 regulated by the Monetary Aullbrity 01 Sagan:re. in respect or any matters altshg (rem Or In eamearan cum. lh9 analyse Or 000.inned. The recipients ol the dacunvell reptneni and warrant dial they are accrentul and instrabonal investas a: defiled in the Secunbes and Fines Act (Cap. MI. Japan: Distributed by UBS Stones Japan Co.. Ltd. to in:manna, imencirs cnO. Where Inc Seamen has been prepared by UM Securities Japan Co.. Ltd- UBS Seounlies Japan Co_ Ltd. is the auto. adisher and etsintutor ol tro doctrriem. Australia: Dirmourd ty UBS AG Molder ol Australian Financial Senates License No. 2310071 ads UBS Seounbes Australia Ud (Helder of Australian Financul Services License No. 231096). The Inloinatan en hi: document has been prepared *thou taking into aciteure any invenbads obactives. *rand situation or noods, and investors shotict WO* scene on the Information. consoler the approonareness el the Information having regard to melt othalres, manna tatufebn and needs, d the InfOrnann COntared in me inerrant dale. 10 the aearhal. Or Cetenta 80bisr.on ol a partleutai Manila heard by a 'Retail' trent as dame° by Sateen 7610 are CaperatiOnsi Ad 2001 where a Prated Ditinetre Statement would be required. the retail eicti should num and consider the Product Dr:closure Statement relating to the product before mating any loosen about whether to stare me product New ZNIIIMO: Dislreuted by UBS New Zealand Ltd. The InfOrMatiOn and recommendations in ants Natation are Provided br genhal intern:4W harpoon Only. TO me agent that any such InfairreliOn Or reCOmmendalkinti Centttole liner/Oat advice. may dti not WO imp SOCOunt any person's 0/acute:franca sivation a goals. We recommend mat retpenta St* adsce spark to their circumstances from thew Inancial adviser, Dubai: The research prepared and etstnlincod by UBS AG Dubai Branch is intended fa Prolossanal Clams only and is net br further detrturen Winn he tinted Arab Emirates Korea: Derbaeo in Korea by Ufa Secureea Re. Ltd.. Seoul Brandi The document may hare been edits or contrbuled a froth lime 10 lire by Waimea Of UBS Sehare Re. Ltd.. Seoul Branch. libtayilla: This Materel 4 WIN:reed 10 be (Mu Wad in Malaysia by UBS Seamties Malaysia Sdn. and (253625-a). India: Prepared by UBS Secure*: Inds Pnvato Ltd 2f. 2 Nord Avenue. Maker (hnly. Bandra Kuria Corngex. Sand, 'East). Marta Waal 400051. Phone: .912261556000 SESI Registration Nutters: 115E (Capital Mahan Sean:end M0230951431. ICE (F80 Segment) VF230961431, BSE (Capital Market Segment) INE1010951437. UBS The dsdostres conared n research documents endued by UBS bread shall 133 governed by and construed in accordance wan English tow, UM speaker& probate: he ft:deo-Wren at this document in whole or n part wawa me wren permission ol UBS and UBS accepts no liadlty whalsona for the aceceis of end parties in ms respell Images may Crotha Objecls or elemmis vetch are rotated by thid Mutt COOyeaht trademarks and other Roseau: dioxin Vie UBS 2012. The key *Prete and LOBS are among de vegeta...ciao(' urveg glared tradeneIrkS ol LOBS Al rights fanned SUBS Issas EFTA01177226
May 12, 2026 at 4:34 PM