This document contains a summary of average consensus estimates for UBS, collected by UBS Investor Relations directly from sell-side analysts covering UBS. Any opinions, estimates or forecasts of analysts regarding UBS's performance and the consensus information derived from it are the analysts' and do not represent opinions, estimates or forecasts of UBS or its management. By distributing this information UBS does not imply its endorsement of or concurrence with it and does not make any representation as to its accuracy or completeness nor assumes responsibility for it. UBS undertakes no obligation to update the information contained herein. This document and the information contained herein are provided solely for information purposes, and are not to be construed as a solicitation of an offer to buy or sell any securities or other financial instruments in Switzerland, the United States or any other jurisdiction. No investment decision relating to securities of or relating to UBS Group AG, UBS AG or their affiliates should be made on the basis of this document.