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Results of the Annual General Meeting of UBS AG

Basel | | UBS News

At the Annual General Meeting on April 14, 2010, UBS shareholders re-elected the members of the Board of Directors, elected Wolfgang Mayrhuber to the Board, and approved the creation of conditional capital as a component of contingency planning. The Annual General Meeting was attended by 4,728 shareholders, representing 1,688,613,239 votes.

At the Annual General Meeting on April 14, 2010, the shareholders of UBS AG approved the Annual Report and Group Financial Statements for 2009, agreed to offset the loss for the year against reserves and reaffirmed Ernst & Young, Basel, as auditors. Shareholders also agreed to adapt the Articles of Association to the new Swiss Intermediary-Held Securities Act.

In a consultative vote, shareholders ratified the 2009 Compensation Report with 54.72% of the vote. They also discharged the members of the Board of Directors and the Group Executive Board for 2008 (77.37%) and 2009 (85.13%), but not for 2007 (52.75% voted against).

Elections to the Board of Directors
The Annual General Meeting re-elected Kaspar Villiger (96.08%), Sally Bott (90.98%), Michel Demaré (97.25%), Rainer-Marc Frey (96.22%), Bruno Gehrig (92.03%), Ann F. Godbehere (97.10%), Axel P. Lehmann (97.25%), Helmut Panke (91.70%), William G. Parrett (97.08%) and David Sidwell (97.05%) and elected Wolfgang Mayrhuber (89.24%) to the Board.

Kaspar Villiger retains his position as Chairman of the Board of Directors. Michel Demaré was appointed as Vice Chairman and David Sidwell as Senior Independent Director, as envisaged by the Board in the event of their re-election.

Detailed CVs of all the members of the Board of Directors are available at www.ubs.com/bod.

Conditional capital
Shareholders approved the creation of conditional capital in a maximum amount of CHF 38,000,000, as a component of contingency planning and capital management in line with recent regulatory developments.