UBS financial highlights

UBS income statement
	As of or for the year ended			% change from
CHF million, except where indicated	31.12.06	31.12.05	31.12.04	31.12.05
Net profit attributable to UBS shareholders	12,257	14,029	8,016	(13)
Diluted earnings per share (CHF) ¹	5.95	6.68	3.70	(11)
Basic earnings per share (CHF) ¹	6.20	6.97	3.89	(11)
Return on equity attributable to UBS shareholders (%) ^2,3	28.2	39.7	25.8

Performance indicators from continuing operations
Diluted earnings per share (CHF) ¹	5.58	4.66	3.49	20
Return on equity attributable to UBS shareholders (%) ^3,4	26.5	27.7	24.3

Financial Businesses⁵
Operating income	47,171	39,896	35,971	18
Operating expenses	32,782	27,704	26,149	18
Net profit attributable to UBS shareholders	11,253	13,517	7,656	(17)
Net profit attributable to UBS shareholders from continuing operations	11,249	9,442	7,357	19
Cost / income ratio (%) ⁶	69.7	70.1	73.2
Net new money (CHF billion) ⁷	151.7	148.5	89.9
Personnel (full-time equivalents)	78,140	69,569	67,407	12

UBS balance sheet & capital management
Total assets	2,396,511	2,058,348	1,737,171	16
Equity attributable to UBS shareholders ³	49,686	44,015	33,632	13
Market capitalization	154,222	131,949	103,649
BIS capital ratios
Tier 1 (%) ⁸	11.9	12.8	11.8
Total BIS (%)	14.7	14.1	13.6
Risk-weighted assets	341,892	310,409	264,832	10
Invested assets (CHF billion)	2,989	2,652	2,217	13
Long-term ratings
Fitch, London	AA+	AA+	AA+
Moody's, New York	Aa2	Aa2	Aa2
Standard & Poor's, New York	AA+	AA+	AA+
1 For the EPS calculation, see note 8 to the financial statements. 2 Net profit attributable to UBS shareholders / average equity attributable to UBS shareholders less proposed distributions. 3 Equity attributable to UBS shareholders has been adjusted for the full-year periods ending 31 December 2006, 2005 and 2004 and is now different from the figure published in the Fourth Quarter 2006 Report. For more information, please refer to note 1 to the financial statements. 4 Net profit attributable to UBS shareholders from continuing operations / average equity attributable to UBS shareholders less proposed distributions. 5 Excludes results from Industrial Holdings. 6 Operating expenses / operating income less credit loss expense or recovery. 7 Excludes interest and dividend income. 8 Includes hybrid Tier 1 capital. Please refer to the BIS capital and ratios table in the capital management section and note 29 to the financial statements.

All share and earnings per share figures throughout this report, unless otherwise indicated, reflect the 2-for-1 share split made on 10 July 2006.

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